Erste Asset Management GmbH Buys New Stake in Apogee Therapeutics, Inc. (NASDAQ:APGE)

Erste Asset Management GmbH purchased a new position in shares of Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 24,000 shares of the company's stock, valued at approximately $1,099,000. Erste Asset Management GmbH owned about 0.05% of Apogee Therapeutics at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of APGE. Victory Capital Management Inc. lifted its holdings in Apogee Therapeutics by 121.6% during the 3rd quarter. Victory Capital Management Inc. now owns 346,358 shares of the company's stock worth $20,345,000 after buying an additional 190,092 shares during the last quarter. Natixis Advisors LLC purchased a new stake in shares of Apogee Therapeutics in the 3rd quarter valued at about $879,000. Jennison Associates LLC lifted its holdings in shares of Apogee Therapeutics by 2.1% in the 3rd quarter. Jennison Associates LLC now owns 312,611 shares of the company's stock valued at $18,363,000 after purchasing an additional 6,533 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Apogee Therapeutics in the 3rd quarter valued at about $300,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Apogee Therapeutics by 17.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 280,428 shares of the company's stock valued at $16,472,000 after purchasing an additional 41,686 shares during the last quarter. 79.04% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Michael Thomas Henderson sold 15,000 shares of the company's stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $48.85, for a total value of $732,750.00. Following the sale, the chief executive officer now owns 1,309,487 shares in the company, valued at $63,968,439.95. This represents a 1.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Carl Dambkowski sold 4,085 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $46.94, for a total value of $191,749.90. Following the completion of the sale, the insider now owns 255,348 shares in the company, valued at approximately $11,986,035.12. This represents a 1.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,195 shares of company stock worth $2,026,392. Company insiders own 36.10% of the company's stock.

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Apogee Therapeutics Stock Up 4.2 %

APGE stock traded up $1.61 during trading on Friday, hitting $39.94. The company had a trading volume of 665,998 shares, compared to its average volume of 479,296. The firm has a 50-day moving average price of $38.21 and a 200-day moving average price of $46.59. Apogee Therapeutics, Inc. has a 1-year low of $29.10 and a 1-year high of $71.75. The firm has a market cap of $1.80 billion, a PE ratio of -16.50 and a beta of 2.46.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last released its earnings results on Monday, March 3rd. The company reported ($1.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.94) by ($0.25). Sell-side analysts anticipate that Apogee Therapeutics, Inc. will post -3.09 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Wedbush reissued an "outperform" rating and issued a $90.00 target price on shares of Apogee Therapeutics in a report on Tuesday, March 11th. Canaccord Genuity Group assumed coverage on Apogee Therapeutics in a report on Monday, November 25th. They issued a "buy" rating and a $89.00 target price for the company. Guggenheim reissued a "buy" rating on shares of Apogee Therapeutics in a report on Monday, February 10th. Canaccord Genuity Group began coverage on Apogee Therapeutics in a research report on Monday, November 25th. They issued a "buy" rating and a $89.00 price target on the stock. Finally, Citigroup began coverage on Apogee Therapeutics in a research report on Thursday. They issued a "buy" rating and a $95.00 price target on the stock. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Apogee Therapeutics has an average rating of "Buy" and an average price target of $92.17.

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.