Apogee Therapeutics, Inc. (NASDAQ:APGE) Holdings Lowered by Invesco Ltd.

Invesco Ltd. lowered its stake in Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report) by 83.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,256 shares of the company's stock after selling 110,910 shares during the quarter. Invesco Ltd.'s holdings in Apogee Therapeutics were worth $963,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

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

Apogee Therapeutics Price Performance

Shares of Apogee Therapeutics stock opened at $39.20 on Friday. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of -16.20 and a beta of 1.72. The stock has a 50-day simple moving average of $35.51 and a 200-day simple moving average of $42.35. 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) EPS for the quarter, missing the consensus estimate of ($0.94) by ($0.25). As a group, equities research analysts predict that Apogee Therapeutics, Inc. will post -3.09 earnings per share for the current year.

Insiders Place Their Bets

In other Apogee Therapeutics news, insider Carl Dambkowski sold 3,520 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $40.69, for a total transaction of $143,228.80. Following the completion of the sale, the insider now directly owns 252,623 shares in the company, valued at $10,279,229.87. This represents a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Thomas Henderson sold 10,000 shares of Apogee Therapeutics 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 completion of the transaction, the chief executive officer now owns 1,292,987 shares in the company, valued at $38,983,558.05. The trade was a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,970 shares of company stock valued at $1,241,701 over the last three months. 36.10% of the stock is currently owned by insiders.

Apogee Therapeutics 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.

Want to see what other hedge funds are holding APGE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.