Braidwell LP Has $64.21 Million Position in Apogee Therapeutics Inc. $APGE

Braidwell LP reduced its stake in shares of Apogee Therapeutics Inc. (NASDAQ:APGE) by 4.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,478,512 shares of the company’s stock after selling 61,850 shares during the period. Apogee Therapeutics accounts for 2.2% of Braidwell LP’s holdings, making the stock its 18th biggest position. Braidwell LP’s holdings in Apogee Therapeutics were worth $64,212,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of APGE. Octagon Capital Advisors LP purchased a new position in Apogee Therapeutics in the first quarter valued at about $399,752,000. Wellington Management Group LLP raised its stake in shares of Apogee Therapeutics by 21.4% during the 1st quarter. Wellington Management Group LLP now owns 5,485,754 shares of the company’s stock worth $204,948,000 after purchasing an additional 968,391 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Apogee Therapeutics by 77.5% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,290,464 shares of the company’s stock valued at $56,045,000 after buying an additional 563,464 shares during the last quarter. Jefferies Financial Group Inc. grew its stake in shares of Apogee Therapeutics by 52.3% in the 2nd quarter. Jefferies Financial Group Inc. now owns 642,357 shares of the company’s stock valued at $27,898,000 after buying an additional 220,561 shares in the last quarter. Finally, Affinity Asset Advisors LLC increased its holdings in Apogee Therapeutics by 23.6% in the first quarter. Affinity Asset Advisors LLC now owns 1,151,199 shares of the company’s stock worth $43,009,000 after buying an additional 219,471 shares during the last quarter. 79.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 10,900 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $75.00, for a total transaction of $817,500.00. Following the completion of the transaction, the insider owned 271,108 shares of the company’s stock, valued at approximately $20,333,100. The trade was a 3.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Thomas Henderson sold 40,000 shares of the stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $75.01, for a total value of $3,000,400.00. Following the sale, the chief executive officer owned 1,232,987 shares of the company’s stock, valued at approximately $92,486,354.87. The trade was a 3.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 106,795 shares of company stock worth $7,383,008 over the last quarter. 42.77% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

APGE has been the subject of a number of analyst reports. Bank of America lifted their target price on shares of Apogee Therapeutics from $78.00 to $87.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Wall Street Zen downgraded shares of Apogee Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Citigroup reaffirmed a “buy” rating on shares of Apogee Therapeutics in a research note on Thursday, August 28th. Craig Hallum initiated coverage on shares of Apogee Therapeutics in a research report on Monday, November 3rd. They set a “buy” rating and a $109.00 target price on the stock. Finally, BTIG Research reaffirmed a “buy” rating and issued a $115.00 price target on shares of Apogee Therapeutics in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.89.

Apogee Therapeutics Trading Up 0.7%

Shares of Apogee Therapeutics stock opened at $77.08 on Friday. The firm has a fifty day simple moving average of $61.23 and a 200-day simple moving average of $46.69. The stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of -17.60 and a beta of 1.41. Apogee Therapeutics Inc. has a 1-year low of $26.20 and a 1-year high of $78.12.

Apogee Therapeutics (NASDAQ:APGE) last announced its earnings results on Monday, November 10th. The company reported ($1.11) EPS for the quarter, topping the consensus estimate of ($1.14) by $0.03. As a group, research analysts predict that Apogee Therapeutics Inc. will post -3.09 earnings per share for the current year.

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.