State Street Corp Cuts Holdings in Apogee Therapeutics, Inc. (NASDAQ:APGE)

State Street Corp lessened its holdings in shares of Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report) by 9.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,411,639 shares of the company's stock after selling 149,723 shares during the quarter. State Street Corp owned approximately 3.13% of Apogee Therapeutics worth $82,920,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of APGE. Allspring Global Investments Holdings LLC acquired a new position in Apogee Therapeutics during the second quarter worth about $143,000. Principal Financial Group Inc. boosted its holdings in shares of Apogee Therapeutics by 26.3% during the 2nd 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 during the last quarter. Victory Capital Management Inc. grew its position in shares of Apogee Therapeutics by 56.8% in the second quarter. Victory Capital Management Inc. now owns 156,266 shares of the company's stock valued at $6,149,000 after purchasing an additional 56,607 shares in the last quarter. Arizona State Retirement System increased its holdings 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 valued at $236,000 after purchasing an additional 258 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in Apogee Therapeutics during the second quarter worth approximately $272,000. Hedge funds and other institutional investors own 79.04% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on APGE shares. Canaccord Genuity Group began 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. 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. Canaccord Genuity Group initiated coverage on shares of Apogee Therapeutics in a research report on Monday, November 25th. They set a "buy" rating and a $89.00 price objective for the company. Finally, Guggenheim reiterated a "buy" rating on shares of Apogee Therapeutics in a report on Thursday, December 12th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Apogee Therapeutics has an average rating of "Buy" and a consensus price target of $83.88.

Apogee Therapeutics Stock Up 1.9 %

APGE stock traded up $0.88 during mid-day trading on Tuesday, hitting $48.09. 365,189 shares of the company were exchanged, compared to its average volume of 503,305. Apogee Therapeutics, Inc. has a 12-month low of $22.20 and a 12-month high of $72.29. The firm has a market capitalization of $2.17 billion, a P/E ratio of -19.87 and a beta of 2.30. The business has a fifty day simple moving average of $51.11 and a 200-day simple moving average of $48.32.

Insider Activity at Apogee Therapeutics

In other news, Director Mark C. Mckenna bought 20,000 shares of the company's stock in a transaction on Thursday, December 12th. The stock was bought at an average cost of $49.54 per share, with a total value of $990,800.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at $990,800. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Thomas Henderson sold 40,000 shares of the 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 directly owns 1,354,487 shares in the company, valued at $76,162,804.01. This represents a 2.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 94,535 shares of company stock worth $5,133,635. Insiders own 36.10% of the company's stock.

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.