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

Valence8 US LP acquired a new stake in shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 5,240 shares of the company’s stock, valued at approximately $308,000. Apogee Therapeutics comprises approximately 0.1% of Valence8 US LP’s investment portfolio, making the stock its 28th largest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Arizona State Retirement System raised its holdings in shares of Apogee Therapeutics by 4.5% during the 2nd quarter. Arizona State Retirement System now owns 5,993 shares of the company’s stock valued at $236,000 after purchasing an additional 258 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Apogee Therapeutics by 21.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company’s stock valued at $94,000 after buying an additional 285 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Apogee Therapeutics by 26.3% during the second quarter. Principal Financial Group Inc. now owns 6,442 shares of the company’s stock valued at $253,000 after buying an additional 1,340 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Apogee Therapeutics by 25.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 8,800 shares of the company’s stock worth $517,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its stake in shares of Apogee Therapeutics by 111.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,126 shares of the company’s stock worth $274,000 after acquiring an additional 2,172 shares in the last quarter. 79.04% of the stock is currently owned by institutional investors and hedge funds.

Apogee Therapeutics Stock Performance

Apogee Therapeutics stock opened at $43.28 on Friday. Apogee Therapeutics, Inc. has a 52 week low of $16.39 and a 52 week high of $72.29. The firm has a market capitalization of $1.95 billion, a PE ratio of -17.88 and a beta of 2.93. The business’s 50-day simple moving average is $54.45 and its 200-day simple moving average is $48.81.

Insider Buying and Selling at Apogee Therapeutics

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 15,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $59.22, for a total value of $888,300.00. Following the sale, the chief executive officer now directly owns 1,339,487 shares in the company, valued at $79,324,420.14. This trade represents a 1.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Carl Dambkowski sold 6,665 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $59.12, for a total transaction of $394,034.80. Following the transaction, the insider now owns 267,463 shares in the company, valued at approximately $15,812,412.56. The trade was a 2.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 114,995 shares of company stock valued at $6,128,295 in the last 90 days. 36.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Apogee Therapeutics Company 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.