Jennison Associates LLC Buys Shares of 103,744 Apogee Therapeutics, Inc. (NASDAQ:APGE)

Jennison Associates LLC purchased a new position in Apogee Therapeutics, Inc. (NASDAQ:APGE) in the fourth quarter, Holdings Channel.com reports. The firm purchased 103,744 shares of the company’s stock, valued at approximately $2,899,000.

Several other hedge funds have also recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. bought a new position in Apogee Therapeutics during the fourth quarter valued at approximately $155,000. SG Americas Securities LLC raised its stake in Apogee Therapeutics by 34.0% during the 4th quarter. SG Americas Securities LLC now owns 6,607 shares of the company’s stock valued at $185,000 after buying an additional 1,676 shares during the last quarter. Vanguard Group Inc. bought a new position in shares of Apogee Therapeutics during the 3rd quarter valued at $23,894,000. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Apogee Therapeutics in the 3rd quarter worth $474,000. Finally, Wellington Management Group LLP bought a new stake in shares of Apogee Therapeutics in the third quarter worth $33,037,000. 79.04% of the stock is owned by hedge funds and other institutional investors.

Apogee Therapeutics Stock Performance

NASDAQ APGE opened at $47.13 on Friday. Apogee Therapeutics, Inc. has a 12 month low of $14.19 and a 12 month high of $72.29. The company’s 50 day moving average is $54.24 and its two-hundred day moving average is $35.05.

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

Analyst Ratings Changes

APGE has been the topic of a number of recent research reports. Wedbush reissued an “outperform” rating and issued a $87.00 target price (up previously from $40.00) on shares of Apogee Therapeutics in a report on Tuesday, March 5th. Stifel Nicolaus increased their price objective on shares of Apogee Therapeutics from $46.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Jefferies Financial Group boosted their target price on shares of Apogee Therapeutics from $37.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, Guggenheim upped their target price on shares of Apogee Therapeutics from $44.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Apogee Therapeutics presently has an average rating of “Buy” and a consensus price target of $71.83.

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.