JPMorgan Chase & Co. Increases Stock Holdings in Apogee Therapeutics, Inc. (NASDAQ:APGE)

JPMorgan Chase & Co. increased its holdings in shares of Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report) by 26.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,255 shares of the company's stock after purchasing an additional 7,700 shares during the period. JPMorgan Chase & Co. owned 0.08% of Apogee Therapeutics worth $1,688,000 as of its most recent SEC filing.

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

Apogee Therapeutics Trading Down 0.0 %

Shares of NASDAQ:APGE traded down $0.01 during trading on Tuesday, hitting $37.78. 366,630 shares of the stock were exchanged, compared to its average volume of 512,742. The company has a market cap of $1.70 billion, a PE ratio of -15.61 and a beta of 1.72. The company has a fifty day moving average price of $35.23 and a two-hundred day moving average price of $42.52. Apogee Therapeutics, Inc. has a 12-month low of $26.20 and a 12-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) earnings per share for the quarter, missing the consensus estimate of ($0.94) by ($0.25). Equities research analysts anticipate that Apogee Therapeutics, Inc. will post -3.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on APGE. Wedbush restated an "outperform" rating and issued a $90.00 target price on shares of Apogee Therapeutics in a research note on Tuesday, March 11th. Guggenheim reissued a "buy" rating on shares of Apogee Therapeutics in a research note on Monday, February 10th. Finally, Citigroup initiated coverage on Apogee Therapeutics in a research note on Thursday, March 13th. They issued a "buy" rating and a $95.00 price target on the stock. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Apogee Therapeutics presently has an average rating of "Buy" and a consensus price target of $92.17.

Insiders Place Their Bets

In related news, CEO Michael Thomas Henderson sold 10,000 shares of Apogee Therapeutics stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $30.15, for a total transaction of $301,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,292,987 shares in the company, valued at $38,983,558.05. The trade was a 0.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Carl Dambkowski sold 3,860 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were 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 in the company, valued at approximately $8,952,606.06. The trade was a 1.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,970 shares of company stock worth $1,241,701. Insiders own 36.10% of the company's stock.

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.