Braidwell LP Lowers Position in Apogee Therapeutics, Inc. (NASDAQ:APGE)

Braidwell LP reduced its stake in Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report) by 31.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,643,226 shares of the company's stock after selling 748,816 shares during the period. Apogee Therapeutics makes up about 2.7% of Braidwell LP's holdings, making the stock its 11th largest holding. Braidwell LP owned about 3.65% of Apogee Therapeutics worth $96,523,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Apogee Therapeutics by 60.7% during the first quarter. Vanguard Group Inc. now owns 1,868,666 shares of the company's stock worth $124,173,000 after buying an additional 705,795 shares during the period. Waypoint Capital Advisors LLC acquired a new position in Apogee Therapeutics during the 3rd quarter worth approximately $36,835,000. 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 in the last quarter. Victory Capital Management Inc. increased its position in shares of Apogee Therapeutics by 121.6% in the 3rd quarter. Victory Capital Management Inc. now owns 346,358 shares of the company's stock valued at $20,345,000 after purchasing an additional 190,092 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Apogee Therapeutics in the 2nd quarter valued at $5,908,000. 79.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Apogee Therapeutics news, insider Carl Dambkowski sold 6,665 shares of the company's stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $56.26, for a total transaction of $374,972.90. Following the completion of the sale, the insider now directly owns 274,128 shares of the company's stock, valued at $15,422,441.28. This represents a 2.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Thomas Henderson sold 40,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $47.62, for a total value of $1,904,800.00. Following the sale, the chief executive officer now directly owns 1,394,487 shares of the company's stock, valued at $66,405,470.94. The trade was a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 114,995 shares of company stock valued at $6,128,295. 36.10% of the stock is currently owned by company insiders.

Apogee Therapeutics Trading Up 1.0 %

Shares of NASDAQ APGE traded up $0.45 during trading hours on Friday, reaching $45.15. The stock had a trading volume of 207,993 shares, compared to its average volume of 493,423. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of -18.66 and a beta of 2.93. Apogee Therapeutics, Inc. has a fifty-two week low of $17.17 and a fifty-two week high of $72.29. The firm has a 50-day moving average of $53.40 and a 200-day moving average of $48.46.

Wall Street Analysts Forecast Growth

Several research firms recently commented on APGE. Canaccord Genuity Group initiated coverage on Apogee Therapeutics in a report on Monday, November 25th. They issued a "buy" rating and a $89.00 target price on the stock. Guggenheim upped their price objective on Apogee Therapeutics from $95.00 to $110.00 and gave the stock a "buy" rating in a research report on Wednesday. Canaccord Genuity Group started coverage on Apogee Therapeutics in a research report on Monday, November 25th. They set a "buy" rating and a $89.00 target price on the stock. Finally, Wedbush reaffirmed an "outperform" rating and issued a $87.00 price target on shares of Apogee Therapeutics in a report on Tuesday, November 12th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $83.50.

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.