Apogee Therapeutics, Inc. (NASDAQ:APGE) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in Apogee Therapeutics, Inc. (NASDAQ:APGE) by 4.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,555 shares of the company’s stock after acquiring an additional 1,212 shares during the period. JPMorgan Chase & Co.’s holdings in Apogee Therapeutics were worth $1,736,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Point72 DIFC Ltd acquired a new position in shares of Apogee Therapeutics during the second quarter worth approximately $660,000. Point72 Asset Management L.P. boosted its position in shares of Apogee Therapeutics by 162.7% during the third quarter. Point72 Asset Management L.P. now owns 707,268 shares of the company’s stock worth $41,545,000 after buying an additional 438,036 shares during the period. Waypoint Capital Advisors LLC acquired a new position in shares of Apogee Therapeutics during the third quarter worth approximately $36,835,000. AQR Capital Management LLC bought a new stake in Apogee Therapeutics during the second quarter worth approximately $454,000. Finally, Squarepoint Ops LLC raised its holdings in Apogee Therapeutics by 142.0% during the second quarter. Squarepoint Ops LLC now owns 44,022 shares of the company’s stock worth $1,732,000 after purchasing an additional 25,829 shares in the last quarter. 79.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on APGE shares. Guggenheim reissued a “buy” rating on shares of Apogee Therapeutics in a report on Thursday, December 12th. Wedbush boosted their target price on Apogee Therapeutics from $87.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Canaccord Genuity Group began coverage on Apogee Therapeutics in a report on Monday, November 25th. They issued a “buy” rating and a $89.00 price target on the stock. Finally, Canaccord Genuity Group began coverage on Apogee Therapeutics in a report on Monday, November 25th. They issued a “buy” rating and a $89.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $89.71.

Apogee Therapeutics Stock Down 1.4 %

Apogee Therapeutics stock opened at $38.92 on Thursday. The company’s fifty day simple moving average is $45.36 and its 200-day simple moving average is $49.02. Apogee Therapeutics, Inc. has a 12 month low of $32.78 and a 12 month high of $72.29. The stock has a market cap of $1.75 billion, a P/E ratio of -16.08 and a beta of 2.26.

Apogee Therapeutics (NASDAQ:APGE) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.73) by ($0.13). On average, equities research analysts expect that Apogee Therapeutics, Inc. will post -3.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Michael Thomas Henderson sold 15,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $48.85, for a total transaction of $732,750.00. Following the completion of the transaction, the chief executive officer now owns 1,309,487 shares of the company’s stock, valued at approximately $63,968,439.95. This represents a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Carl Dambkowski sold 4,085 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $46.94, for a total transaction of $191,749.90. Following the transaction, the insider now directly owns 255,348 shares of the company’s stock, valued at $11,986,035.12. This represents a 1.57 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,955 shares of company stock worth $3,433,962. Corporate insiders own 36.10% of the company’s stock.

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.