Braidwell LP Sells 748,816 Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE)

Braidwell LP trimmed its position in shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) by 31.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,643,226 shares of the company’s stock after selling 748,816 shares during the quarter. Apogee Therapeutics makes up 2.7% of Braidwell LP’s holdings, making the stock its 11th largest holding. Braidwell LP’s holdings in Apogee Therapeutics were worth $96,523,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Apogee Therapeutics by 60.7% in the 1st quarter. Vanguard Group Inc. now owns 1,868,666 shares of the company’s stock worth $124,173,000 after purchasing an additional 705,795 shares during the period. Point72 DIFC Ltd bought a new position in Apogee Therapeutics in the 2nd quarter worth $660,000. XTX Topco Ltd bought a new position in Apogee Therapeutics in the 2nd quarter worth $706,000. Victory Capital Management Inc. raised its holdings in Apogee Therapeutics by 56.8% in the 2nd quarter. Victory Capital Management Inc. now owns 156,266 shares of the company’s stock worth $6,149,000 after purchasing an additional 56,607 shares during the period. Finally, Waypoint Capital Advisors LLC bought a new position in Apogee Therapeutics in the 3rd quarter worth $36,835,000. 79.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on APGE shares. Wedbush reaffirmed an “outperform” rating and issued a $87.00 target price on shares of Apogee Therapeutics in a report on Tuesday, November 12th. Canaccord Genuity Group began coverage on Apogee Therapeutics in a report on Monday. They issued a “buy” rating and a $89.00 target price on the stock. Guggenheim increased their price target on Apogee Therapeutics from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Canaccord Genuity Group began coverage on Apogee Therapeutics in a research note on Monday. They issued a “buy” rating and a $89.00 price target for the company. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $83.50.

Insider Activity

In other news, insider Carl Dambkowski sold 6,665 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $56.26, for a total transaction of $374,972.90. Following the completion of the transaction, the insider now owns 274,128 shares in the company, valued at $15,422,441.28. This trade represents a 2.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael Thomas Henderson sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $47.62, for a total value of $1,904,800.00. Following the transaction, the chief executive officer now owns 1,394,487 shares of the company’s stock, valued at approximately $66,405,470.94. The trade was a 2.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 114,995 shares of company stock worth $6,128,295 over the last 90 days. Corporate insiders own 36.10% of the company’s stock.

Apogee Therapeutics Stock Performance

Shares of APGE stock opened at $44.70 on Friday. Apogee Therapeutics, Inc. has a 52-week low of $16.39 and a 52-week high of $72.29. The firm has a market capitalization of $2.01 billion, a PE ratio of -18.47 and a beta of 2.93. The stock has a fifty day simple moving average of $53.67 and a two-hundred day simple moving average of $48.51.

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.