Apogee Therapeutics, Inc. (NASDAQ:APGE) Director Mark C. Mckenna Acquires 20,000 Shares of Stock

Apogee Therapeutics, Inc. (NASDAQ:APGE - Get Free Report) Director Mark C. Mckenna acquired 20,000 shares of the firm's stock in a transaction that occurred on Thursday, December 12th. The stock was bought at an average price 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 of the company's stock, valued at $990,800. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Apogee Therapeutics Stock Performance

Shares of APGE stock traded up $2.71 on Monday, reaching $47.21. The stock had a trading volume of 442,591 shares, compared to its average volume of 503,854. Apogee Therapeutics, Inc. has a 1 year low of $22.20 and a 1 year high of $72.29. The stock has a market cap of $2.13 billion, a P/E ratio of -18.39 and a beta of 2.30. The company has a 50 day simple moving average of $51.43 and a 200 day simple moving average of $48.30.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on APGE. Canaccord Genuity Group initiated coverage on Apogee Therapeutics in a research report on Monday, November 25th. They issued a "buy" rating and a $89.00 price objective for the company. Wedbush upped their target price on shares of Apogee Therapeutics from $87.00 to $90.00 and gave the stock an "outperform" rating in a research note on Monday, December 2nd. Guggenheim reiterated a "buy" rating on shares of Apogee Therapeutics in a research note on Thursday. Finally, Canaccord Genuity Group began coverage on shares of Apogee Therapeutics in a research note on Monday, November 25th. They issued a "buy" rating and a $89.00 price target for the company. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $83.88.

Hedge Funds Weigh In On Apogee Therapeutics

Large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new position in Apogee Therapeutics during the second quarter valued at approximately $143,000. Principal Financial Group Inc. raised its holdings in shares of Apogee Therapeutics by 26.3% in the second quarter. Principal Financial Group Inc. now owns 6,442 shares of the company's stock worth $253,000 after buying an additional 1,340 shares during the period. Victory Capital Management Inc. boosted its holdings in Apogee Therapeutics by 56.8% during the 2nd quarter. Victory Capital Management Inc. now owns 156,266 shares of the company's stock valued at $6,149,000 after acquiring an additional 56,607 shares during the period. Arizona State Retirement System boosted its position in Apogee Therapeutics by 4.5% in the 2nd quarter. Arizona State Retirement System now owns 5,993 shares of the company's stock valued at $236,000 after buying an additional 258 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in Apogee Therapeutics in the 2nd quarter worth about $272,000. 79.04% of the stock is currently owned by hedge funds and other institutional investors.

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.