Alliancebernstein L.P. Increases Stock Position in Apogee Therapeutics, Inc. (NASDAQ:APGE)

Alliancebernstein L.P. boosted its holdings in Apogee Therapeutics, Inc. (NASDAQ:APGE) by 13.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,355,185 shares of the company’s stock after purchasing an additional 160,822 shares during the quarter. Alliancebernstein L.P.’s holdings in Apogee Therapeutics were worth $61,390,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Apogee Therapeutics in the third quarter valued at $71,000. Wexford Capital LP purchased a new position in shares of Apogee Therapeutics during the third quarter worth about $230,000. Aigen Investment Management LP acquired a new position in Apogee Therapeutics in the 4th quarter valued at about $216,000. Commonwealth Equity Services LLC purchased a new stake in Apogee Therapeutics during the 4th quarter valued at approximately $222,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Apogee Therapeutics during the 4th quarter worth approximately $226,000. Institutional investors and hedge funds own 79.04% of the company’s stock.

Insider Buying and Selling at Apogee Therapeutics

In other news, CEO Michael Thomas Henderson sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $40.58, for a total transaction of $608,700.00. Following the completion of the transaction, the chief executive officer now directly owns 1,302,987 shares of the company’s stock, valued at $52,875,212.46. This trade represents a 1.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Carl Dambkowski sold 3,860 shares of Apogee Therapeutics stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $36.22, for a total value of $139,809.20. Following the transaction, the insider now owns 247,173 shares of the company’s stock, valued at $8,952,606.06. This represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,970 shares of company stock valued at $1,974,451. Insiders own 36.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on APGE shares. Guggenheim reissued a “buy” rating on shares of Apogee Therapeutics in a report on Monday, February 10th. Citigroup started coverage on shares of Apogee Therapeutics in a research note on Thursday, March 13th. They issued a “buy” rating and a $95.00 price objective on the stock. Finally, Wedbush restated an “outperform” rating and issued a $90.00 target price on shares of Apogee Therapeutics in a research note on Tuesday, March 11th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $92.17.

Apogee Therapeutics Trading Down 7.6 %

Shares of APGE opened at $32.32 on Friday. Apogee Therapeutics, Inc. has a twelve month low of $29.10 and a twelve month high of $63.50. The firm has a market capitalization of $1.46 billion, a P/E ratio of -13.36 and a beta of 1.72. The firm’s 50-day moving average is $37.21 and its two-hundred day moving average is $45.49.

Apogee Therapeutics (NASDAQ:APGE) last released its quarterly earnings results on Monday, March 3rd. The company reported ($1.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.25). Analysts predict that Apogee Therapeutics, Inc. will post -3.09 EPS for the current 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.