Zurcher Kantonalbank Zurich Cantonalbank Takes $71,000 Position in Apogee Therapeutics, Inc. (NASDAQ:APGE)

Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Apogee Therapeutics, Inc. (NASDAQ:APGE) in the third quarter, Holdings Channel reports. The firm purchased 1,207 shares of the company’s stock, valued at approximately $71,000.

Other large investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Apogee Therapeutics by 21.2% in the third 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. Allspring Global Investments Holdings LLC purchased a new position in Apogee Therapeutics in the second quarter worth approximately $143,000. Arizona State Retirement System grew its position in Apogee Therapeutics by 4.5% in the second quarter. Arizona State Retirement System now owns 5,993 shares of the company’s stock worth $236,000 after acquiring an additional 258 shares during the period. Principal Financial Group Inc. grew its position in Apogee Therapeutics by 26.3% in the second quarter. Principal Financial Group Inc. now owns 6,442 shares of the company’s stock worth $253,000 after acquiring an additional 1,340 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in Apogee Therapeutics in the second quarter worth approximately $272,000. 79.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Canaccord Genuity Group assumed coverage on Apogee Therapeutics in a research report on Monday, November 25th. They issued a “buy” rating and a $89.00 price objective for the company. Wedbush increased their price objective on Apogee Therapeutics from $87.00 to $90.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Guggenheim reiterated a “buy” rating and issued a $110.00 price objective (up from $95.00) on shares of Apogee Therapeutics in a research report on Tuesday, December 3rd. Finally, Canaccord Genuity Group started coverage on Apogee Therapeutics in a research report on Monday, November 25th. They issued a “buy” rating and a $89.00 price objective for the company. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of $83.88.

Apogee Therapeutics Stock Down 1.8 %

NASDAQ:APGE opened at $49.07 on Tuesday. The stock’s fifty day moving average is $52.21 and its two-hundred day moving average is $48.32. Apogee Therapeutics, Inc. has a 52 week low of $19.91 and a 52 week high of $72.29. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of -20.28 and a beta of 2.33.

Insider Activity

In related news, insider Carl Dambkowski sold 6,665 shares of Apogee Therapeutics stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $56.26, for a total value of $374,972.90. Following the completion of the transaction, the insider now directly owns 274,128 shares in the company, valued at approximately $15,422,441.28. This trade represents a 2.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $59.22, for a total value of $888,300.00. Following the completion of the transaction, the chief executive officer now owns 1,339,487 shares of the company’s stock, valued at approximately $79,324,420.14. This trade represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,995 shares of company stock worth $4,912,264. Corporate insiders own 36.10% of the company’s stock.

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.