Two Sigma Advisers LP Purchases 24,300 Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE)

Two Sigma Advisers LP increased its holdings in Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report) by 51.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,500 shares of the company's stock after buying an additional 24,300 shares during the period. Two Sigma Advisers LP owned 0.16% of Apogee Therapeutics worth $3,239,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in APGE. Optimize Financial Inc bought a new position 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 4th quarter worth $216,000. BNP Paribas Financial Markets bought a new position in shares of Apogee Therapeutics in the fourth quarter worth $219,000. Commonwealth Equity Services LLC bought a new stake in Apogee Therapeutics during the fourth quarter worth about $222,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Apogee Therapeutics during the fourth quarter worth about $226,000. 79.04% of the stock is currently owned by institutional investors and hedge funds.

Apogee Therapeutics Price Performance

Shares of APGE traded down $0.79 during mid-day trading on Friday, hitting $36.90. The stock had a trading volume of 351,525 shares, compared to its average volume of 526,153. Apogee Therapeutics, Inc. has a 52 week low of $26.20 and a 52 week high of $63.50. The business has a fifty day moving average price of $36.52 and a 200-day moving average price of $40.06. The firm has a market cap of $1.70 billion, a P/E ratio of -15.24 and a beta of 1.70.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last released its quarterly 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. As a group, research analysts expect that Apogee Therapeutics, Inc. will post -3.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

APGE has been the subject of a number of recent analyst reports. Wedbush reaffirmed an "outperform" rating and set a $90.00 price target on shares of Apogee Therapeutics in a report on Tuesday, March 11th. Guggenheim reaffirmed a "buy" rating on shares of Apogee Therapeutics in a report on Monday, February 10th. Finally, Citigroup initiated coverage on Apogee Therapeutics in a report on Thursday, March 13th. They set a "buy" rating and a $95.00 price target for the company. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $94.60.

Insider Buying and Selling

In other news, CEO Michael Thomas Henderson sold 10,000 shares of the business'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 directly owns 1,292,987 shares of the company's stock, valued at $38,983,558.05. The trade was a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Carl Dambkowski sold 1,590 shares of the firm's 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 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. Insiders have sold a total of 18,175 shares of company stock valued at $587,191 over the last three months. 42.77% of the stock is owned by company 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.