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

Victory Capital Management Inc. boosted its holdings in Apogee Therapeutics Inc. (NASDAQ:APGE) by 4.4% in the 1st quarter, Holdings Channel reports. The firm owned 232,983 shares of the company’s stock after purchasing an additional 9,921 shares during the period. Victory Capital Management Inc.’s holdings in Apogee Therapeutics were worth $8,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Driehaus Capital Management LLC lifted its stake in shares of Apogee Therapeutics by 2.8% in the 4th quarter. Driehaus Capital Management LLC now owns 2,605,310 shares of the company’s stock worth $118,021,000 after acquiring an additional 71,703 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Apogee Therapeutics by 13.5% in the 4th quarter. Alliancebernstein L.P. now owns 1,355,185 shares of the company’s stock worth $61,390,000 after acquiring an additional 160,822 shares during the period. Paradigm Biocapital Advisors LP lifted its stake in shares of Apogee Therapeutics by 82.9% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 1,283,766 shares of the company’s stock worth $58,155,000 after acquiring an additional 581,949 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Apogee Therapeutics by 141.7% in the 4th quarter. Janus Henderson Group PLC now owns 1,135,100 shares of the company’s stock worth $51,455,000 after acquiring an additional 665,543 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Apogee Therapeutics by 38.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,052,595 shares of the company’s stock worth $47,683,000 after acquiring an additional 294,514 shares during the period. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Insider Activity

In related news, insider Carl Dambkowski sold 10,090 shares of the firm’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $45.09, for a total value of $454,958.10. Following the sale, the insider directly owned 238,998 shares of the company’s stock, valued at approximately $10,776,419.82. This trade represents a 4.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 15,540 shares of company stock valued at $653,093 over the last 90 days. 42.77% of the stock is currently owned by company insiders.

Apogee Therapeutics Trading Up 2.6%

Shares of NASDAQ APGE opened at $41.64 on Friday. Apogee Therapeutics Inc. has a 52 week low of $26.20 and a 52 week high of $63.50. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of -11.57 and a beta of 1.47. The company’s 50-day moving average price is $40.41 and its 200 day moving average price is $38.39.

Apogee Therapeutics (NASDAQ:APGE) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.19) by $0.24. As a group, research analysts expect that Apogee Therapeutics Inc. will post -3.09 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Citigroup restated a “buy” rating on shares of Apogee Therapeutics in a research note on Monday, July 7th. Wedbush reaffirmed an “outperform” rating and set a $90.00 price target on shares of Apogee Therapeutics in a research note on Monday, July 7th. BTIG Research upped their price target on shares of Apogee Therapeutics from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 7th. Finally, Guggenheim reaffirmed a “buy” rating and set a $116.00 price target on shares of Apogee Therapeutics in a research note on Wednesday, July 2nd. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $99.00.

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.