Apogee Therapeutics, Inc. (NASDAQ:APGE) Shares Sold by Invesco Ltd.

Invesco Ltd. reduced its stake in shares of Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report) by 83.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in APGE. Alliancebernstein L.P. lifted its holdings in shares of Apogee Therapeutics by 13.5% during the 4th quarter. Alliancebernstein L.P. now owns 1,355,185 shares of the company's stock valued at $61,390,000 after buying an additional 160,822 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Apogee Therapeutics by 0.6% during the fourth quarter. Franklin Resources Inc. now owns 866,188 shares of the company's stock valued at $39,238,000 after purchasing an additional 5,199 shares in the last quarter. Barclays PLC grew its position in Apogee Therapeutics by 369.2% in the third 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 period. Rhumbline Advisers boosted its position in Apogee Therapeutics by 3.4% in the fourth quarter. Rhumbline Advisers now owns 52,720 shares of the company's stock valued at $2,388,000 after buying an additional 1,750 shares in the last quarter. Finally, Swiss National Bank grew its position in 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 acquiring an additional 6,600 shares during the last quarter. 79.04% of the stock is currently owned by institutional investors.

Apogee Therapeutics Stock Performance

Shares of Apogee Therapeutics stock traded down $0.31 on Wednesday, reaching $35.26. 702,231 shares of the company's stock were exchanged, compared to its average volume of 520,767. The firm's 50-day moving average is $36.00 and its two-hundred day moving average is $41.86. The company has a market capitalization of $1.58 billion, a P/E ratio of -14.57 and a beta of 1.70. 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 quarterly 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). On average, analysts expect that Apogee Therapeutics, Inc. will post -3.09 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Michael Thomas Henderson sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $30.15, for a total value of $301,500.00. Following the sale, the chief executive officer now owns 1,292,987 shares in the company, valued at approximately $38,983,558.05. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Carl Dambkowski sold 3,860 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $36.22, for a total transaction 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. This trade represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,450 shares of company stock worth $489,772 in the last quarter. 36.10% of the stock is owned by insiders.

Analysts Set New Price Targets

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