Vanguard Group Inc. Makes New Investment in Apogee Therapeutics, Inc. (NASDAQ:APGE)

Vanguard Group Inc. acquired a new stake in shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,121,764 shares of the company’s stock, valued at approximately $23,894,000. Vanguard Group Inc. owned about 2.21% of Apogee Therapeutics as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in APGE. SG Americas Securities LLC acquired a new position in shares of Apogee Therapeutics during the third quarter valued at about $105,000. Bank of New York Mellon Corp acquired a new position in shares of Apogee Therapeutics during the third quarter valued at about $1,271,000. Strs Ohio acquired a new position in shares of Apogee Therapeutics during the third quarter valued at about $87,000. TD Asset Management Inc acquired a new position in shares of Apogee Therapeutics during the third quarter valued at about $677,000. Finally, Platinum Investment Management Ltd. acquired a new position in shares of Apogee Therapeutics during the third quarter valued at about $6,042,000. Institutional investors and hedge funds own 79.04% of the company’s stock.

Apogee Therapeutics Stock Down 5.2 %

Shares of Apogee Therapeutics stock opened at $55.05 on Friday. Apogee Therapeutics, Inc. has a 1-year low of $14.19 and a 1-year high of $72.29. The firm’s 50-day moving average price is $51.89 and its two-hundred day moving average price is $33.39.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings data on Tuesday, March 5th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.13. Research analysts anticipate that Apogee Therapeutics, Inc. will post -2.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on APGE. Guggenheim upped their price objective on shares of Apogee Therapeutics from $44.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Stifel Nicolaus upped their target price on shares of Apogee Therapeutics from $46.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Wedbush reissued an “outperform” rating and issued a $87.00 target price (up previously from $40.00) on shares of Apogee Therapeutics in a research note on Tuesday, March 5th. BTIG Research assumed coverage on shares of Apogee Therapeutics in a research note on Wednesday, December 20th. They issued a “buy” rating and a $43.00 target price on the stock. Finally, Jefferies Financial Group upped their target price on shares of Apogee Therapeutics from $37.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Apogee Therapeutics has a consensus rating of “Buy” and a consensus target price of $71.83.

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.