ADAR1 Capital Management LLC Decreases Stock Position in Apogee Therapeutics, Inc. (NASDAQ:APGE)

ADAR1 Capital Management LLC trimmed its stake in shares of Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report) by 27.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,274 shares of the company's stock after selling 15,909 shares during the period. ADAR1 Capital Management LLC owned 0.09% of Apogee Therapeutics worth $1,870,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in APGE. Geode Capital Management LLC raised its stake in Apogee Therapeutics by 11.2% in the 3rd quarter. Geode Capital Management LLC now owns 823,839 shares of the company's stock valued at $48,401,000 after purchasing an additional 82,978 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Apogee Therapeutics by 17.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 280,428 shares of the company's stock worth $16,472,000 after acquiring an additional 41,686 shares during the last quarter. Barclays PLC raised its holdings in Apogee Therapeutics by 369.2% in the 3rd quarter. Barclays PLC now owns 365,046 shares of the company's stock valued at $21,443,000 after acquiring an additional 287,243 shares during the last quarter. SG Americas Securities LLC lifted its stake in Apogee Therapeutics by 22.2% in the 4th quarter. SG Americas Securities LLC now owns 9,890 shares of the company's stock worth $448,000 after purchasing an additional 1,796 shares in the last quarter. Finally, Swiss National Bank boosted its holdings 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 last quarter. 79.04% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on APGE shares. Citigroup initiated coverage on Apogee Therapeutics in a research report on Thursday, March 13th. They set a "buy" rating and a $95.00 price objective on the stock. Guggenheim reiterated a "buy" rating on shares of Apogee Therapeutics in a report on Monday, February 10th. Finally, Wedbush reissued an "outperform" rating and issued a $90.00 price objective on shares of Apogee Therapeutics in a report on Tuesday, March 11th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $92.17.

Insider Activity

In related news, CEO Michael Thomas Henderson sold 15,000 shares of the firm's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $40.58, for a total transaction of $608,700.00. Following the completion of the transaction, the chief executive officer now directly owns 1,302,987 shares in the company, valued at $52,875,212.46. This trade represents a 1.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Carl Dambkowski sold 1,590 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $30.48, for a total transaction of $48,463.20. Following the sale, the insider now owns 251,033 shares in the company, valued at $7,651,485.84. This trade represents a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,970 shares of company stock valued at $1,241,701. Company insiders own 36.10% of the company's stock.

Apogee Therapeutics Stock Up 6.2 %

NASDAQ:APGE traded up $1.86 on Friday, reaching $31.80. The company's stock had a trading volume of 709,106 shares, compared to its average volume of 505,093. Apogee Therapeutics, Inc. has a 12-month low of $26.20 and a 12-month high of $63.50. The stock has a 50 day moving average price of $35.81 and a 200 day moving average price of $44.27. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -13.14 and a beta of 1.72.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last issued its quarterly earnings data 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). Equities research analysts expect that Apogee Therapeutics, Inc. will post -3.09 EPS for the current fiscal year.

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.