Apogee Therapeutics, Inc. (NASDAQ:APGE) Shares Purchased by Alliancebernstein L.P.

Alliancebernstein L.P. increased its holdings in shares of Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report) by 13.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,355,185 shares of the company's stock after buying an additional 160,822 shares during the period. Alliancebernstein L.P. owned about 3.01% of Apogee Therapeutics worth $61,390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in APGE. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Apogee Therapeutics in the third quarter valued at about $71,000. Aigen Investment Management LP purchased a new position in shares of Apogee Therapeutics in the fourth quarter valued at approximately $216,000. Commonwealth Equity Services LLC purchased a new position in shares of Apogee Therapeutics in the fourth quarter valued at approximately $222,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Apogee Therapeutics in the fourth quarter worth approximately $226,000. Finally, Wexford Capital LP purchased a new stake in shares of Apogee Therapeutics during the third quarter worth approximately $230,000. Institutional investors and hedge funds own 79.04% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on APGE. Guggenheim reaffirmed a "buy" rating on shares of Apogee Therapeutics in a report on Monday, February 10th. Wedbush reiterated an "outperform" rating and set a $90.00 price target on shares of Apogee Therapeutics in a report on Tuesday, March 11th. Finally, Citigroup assumed coverage on shares of Apogee Therapeutics in a report on Thursday, March 13th. They issued a "buy" rating and a $95.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $92.17.

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Insider Activity at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 3,520 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $40.69, for a total value of $143,228.80. Following the sale, the insider now owns 252,623 shares of the company's stock, valued at $10,279,229.87. This trade represents a 1.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Thomas Henderson sold 10,000 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $30.15, for a total value of $301,500.00. Following the transaction, the chief executive officer now directly owns 1,292,987 shares of the company's stock, valued at approximately $38,983,558.05. This represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,970 shares of company stock worth $1,241,701. Company insiders own 36.10% of the company's stock.

Apogee Therapeutics Stock Performance

Shares of Apogee Therapeutics stock traded down $2.37 on Thursday, reaching $29.44. The company had a trading volume of 233,728 shares, compared to its average volume of 500,557. The firm's 50 day moving average price is $36.19 and its two-hundred day moving average price is $44.66. Apogee Therapeutics, Inc. has a 52-week low of $26.20 and a 52-week high of $63.50. The firm has a market cap of $1.33 billion, a PE ratio of -12.25 and a beta of 1.72.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last announced its earnings results on Monday, March 3rd. The company reported ($1.19) earnings per share for the quarter, missing the consensus estimate of ($0.94) by ($0.25). As a group, sell-side analysts predict that Apogee Therapeutics, Inc. will post -3.09 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.