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

Geode Capital Management LLC decreased its stake in Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 816,113 shares of the company's stock after selling 7,726 shares during the quarter. Geode Capital Management LLC owned approximately 1.81% of Apogee Therapeutics worth $36,978,000 as of its most recent SEC filing.

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

Apogee Therapeutics Stock Performance

Shares of Apogee Therapeutics stock traded up $1.07 during trading hours on Friday, hitting $33.11. The company's stock had a trading volume of 347,971 shares, compared to its average volume of 507,411. The firm has a fifty day moving average of $35.17 and a 200-day moving average of $43.41. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of -13.68 and a beta of 1.72. Apogee Therapeutics, Inc. has a twelve month low of $26.20 and a twelve month 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) EPS for the quarter, missing analysts' consensus estimates of ($0.94) by ($0.25). On average, sell-side analysts expect that Apogee Therapeutics, Inc. will post -3.09 earnings per share for the current fiscal year.

Insider Activity at Apogee Therapeutics

In other news, insider Carl Dambkowski sold 3,860 shares of Apogee Therapeutics stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $36.22, for a total value of $139,809.20. Following the completion of the sale, the insider now directly owns 247,173 shares of the company's stock, valued at approximately $8,952,606.06. The trade was a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 directly owns 1,292,987 shares in the company, valued at approximately $38,983,558.05. The trade was a 0.77 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,970 shares of company stock worth $1,241,701. Insiders own 36.10% of the company's stock.

Analyst Upgrades and Downgrades

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

Apogee Therapeutics Company 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.