Commonwealth Equity Services LLC Buys Shares of 4,906 Apogee Therapeutics, Inc. (NASDAQ:APGE)

Commonwealth Equity Services LLC bought a new position in shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 4,906 shares of the company’s stock, valued at approximately $222,000.

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

Apogee Therapeutics Stock Performance

Shares of NASDAQ APGE opened at $31.80 on Thursday. Apogee Therapeutics, Inc. has a 1 year low of $26.20 and a 1 year high of $63.50. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -13.14 and a beta of 1.72. The stock’s 50-day simple moving average is $36.19 and its 200-day simple moving average is $44.66.

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 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on APGE shares. Guggenheim reiterated a “buy” rating on shares of Apogee Therapeutics in a research report 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 initiated coverage on shares of Apogee Therapeutics in a research note on Thursday, March 13th. They set a “buy” rating and a $95.00 price objective for the company. Six research 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 an average price target of $92.17.

Insiders Place Their Bets

In other Apogee Therapeutics news, insider Carl Dambkowski sold 3,520 shares of Apogee Therapeutics stock in a transaction that occurred on 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 owns 252,623 shares in the company, valued at approximately $10,279,229.87. The trade was a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Thomas Henderson sold 10,000 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 1,292,987 shares of the company’s stock, valued at approximately $38,983,558.05. The trade was a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,970 shares of company stock worth $1,241,701. Insiders own 36.10% of the company’s stock.

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.