Diadema Partners LP Acquires Shares of 50,620 Apogee Therapeutics, Inc. (NASDAQ:APGE)

Diadema Partners LP bought a new stake in Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 50,620 shares of the company's stock, valued at approximately $2,293,000. Apogee Therapeutics accounts for 1.0% of Diadema Partners LP's holdings, making the stock its 21st largest holding. Diadema Partners LP owned 0.11% of Apogee Therapeutics at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Optimize Financial Inc bought a new stake in Apogee Therapeutics during the 4th quarter worth approximately $203,000. Aigen Investment Management LP purchased a new stake in Apogee Therapeutics in the 4th quarter valued at $216,000. Commonwealth Equity Services LLC purchased a new position in Apogee Therapeutics during the 4th quarter worth $222,000. KLP Kapitalforvaltning AS bought a new stake in shares of Apogee Therapeutics in the 4th quarter worth $226,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Apogee Therapeutics by 356.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,287 shares of the company's stock valued at $285,000 after purchasing an additional 4,910 shares during the last quarter. 79.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Apogee Therapeutics Price Performance

NASDAQ:APGE traded down $0.20 on Friday, reaching $36.85. 578,730 shares of the company's stock were exchanged, compared to its average volume of 513,443. The stock has a fifty day simple moving average of $35.15 and a 200-day simple moving average of $42.73. Apogee Therapeutics, Inc. has a 52 week low of $26.20 and a 52 week high of $63.50. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of -15.23 and a beta of 1.72.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last released its quarterly earnings data on Monday, March 3rd. The company reported ($1.19) earnings per share for the quarter, missing analysts' consensus estimates of ($0.94) by ($0.25). As a group, sell-side analysts predict that Apogee Therapeutics, Inc. will post -3.09 EPS for the current year.

Insider Activity at Apogee Therapeutics

In other news, CEO Michael Thomas Henderson sold 15,000 shares of the company's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $40.58, for a total value of $608,700.00. Following the transaction, the chief executive officer now owns 1,302,987 shares of the company's stock, valued at approximately $52,875,212.46. This represents a 1.14 % decrease in their ownership of the stock. The transaction 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 Apogee Therapeutics stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $30.48, for a total value of $48,463.20. Following the sale, 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,970 shares of company stock worth $1,241,701. 36.10% of the stock is owned by company 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.