Apogee Therapeutics, Inc. (NASDAQ:APGE) Director Acquires $990,800.00 in Stock

Apogee Therapeutics, Inc. (NASDAQ:APGE) Director Mark C. Mckenna acquired 20,000 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was bought at an average cost of $49.54 per share, with a total value of $990,800.00. Following the completion of the acquisition, the director now directly owns 20,000 shares in the company, valued at approximately $990,800. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

Apogee Therapeutics Stock Performance

NASDAQ APGE opened at $44.69 on Thursday. The firm’s fifty day moving average price is $50.92 and its two-hundred day moving average price is $48.30. The stock has a market cap of $2.01 billion, a PE ratio of -18.47 and a beta of 2.30. Apogee Therapeutics, Inc. has a fifty-two week low of $22.20 and a fifty-two week high of $72.29.

Analyst Ratings Changes

A number of research firms recently commented on APGE. Wedbush boosted their price target on Apogee Therapeutics from $87.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Guggenheim restated a “buy” rating on shares of Apogee Therapeutics in a research report on Thursday, December 12th. Canaccord Genuity Group began coverage on shares of Apogee Therapeutics in a research report on Monday, November 25th. They set a “buy” rating and a $89.00 price target on the stock. Finally, Canaccord Genuity Group assumed coverage on shares of Apogee Therapeutics in a research report on Monday, November 25th. They set a “buy” rating and a $89.00 price objective for the company. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $83.88.

Institutional Investors Weigh In On Apogee Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in shares of Apogee Therapeutics by 35.7% during the third quarter. Wellington Management Group LLP now owns 4,814,400 shares of the company’s stock valued at $282,798,000 after purchasing an additional 1,267,451 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in Apogee Therapeutics by 2.6% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,117,870 shares of the company’s stock valued at $83,338,000 after buying an additional 54,107 shares during the last quarter. Perceptive Advisors LLC boosted its position in Apogee Therapeutics by 2.2% during the 2nd quarter. Perceptive Advisors LLC now owns 2,105,636 shares of the company’s stock worth $82,857,000 after buying an additional 45,241 shares during the period. Affinity Asset Advisors LLC grew its holdings in Apogee Therapeutics by 41.2% during the 2nd quarter. Affinity Asset Advisors LLC now owns 836,283 shares of the company’s stock worth $32,908,000 after acquiring an additional 244,190 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Apogee Therapeutics by 11.2% in the 3rd quarter. Geode Capital Management LLC now owns 823,839 shares of the company’s stock valued at $48,401,000 after acquiring an additional 82,978 shares during the period. Institutional investors own 79.04% of the company’s stock.

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.