AlphaCentric Advisors LLC Decreases Stock Holdings in Apogee Therapeutics, Inc. (NASDAQ:APGE)

AlphaCentric Advisors LLC reduced its position in shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) by 33.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,649 shares of the company’s stock after selling 2,851 shares during the quarter. AlphaCentric Advisors LLC’s holdings in Apogee Therapeutics were worth $256,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Apogee Therapeutics in the third quarter valued at about $71,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Apogee Therapeutics by 21.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company’s stock valued at $94,000 after purchasing an additional 285 shares during the period. Wexford Capital LP purchased a new position in Apogee Therapeutics during the 3rd quarter valued at about $230,000. Intech Investment Management LLC bought a new position in Apogee Therapeutics during the 3rd quarter valued at approximately $300,000. Finally, Valence8 US LP purchased a new stake in Apogee Therapeutics in the 3rd quarter worth approximately $308,000. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Guggenheim reissued a “buy” rating on shares of Apogee Therapeutics in a research note on Monday, February 10th. Wedbush boosted their price objective on shares of Apogee Therapeutics from $87.00 to $90.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Canaccord Genuity Group initiated coverage on shares of Apogee Therapeutics in a research report on Monday, November 25th. They issued a “buy” rating and a $89.00 target price for the company. Finally, Canaccord Genuity Group assumed coverage on shares of Apogee Therapeutics in a research note on Monday, November 25th. They set a “buy” rating and a $89.00 target price on the stock. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $89.71.

Insider Buying and Selling

In other Apogee Therapeutics news, insider Carl Dambkowski sold 4,540 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $48.76, for a total value of $221,370.40. Following the sale, the insider now directly owns 258,073 shares of the company’s stock, valued at approximately $12,583,639.48. The trade was a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Thomas Henderson sold 15,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $46.58, for a total value of $698,700.00. Following the completion of the sale, the chief executive officer now directly owns 1,324,487 shares in the company, valued at approximately $61,694,604.46. This represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,810 shares of company stock worth $2,903,556 in the last three months. 36.10% of the stock is owned by corporate insiders.

Apogee Therapeutics Trading Up 0.8 %

Shares of Apogee Therapeutics stock opened at $36.54 on Monday. Apogee Therapeutics, Inc. has a 12 month low of $33.14 and a 12 month high of $72.29. The firm has a market capitalization of $1.65 billion, a P/E ratio of -15.10 and a beta of 2.18. The business has a fifty day simple moving average of $43.06 and a two-hundred day simple moving average of $48.08.

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.