Intech Investment Management LLC Raises Stock Position in Apogee Therapeutics, Inc. (NASDAQ:APGE)

Intech Investment Management LLC lifted its stake in Apogee Therapeutics, Inc. (NASDAQ:APGE) by 232.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,934 shares of the company’s stock after purchasing an additional 11,834 shares during the period. Intech Investment Management LLC’s holdings in Apogee Therapeutics were worth $767,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Apogee Therapeutics in the third quarter worth about $71,000. Wexford Capital LP bought a new position in shares of Apogee Therapeutics in the 3rd quarter worth approximately $230,000. Aigen Investment Management LP purchased a new position in shares of Apogee Therapeutics in the 4th quarter valued at approximately $216,000. Commonwealth Equity Services LLC bought a new stake in shares of Apogee Therapeutics during the fourth quarter valued at approximately $222,000. Finally, Arizona State Retirement System grew its stake in Apogee Therapeutics by 17.3% in the fourth quarter. Arizona State Retirement System now owns 6,517 shares of the company’s stock worth $295,000 after purchasing an additional 960 shares during the period. Institutional investors own 79.04% of the company’s stock.

Wall Street Analysts Forecast Growth

APGE has been the topic of a number of research reports. Canaccord Genuity Group began coverage on shares of Apogee Therapeutics in a report on Monday, November 25th. They set a “buy” rating and a $89.00 target price on the stock. Guggenheim reissued a “buy” rating on shares of Apogee Therapeutics in a research report on Monday, February 10th. Canaccord Genuity Group assumed coverage on shares of Apogee Therapeutics in a report on Monday, November 25th. They issued a “buy” rating and a $89.00 price objective on the stock. Citigroup began coverage on shares of Apogee Therapeutics in a report on Thursday, March 13th. They set a “buy” rating and a $95.00 target price for the company. Finally, Wedbush restated an “outperform” rating and issued a $90.00 price target on shares of Apogee Therapeutics in a research note on Tuesday, March 11th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $92.17.

Insiders Place Their Bets

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 10,000 shares of Apogee Therapeutics 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 owns 1,292,987 shares of the company’s stock, valued at approximately $38,983,558.05. The trade was a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Carl Dambkowski sold 3,520 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $40.69, for a total value of $143,228.80. Following the transaction, the insider now directly owns 252,623 shares in the company, valued at $10,279,229.87. The trade was a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,195 shares of company stock valued at $2,026,392. 36.10% of the stock is owned by insiders.

Apogee Therapeutics Stock Down 1.3 %

Shares of APGE opened at $39.84 on Monday. Apogee Therapeutics, Inc. has a twelve month low of $29.10 and a twelve month high of $70.56. The company has a market capitalization of $1.79 billion, a P/E ratio of -16.46 and a beta of 2.46. The firm has a 50 day moving average of $37.46 and a 200 day moving average of $46.25.

Apogee Therapeutics (NASDAQ:APGE) last posted its earnings results on Monday, March 3rd. The company reported ($1.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.25). On average, sell-side analysts expect that Apogee Therapeutics, Inc. will post -3.09 EPS for the current year.

Apogee Therapeutics 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.