Teachers Retirement System of The State of Kentucky Cuts Stake in Apogee Therapeutics, Inc. (NASDAQ:APGE)

Teachers Retirement System of The State of Kentucky reduced its holdings in shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) by 21.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,644 shares of the company’s stock after selling 3,163 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Apogee Therapeutics were worth $684,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Arizona State Retirement System boosted its stake in shares of Apogee Therapeutics by 4.5% in the 2nd quarter. Arizona State Retirement System now owns 5,993 shares of the company’s stock valued at $236,000 after purchasing an additional 258 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Apogee Therapeutics by 21.2% during the third 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Apogee Therapeutics during the third quarter valued at about $71,000. Principal Financial Group Inc. grew its stake in shares of Apogee Therapeutics by 26.3% during the second 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 during the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in shares of Apogee Therapeutics by 25.7% in the third quarter. Handelsbanken Fonder AB now owns 8,800 shares of the company’s stock worth $517,000 after buying an additional 1,800 shares during the period. 79.04% of the stock is owned by hedge funds and other institutional investors.

Apogee Therapeutics Stock Performance

APGE opened at $44.69 on Thursday. The stock has a market capitalization of $2.01 billion, a PE ratio of -18.47 and a beta of 2.30. The stock’s 50 day moving average price is $50.92 and its 200-day moving average price is $48.30. Apogee Therapeutics, Inc. has a 52-week low of $22.20 and a 52-week high of $72.29.

Analysts Set New Price Targets

APGE has been the subject of several analyst reports. Canaccord Genuity Group initiated coverage on Apogee Therapeutics in a report on Monday, November 25th. They set a “buy” rating and a $89.00 target price for the company. Wedbush boosted their price objective on Apogee Therapeutics from $87.00 to $90.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Canaccord Genuity Group began coverage on shares of Apogee Therapeutics in a report on Monday, November 25th. They issued a “buy” rating and a $89.00 target price on the stock. Finally, Guggenheim reiterated a “buy” rating on shares of Apogee Therapeutics in a report on Thursday, December 12th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $83.88.

Insider Activity at Apogee Therapeutics

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $56.23, for a total transaction of $2,249,200.00. Following the transaction, the chief executive officer now owns 1,354,487 shares in the company, valued at approximately $76,162,804.01. This represents a 2.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark C. Mckenna bought 20,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was purchased at an average cost of $49.54 per share, with a total value of $990,800.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $990,800. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 94,535 shares of company stock worth $5,133,635 over the last quarter. Corporate insiders own 36.10% of the company’s stock.

Apogee Therapeutics Company 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.