Apogee Therapeutics, Inc. (NASDAQ:APGE) Stock Position Reduced by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in Apogee Therapeutics, Inc. (NASDAQ:APGE) by 45.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in APGE. Vanguard Group Inc. increased its stake in Apogee Therapeutics by 60.7% during the first quarter. Vanguard Group Inc. now owns 1,868,666 shares of the company’s stock valued at $124,173,000 after purchasing an additional 705,795 shares during the last quarter. Waypoint Capital Advisors LLC acquired a new stake in Apogee Therapeutics during the third quarter worth about $36,835,000. Price T Rowe Associates Inc. MD boosted its stake in Apogee Therapeutics by 51.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,170,327 shares of the company’s stock valued at $77,770,000 after acquiring an additional 399,646 shares during the period. Farallon Capital Management LLC bought a new stake in shares of Apogee Therapeutics in the 1st quarter worth approximately $20,267,000. Finally, Affinity Asset Advisors LLC boosted its position in Apogee Therapeutics by 41.2% during the 2nd quarter. Affinity Asset Advisors LLC now owns 836,283 shares of the company’s stock valued at $32,908,000 after purchasing an additional 244,190 shares during the period. 79.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Canaccord Genuity Group assumed coverage on shares of Apogee Therapeutics in a report on Monday. They set a “buy” rating and a $89.00 price target for the company. Canaccord Genuity Group started coverage on shares of Apogee Therapeutics in a report on Monday. They issued a “buy” rating and a $89.00 price objective for the company. Finally, Wedbush reissued an “outperform” rating and set a $87.00 target price on shares of Apogee Therapeutics in a research note on Tuesday, November 12th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, Apogee Therapeutics currently has an average rating of “Buy” and an average price target of $81.13.

Apogee Therapeutics Trading Up 0.9 %

Shares of NASDAQ APGE opened at $43.85 on Tuesday. The firm has a 50-day moving average of $54.14 and a two-hundred day moving average of $48.63. Apogee Therapeutics, Inc. has a twelve month low of $16.39 and a twelve month high of $72.29. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of -18.12 and a beta of 2.93.

Insider Buying and Selling

In other news, CEO Michael Thomas Henderson sold 40,000 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $56.23, for a total value of $2,249,200.00. Following the completion of the sale, the chief executive officer now owns 1,354,487 shares of the company’s stock, valued at $76,162,804.01. This trade represents a 2.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Carl Dambkowski sold 6,665 shares of the firm’s 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 sale, the insider now owns 280,793 shares of the company’s stock, valued at $13,354,515.08. The trade was a 2.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 114,995 shares of company stock worth $6,128,295. Corporate insiders own 36.10% of the company’s stock.

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.