Swiss National Bank Reduces Position in Apogee Therapeutics Inc. $APGE

Swiss National Bank decreased its position in shares of Apogee Therapeutics Inc. (NASDAQ:APGE) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,600 shares of the company’s stock after selling 700 shares during the period. Swiss National Bank owned 0.10% of Apogee Therapeutics worth $1,629,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of APGE. Ameriprise Financial Inc. purchased a new position in shares of Apogee Therapeutics during the fourth quarter worth approximately $259,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Apogee Therapeutics by 4.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,835 shares of the company’s stock valued at $1,078,000 after purchasing an additional 931 shares during the last quarter. Rhumbline Advisers boosted its stake in Apogee Therapeutics by 3.2% during the 1st quarter. Rhumbline Advisers now owns 54,385 shares of the company’s stock worth $2,032,000 after purchasing an additional 1,665 shares during the period. BNP Paribas Financial Markets purchased a new position in Apogee Therapeutics during the 4th quarter worth $219,000. Finally, Bank of New York Mellon Corp increased its stake in Apogee Therapeutics by 93.3% in the first quarter. Bank of New York Mellon Corp now owns 214,231 shares of the company’s stock valued at $8,004,000 after purchasing an additional 103,404 shares during the period. 79.04% of the stock is owned by institutional investors and hedge funds.

Apogee Therapeutics Trading Up 5.3%

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

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

Insider Transactions at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 10,090 shares of the firm’s stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $45.09, for a total value of $454,958.10. Following the completion of the sale, the insider owned 238,998 shares of the company’s stock, valued at approximately $10,776,419.82. This trade represents a 4.05% 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. Insiders sold a total of 15,540 shares of company stock valued at $658,625 in the last three months. Corporate insiders own 42.77% of the company’s stock.

Analyst Upgrades and Downgrades

APGE has been the subject of a number of research reports. Guggenheim reaffirmed a “buy” rating and issued a $116.00 target price on shares of Apogee Therapeutics in a report on Wednesday, July 2nd. BTIG Research boosted their price target on Apogee Therapeutics from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, July 7th. Citigroup reaffirmed a “buy” rating on shares of Apogee Therapeutics in a research note on Monday, July 7th. Zacks Research downgraded Apogee Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 14th. Finally, Wedbush reissued an “outperform” rating and issued a $90.00 target price on shares of Apogee Therapeutics in a report on Monday, August 11th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $99.00.

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.