Apogee Therapeutics, Inc. (NASDAQ:APGE) Shares Bought by Paradigm Biocapital Advisors LP

Paradigm Biocapital Advisors LP raised its holdings in shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) by 82.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,283,766 shares of the company’s stock after purchasing an additional 581,949 shares during the period. Apogee Therapeutics accounts for approximately 2.0% of Paradigm Biocapital Advisors LP’s investment portfolio, making the stock its 15th biggest holding. Paradigm Biocapital Advisors LP owned about 2.85% of Apogee Therapeutics worth $58,155,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Barclays PLC grew its stake in Apogee Therapeutics by 369.2% during the 3rd quarter. Barclays PLC now owns 365,046 shares of the company’s stock worth $21,443,000 after buying an additional 287,243 shares during the last quarter. Swiss National Bank boosted its holdings in Apogee Therapeutics by 17.5% in the fourth quarter. Swiss National Bank now owns 44,300 shares of the company’s stock worth $2,007,000 after acquiring an additional 6,600 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Apogee Therapeutics by 22.2% during the fourth quarter. SG Americas Securities LLC now owns 9,890 shares of the company’s stock worth $448,000 after acquiring an additional 1,796 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Apogee Therapeutics by 26.1% during the fourth quarter. JPMorgan Chase & Co. now owns 37,255 shares of the company’s stock valued at $1,688,000 after acquiring an additional 7,700 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Apogee Therapeutics during the fourth quarter valued at about $226,000. 79.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on APGE. Wedbush reissued an “outperform” rating and set a $90.00 target price on shares of Apogee Therapeutics in a research report on Tuesday, March 11th. Citigroup began coverage on Apogee Therapeutics in a research note on Thursday, March 13th. They issued a “buy” rating and a $95.00 target price for the company. Finally, Guggenheim reiterated a “buy” rating on shares of Apogee Therapeutics in a research note on Monday, February 10th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $94.60.

Insider Activity at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 3,860 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $36.22, for a total value of $139,809.20. Following the completion of the transaction, the insider now owns 247,173 shares of the company’s stock, valued at approximately $8,952,606.06. This represents a 1.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Thomas Henderson sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $30.15, for a total value of $301,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,292,987 shares in the company, valued at approximately $38,983,558.05. The trade was a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,175 shares of company stock worth $587,191 in the last three months. Company insiders own 36.10% of the company’s stock.

Apogee Therapeutics Price Performance

NASDAQ:APGE opened at $39.74 on Wednesday. The company’s fifty day moving average price is $36.51 and its 200-day moving average price is $41.41. Apogee Therapeutics, Inc. has a 1-year low of $26.20 and a 1-year high of $63.50. The firm has a market capitalization of $1.78 billion, a P/E ratio of -16.42 and a beta of 1.70.

Apogee Therapeutics (NASDAQ:APGE) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.95) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.19) by $0.24. Equities analysts anticipate that Apogee Therapeutics, Inc. will post -3.09 EPS for the current fiscal year.

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.