Jennison Associates LLC Invests $2.90 Million in Apogee Therapeutics, Inc. (NASDAQ:APGE)

Jennison Associates LLC acquired a new stake in Apogee Therapeutics, Inc. (NASDAQ:APGE) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 103,744 shares of the company’s stock, valued at approximately $2,899,000. Jennison Associates LLC owned about 0.20% of Apogee Therapeutics at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of APGE. China Universal Asset Management Co. Ltd. purchased a new position in shares of Apogee Therapeutics during the 4th quarter valued at $155,000. SG Americas Securities LLC raised its position in shares of Apogee Therapeutics by 34.0% in the fourth quarter. SG Americas Securities LLC now owns 6,607 shares of the company’s stock valued at $185,000 after purchasing an additional 1,676 shares during the period. Vanguard Group Inc. purchased a new stake in shares of Apogee Therapeutics during the 3rd quarter valued at approximately $23,894,000. Teachers Retirement System of The State of Kentucky bought a new position in Apogee Therapeutics in the 3rd quarter worth approximately $474,000. Finally, Wellington Management Group LLP purchased a new position in Apogee Therapeutics in the 3rd quarter valued at approximately $33,037,000. 79.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

APGE has been the topic of several recent research reports. Wedbush restated an “outperform” rating and set a $87.00 target price (up previously from $40.00) on shares of Apogee Therapeutics in a research report on Tuesday, March 5th. Jefferies Financial Group raised their target price on Apogee Therapeutics from $37.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Stifel Nicolaus increased their price target on shares of Apogee Therapeutics from $46.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Finally, Guggenheim raised their price objective on shares of Apogee Therapeutics from $44.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Apogee Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $71.83.

Apogee Therapeutics Trading Up 2.8 %

Shares of APGE opened at $47.13 on Friday. Apogee Therapeutics, Inc. has a 12-month low of $14.19 and a 12-month high of $72.29. The stock has a 50-day moving average price of $54.24 and a 200-day moving average price of $35.05.

Apogee Therapeutics (NASDAQ:APGE) last announced its earnings results on Tuesday, March 5th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.13. As a group, research analysts expect that Apogee Therapeutics, Inc. will post -2.67 earnings per share for the current year.

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.