AlphaQuest LLC Takes Position in Apogee Therapeutics Inc. $APGE

AlphaQuest LLC acquired a new stake in Apogee Therapeutics Inc. (NASDAQ:APGE) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,141 shares of the company’s stock, valued at approximately $43,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. The Manufacturers Life Insurance Company grew its position in Apogee Therapeutics by 29.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 87,953 shares of the company’s stock worth $3,984,000 after buying an additional 19,965 shares during the last quarter. Northern Trust Corp lifted its position in shares of Apogee Therapeutics by 6.8% during the 4th quarter. Northern Trust Corp now owns 327,292 shares of the company’s stock valued at $14,826,000 after acquiring an additional 20,743 shares during the last quarter. Ameriprise Financial Inc. acquired a new stake in shares of Apogee Therapeutics during the 4th quarter valued at $259,000. BNP Paribas Financial Markets acquired a new stake in shares of Apogee Therapeutics during the 4th quarter valued at $219,000. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Apogee Therapeutics by 8.6% during the 4th quarter. Cubist Systematic Strategies LLC now owns 91,213 shares of the company’s stock valued at $4,132,000 after acquiring an additional 7,236 shares during the last quarter. 79.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Guggenheim reiterated a “buy” rating and set a $116.00 price objective on shares of Apogee Therapeutics in a research report on Wednesday, July 2nd. Citigroup reiterated a “buy” rating on shares of Apogee Therapeutics in a research report on Thursday, August 28th. Zacks Research lowered shares of Apogee Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 14th. BTIG Research raised their price objective on shares of Apogee Therapeutics from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 7th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $90.00 price objective on shares of Apogee Therapeutics in a research note on Monday, August 11th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Apogee Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $97.29.

Apogee Therapeutics Stock Performance

Apogee Therapeutics stock opened at $37.13 on Friday. The company has a 50 day moving average price of $38.65 and a 200 day moving average price of $37.74. Apogee Therapeutics Inc. has a 52 week low of $26.20 and a 52 week high of $63.50. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of -8.99 and a beta of 1.42.

Apogee Therapeutics (NASDAQ:APGE) last released its earnings results on Monday, August 11th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.10). Equities analysts forecast that Apogee Therapeutics Inc. will post -3.09 earnings per share for the current fiscal year.

Insider Transactions at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 2,725 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $37.78, for a total value of $102,950.50. Following the completion of the sale, the insider owned 236,273 shares in the company, valued at $8,926,393.94. This represents a 1.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 42.77% of the stock is currently owned by insiders.

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.