Valence8 US LP Purchases New Stake in Apogee Therapeutics, Inc. (NASDAQ:APGE)

Valence8 US LP acquired a new position in Apogee Therapeutics, Inc. (NASDAQ:APGE) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,240 shares of the company’s stock, valued at approximately $308,000. Apogee Therapeutics accounts for approximately 0.1% of Valence8 US LP’s investment portfolio, making the stock its 28th biggest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Apogee Therapeutics by 21.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company’s stock worth $94,000 after purchasing an additional 285 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Apogee Therapeutics in the second quarter valued at $143,000. Kennedy Capital Management LLC acquired a new position in shares of Apogee Therapeutics during the first quarter valued at $212,000. Arizona State Retirement System grew its position in shares of Apogee Therapeutics by 4.5% during the second quarter. Arizona State Retirement System now owns 5,993 shares of the company’s stock worth $236,000 after acquiring an additional 258 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Apogee Therapeutics by 26.3% in the 2nd quarter. Principal Financial Group Inc. now owns 6,442 shares of the company’s stock worth $253,000 after acquiring an additional 1,340 shares during the period. Institutional investors own 79.04% of the company’s stock.

Apogee Therapeutics Stock Performance

Shares of APGE stock opened at $43.28 on Friday. The stock has a market cap of $1.95 billion, a PE ratio of -17.88 and a beta of 2.93. The business’s fifty day moving average is $54.45 and its 200-day moving average is $48.81. Apogee Therapeutics, Inc. has a 1 year low of $16.39 and a 1 year high of $72.29.

Wall Street Analyst Weigh In

Separately, Wedbush restated an “outperform” rating and issued a $87.00 target price on shares of Apogee Therapeutics in a research report on Tuesday, November 12th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $78.50.

Insider Activity

In other Apogee Therapeutics news, insider Carl Dambkowski sold 6,665 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $47.56, for a total transaction of $316,987.40. Following the completion of the sale, the insider now directly owns 280,793 shares of the company’s stock, valued at approximately $13,354,515.08. This represents a 2.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $59.22, for a total transaction of $888,300.00. Following the completion of the transaction, the chief executive officer now directly owns 1,339,487 shares in the company, valued at approximately $79,324,420.14. This trade represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 114,995 shares of company stock worth $6,128,295. Corporate insiders own 36.10% of the company’s stock.

Apogee Therapeutics Profile

Apogee Therapeutics, Inc, through its subsidiary, operates as a biotechnology company that develops biologics for the treatment of atopic dermatitis (AD), asthma, chronic obstructive pulmonary disease (COPD), and related inflammatory and immunology indications. The company primarily develops APG777, a subcutaneous (SQ) extended half-life monoclonal antibody (mAb) for AD; and APG808, an SQ extended half-life mAb for COPD.