ADAR1 Capital Management LLC Has $3.92 Million Holdings in Apogee Therapeutics Inc. $APGE

Key Points

• ADAR1 Capital Management LLC increased its stake in Apogee Therapeutics by 154.0%, purchasing an additional 63,579 shares, now holding a total of 104,853 shares valued at approximately $3.9 million.
• The stock has a 12-month range of $26.20 - $63.50 and is currently trading at around $36.37, with a market capitalization of $1.68 billion.
• Analysts remain optimistic about Apogee Therapeutics, with several rating it as a "buy" and the average target price set at $97.29, led by a re-evaluation of its growth potential.

ADAR1 Capital Management LLC increased its stake in shares of Apogee Therapeutics Inc. (NASDAQ:APGE - Free Report) by 154.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 104,853 shares of the company's stock after acquiring an additional 63,579 shares during the quarter. ADAR1 Capital Management LLC owned about 0.23% of Apogee Therapeutics worth $3,917,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Wellington Management Group LLP lifted its position in shares of Apogee Therapeutics by 21.4% in the 1st quarter. Wellington Management Group LLP now owns 5,485,754 shares of the company's stock worth $204,948,000 after acquiring an additional 968,391 shares during the period. Driehaus Capital Management LLC raised its stake in shares of Apogee Therapeutics by 2.8% in the fourth quarter. Driehaus Capital Management LLC now owns 2,605,310 shares of the company's stock worth $118,021,000 after acquiring an additional 71,703 shares during the last quarter. Paradigm Biocapital Advisors LP grew its stake in shares of Apogee Therapeutics by 82.9% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 1,283,766 shares of the company's stock valued at $58,155,000 after purchasing an additional 581,949 shares during the last quarter. Affinity Asset Advisors LLC increased its holdings in shares of Apogee Therapeutics by 23.6% in the first quarter. Affinity Asset Advisors LLC now owns 1,151,199 shares of the company's stock valued at $43,009,000 after purchasing an additional 219,471 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Apogee Therapeutics by 141.7% during the 4th quarter. Janus Henderson Group PLC now owns 1,135,100 shares of the company's stock worth $51,455,000 after buying an additional 665,543 shares in the last quarter. 79.04% of the stock is owned by institutional investors.

Insider Activity at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 2,725 shares of the firm's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $37.87, for a total value of $103,195.75. Following the completion of the transaction, the insider owned 233,548 shares of the company's stock, valued at approximately $8,844,462.76. This trade represents a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 15,540 shares of company stock valued at $661,104 over the last 90 days. Insiders own 42.77% of the company's stock.

Apogee Therapeutics Trading Up 2.0%

Shares of APGE stock traded up $0.74 on Friday, hitting $37.87. The stock had a trading volume of 498,293 shares, compared to its average volume of 419,769. The firm has a market cap of $1.75 billion, a P/E ratio of -9.17 and a beta of 1.42. The company has a fifty day moving average price of $38.54 and a two-hundred day moving average price of $37.78. Apogee Therapeutics Inc. has a twelve month low of $26.20 and a twelve month high of $63.50.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.03) by ($0.10). On average, analysts expect that Apogee Therapeutics Inc. will post -3.09 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on APGE. Guggenheim restated a "buy" rating and set a $116.00 target price on shares of Apogee Therapeutics in a research report on Wednesday, July 2nd. Bank of America raised their target price on shares of Apogee Therapeutics from $78.00 to $87.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Zacks Research downgraded shares of Apogee Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 14th. Citigroup reaffirmed a "buy" rating on shares of Apogee Therapeutics in a research note on Thursday, August 28th. Finally, Wedbush reissued an "outperform" rating and issued a $90.00 price target on shares of Apogee Therapeutics in a research note on Monday, August 11th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Apogee Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $97.29.

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.