Apogee Therapeutics, Inc. (NASDAQ:APGE) Shares Purchased by Paradigm Biocapital Advisors LP

Paradigm Biocapital Advisors LP boosted its stake in Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report) by 82.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,283,766 shares of the company's stock after buying an additional 581,949 shares during the period. Apogee Therapeutics makes up approximately 2.0% of Paradigm Biocapital Advisors LP's portfolio, making the stock its 15th biggest position. Paradigm Biocapital Advisors LP owned about 2.85% of Apogee Therapeutics worth $58,155,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Driehaus Capital Management LLC raised its holdings in Apogee Therapeutics by 2.8% in the 4th quarter. Driehaus Capital Management LLC now owns 2,605,310 shares of the company's stock valued at $118,021,000 after buying an additional 71,703 shares during the period. Alliancebernstein L.P. grew its position in Apogee Therapeutics by 13.5% in the 4th quarter. Alliancebernstein L.P. now owns 1,355,185 shares of the company's stock valued at $61,390,000 after acquiring an additional 160,822 shares in the last quarter. Janus Henderson Group PLC grew its position in Apogee Therapeutics by 141.7% in the 4th quarter. Janus Henderson Group PLC now owns 1,135,100 shares of the company's stock valued at $51,455,000 after acquiring an additional 665,543 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Apogee Therapeutics by 38.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,052,595 shares of the company's stock valued at $47,683,000 after acquiring an additional 294,514 shares in the last quarter. Finally, Affinity Asset Advisors LLC grew its position in Apogee Therapeutics by 40.3% in the 4th quarter. Affinity Asset Advisors LLC now owns 931,728 shares of the company's stock valued at $42,207,000 after acquiring an additional 267,530 shares in the last quarter. 79.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Apogee Therapeutics

In other news, CEO Michael Thomas Henderson sold 10,000 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was 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 directly owns 1,292,987 shares of the company's stock, valued at approximately $38,983,558.05. The trade was a 0.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Carl Dambkowski sold 2,725 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $35.75, for a total value of $97,418.75. Following the transaction, the insider now directly owns 244,448 shares of the company's stock, valued at approximately $8,739,016. This represents a 1.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,175 shares of company stock valued at $587,191. 36.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

APGE has been the subject of several research reports. Guggenheim reaffirmed a "buy" rating on shares of Apogee Therapeutics in a research report on Monday, February 10th. Citigroup initiated coverage on Apogee Therapeutics in a research report on Thursday, March 13th. They issued a "buy" rating and a $95.00 target price for the company. Finally, Wedbush reaffirmed an "outperform" rating and issued a $90.00 target price on shares of Apogee Therapeutics in a research report on Tuesday, March 11th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Apogee Therapeutics has a consensus rating of "Buy" and a consensus target price of $94.60.

Apogee Therapeutics Price Performance

Shares of Apogee Therapeutics stock traded down $0.02 on Friday, reaching $40.62. 444,797 shares of the company were exchanged, compared to its average volume of 522,887. Apogee Therapeutics, Inc. has a 1-year low of $26.20 and a 1-year high of $63.50. The company has a market cap of $1.82 billion, a P/E ratio of -16.79 and a beta of 1.70. The stock's 50 day moving average price is $36.66 and its 200-day moving average price is $41.19.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.95) EPS for the quarter, topping analysts' consensus estimates of ($1.19) by $0.24. On average, research analysts predict that Apogee Therapeutics, Inc. will post -3.09 earnings per share for the current fiscal year.

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.