Apogee Therapeutics, Inc. (NASDAQ:APGE) Short Interest Up 11.2% in November

Apogee Therapeutics, Inc. (NASDAQ:APGE) saw a significant growth in short interest in November. As of November 30th, there was short interest totalling 7,360,000 shares, a growth of 11.2% from the November 15th total of 6,620,000 shares. Approximately 20.3% of the shares of the stock are sold short. Based on an average daily volume of 458,200 shares, the short-interest ratio is presently 16.1 days.

Apogee Therapeutics Stock Up 6.1 %

Shares of APGE opened at $47.21 on Tuesday. Apogee Therapeutics has a fifty-two week low of $22.20 and a fifty-two week high of $72.29. The company’s fifty day moving average is $51.27 and its two-hundred day moving average is $48.31. The firm has a market cap of $2.13 billion, a PE ratio of -19.51 and a beta of 2.30.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on APGE shares. Canaccord Genuity Group started coverage on shares of Apogee Therapeutics in a report on Monday, November 25th. They set a “buy” rating and a $89.00 price target for the company. Wedbush lifted their target price on shares of Apogee Therapeutics from $87.00 to $90.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Guggenheim reiterated a “buy” rating on shares of Apogee Therapeutics in a report on Thursday, December 12th. Finally, Canaccord Genuity Group began coverage on Apogee Therapeutics in a report on Monday, November 25th. They set a “buy” rating and a $89.00 price objective on the stock. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $83.88.

Insider Buying and Selling at Apogee Therapeutics

In other news, insider Carl Dambkowski sold 6,665 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $56.26, for a total value of $374,972.90. Following the completion of the transaction, the insider now directly owns 274,128 shares of the company’s stock, valued at $15,422,441.28. The trade was a 2.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mark C. Mckenna acquired 20,000 shares of Apogee Therapeutics stock in a transaction dated Thursday, December 12th. The stock was bought at an average price of $49.54 per share, for a total transaction of $990,800.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $990,800. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 94,535 shares of company stock valued at $5,133,635 over the last quarter. Corporate insiders own 36.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in APGE. Wellington Management Group LLP raised its holdings in Apogee Therapeutics by 35.7% in the third quarter. Wellington Management Group LLP now owns 4,814,400 shares of the company’s stock valued at $282,798,000 after buying an additional 1,267,451 shares during the period. Driehaus Capital Management LLC increased its position in shares of Apogee Therapeutics by 2.6% in the second quarter. Driehaus Capital Management LLC now owns 2,117,870 shares of the company’s stock worth $83,338,000 after acquiring an additional 54,107 shares in the last quarter. Perceptive Advisors LLC increased its position in shares of Apogee Therapeutics by 2.2% in the second quarter. Perceptive Advisors LLC now owns 2,105,636 shares of the company’s stock worth $82,857,000 after acquiring an additional 45,241 shares in the last quarter. Affinity Asset Advisors LLC raised its stake in shares of Apogee Therapeutics by 41.2% in the 2nd quarter. Affinity Asset Advisors LLC now owns 836,283 shares of the company’s stock valued at $32,908,000 after acquiring an additional 244,190 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Apogee Therapeutics by 11.2% during the 3rd quarter. Geode Capital Management LLC now owns 823,839 shares of the company’s stock valued at $48,401,000 after acquiring an additional 82,978 shares in the last quarter. 79.04% of the stock is owned by hedge funds and other institutional investors.

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.