Mercer Global Advisors Inc. ADV Buys Shares of 720,101 Apogee Therapeutics, Inc. (NASDAQ:APGE)

Mercer Global Advisors Inc. ADV acquired a new stake in Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 720,101 shares of the company's stock, valued at approximately $32,621,000. Mercer Global Advisors Inc. ADV owned 1.60% of Apogee Therapeutics at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of APGE. Optimize Financial Inc bought a new stake in Apogee Therapeutics during the fourth quarter worth $203,000. Aigen Investment Management LP acquired a new stake in shares of Apogee Therapeutics during the 4th quarter valued at $216,000. Commonwealth Equity Services LLC bought a new stake in shares of Apogee Therapeutics during the fourth quarter worth about $222,000. KLP Kapitalforvaltning AS bought a new stake in Apogee Therapeutics during the 4th quarter worth approximately $226,000. Finally, Tower Research Capital LLC TRC increased its holdings in Apogee Therapeutics by 356.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,287 shares of the company's stock valued at $285,000 after purchasing an additional 4,910 shares during the period. Institutional investors own 79.04% of the company's stock.

Insider Buying and Selling

In related news, CEO Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $40.58, for a total value of $608,700.00. Following the completion of the transaction, the chief executive officer now owns 1,302,987 shares in the company, valued at approximately $52,875,212.46. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Carl Dambkowski sold 1,590 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $30.48, for a total value of $48,463.20. Following the sale, the insider now owns 251,033 shares in the company, valued at $7,651,485.84. The trade was a 0.63 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,970 shares of company stock worth $1,241,701. 36.10% of the stock is owned by corporate insiders.

Apogee Therapeutics Stock Performance

Shares of APGE stock traded down $0.73 on Monday, hitting $39.39. 504,490 shares of the company's stock traded hands, compared to its average volume of 516,108. The company's fifty day simple moving average is $35.65 and its 200 day simple moving average is $42.05. Apogee Therapeutics, Inc. has a one year low of $26.20 and a one year high of $63.50. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of -16.28 and a beta of 1.70.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last posted its earnings results on Monday, March 3rd. The company reported ($1.19) EPS for the quarter, missing the consensus estimate of ($0.94) by ($0.25). As a group, sell-side analysts anticipate that Apogee Therapeutics, Inc. will post -3.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Guggenheim reiterated a "buy" rating on shares of Apogee Therapeutics in a report on Monday, February 10th. Citigroup started coverage on shares of Apogee Therapeutics in a research report on Thursday, March 13th. They set a "buy" rating and a $95.00 price target for the company. Finally, Wedbush reiterated an "outperform" rating and issued a $90.00 price objective on shares of Apogee Therapeutics in a research note on Tuesday, March 11th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Apogee Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $92.17.

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.