Allspring Global Investments Holdings LLC Buys New Stake in Apogee Therapeutics Inc. $APGE

Allspring Global Investments Holdings LLC bought a new stake in Apogee Therapeutics Inc. (NASDAQ:APGE) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 4,931 shares of the company’s stock, valued at approximately $218,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in shares of Apogee Therapeutics in the first quarter worth $42,000. AlphaQuest LLC acquired a new position in shares of Apogee Therapeutics in the first quarter worth $43,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Apogee Therapeutics by 18.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,779 shares of the company’s stock worth $77,000 after acquiring an additional 272 shares in the last quarter. Birchview Capital LP acquired a new position in shares of Apogee Therapeutics in the first quarter worth $299,000. Finally, XTX Topco Ltd grew its stake in shares of Apogee Therapeutics by 170.8% in the first quarter. XTX Topco Ltd now owns 17,188 shares of the company’s stock worth $642,000 after acquiring an additional 10,840 shares in the last quarter. Institutional investors and hedge funds own 79.04% of the company’s stock.

Insider Activity at Apogee Therapeutics

In other news, insider Carl Dambkowski sold 5,110 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $39.80, for a total value of $203,378.00. Following the completion of the sale, the insider directly owned 284,733 shares of the company’s stock, valued at approximately $11,332,373.40. This represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 10,560 shares of company stock valued at $409,524 over the last three months. 42.77% of the stock is currently owned by corporate insiders.

Apogee Therapeutics Stock Performance

Shares of NASDAQ:APGE opened at $53.32 on Friday. The company has a 50-day simple moving average of $41.94 and a 200-day simple moving average of $39.76. Apogee Therapeutics Inc. has a one year low of $26.20 and a one year high of $63.50. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of -12.91 and a beta of 1.43.

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

Wall Street Analysts Forecast Growth

APGE has been the subject of several research reports. Royal Bank Of Canada initiated coverage on shares of Apogee Therapeutics in a research note on Thursday, September 25th. They issued an “outperform” rating and a $60.00 price target for the company. Mizuho initiated coverage on shares of Apogee Therapeutics in a research note on Tuesday, October 21st. They issued an “outperform” rating and a $105.00 price target for the company. Bank of America boosted their price target on shares of Apogee Therapeutics from $78.00 to $87.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. BTIG Research reaffirmed a “buy” rating and set a $115.00 price objective on shares of Apogee Therapeutics in a research report on Thursday, October 9th. Finally, Zacks Research cut shares of Apogee Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Apogee Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $94.00.

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.