Braidwell LP, an institutional investor, has made another significant investment in the biotech sector. The firm has purchased 491,113 shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) worth $10.46 million. This move comes after Braidwell LP recently adjusted its holdings in Krystal Biotech and Keros Therapeutics. Other institutional investors have also made changes to their positions in Apogee Therapeutics. The stock traded at $35.75 on Friday, with a 1-year low of $14.19 and a 1-year high of $38.06. Several research firms have given APGE a 'Buy' rating and a consensus target price of $38.33.
Apogee Therapeutics, Inc. is a biotech company focused on developing innovative treatments. The company's stock has been performing well, with a steady increase in its value over the past year. Braidwell LP's investment in Apogee Therapeutics indicates confidence in the company's potential and aligns with its strategy of investing in promising biotech ventures. With this new investment, Braidwell LP continues to diversify its portfolio and strengthen its position in the biotech industry.
Rhumbline Advisers, another institutional investor, has sold 1,879 shares of Apogee Enterprises, Inc. (NASDAQ:APOG) during the third quarter. The fund's holdings in Apogee Enterprises were worth $3,364,000 at the end of the reporting period. Other large investors, including Lazard Asset Management LLC, PNC Financial Services Group Inc., Mercer Global Advisors Inc. ADV, Point72 Hong Kong Ltd, and Barclays PLC, have also added to or reduced their stakes in the company. The stock is currently trading at $57.09 with a market cap of $1.26 billion. Apogee Enterprises reported earnings per share of $1.23 for the last quarter, beating analysts' estimates. The company also increased its quarterly dividend to $0.25 per share. Apogee Enterprises designs and develops glass and metal products primarily for the commercial construction sector.