Wells Fargo & Company MN Lowers Stock Holdings in Apogee Therapeutics, Inc. (NASDAQ:APGE)

Wells Fargo & Company MN lowered its stake in Apogee Therapeutics, Inc. (NASDAQ:APGE) by 82.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,705 shares of the company’s stock after selling 80,585 shares during the period. Wells Fargo & Company MN’s holdings in Apogee Therapeutics were worth $802,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in APGE. Aigen Investment Management LP bought a new position in shares of Apogee Therapeutics during the fourth quarter valued at $216,000. Commonwealth Equity Services LLC bought a new stake in Apogee Therapeutics during the 4th quarter valued at about $222,000. KLP Kapitalforvaltning AS purchased a new position in Apogee Therapeutics in the fourth quarter worth about $226,000. Arizona State Retirement System lifted its stake in shares of Apogee Therapeutics by 17.3% in the fourth quarter. Arizona State Retirement System now owns 6,517 shares of the company’s stock worth $295,000 after buying an additional 960 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in shares of Apogee Therapeutics by 38.2% during the fourth quarter. Teacher Retirement System of Texas now owns 6,689 shares of the company’s stock valued at $303,000 after buying an additional 1,848 shares during the last quarter. Institutional investors own 79.04% of the company’s stock.

Insider Buying and Selling at Apogee Therapeutics

In other Apogee Therapeutics 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 value of $301,500.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Carl Dambkowski sold 3,520 shares of the 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 completion of the transaction, the insider now directly owns 252,623 shares in the company, valued at approximately $10,279,229.87. This represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,970 shares of company stock valued at $1,241,701. 36.10% of the stock is owned by company insiders.

Apogee Therapeutics Price Performance

Apogee Therapeutics stock opened at $39.25 on Thursday. Apogee Therapeutics, Inc. has a one year low of $26.20 and a one year high of $63.50. The stock has a market capitalization of $1.77 billion, a PE ratio of -16.22 and a beta of 1.72. The business’s fifty day moving average is $35.40 and its 200 day moving average is $42.46.

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

Wall Street Analyst Weigh In

APGE has been the topic of several analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price objective on shares of Apogee Therapeutics in a research report on Tuesday, March 11th. Citigroup began coverage on Apogee Therapeutics in a report on Thursday, March 13th. They set a “buy” rating and a $95.00 price target on the stock. Finally, Guggenheim reaffirmed a “buy” rating on shares of Apogee Therapeutics in a research report on Monday, February 10th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Apogee Therapeutics has a consensus rating of “Buy” and an average price target of $92.17.

About Apogee Therapeutics

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.