Apogee Therapeutics, Inc. (NASDAQ:APGE) Shares Purchased by Paradigm Biocapital Advisors LP

Paradigm Biocapital Advisors LP lifted its stake in Apogee Therapeutics, Inc. (NASDAQ:APGE) by 82.9% in the fourth quarter, HoldingsChannel reports. The firm owned 1,283,766 shares of the company’s stock after acquiring an additional 581,949 shares during the quarter. Apogee Therapeutics makes up about 2.0% of Paradigm Biocapital Advisors LP’s investment portfolio, making the stock its 15th biggest position. Paradigm Biocapital Advisors LP’s holdings in Apogee Therapeutics were worth $58,155,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Optimize Financial Inc purchased a new stake in shares of Apogee Therapeutics in the 4th quarter valued at approximately $203,000. Aigen Investment Management LP acquired a new position in shares of Apogee Therapeutics during the 4th quarter worth about $216,000. BNP Paribas Financial Markets purchased a new position in shares of Apogee Therapeutics in the 4th quarter valued at about $219,000. Commonwealth Equity Services LLC acquired a new stake in shares of Apogee Therapeutics during the 4th quarter worth about $222,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Apogee Therapeutics during the 4th quarter worth about $226,000. Institutional investors and hedge funds own 79.04% of the company’s stock.

Apogee Therapeutics Trading Up 0.4%

NASDAQ:APGE opened at $39.74 on Wednesday. The firm has a market cap of $1.78 billion, a P/E ratio of -16.42 and a beta of 1.70. The stock’s 50 day simple moving average is $36.51 and its 200-day simple moving average is $41.41. Apogee Therapeutics, Inc. has a 12-month low of $26.20 and a 12-month high of $63.50.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.95) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.19) by $0.24. Research analysts forecast that Apogee Therapeutics, Inc. will post -3.09 EPS for the current fiscal year.

Analyst Ratings Changes

APGE has been the topic of a number of research analyst reports. Guggenheim reissued a “buy” rating on shares of Apogee Therapeutics in a report on Monday, February 10th. Wedbush reissued an “outperform” rating and issued a $90.00 price target on shares of Apogee Therapeutics in a research report on Tuesday, March 11th. Finally, Citigroup initiated coverage on shares of Apogee Therapeutics in a research note on Thursday, March 13th. They issued a “buy” rating and a $95.00 price objective for the company. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Apogee Therapeutics has an average rating of “Buy” and a consensus target price of $94.60.

Insider Activity at Apogee Therapeutics

In related news, CEO Michael Thomas Henderson sold 10,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $30.15, for a total value of $301,500.00. Following the completion of the transaction, the chief executive officer now owns 1,292,987 shares of the company’s stock, valued at approximately $38,983,558.05. The trade was a 0.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Carl Dambkowski sold 1,590 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $30.48, for a total transaction of $48,463.20. Following the sale, the insider now directly owns 251,033 shares in the company, valued at $7,651,485.84. This represents a 0.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,175 shares of company stock worth $587,191 over the last 90 days. Company 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.