Apogee Therapeutics, Inc. (NASDAQ:APGE) Shares Purchased by Jennison Associates LLC

Jennison Associates LLC grew its position in shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) by 2.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 312,611 shares of the company’s stock after buying an additional 6,533 shares during the period. Jennison Associates LLC’s holdings in Apogee Therapeutics were worth $18,363,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in Apogee Therapeutics by 21.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company’s stock valued at $94,000 after purchasing an additional 285 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Apogee Therapeutics in the 2nd quarter valued at about $143,000. Kennedy Capital Management LLC bought a new stake in shares of Apogee Therapeutics during the 1st quarter valued at about $212,000. Arizona State Retirement System grew its position in shares of Apogee Therapeutics by 4.5% during the 2nd quarter. Arizona State Retirement System now owns 5,993 shares of the company’s stock valued at $236,000 after buying an additional 258 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Apogee Therapeutics by 26.3% during the second quarter. Principal Financial Group Inc. now owns 6,442 shares of the company’s stock worth $253,000 after acquiring an additional 1,340 shares during the period. Institutional investors and hedge funds own 79.04% of the company’s stock.

Insider Activity

In other news, CEO Michael Thomas Henderson sold 15,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $59.22, for a total transaction of $888,300.00. Following the completion of the sale, the chief executive officer now directly owns 1,339,487 shares of the company’s stock, valued at $79,324,420.14. This represents a 1.11 % 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, insider Carl Dambkowski sold 6,665 shares of Apogee Therapeutics stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $47.56, for a total value of $316,987.40. Following the completion of the transaction, the insider now directly owns 280,793 shares in the company, valued at $13,354,515.08. This represents a 2.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 114,995 shares of company stock worth $6,128,295. Corporate insiders own 36.10% of the company’s stock.

Apogee Therapeutics Stock Up 1.4 %

Shares of APGE stock opened at $43.46 on Friday. The stock has a 50-day simple moving average of $54.29 and a 200 day simple moving average of $48.74. The stock has a market capitalization of $1.96 billion, a P/E ratio of -17.96 and a beta of 2.93. Apogee Therapeutics, Inc. has a fifty-two week low of $16.39 and a fifty-two week high of $72.29.

Analyst Ratings Changes

Separately, Wedbush restated an “outperform” rating and set a $87.00 price objective on shares of Apogee Therapeutics in a research report on Tuesday, November 12th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $78.50.

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.