Franklin Resources Inc. Decreases Stock Position in Apogee Therapeutics, Inc. (NASDAQ:APGE)

Franklin Resources Inc. lessened its holdings in Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report) by 14.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 860,989 shares of the company's stock after selling 144,481 shares during the quarter. Franklin Resources Inc. owned 1.91% of Apogee Therapeutics worth $48,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in APGE. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Apogee Therapeutics during the third quarter valued at about $71,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Apogee Therapeutics by 21.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company's stock valued at $94,000 after acquiring an additional 285 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Apogee Therapeutics during the 2nd quarter valued at approximately $143,000. Wexford Capital LP purchased a new stake in shares of Apogee Therapeutics during the 3rd quarter worth approximately $230,000. Finally, Arizona State Retirement System raised its holdings in shares of Apogee Therapeutics by 4.5% in the 2nd quarter. Arizona State Retirement System now owns 5,993 shares of the company's stock worth $236,000 after purchasing an additional 258 shares during the period. 79.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Canaccord Genuity Group started coverage on Apogee Therapeutics in a report on Monday, November 25th. They set a "buy" rating and a $89.00 price objective for the company. Canaccord Genuity Group began coverage on Apogee Therapeutics in a report on Monday, November 25th. They issued a "buy" rating and a $89.00 price objective for the company. Wedbush upped their price objective on shares of Apogee Therapeutics from $87.00 to $90.00 and gave the company an "outperform" rating in a report on Monday, December 2nd. Finally, Guggenheim reiterated a "buy" rating on shares of Apogee Therapeutics in a research note on Thursday, December 12th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $83.88.

Insider Buying and Selling at Apogee Therapeutics

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 40,000 shares of the firm's stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $56.23, for a total transaction of $2,249,200.00. Following the sale, the chief executive officer now owns 1,354,487 shares in the company, valued at $76,162,804.01. This trade represents a 2.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Carl Dambkowski sold 4,540 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $48.76, for a total value of $221,370.40. Following the completion of the sale, the insider now owns 258,073 shares of the company's stock, valued at $12,583,639.48. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 94,535 shares of company stock valued at $5,133,635 in the last 90 days. Corporate insiders own 36.10% of the company's stock.

Apogee Therapeutics Price Performance

Shares of NASDAQ:APGE opened at $48.09 on Wednesday. The company has a market cap of $2.17 billion, a price-to-earnings ratio of -19.87 and a beta of 2.30. Apogee Therapeutics, Inc. has a one year low of $22.20 and a one year high of $72.29. The firm has a fifty day moving average price of $51.11 and a two-hundred day moving average price of $48.32.

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.