Apogee Therapeutics, Inc. (NASDAQ:APGE) Director Mark C. Mckenna Purchases 20,000 Shares

Apogee Therapeutics, Inc. (NASDAQ:APGE) Director Mark C. Mckenna bought 20,000 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were acquired at an average cost of $49.54 per share, for a total transaction of $990,800.00. Following the purchase, the director now directly owns 20,000 shares in the company, valued at $990,800. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Apogee Therapeutics Trading Up 6.1 %

NASDAQ:APGE opened at $47.21 on Tuesday. The company has a 50-day moving average of $51.27 and a 200-day moving average of $48.31. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of -19.51 and a beta of 2.30. Apogee Therapeutics, Inc. has a twelve month low of $22.20 and a twelve month high of $72.29.

Institutional Trading of Apogee Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Arizona State Retirement System increased its holdings in shares of Apogee Therapeutics by 4.5% in the second quarter. Arizona State Retirement System now owns 5,993 shares of the company’s stock valued at $236,000 after buying an additional 258 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Apogee Therapeutics by 21.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company’s stock worth $94,000 after acquiring an additional 285 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Apogee Therapeutics during the third quarter worth $71,000. Principal Financial Group Inc. lifted its holdings in shares of Apogee Therapeutics by 26.3% during the second quarter. Principal Financial Group Inc. now owns 6,442 shares of the company’s stock valued at $253,000 after purchasing an additional 1,340 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Apogee Therapeutics by 25.7% during the third quarter. Handelsbanken Fonder AB now owns 8,800 shares of the company’s stock valued at $517,000 after purchasing an additional 1,800 shares during the last quarter. 79.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

About Apogee Therapeutics

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.