Kennedy Capital Management LLC Grows Position in Apogee Therapeutics, Inc. (NASDAQ:APGE)

Kennedy Capital Management LLC grew its position in shares of Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report) by 75.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 72,307 shares of the company's stock after acquiring an additional 31,113 shares during the period. Kennedy Capital Management LLC owned about 0.16% of Apogee Therapeutics worth $3,276,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Legal & General Group Plc boosted its position in shares of Apogee Therapeutics by 15.7% in the 4th quarter. Legal & General Group Plc now owns 25,873 shares of the company's stock worth $1,172,000 after purchasing an additional 3,520 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Apogee Therapeutics by 0.6% in the fourth quarter. Franklin Resources Inc. now owns 866,188 shares of the company's stock worth $39,238,000 after acquiring an additional 5,199 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of Apogee Therapeutics by 13.5% during the fourth quarter. Alliancebernstein L.P. now owns 1,355,185 shares of the company's stock valued at $61,390,000 after acquiring an additional 160,822 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Apogee Therapeutics by 26.1% in the 4th quarter. JPMorgan Chase & Co. now owns 37,255 shares of the company's stock worth $1,688,000 after purchasing an additional 7,700 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in Apogee Therapeutics in the 4th quarter worth about $226,000. Hedge funds and other institutional investors own 79.04% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wedbush restated an "outperform" rating and set a $90.00 price objective on shares of Apogee Therapeutics in a research note on Tuesday, March 11th. Citigroup started coverage on shares of Apogee Therapeutics in a report on Thursday, March 13th. They issued a "buy" rating and a $95.00 price objective for the company. Finally, Guggenheim reiterated a "buy" rating on shares of Apogee Therapeutics in a research note on Monday, February 10th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $92.17.

Apogee Therapeutics Stock Up 3.3 %

APGE traded up $1.07 during mid-day trading on Friday, reaching $33.11. 347,971 shares of the company traded hands, compared to its average volume of 506,799. The company's fifty day moving average price is $35.20 and its 200-day moving average price is $43.67. The stock has a market capitalization of $1.49 billion, a P/E ratio of -13.68 and a beta of 1.72. Apogee Therapeutics, Inc. has a 52-week low of $26.20 and a 52-week high of $63.50.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last posted its earnings results on Monday, March 3rd. The company reported ($1.19) earnings per share for the quarter, missing analysts' consensus estimates of ($0.94) by ($0.25). As a group, sell-side analysts forecast that Apogee Therapeutics, Inc. will post -3.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Michael Thomas Henderson sold 10,000 shares of the firm's stock in a transaction on 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 directly owns 1,292,987 shares of the company's stock, valued at approximately $38,983,558.05. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Carl Dambkowski sold 3,520 shares of the business's 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 sale, the insider now directly owns 252,623 shares of the company's stock, valued at $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 quarter, insiders have sold 33,970 shares of company stock valued at $1,241,701. 36.10% of the stock is owned by insiders.

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.