Deutsche Bank AG Reduces Stock Position in Apogee Therapeutics Inc. $APGE

Deutsche Bank AG lessened its holdings in shares of Apogee Therapeutics Inc. (NASDAQ:APGE) by 9.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,869 shares of the company’s stock after selling 2,870 shares during the period. Deutsche Bank AG owned about 0.06% of Apogee Therapeutics worth $1,079,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. GF Fund Management CO. LTD. purchased a new stake in Apogee Therapeutics in the 4th quarter worth approximately $43,000. BNP Paribas Financial Markets bought a new position in shares of Apogee Therapeutics during the fourth quarter valued at approximately $219,000. GAMMA Investing LLC lifted its stake in Apogee Therapeutics by 3,560.1% in the first quarter. GAMMA Investing LLC now owns 5,417 shares of the company’s stock worth $202,000 after acquiring an additional 5,269 shares during the period. Ameriprise Financial Inc. purchased a new stake in Apogee Therapeutics in the fourth quarter worth $259,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Apogee Therapeutics by 356.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,287 shares of the company’s stock valued at $285,000 after acquiring an additional 4,910 shares in the last quarter. Institutional investors own 79.04% of the company’s stock.

Insider Buying and Selling

In other news, insider Carl Dambkowski sold 2,725 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $37.78, for a total value of $102,950.50. Following the sale, the insider directly owned 236,273 shares of the company’s stock, valued at approximately $8,926,393.94. This represents a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 15,540 shares of company stock valued at $658,625 over the last 90 days. Insiders own 42.77% of the company’s stock.

Apogee Therapeutics Stock Performance

Shares of APGE opened at $38.27 on Monday. Apogee Therapeutics Inc. has a fifty-two week low of $26.20 and a fifty-two week high of $63.50. The firm’s 50-day simple moving average is $39.55 and its two-hundred day simple moving average is $37.73. The stock has a market cap of $1.76 billion, a PE ratio of -9.27 and a beta of 1.43.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings results on Monday, August 11th. The company reported ($1.13) EPS for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.10). Equities research analysts predict that Apogee Therapeutics Inc. will post -3.09 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Zacks Research lowered shares of Apogee Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. Citigroup reissued a “buy” rating on shares of Apogee Therapeutics in a research note on Monday, July 7th. Wedbush restated an “outperform” rating and issued a $90.00 price objective on shares of Apogee Therapeutics in a report on Monday, August 11th. Guggenheim reiterated a “buy” rating and set a $116.00 target price on shares of Apogee Therapeutics in a report on Wednesday, July 2nd. Finally, BTIG Research raised their target price on Apogee Therapeutics from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, July 7th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $99.00.

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.