Point72 Asset Management L.P. Increases Stock Holdings in Apogee Therapeutics, Inc. (NASDAQ:APGE)

Point72 Asset Management L.P. increased its stake in shares of Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report) by 162.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 707,268 shares of the company's stock after purchasing an additional 438,036 shares during the period. Point72 Asset Management L.P. owned 1.57% of Apogee Therapeutics worth $41,545,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in APGE. Arizona State Retirement System raised its position in shares of Apogee Therapeutics by 4.5% in the second quarter. Arizona State Retirement System now owns 5,993 shares of the company's stock worth $236,000 after buying an additional 258 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Apogee Therapeutics by 21.2% in the 3rd 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Apogee Therapeutics during the 3rd quarter valued at about $71,000. Principal Financial Group Inc. grew its holdings in shares of Apogee Therapeutics by 26.3% during the second quarter. Principal Financial Group Inc. now owns 6,442 shares of the company's stock worth $253,000 after purchasing an additional 1,340 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of Apogee Therapeutics by 25.7% during the third quarter. Handelsbanken Fonder AB now owns 8,800 shares of the company's stock worth $517,000 after purchasing an additional 1,800 shares in the last quarter. Institutional investors own 79.04% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on APGE shares. Wedbush lifted their target price on shares of Apogee Therapeutics from $87.00 to $90.00 and gave the company an "outperform" rating in a research report on Monday. Canaccord Genuity Group assumed coverage on shares of 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 assumed coverage on Apogee Therapeutics in a research note on Monday, November 25th. They issued a "buy" rating and a $89.00 target price on the stock. Finally, Guggenheim reiterated a "buy" rating and issued a $110.00 price objective (up from $95.00) on shares of Apogee Therapeutics in a report on Tuesday. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $83.88.

Insider Buying and Selling at Apogee Therapeutics

In other news, insider Carl Dambkowski sold 6,665 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $59.12, for a total transaction of $394,034.80. Following the completion of the sale, the insider now owns 267,463 shares of the company's stock, valued at approximately $15,812,412.56. This represents a 2.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Thomas Henderson sold 40,000 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $56.23, for a total value of $2,249,200.00. Following the sale, the chief executive officer now directly owns 1,354,487 shares of the company's stock, valued at approximately $76,162,804.01. This trade represents a 2.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,330 shares of company stock worth $3,906,508 over the last ninety days. Insiders own 36.10% of the company's stock.

Apogee Therapeutics Price Performance

NASDAQ APGE traded down $4.86 on Thursday, reaching $47.16. 791,874 shares of the company's stock traded hands, compared to its average volume of 499,529. Apogee Therapeutics, Inc. has a 12 month low of $19.91 and a 12 month high of $72.29. The stock has a 50-day simple moving average of $52.78 and a 200 day simple moving average of $48.33. The stock has a market cap of $2.12 billion, a PE ratio of -19.76 and a beta of 2.30.

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.