RA Capital Management L.P. Reduces Stake in Apogee Therapeutics, Inc. (NASDAQ:APGE)

RA Capital Management L.P. trimmed its position in shares of Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report) by 20.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,569,491 shares of the company's stock after selling 392,372 shares during the quarter. Apogee Therapeutics accounts for approximately 0.9% of RA Capital Management L.P.'s investment portfolio, making the stock its 26th largest position. RA Capital Management L.P. owned 3.49% of Apogee Therapeutics worth $71,098,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of APGE. Barclays PLC grew its holdings in Apogee Therapeutics by 369.2% during the 3rd quarter. Barclays PLC now owns 365,046 shares of the company's stock valued at $21,443,000 after purchasing an additional 287,243 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Apogee Therapeutics by 4.3% in the third quarter. JPMorgan Chase & Co. now owns 29,555 shares of the company's stock worth $1,736,000 after buying an additional 1,212 shares during the period. SG Americas Securities LLC lifted its stake in shares of Apogee Therapeutics by 22.2% during the 4th quarter. SG Americas Securities LLC now owns 9,890 shares of the company's stock worth $448,000 after acquiring an additional 1,796 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Apogee Therapeutics by 10.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,547 shares of the company's stock worth $432,000 after acquiring an additional 892 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in Apogee Therapeutics by 3.4% during the 4th quarter. Rhumbline Advisers now owns 52,720 shares of the company's stock valued at $2,388,000 after acquiring an additional 1,750 shares during the period. Institutional investors own 79.04% of the company's stock.

Analyst Ratings Changes

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

Apogee Therapeutics Stock Down 8.5 %

Shares of NASDAQ APGE traded down $3.36 during midday trading on Tuesday, reaching $36.04. 349,659 shares of the company's stock traded hands, compared to its average volume of 515,603. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -14.88 and a beta of 1.70. The stock's 50 day simple moving average is $35.82 and its 200-day simple moving average is $41.95. Apogee Therapeutics, Inc. has a one year low of $26.20 and a one year high of $63.50.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last announced its earnings results on Monday, March 3rd. The company reported ($1.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.94) by ($0.25). Equities analysts predict that Apogee Therapeutics, Inc. will post -3.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Apogee Therapeutics news, insider Carl Dambkowski sold 3,520 shares of the firm's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $40.69, for a total value of $143,228.80. Following the completion of the sale, the insider now owns 252,623 shares of the company's stock, valued at approximately $10,279,229.87. This trade represents a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Thomas Henderson sold 10,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $30.15, for a total transaction of $301,500.00. Following the transaction, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,970 shares of company stock worth $1,241,701. 36.10% of the stock is owned by corporate 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.