Frontier Capital Management Co. LLC Sells 138,605 Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE)

Frontier Capital Management Co. LLC reduced its stake in Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report) by 44.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 172,711 shares of the company's stock after selling 138,605 shares during the period. Frontier Capital Management Co. LLC owned approximately 0.38% of Apogee Therapeutics worth $7,824,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. grew its stake in shares of Apogee Therapeutics by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,547 shares of the company's stock worth $432,000 after buying an additional 892 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of 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 acquiring an additional 960 shares during the period. New York State Common Retirement Fund raised its stake in shares of Apogee Therapeutics by 8.9% during the 4th quarter. New York State Common Retirement Fund now owns 12,187 shares of the company's stock worth $552,000 after acquiring an additional 1,000 shares in the last quarter. JPMorgan Chase & Co. increased its position in Apogee Therapeutics by 4.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 29,555 shares of the company's stock valued at $1,736,000 after buying an additional 1,212 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of Apogee Therapeutics by 3.4% in the 4th quarter. Rhumbline Advisers now owns 52,720 shares of the company's stock valued at $2,388,000 after purchasing an additional 1,750 shares during the last quarter. 79.04% of the stock is currently owned by institutional investors.

Insider Activity at Apogee Therapeutics

In other news, CEO Michael Thomas Henderson sold 10,000 shares of the business's stock in a transaction 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 of the company's stock, valued at $38,983,558.05. The trade was 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 1,590 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $30.48, for a total transaction of $48,463.20. Following the completion of the transaction, the insider now directly owns 251,033 shares of the company's stock, valued at $7,651,485.84. This represents a 0.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,175 shares of company stock worth $587,191 in the last 90 days. 36.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Citigroup assumed coverage on shares of Apogee Therapeutics in a research report on Thursday, March 13th. They set a "buy" rating and a $95.00 price target for the company. Wedbush reiterated an "outperform" rating and set a $90.00 price objective on shares of Apogee Therapeutics in a research note on Tuesday, March 11th. Finally, Guggenheim reiterated a "buy" rating on shares of Apogee Therapeutics in a research report on Monday, February 10th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Apogee Therapeutics has an average rating of "Buy" and a consensus price target of $94.60.

Apogee Therapeutics Trading Up 0.8%

NASDAQ:APGE traded up $0.34 on Thursday, reaching $40.19. The stock had a trading volume of 195,428 shares, compared to its average volume of 522,659. The stock has a market cap of $1.80 billion, a P/E ratio of -16.59 and a beta of 1.70. Apogee Therapeutics, Inc. has a 12-month low of $26.20 and a 12-month high of $63.50. The company has a 50-day moving average of $36.59 and a 200 day moving average of $41.39.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.19) by $0.24. On average, equities analysts predict that Apogee Therapeutics, Inc. will post -3.09 EPS for the current year.

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.