Apogee Therapeutics Inc. $APGE Shares Sold by Braidwell LP

Braidwell LP trimmed its stake in Apogee Therapeutics Inc. (NASDAQ:APGE) by 4.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,478,512 shares of the company’s stock after selling 61,850 shares during the quarter. Apogee Therapeutics makes up about 2.2% of Braidwell LP’s investment portfolio, making the stock its 18th largest holding. Braidwell LP owned about 3.21% of Apogee Therapeutics worth $64,212,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Nisa Investment Advisors LLC lifted its position in Apogee Therapeutics by 99.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 769 shares of the company’s stock valued at $33,000 after purchasing an additional 383 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Apogee Therapeutics in the first quarter valued at approximately $42,000. AlphaQuest LLC bought a new stake in shares of Apogee Therapeutics during the first quarter valued at approximately $43,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Apogee Therapeutics by 18.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,779 shares of the company’s stock worth $77,000 after buying an additional 272 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in Apogee Therapeutics in the 2nd quarter worth approximately $218,000. Institutional investors own 79.04% of the company’s stock.

Apogee Therapeutics Stock Performance

Apogee Therapeutics stock opened at $77.08 on Friday. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of -17.60 and a beta of 1.41. Apogee Therapeutics Inc. has a 1 year low of $26.20 and a 1 year high of $78.12. The firm’s 50 day moving average price is $61.23 and its two-hundred day moving average price is $46.69.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings data on Monday, November 10th. The company reported ($1.11) EPS for the quarter, beating analysts’ consensus estimates of ($1.14) by $0.03. As a group, equities analysts predict that Apogee Therapeutics Inc. will post -3.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on APGE shares. Craig Hallum assumed coverage on shares of Apogee Therapeutics in a research note on Monday, November 3rd. They set a “buy” rating and a $109.00 price objective on the stock. Wall Street Zen downgraded shares of Apogee Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Apogee Therapeutics in a research note on Wednesday, October 8th. Citigroup reiterated a “buy” rating on shares of Apogee Therapeutics in a report on Thursday, August 28th. Finally, Royal Bank Of Canada boosted their target price on Apogee Therapeutics from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $98.89.

Insider Transactions at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 10,900 shares of the firm’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $75.00, for a total value of $817,500.00. Following the completion of the transaction, the insider directly owned 271,108 shares in the company, valued at $20,333,100. This trade represents a 3.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $75.38, for a total transaction of $1,507,600.00. Following the completion of the transaction, the chief executive officer directly owned 1,212,987 shares in the company, valued at approximately $91,434,960.06. This trade represents a 1.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 106,795 shares of company stock valued at $7,383,008 over the last ninety days. Insiders own 42.77% of the company’s stock.

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.