Allostery Investments LP Purchases New Shares in Apogee Therapeutics, Inc. (NASDAQ:APGE)

Allostery Investments LP acquired a new stake in Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 100,000 shares of the company's stock, valued at approximately $4,530,000. Apogee Therapeutics makes up 4.7% of Allostery Investments LP's holdings, making the stock its 4th biggest holding. Allostery Investments LP owned 0.22% of Apogee Therapeutics as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Optimize Financial Inc acquired a new stake in Apogee Therapeutics during the 4th quarter worth $203,000. Aigen Investment Management LP acquired a new stake in shares of Apogee Therapeutics during the fourth quarter valued at about $216,000. Commonwealth Equity Services LLC acquired a new position in Apogee Therapeutics during the fourth quarter worth $222,000. KLP Kapitalforvaltning AS purchased a new position in Apogee Therapeutics during the 4th quarter valued at about $226,000. Finally, Tower Research Capital LLC TRC increased its stake in Apogee Therapeutics by 356.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,287 shares of the company's stock worth $285,000 after buying an additional 4,910 shares during the period. Hedge funds and other institutional investors own 79.04% of the company's stock.

Apogee Therapeutics Trading Up 0.8 %

Shares of APGE stock traded up $0.29 during trading hours on Wednesday, hitting $35.86. The company's stock had a trading volume of 273,304 shares, compared to its average volume of 517,795. The business has a fifty day moving average of $35.92 and a 200-day moving average of $41.90. Apogee Therapeutics, Inc. has a twelve month low of $26.20 and a twelve month high of $63.50. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -14.86 and a beta of 1.70.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last posted its quarterly earnings data on Monday, March 3rd. The company reported ($1.19) EPS for the quarter, missing analysts' consensus estimates of ($0.94) by ($0.25). On average, equities analysts expect that Apogee Therapeutics, Inc. will post -3.09 EPS for the current fiscal year.

Insider Transactions at Apogee Therapeutics

In related news, CEO Michael Thomas Henderson sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $30.15, for a total transaction of $301,500.00. Following the completion of the transaction, the chief executive officer now owns 1,292,987 shares of the company's stock, valued at approximately $38,983,558.05. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Carl Dambkowski sold 1,590 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $30.48, for a total transaction of $48,463.20. Following the sale, the insider now directly owns 251,033 shares of the company's stock, valued at approximately $7,651,485.84. This trade represents a 0.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,450 shares of company stock worth $489,772 over the last ninety days. 36.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Guggenheim reissued a "buy" rating on shares of Apogee Therapeutics in a report on Monday, February 10th. Citigroup initiated coverage on shares of Apogee Therapeutics in a research report on Thursday, March 13th. They issued a "buy" rating and a $95.00 target price on the stock. Finally, Wedbush restated an "outperform" rating and set a $90.00 price target on shares of Apogee Therapeutics in a research note on Tuesday, March 11th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Apogee Therapeutics has an average rating of "Buy" and an average target price of $92.17.

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.