Fmr LLC Sells 3,100 Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE)

Fmr LLC reduced its stake in shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) by 0.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 7,499,382 shares of the company’s stock after selling 3,100 shares during the period. Fmr LLC owned about 0.17% of Apogee Therapeutics worth $339,722,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in APGE. Geode Capital Management LLC grew its holdings in Apogee Therapeutics by 11.2% during the third quarter. Geode Capital Management LLC now owns 823,839 shares of the company’s stock worth $48,401,000 after buying an additional 82,978 shares in the last quarter. Barclays PLC grew its stake in shares of Apogee Therapeutics by 369.2% in the 3rd quarter. Barclays PLC now owns 365,046 shares of the company’s stock worth $21,443,000 after acquiring an additional 287,243 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Apogee Therapeutics by 22.2% in the 4th quarter. SG Americas Securities LLC now owns 9,890 shares of the company’s stock worth $448,000 after acquiring an additional 1,796 shares in the last quarter. Swiss National Bank raised its holdings in shares of Apogee Therapeutics by 17.5% in the fourth quarter. Swiss National Bank now owns 44,300 shares of the company’s stock valued at $2,007,000 after purchasing an additional 6,600 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Apogee Therapeutics by 4.3% during the third quarter. JPMorgan Chase & Co. now owns 29,555 shares of the company’s stock valued at $1,736,000 after purchasing an additional 1,212 shares in the last quarter. 79.04% of the stock is owned by institutional investors.

Apogee Therapeutics Stock Performance

Shares of APGE opened at $29.94 on Friday. The firm has a market cap of $1.35 billion, a P/E ratio of -12.37 and a beta of 1.72. Apogee Therapeutics, Inc. has a fifty-two week low of $26.20 and a fifty-two week high of $63.50. The business has a 50-day moving average of $35.99 and a 200 day moving average of $44.45.

Apogee Therapeutics (NASDAQ:APGE) last posted its quarterly earnings results on Monday, March 3rd. The company reported ($1.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.94) by ($0.25). As a group, research analysts predict that Apogee Therapeutics, Inc. will post -3.09 earnings per share for the current fiscal year.

Insider Activity at Apogee Therapeutics

In related news, CEO Michael Thomas Henderson sold 10,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $30.15, for a total transaction of $301,500.00. Following the sale, the chief executive officer now owns 1,292,987 shares of the company’s stock, valued at approximately $38,983,558.05. This represents a 0.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Carl Dambkowski sold 3,520 shares of Apogee Therapeutics stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $40.69, for a total value of $143,228.80. Following the transaction, the insider now directly owns 252,623 shares of the company’s stock, valued at $10,279,229.87. The trade was a 1.37 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,970 shares of company stock worth $1,241,701. Corporate insiders own 36.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on APGE. Guggenheim reiterated a “buy” rating on shares of Apogee Therapeutics in a research note on Monday, February 10th. Wedbush reaffirmed an “outperform” rating and set a $90.00 price target on shares of Apogee Therapeutics in a research report on Tuesday, March 11th. Finally, Citigroup started coverage on Apogee Therapeutics in a research report on Thursday, March 13th. They issued a “buy” rating and a $95.00 price objective on the stock. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $92.17.

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.