Apogee Therapeutics, Inc. (NASDAQ:APGE) Director Mark C. Mckenna Purchases 20,000 Shares

Apogee Therapeutics, Inc. (NASDAQ:APGE) Director Mark C. Mckenna acquired 20,000 shares of Apogee Therapeutics stock in a transaction dated Thursday, December 12th. The stock was bought at an average price of $49.54 per share, with a total value of $990,800.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at $990,800. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Apogee Therapeutics Stock Performance

APGE stock opened at $48.09 on Wednesday. The company’s fifty day moving average price is $51.11 and its 200-day moving average price is $48.32. Apogee Therapeutics, Inc. has a one year low of $22.20 and a one year high of $72.29. The company has a market capitalization of $2.17 billion, a PE ratio of -19.87 and a beta of 2.30.

Institutional Trading of Apogee Therapeutics

Several hedge funds have recently bought and sold shares of APGE. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Apogee Therapeutics in the third quarter worth about $71,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Apogee Therapeutics by 21.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company’s stock worth $94,000 after acquiring an additional 285 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Apogee Therapeutics during the 2nd quarter worth approximately $143,000. Wexford Capital LP bought a new position in shares of Apogee Therapeutics during the 3rd quarter valued at approximately $230,000. Finally, Arizona State Retirement System grew its holdings in shares of Apogee Therapeutics by 4.5% in the second quarter. Arizona State Retirement System now owns 5,993 shares of the company’s stock valued at $236,000 after purchasing an additional 258 shares in the last quarter. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on APGE. Canaccord Genuity Group initiated coverage on Apogee Therapeutics in a research report on Monday, November 25th. They issued a “buy” rating and a $89.00 price target for the company. Wedbush increased their target price on shares of Apogee Therapeutics from $87.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Canaccord Genuity Group initiated 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. Finally, Guggenheim reiterated a “buy” rating on shares of Apogee Therapeutics in a research report on Thursday, December 12th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $83.88.

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.