Victory Capital Management Inc. Boosts Stock Position in Apogee Therapeutics, Inc. (NASDAQ:APGE)

Victory Capital Management Inc. grew its stake in Apogee Therapeutics, Inc. (NASDAQ:APGE) by 121.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 346,358 shares of the company’s stock after purchasing an additional 190,092 shares during the period. Victory Capital Management Inc.’s holdings in Apogee Therapeutics were worth $20,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Arizona State Retirement System raised its stake 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 acquiring an additional 258 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings 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 valued at $94,000 after purchasing an additional 285 shares in the last quarter. EntryPoint Capital LLC raised its position in shares of Apogee Therapeutics by 44.7% during the 1st quarter. EntryPoint Capital LLC now owns 1,997 shares of the company’s stock worth $133,000 after purchasing an additional 617 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Apogee Therapeutics by 26.3% during the 2nd quarter. Principal Financial Group Inc. now owns 6,442 shares of the company’s stock worth $253,000 after purchasing an additional 1,340 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its stake in Apogee Therapeutics by 25.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 8,800 shares of the company’s stock worth $517,000 after acquiring an additional 1,800 shares during the period. 79.04% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Carl Dambkowski sold 6,665 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $59.12, for a total value of $394,034.80. Following the transaction, the insider now directly owns 267,463 shares of the company’s stock, valued at approximately $15,812,412.56. The trade was a 2.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jane Henderson sold 6,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $48.26, for a total transaction of $289,560.00. Following the sale, the chief financial officer now directly owns 200,871 shares in the company, valued at approximately $9,694,034.46. This trade represents a 2.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 120,995 shares of company stock worth $6,417,855. 36.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Wedbush reiterated an “outperform” rating and issued a $87.00 price objective on shares of Apogee Therapeutics in a report on Tuesday, November 12th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Apogee Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $78.50.

Apogee Therapeutics Stock Performance

NASDAQ:APGE opened at $45.33 on Tuesday. The firm’s 50-day simple moving average is $54.74 and its 200 day simple moving average is $48.93. Apogee Therapeutics, Inc. has a 52 week low of $16.39 and a 52 week high of $72.29. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of -18.73 and a beta of 2.93.

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.