Apogee Therapeutics, Inc. (NASDAQ:APGE) Sees Large Increase in Short Interest

Apogee Therapeutics, Inc. (NASDAQ:APGE - Get Free Report) saw a significant increase in short interest during the month of August. As of August 15th, there was short interest totalling 8,190,000 shares, an increase of 5.3% from the July 31st total of 7,780,000 shares. Currently, 22.0% of the company's shares are sold short. Based on an average daily volume of 443,300 shares, the short-interest ratio is presently 18.5 days.

Insider Transactions at Apogee Therapeutics

In other news, CEO Michael Thomas Henderson sold 15,000 shares of the business's stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $37.26, for a total transaction of $558,900.00. Following the sale, the chief executive officer now directly owns 1,474,487 shares in the company, valued at $54,939,385.62. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Michael Thomas Henderson sold 15,000 shares of the business's stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $37.26, for a total transaction of $558,900.00. Following the sale, the chief executive officer now directly owns 1,474,487 shares in the company, valued at $54,939,385.62. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Carl Dambkowski sold 5,995 shares of the business's stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $37.60, for a total value of $225,412.00. Following the sale, the insider now owns 294,793 shares in the company, valued at $11,084,216.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,330 shares of company stock worth $2,996,986. Insiders own 36.10% of the company's stock.

Hedge Funds Weigh In On Apogee Therapeutics

A number of institutional investors have recently modified their holdings of APGE. Franklin Resources Inc. grew its holdings in Apogee Therapeutics by 9.3% during the fourth quarter. Franklin Resources Inc. now owns 1,089,780 shares of the company's stock worth $30,448,000 after buying an additional 92,423 shares in the last quarter. Braidwell LP grew its holdings in Apogee Therapeutics by 38.7% during the fourth quarter. Braidwell LP now owns 681,101 shares of the company's stock worth $19,030,000 after buying an additional 189,988 shares in the last quarter. Vanguard Group Inc. grew its stake in Apogee Therapeutics by 60.7% in the 1st quarter. Vanguard Group Inc. now owns 1,868,666 shares of the company's stock valued at $124,173,000 after purchasing an additional 705,795 shares during the period. Jennison Associates LLC grew its stake in Apogee Therapeutics by 192.0% in the 1st quarter. Jennison Associates LLC now owns 302,892 shares of the company's stock valued at $20,127,000 after purchasing an additional 199,148 shares during the period. Finally, Blackstone Inc. grew its stake in Apogee Therapeutics by 17.6% in the 4th quarter. Blackstone Inc. now owns 351,810 shares of the company's stock valued at $9,830,000 after purchasing an additional 52,688 shares during the period. 79.04% of the stock is owned by institutional investors and hedge funds.

Apogee Therapeutics Price Performance

Shares of NASDAQ:APGE traded up $1.74 during trading on Monday, reaching $51.17. 454,900 shares of the stock were exchanged, compared to its average volume of 518,767. Apogee Therapeutics has a 1-year low of $14.19 and a 1-year high of $72.29. The stock has a fifty day moving average of $44.84 and a two-hundred day moving average of $48.73. The firm has a market cap of $2.30 billion and a price-to-earnings ratio of -9.75.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last issued its earnings results on Monday, August 12th. The company reported ($0.60) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.60). Sell-side analysts forecast that Apogee Therapeutics will post -2.57 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wedbush reiterated an "outperform" rating and issued a $87.00 target price on shares of Apogee Therapeutics in a report on Monday, May 13th. Bank of America assumed coverage on Apogee Therapeutics in a report on Friday, May 10th. They issued a "buy" rating and a $80.00 target price on the stock. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Apogee Therapeutics currently has an average rating of "Buy" and an average price target of $78.50.

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.

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