Point72 Asset Management L.P. Grows Position in Apogee Therapeutics, Inc. (NASDAQ:APGE)

Point72 Asset Management L.P. lifted its holdings in shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) by 162.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 707,268 shares of the company’s stock after acquiring an additional 438,036 shares during the quarter. Point72 Asset Management L.P.’s holdings in Apogee Therapeutics were worth $41,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Point72 DIFC Ltd purchased a new stake in shares of Apogee Therapeutics during the second quarter valued at $660,000. XTX Topco Ltd purchased a new stake in shares of Apogee Therapeutics during the second quarter valued at $706,000. Victory Capital Management Inc. boosted its position in shares of Apogee Therapeutics by 56.8% during the second quarter. Victory Capital Management Inc. now owns 156,266 shares of the company’s stock valued at $6,149,000 after buying an additional 56,607 shares during the last quarter. Waypoint Capital Advisors LLC purchased a new stake in shares of Apogee Therapeutics during the third quarter valued at $36,835,000. Finally, AQR Capital Management LLC purchased a new stake in shares of Apogee Therapeutics during the second quarter valued at $454,000. 79.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

APGE has been the topic of a number of recent research reports. Wedbush increased their target price on Apogee Therapeutics from $87.00 to $90.00 and gave the company an “outperform” rating in a report on Monday. Canaccord Genuity Group initiated coverage on Apogee Therapeutics in a report on Monday, November 25th. They issued a “buy” rating and a $89.00 target price on the stock. Canaccord Genuity Group initiated coverage on Apogee Therapeutics in a report on Monday, November 25th. They issued a “buy” rating and a $89.00 target price on the stock. Finally, Guggenheim reissued a “buy” rating and issued a $110.00 target price (up previously from $95.00) on shares of Apogee Therapeutics in a report on Tuesday. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $83.88.

Apogee Therapeutics Stock Up 12.5 %

NASDAQ APGE opened at $52.02 on Thursday. The stock’s 50-day moving average price is $52.90 and its 200-day moving average price is $48.30. Apogee Therapeutics, Inc. has a 52 week low of $18.84 and a 52 week high of $72.29. The company has a market capitalization of $2.34 billion, a P/E ratio of -21.50 and a beta of 2.30.

Insider Transactions at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 6,665 shares of Apogee Therapeutics stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $56.26, for a total transaction of $374,972.90. Following the sale, the insider now owns 274,128 shares of the company’s stock, valued at approximately $15,422,441.28. This trade represents a 2.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Thomas Henderson sold 40,000 shares of Apogee Therapeutics stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $56.23, for a total value of $2,249,200.00. Following the sale, the chief executive officer now directly owns 1,354,487 shares in the company, valued at $76,162,804.01. This trade represents a 2.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,330 shares of company stock valued at $3,906,508 over the last quarter. 36.10% of the stock is currently owned by company insiders.

About Apogee Therapeutics

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.