Erste Asset Management GmbH Makes New $1.10 Million Investment in Apogee Therapeutics, Inc. (NASDAQ:APGE)

Erste Asset Management GmbH purchased a new stake in Apogee Therapeutics, Inc. (NASDAQ:APGE) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 24,000 shares of the company’s stock, valued at approximately $1,099,000. Erste Asset Management GmbH owned 0.05% of Apogee Therapeutics as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Point72 Asset Management L.P. boosted its stake in Apogee Therapeutics by 162.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 707,268 shares of the company’s stock worth $41,545,000 after purchasing an additional 438,036 shares during the period. Geode Capital Management LLC boosted its position in shares of Apogee Therapeutics by 11.2% during the third quarter. Geode Capital Management LLC now owns 823,839 shares of the company’s stock worth $48,401,000 after buying an additional 82,978 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Apogee Therapeutics by 17.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 280,428 shares of the company’s stock worth $16,472,000 after buying an additional 41,686 shares in the last quarter. Vestal Point Capital LP bought a new position in shares of Apogee Therapeutics during the third quarter worth about $8,018,000. Finally, Victory Capital Management Inc. raised its position in Apogee Therapeutics by 121.6% in the 3rd quarter. Victory Capital Management Inc. now owns 346,358 shares of the company’s stock valued at $20,345,000 after buying an additional 190,092 shares during the last quarter. Institutional investors own 79.04% of the company’s stock.

Apogee Therapeutics Stock Performance

Apogee Therapeutics stock opened at $39.94 on Friday. The stock has a 50-day simple moving average of $38.37 and a 200 day simple moving average of $46.66. The stock has a market capitalization of $1.80 billion, a P/E ratio of -16.50 and a beta of 2.46. Apogee Therapeutics, Inc. has a 52 week low of $29.10 and a 52 week high of $71.75.

Apogee Therapeutics (NASDAQ:APGE) last posted its earnings results on Monday, March 3rd. The company reported ($1.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.25). Research analysts forecast that Apogee Therapeutics, Inc. will post -3.09 earnings per share for the current year.

Insider Buying and Selling at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 4,085 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $46.94, for a total value of $191,749.90. Following the transaction, the insider now owns 255,348 shares in the company, valued at approximately $11,986,035.12. This represents a 1.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Thomas Henderson sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $48.85, for a total transaction of $732,750.00. Following the sale, the chief executive officer now owns 1,309,487 shares of the company’s stock, valued at $63,968,439.95. This trade represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,195 shares of company stock worth $2,026,392 over the last ninety days. Insiders own 36.10% of the company’s stock.

Analyst Ratings Changes

APGE has been the topic of a number of recent research reports. Guggenheim reiterated a “buy” rating on shares of Apogee Therapeutics in a report on Monday, February 10th. Wedbush reissued an “outperform” rating and set a $90.00 price target on shares of Apogee Therapeutics in a research report on Tuesday. Canaccord Genuity Group started coverage on Apogee Therapeutics in a report on Monday, November 25th. They issued a “buy” rating and a $89.00 price objective for the company. Citigroup started coverage on Apogee Therapeutics in a research report on Thursday. They set a “buy” rating and a $95.00 price target for the company. Finally, Canaccord Genuity Group started coverage on Apogee Therapeutics in a research note on Monday, November 25th. They set a “buy” rating and a $89.00 price objective on the stock. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Apogee Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $92.17.

Apogee Therapeutics Company 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.