Swiss National Bank Raises Stock Position in Apogee Therapeutics, Inc. (NASDAQ:APGE)

Swiss National Bank raised its stake in shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) by 17.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,300 shares of the company’s stock after purchasing an additional 6,600 shares during the period. Swiss National Bank owned 0.10% of Apogee Therapeutics worth $2,007,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of APGE. Point72 Asset Management L.P. boosted its stake in shares of Apogee Therapeutics by 162.7% in the third quarter. Point72 Asset Management L.P. now owns 707,268 shares of the company’s stock worth $41,545,000 after acquiring an additional 438,036 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Apogee Therapeutics by 11.2% in the 3rd quarter. Geode Capital Management LLC now owns 823,839 shares of the company’s stock valued at $48,401,000 after purchasing an additional 82,978 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Apogee Therapeutics by 17.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 280,428 shares of the company’s stock worth $16,472,000 after purchasing an additional 41,686 shares during the last quarter. Vestal Point Capital LP purchased a new stake in shares of Apogee Therapeutics during the third quarter worth $8,018,000. Finally, Barclays PLC raised its position in shares of Apogee Therapeutics by 369.2% in the third quarter. Barclays PLC now owns 365,046 shares of the company’s stock valued at $21,443,000 after buying an additional 287,243 shares during the last quarter. Institutional investors and hedge funds own 79.04% of the company’s stock.

Wall Street Analysts Forecast Growth

APGE has been the topic of a number of recent research reports. Citigroup assumed coverage on shares of Apogee Therapeutics in a research report on Thursday, March 13th. They set a “buy” rating and a $95.00 price target on the stock. Guggenheim restated a “buy” rating on shares of Apogee Therapeutics in a research report on Monday, February 10th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $90.00 price target on shares of Apogee Therapeutics in a report on Tuesday, March 11th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $92.17.

Apogee Therapeutics Price Performance

Shares of NASDAQ APGE opened at $39.72 on Friday. The company has a market capitalization of $1.79 billion, a P/E ratio of -16.41 and a beta of 2.46. The company has a 50 day simple moving average of $37.57 and a 200-day simple moving average of $46.00. Apogee Therapeutics, Inc. has a 1 year low of $29.10 and a 1 year high of $68.21.

Apogee Therapeutics (NASDAQ:APGE) last posted its earnings results on Monday, March 3rd. The company reported ($1.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.94) by ($0.25). As a group, research analysts expect that Apogee Therapeutics, Inc. will post -3.09 EPS for the current year.

Insider Buying and Selling

In other news, CEO Michael Thomas Henderson sold 15,000 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $40.58, for a total transaction of $608,700.00. Following the completion of the transaction, the chief executive officer now directly owns 1,302,987 shares in the company, valued at $52,875,212.46. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Carl Dambkowski sold 1,590 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $30.48, for a total value of $48,463.20. Following the completion of the sale, the insider now owns 251,033 shares in the company, valued at $7,651,485.84. This represents a 0.63 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,195 shares of company stock valued at $2,026,392. 36.10% of the stock is currently owned by 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.