Commonwealth Equity Services LLC Takes $222,000 Position in Apogee Therapeutics, Inc. (NASDAQ:APGE)

Commonwealth Equity Services LLC bought a new stake in shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 4,906 shares of the company’s stock, valued at approximately $222,000.

Several other hedge funds have also made changes to their positions in the stock. Erste Asset Management GmbH bought a new position in Apogee Therapeutics during the fourth quarter worth about $1,099,000. Swiss National Bank lifted its stake in shares of Apogee Therapeutics by 17.5% during the fourth quarter. Swiss National Bank now owns 44,300 shares of the company’s stock valued at $2,007,000 after acquiring an additional 6,600 shares during the period. Arizona State Retirement System boosted its stake in shares of Apogee Therapeutics by 17.3% in the 4th quarter. Arizona State Retirement System now owns 6,517 shares of the company’s stock valued at $295,000 after purchasing an additional 960 shares during the last quarter. Aigen Investment Management LP acquired a new stake in Apogee Therapeutics during the 4th quarter worth $216,000. Finally, New York State Common Retirement Fund lifted its stake in Apogee Therapeutics by 8.9% in the fourth quarter. New York State Common Retirement Fund now owns 12,187 shares of the company’s stock valued at $552,000 after buying an additional 1,000 shares during the period. Institutional investors own 79.04% of the company’s stock.

Insider Buying and Selling

In related news, insider Carl Dambkowski sold 1,590 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $30.48, for a total value of $48,463.20. Following the completion of the sale, the insider now directly owns 251,033 shares of the company’s stock, valued at approximately $7,651,485.84. This represents a 0.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Thomas Henderson sold 10,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $30.15, for a total transaction of $301,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,292,987 shares of the company’s stock, valued at $38,983,558.05. The trade was a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,970 shares of company stock valued at $1,241,701 over the last quarter. Insiders own 36.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on APGE. Citigroup began coverage on Apogee Therapeutics in a research note on Thursday, March 13th. They set a “buy” rating and a $95.00 price objective on the stock. Guggenheim reissued a “buy” rating on shares of Apogee Therapeutics in a research report on Monday, February 10th. Finally, Wedbush reissued an “outperform” rating and set a $90.00 price target on shares of Apogee Therapeutics in a report on Tuesday, March 11th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Apogee Therapeutics presently has an average rating of “Buy” and a consensus target price of $92.17.

Apogee Therapeutics Price Performance

APGE stock opened at $31.80 on Thursday. Apogee Therapeutics, Inc. has a 1 year low of $26.20 and a 1 year high of $63.50. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -13.14 and a beta of 1.72. The company has a 50 day simple moving average of $36.19 and a 200 day simple moving average of $44.66.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings results on Monday, March 3rd. The company reported ($1.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.25). On average, equities research analysts anticipate that Apogee Therapeutics, Inc. will post -3.09 EPS for the current fiscal year.

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.