Virtus Investment Advisers LLC Decreases Stake in Apogee Therapeutics Inc. $APGE

by · The Markets Daily

Virtus Investment Advisers LLC lessened its holdings in Apogee Therapeutics Inc. (NASDAQ:APGE – Free Report) by 39.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,246 shares of the company’s stock after selling 1,455 shares during the period. Virtus Investment Advisers LLC’s holdings in Apogee Therapeutics were worth $98,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its holdings in Apogee Therapeutics by 99.2% during the second quarter. Nisa Investment Advisors LLC now owns 769 shares of the company’s stock worth $33,000 after acquiring an additional 383 shares during the period. Brooklyn Investment Group bought a new stake in shares of Apogee Therapeutics during the 1st quarter worth $42,000. AlphaQuest LLC purchased a new position in shares of Apogee Therapeutics in the 1st quarter worth about $43,000. Mirae Asset Global Investments Co. Ltd. grew its position in Apogee Therapeutics by 18.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,779 shares of the company’s stock valued at $77,000 after buying an additional 272 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new stake in Apogee Therapeutics in the second quarter worth about $218,000. 79.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on APGE. Craig Hallum started 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 for the company. Bank of America boosted their target price on Apogee Therapeutics from $78.00 to $87.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Apogee Therapeutics in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Apogee Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Finally, BTIG Research reiterated a “buy” rating and issued a $115.00 target price on shares of Apogee Therapeutics in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Apogee Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $98.38.

Read Our Latest Report on Apogee Therapeutics

Insider Buying and Selling at Apogee Therapeutics

In other news, insider Carl Dambkowski sold 10,785 shares of Apogee Therapeutics stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $55.07, for a total transaction of $593,929.95. Following the completion of the sale, the insider directly owned 282,008 shares of the company’s stock, valued at approximately $15,530,180.56. The trade was a 3.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael Thomas Henderson sold 20,000 shares of the stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $63.01, for a total value of $1,260,200.00. Following the completion of the transaction, the chief executive officer directly owned 1,272,987 shares in the company, valued at approximately $80,210,910.87. This represents a 1.55% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 38,620 shares of company stock worth $2,160,704. Corporate insiders own 42.77% of the company’s stock.

Apogee Therapeutics Price Performance

NASDAQ APGE opened at $72.06 on Friday. The company’s 50 day simple moving average is $54.10 and its two-hundred day simple moving average is $44.32. Apogee Therapeutics Inc. has a 1 year low of $26.20 and a 1 year high of $73.90. The stock has a market capitalization of $4.92 billion, a PE ratio of -16.45 and a beta of 1.50.

Apogee Therapeutics (NASDAQ:APGE – Get Free Report) last released its quarterly earnings results on Monday, November 10th. The company reported ($1.11) earnings per share for the quarter, topping the consensus estimate of ($1.14) by $0.03. On average, research analysts anticipate that Apogee Therapeutics Inc. will post -3.09 EPS for the current year.

Apogee Therapeutics Profile

(Free Report)

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.

See Also

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