The Manufacturers Life Insurance Company Sells 3,655 Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE)

The Manufacturers Life Insurance Company decreased its stake in Apogee Therapeutics, Inc. (NASDAQ:APGE) by 5.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,988 shares of the company’s stock after selling 3,655 shares during the period. The Manufacturers Life Insurance Company’s holdings in Apogee Therapeutics were worth $3,994,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in APGE. Point72 DIFC Ltd bought a new stake in shares of Apogee Therapeutics during the second quarter worth about $660,000. XTX Topco Ltd acquired a new stake in Apogee Therapeutics during the 2nd quarter worth approximately $706,000. Victory Capital Management Inc. grew its holdings in Apogee Therapeutics by 56.8% during the 2nd quarter. Victory Capital Management Inc. now owns 156,266 shares of the company’s stock worth $6,149,000 after acquiring an additional 56,607 shares during the last quarter. Waypoint Capital Advisors LLC acquired a new position in Apogee Therapeutics in the 3rd quarter valued at approximately $36,835,000. Finally, AQR Capital Management LLC bought a new position in shares of Apogee Therapeutics during the second quarter valued at $454,000. Institutional investors and hedge funds own 79.04% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on APGE. Guggenheim restated a “buy” rating and issued a $110.00 price objective (up from $95.00) on shares of Apogee Therapeutics in a report on Tuesday. Wedbush increased their price target on Apogee Therapeutics from $87.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Canaccord Genuity Group assumed coverage on Apogee Therapeutics in a research note on Monday, November 25th. They issued a “buy” rating and a $89.00 price objective on the stock. Finally, Canaccord Genuity Group assumed coverage on Apogee Therapeutics in a report on Monday, November 25th. They issued a “buy” rating and a $89.00 target price on the stock. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $83.88.

Apogee Therapeutics Price Performance

Shares of Apogee Therapeutics stock opened at $49.97 on Friday. The stock’s 50-day moving average is $52.41 and its 200 day moving average is $48.31. Apogee Therapeutics, Inc. has a one year low of $19.91 and a one year high of $72.29. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of -20.65 and a beta of 2.30.

Insider Buying and Selling at Apogee Therapeutics

In related news, CEO Michael Thomas Henderson sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $56.23, for a total transaction of $2,249,200.00. Following the transaction, the chief executive officer now directly owns 1,354,487 shares of the company’s stock, valued at approximately $76,162,804.01. This represents a 2.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Carl Dambkowski sold 6,665 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $56.26, for a total value of $374,972.90. Following the completion of the sale, the insider now directly owns 274,128 shares of the company’s stock, valued at $15,422,441.28. This trade represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,995 shares of company stock valued at $4,912,264. 36.10% of the stock is currently owned by company insiders.

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.