Adage Capital Partners GP L.L.C. Purchases New Stake in Apogee Therapeutics, Inc. (NASDAQ:APGE)

Adage Capital Partners GP L.L.C. acquired a new position in shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) in the 4th quarter, Holdings Channel.com reports. The firm acquired 240,200 shares of the company’s stock, valued at approximately $10,881,000.

A number of other large investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Apogee Therapeutics by 38.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,052,595 shares of the company’s stock worth $47,683,000 after acquiring an additional 294,514 shares during the period. Diadema Partners LP bought a new stake in Apogee Therapeutics during the fourth quarter worth $2,293,000. B Group Inc. acquired a new stake in shares of Apogee Therapeutics in the 4th quarter valued at $680,000. Tower Research Capital LLC TRC increased its stake in shares of Apogee Therapeutics by 356.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,287 shares of the company’s stock valued at $285,000 after purchasing an additional 4,910 shares during the last quarter. Finally, MetLife Investment Management LLC raised its holdings in shares of Apogee Therapeutics by 8.7% during the 4th quarter. MetLife Investment Management LLC now owns 22,960 shares of the company’s stock worth $1,040,000 after buying an additional 1,845 shares in the last quarter. 79.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 3,860 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were 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 in the company, valued at $8,952,606.06. The trade was a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Thomas Henderson sold 15,000 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $40.58, for a total value of $608,700.00. Following the sale, the chief executive officer now owns 1,302,987 shares of the company’s stock, valued at approximately $52,875,212.46. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,970 shares of company stock worth $1,241,701. Insiders own 36.10% of the company’s stock.

Apogee Therapeutics Price Performance

Shares of NASDAQ APGE opened at $36.85 on Monday. Apogee Therapeutics, Inc. has a 1 year low of $26.20 and a 1 year high of $63.50. The firm has a market cap of $1.66 billion, a PE ratio of -15.23 and a beta of 1.72. The company has a 50 day simple moving average of $35.15 and a 200 day simple moving average of $42.65.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly 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). As a group, research analysts anticipate that Apogee Therapeutics, Inc. will post -3.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.