Apogee Therapeutics, Inc. (NASDAQ:APGE) Shares Purchased by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC raised its holdings in shares of Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report) by 8.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 91,213 shares of the company's stock after purchasing an additional 7,236 shares during the quarter. Cubist Systematic Strategies LLC owned 0.20% of Apogee Therapeutics worth $4,132,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of APGE. Mercer Global Advisors Inc. ADV acquired a new stake in Apogee Therapeutics during the 4th quarter valued at approximately $32,621,000. Price T Rowe Associates Inc. MD grew its position in shares of 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 worth $47,683,000 after acquiring an additional 294,514 shares in the last quarter. Barclays PLC grew its position in shares of Apogee Therapeutics by 369.2% in the 3rd quarter. Barclays PLC now owns 365,046 shares of the company's stock worth $21,443,000 after acquiring an additional 287,243 shares in the last quarter. Affinity Asset Advisors LLC grew its position in shares of Apogee Therapeutics by 40.3% in the 4th quarter. Affinity Asset Advisors LLC now owns 931,728 shares of the company's stock worth $42,207,000 after acquiring an additional 267,530 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of Apogee Therapeutics in the 4th quarter worth approximately $10,881,000. Institutional investors and hedge funds own 79.04% of the company's stock.

Insider Buying and Selling at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 1,590 shares of Apogee Therapeutics stock in a transaction 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 owns 251,033 shares of the company's stock, valued at $7,651,485.84. The trade was a 0.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Thomas Henderson sold 10,000 shares of Apogee Therapeutics stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $30.15, for a total value of $301,500.00. Following the sale, the chief executive officer now directly owns 1,292,987 shares in the company, valued at $38,983,558.05. The trade was a 0.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,175 shares of company stock valued at $587,191 in the last quarter. Corporate insiders own 36.10% of the company's stock.

Apogee Therapeutics Price Performance

NASDAQ:APGE traded up $0.10 during midday trading on Thursday, reaching $39.95. 184,919 shares of the company traded hands, compared to its average volume of 522,621. The company has a fifty day moving average price of $36.59 and a 200 day moving average price of $41.39. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -16.54 and a beta of 1.70. Apogee Therapeutics, Inc. has a twelve month low of $26.20 and a twelve month high of $63.50.

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

Analysts Set New Price Targets

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

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.