Wellington Management Group LLP Buys 1,267,451 Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE)

Wellington Management Group LLP lifted its position in shares of Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report) by 35.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,814,400 shares of the company's stock after acquiring an additional 1,267,451 shares during the quarter. Wellington Management Group LLP owned approximately 10.69% of Apogee Therapeutics worth $282,798,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Apogee Therapeutics during the 3rd quarter worth approximately $71,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Apogee Therapeutics by 21.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company's stock worth $94,000 after acquiring an additional 285 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Apogee Therapeutics during the 2nd quarter valued at $143,000. Wexford Capital LP acquired a new position in shares of Apogee Therapeutics in the 3rd quarter valued at $230,000. Finally, Intech Investment Management LLC bought a new position in shares of Apogee Therapeutics in the 3rd quarter worth $300,000. Institutional investors and hedge funds own 79.04% of the company's stock.

Apogee Therapeutics Price Performance

Shares of Apogee Therapeutics stock traded up $2.81 on Friday, hitting $49.97. The company had a trading volume of 438,600 shares, compared to its average volume of 504,758. Apogee Therapeutics, Inc. has a twelve month low of $19.91 and a twelve month high of $72.29. The stock has a 50-day moving average of $52.41 and a 200-day moving average of $48.30. The firm has a market capitalization of $2.25 billion, a P/E ratio of -20.65 and a beta of 2.30.

Insider Buying and Selling

In other Apogee Therapeutics news, insider Carl Dambkowski sold 6,665 shares of the business's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.07, for a total value of $307,056.55. Following the sale, the insider now owns 260,798 shares in the company, valued at approximately $12,014,963.86. The trade was a 2.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael Thomas Henderson sold 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $59.22, for a total transaction of $888,300.00. Following the transaction, the chief executive officer now directly owns 1,339,487 shares of the company's stock, valued at $79,324,420.14. This represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,995 shares of company stock valued at $4,912,264. Company insiders own 36.10% of the company's stock.

Analysts Set New Price Targets

APGE has been the topic of several analyst reports. Guggenheim reissued a "buy" rating and issued a $110.00 target price (up previously from $95.00) on shares of Apogee Therapeutics in a research note on Tuesday, December 3rd. Canaccord Genuity Group started coverage on shares of Apogee Therapeutics in a research report on Monday, November 25th. They issued a "buy" rating and a $89.00 price target on the stock. Canaccord Genuity Group began 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. Finally, Wedbush increased their target price on shares of Apogee Therapeutics from $87.00 to $90.00 and gave the stock an "outperform" rating in a report on Monday, December 2nd. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Apogee Therapeutics has a consensus rating of "Buy" and an average price target of $83.88.

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.