AlphaCentric Advisors LLC Makes New Investment in Apogee Therapeutics, Inc. (NASDAQ:APGE)

AlphaCentric Advisors LLC acquired a new position in shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 8,500 shares of the company’s stock, valued at approximately $499,000.

Several other institutional investors have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. increased its holdings in Apogee Therapeutics by 63.8% in the third quarter. China Universal Asset Management Co. Ltd. now owns 8,655 shares of the company’s stock valued at $508,000 after buying an additional 3,371 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew 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 valued at $94,000 after acquiring an additional 285 shares during the period. Waypoint Capital Advisors LLC purchased a new position in shares of Apogee Therapeutics in the 3rd quarter valued at about $36,835,000. Handelsbanken Fonder AB raised its holdings in Apogee Therapeutics by 25.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 8,800 shares of the company’s stock worth $517,000 after purchasing an additional 1,800 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Apogee Therapeutics during the third quarter worth approximately $475,000. 79.04% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Carl Dambkowski sold 6,665 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $56.26, for a total value of $374,972.90. Following the completion of 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Jane Henderson sold 6,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $48.26, for a total value of $289,560.00. Following the completion of the sale, the chief financial officer now owns 200,871 shares of the company’s stock, valued at $9,694,034.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Carl Dambkowski sold 6,665 shares of Apogee Therapeutics stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $56.26, for a total transaction of $374,972.90. Following the sale, the insider now directly owns 274,128 shares in the company, valued at approximately $15,422,441.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 146,665 shares of company stock valued at $7,058,635 in the last ninety days. 36.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Wedbush restated an “outperform” rating and issued a $87.00 price objective on shares of Apogee Therapeutics in a research report on Friday, October 25th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $78.50.

Apogee Therapeutics Stock Up 3.3 %

Shares of NASDAQ:APGE opened at $56.30 on Tuesday. The business’s 50 day moving average price is $53.28 and its 200-day moving average price is $48.43. Apogee Therapeutics, Inc. has a 1 year low of $14.19 and a 1 year high of $72.29.

Apogee Therapeutics (NASDAQ:APGE) last released its earnings results on Monday, August 12th. The company reported ($0.60) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.60). As a group, equities research analysts anticipate that Apogee Therapeutics, Inc. will post -2.57 EPS for the current year.

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.