Principal Financial Group Inc. Sells 2,925 Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE)

Principal Financial Group Inc. decreased its stake in Apogee Therapeutics, Inc. (NASDAQ:APGE) by 45.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,517 shares of the company’s stock after selling 2,925 shares during the quarter. Principal Financial Group Inc.’s holdings in Apogee Therapeutics were worth $207,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Apogee Therapeutics during the third quarter worth $71,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Apogee Therapeutics by 21.2% during the 3rd 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 purchased a new stake in Apogee Therapeutics in the 2nd quarter worth about $143,000. Wexford Capital LP bought a new stake in Apogee Therapeutics in the third quarter worth about $230,000. Finally, Arizona State Retirement System boosted its position in shares of Apogee Therapeutics by 4.5% during the second 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 period. Institutional investors own 79.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on APGE. Canaccord Genuity Group started 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. Wedbush lifted their target price on Apogee Therapeutics from $87.00 to $90.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Canaccord Genuity Group started coverage on shares of Apogee Therapeutics in a report on Monday, November 25th. They issued a “buy” rating and a $89.00 price target on the stock. Finally, Guggenheim reiterated a “buy” rating on shares of Apogee Therapeutics in a report on Thursday, December 12th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Apogee Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $89.71.

Apogee Therapeutics Price Performance

Shares of Apogee Therapeutics stock opened at $48.29 on Tuesday. The firm’s 50-day moving average is $49.00 and its two-hundred day moving average is $48.82. Apogee Therapeutics, Inc. has a 1 year low of $27.05 and a 1 year high of $72.29. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of -19.95 and a beta of 2.26.

Insider Activity at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 6,665 shares of Apogee Therapeutics stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $59.12, for a total value of $394,034.80. Following the transaction, the insider now directly owns 267,463 shares of the company’s stock, valued at approximately $15,812,412.56. The trade was a 2.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $888,300.00. Following the transaction, the chief executive officer now directly owns 1,339,487 shares in the company, valued at approximately $79,324,420.14. The trade was a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,955 shares of company stock valued at $2,701,212 over the last ninety days. 36.10% of the stock is owned by company insiders.

Apogee Therapeutics Company 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.