Principal Financial Group Inc. Has $207,000 Stake in Apogee Therapeutics, Inc. (NASDAQ:APGE)

Principal Financial Group Inc. cut its holdings in Apogee Therapeutics, Inc. (NASDAQ:APGE) by 45.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,517 shares of the company’s stock after selling 2,925 shares during the period. Principal Financial Group Inc.’s holdings in Apogee Therapeutics were worth $207,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in APGE. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Apogee Therapeutics by 21.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company’s stock valued at $94,000 after purchasing an additional 285 shares during the period. Kennedy Capital Management LLC acquired a new position in Apogee Therapeutics in the 1st quarter valued at $212,000. Allspring Global Investments Holdings LLC bought a new position in Apogee Therapeutics in the 2nd quarter worth $143,000. Virtu Financial LLC acquired a new position in Apogee Therapeutics during the 1st quarter worth $362,000. Finally, Arizona State Retirement System boosted its holdings in Apogee Therapeutics by 4.5% during the second quarter. Arizona State Retirement System now owns 5,993 shares of the company’s stock valued at $236,000 after acquiring an additional 258 shares during the period. Institutional investors and hedge funds own 79.04% of the company’s stock.

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, September 4th. The stock was sold at an average price of $47.62, for a total transaction of $1,904,800.00. Following the completion of the transaction, the chief executive officer now owns 1,394,487 shares of the company’s stock, valued at $66,405,470.94. This represents a 2.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Carl Dambkowski sold 6,665 shares of Apogee Therapeutics stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $59.12, for a total transaction of $394,034.80. Following the completion of the sale, the insider now owns 267,463 shares in the company, valued at $15,812,412.56. The trade was a 2.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 114,995 shares of company stock worth $6,128,295 in the last quarter. Corporate insiders own 36.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on APGE. 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 price objective on the stock. Canaccord Genuity Group assumed coverage on Apogee Therapeutics in a research report on Monday. They issued a “buy” rating and a $89.00 price objective for the company. Finally, Wedbush restated an “outperform” rating and set a $87.00 price objective on shares of Apogee Therapeutics in a research report on Tuesday, November 12th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $81.13.

Apogee Therapeutics Price Performance

APGE opened at $43.85 on Tuesday. The firm has a 50 day simple moving average of $54.14 and a 200 day simple moving average of $48.63. The company has a market cap of $1.97 billion, a price-to-earnings ratio of -18.12 and a beta of 2.93. Apogee Therapeutics, Inc. has a fifty-two week low of $16.39 and a fifty-two week high of $72.29.

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.