Braidwell LP Sells 748,816 Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE)

Braidwell LP lessened its stake in Apogee Therapeutics, Inc. (NASDAQ:APGE) by 31.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,643,226 shares of the company’s stock after selling 748,816 shares during the period. Apogee Therapeutics comprises about 2.7% of Braidwell LP’s holdings, making the stock its 11th largest holding. Braidwell LP owned approximately 3.65% of Apogee Therapeutics worth $96,523,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of APGE. Vanguard Group Inc. lifted its stake in shares of Apogee Therapeutics by 60.7% in the 1st quarter. Vanguard Group Inc. now owns 1,868,666 shares of the company’s stock valued at $124,173,000 after acquiring an additional 705,795 shares during the last quarter. Waypoint Capital Advisors LLC bought a new position in Apogee Therapeutics during the 3rd quarter valued at approximately $36,835,000. Affinity Asset Advisors LLC raised its position in Apogee Therapeutics by 41.2% during the 2nd quarter. Affinity Asset Advisors LLC now owns 836,283 shares of the company’s stock valued at $32,908,000 after purchasing an additional 244,190 shares during the last quarter. Victory Capital Management Inc. raised its position in Apogee Therapeutics by 121.6% during the 3rd quarter. Victory Capital Management Inc. now owns 346,358 shares of the company’s stock valued at $20,345,000 after purchasing an additional 190,092 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in Apogee Therapeutics during the 2nd quarter valued at approximately $5,908,000. Institutional investors own 79.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on APGE. Guggenheim upped their price target on Apogee Therapeutics from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday. Canaccord Genuity Group began coverage on Apogee Therapeutics in a report on Monday. They set a “buy” rating and a $89.00 target price on the stock. Wedbush reiterated an “outperform” rating and set a $87.00 target price on shares of Apogee Therapeutics in a report on Tuesday, November 12th. Finally, Canaccord Genuity Group started coverage on Apogee Therapeutics in a report on Monday. They set a “buy” rating and a $89.00 target price on the stock. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, Apogee Therapeutics currently has an average rating of “Buy” and an average target price of $83.50.

Apogee Therapeutics Stock Up 1.7 %

Apogee Therapeutics stock opened at $44.70 on Friday. The company has a market capitalization of $2.01 billion, a P/E ratio of -18.47 and a beta of 2.93. Apogee Therapeutics, Inc. has a twelve month low of $16.39 and a twelve month high of $72.29. The stock’s 50 day moving average is $53.67 and its 200 day moving average is $48.51.

Insider Activity at Apogee Therapeutics

In related news, CEO Michael Thomas Henderson sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $47.62, for a total value of $1,904,800.00. Following the transaction, the chief executive officer now directly owns 1,394,487 shares of the company’s stock, valued at approximately $66,405,470.94. This represents a 2.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Carl Dambkowski sold 6,665 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $47.56, for a total value of $316,987.40. Following the completion of the transaction, the insider now directly owns 280,793 shares in the company, valued at $13,354,515.08. This trade represents a 2.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 114,995 shares of company stock valued at $6,128,295. 36.10% of the stock is owned by corporate insiders.

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.