The Manufacturers Life Insurance Company Has $3.98 Million Stock Position in Apogee Therapeutics, Inc. (NASDAQ:APGE)

The Manufacturers Life Insurance Company increased its position in Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report) by 29.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,953 shares of the company's stock after purchasing an additional 19,965 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.20% of Apogee Therapeutics worth $3,984,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. bought a new stake in Apogee Therapeutics in the 4th quarter valued at $10,881,000. Price T Rowe Associates Inc. MD raised its position in shares of Apogee Therapeutics by 38.8% during the fourth 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 during the last quarter. Diadema Partners LP bought a new stake in shares of Apogee Therapeutics during the fourth quarter valued at approximately $2,293,000. B Group Inc. purchased a new position in shares of Apogee Therapeutics during the fourth quarter valued at approximately $680,000. Finally, Tower Research Capital LLC TRC boosted its position 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 worth $285,000 after purchasing an additional 4,910 shares during the last quarter. 79.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on APGE shares. Wedbush restated an "outperform" rating and issued a $90.00 target price on shares of Apogee Therapeutics in a research note on Tuesday, March 11th. Citigroup started coverage on Apogee Therapeutics in a report on Thursday, March 13th. They set a "buy" rating and a $95.00 target price for the company. Finally, Guggenheim reiterated a "buy" rating on shares of Apogee Therapeutics in a report on Monday, February 10th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $94.60.

Insider Activity

In other Apogee Therapeutics 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 sale, the chief executive officer now owns 1,292,987 shares in the company, valued at approximately $38,983,558.05. The trade was a 0.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 value of $48,463.20. Following the completion of the transaction, 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 sold a total of 18,175 shares of company stock valued at $587,191 over the last 90 days. Insiders own 36.10% of the company's stock.

Apogee Therapeutics Price Performance

NASDAQ APGE traded up $0.16 during trading hours on Tuesday, hitting $39.74. 628,657 shares of the company's stock traded hands, compared to its average volume of 526,800. Apogee Therapeutics, Inc. has a 52-week low of $26.20 and a 52-week high of $63.50. The company has a market capitalization of $1.78 billion, a PE ratio of -16.42 and a beta of 1.70. The firm's 50-day moving average is $36.43 and its 200-day moving average is $41.42.

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

Apogee Therapeutics 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.