Vestal Point Capital LP Makes New $8.02 Million Investment in Apogee Therapeutics, Inc. (NASDAQ:APGE)

Vestal Point Capital LP bought a new stake in shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 136,500 shares of the company’s stock, valued at approximately $8,018,000.

Several other large investors also recently modified their holdings of the stock. Arizona State Retirement System grew its stake in shares of Apogee Therapeutics by 4.5% during the 2nd 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. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Apogee Therapeutics by 21.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company’s stock valued at $94,000 after buying an additional 285 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Apogee Therapeutics in the 3rd quarter worth approximately $71,000. Principal Financial Group Inc. grew its stake in Apogee Therapeutics by 26.3% in the 2nd quarter. Principal Financial Group Inc. now owns 6,442 shares of the company’s stock valued at $253,000 after buying an additional 1,340 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in Apogee Therapeutics by 25.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 8,800 shares of the company’s stock valued at $517,000 after acquiring an additional 1,800 shares during the period. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Insider Buying and Selling

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 15,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $59.22, for a total transaction of $888,300.00. Following the completion of the sale, the chief executive officer now directly owns 1,339,487 shares in the company, valued at $79,324,420.14. This represents a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Carl Dambkowski sold 6,665 shares of Apogee Therapeutics stock in a transaction dated 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 owns 274,128 shares in the company, valued at approximately $15,422,441.28. This represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 114,995 shares of company stock worth $6,128,295 in the last quarter. 36.10% of the stock is owned by insiders.

Apogee Therapeutics Stock Up 1.7 %

Shares of APGE stock opened at $44.70 on Friday. The business has a 50-day moving average price of $53.83 and a two-hundred day moving average price of $48.54. Apogee Therapeutics, Inc. has a 12-month low of $16.39 and a 12-month high of $72.29.

Analysts Set New Price Targets

APGE has been the topic of a number of recent research reports. Guggenheim increased their price objective on Apogee Therapeutics from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday. Canaccord Genuity Group started coverage on shares of Apogee Therapeutics in a research note on Monday. They issued a “buy” rating and a $89.00 target price on the stock. Canaccord Genuity Group initiated coverage on Apogee Therapeutics in a research report on Monday. They issued a “buy” rating and a $89.00 price objective on the stock. Finally, Wedbush restated an “outperform” rating and set a $87.00 target price on shares of Apogee Therapeutics in a research report on Tuesday, November 12th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $83.50.

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.