Affinity Asset Advisors LLC Buys 219,471 Shares of Apogee Therapeutics Inc. $APGE

Key Points

• Affinity Asset Advisors LLC has increased its stake in Apogee Therapeutics Inc. by 23.6%, owning approximately $43.01 million worth of shares, which represents about 4.1% of their total holdings.
• Apogee Therapeutics recently reported earnings of ($1.13) per share, missing analysts' expectations, and is projected to have earnings of ($3.09) per share for the current year.
• A number of institutional investors have adjusted their positions in Apogee, with 79.04% of the company's stock now owned by institutional investors and hedge funds.

Affinity Asset Advisors LLC boosted its holdings in shares of Apogee Therapeutics Inc. (NASDAQ:APGE - Free Report) by 23.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,151,199 shares of the company's stock after buying an additional 219,471 shares during the quarter. Apogee Therapeutics comprises 4.1% of Affinity Asset Advisors LLC's portfolio, making the stock its 2nd biggest holding. Affinity Asset Advisors LLC owned 2.56% of Apogee Therapeutics worth $43,009,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Wellington Management Group LLP increased its position in Apogee Therapeutics by 21.4% during the first quarter. Wellington Management Group LLP now owns 5,485,754 shares of the company's stock worth $204,948,000 after buying an additional 968,391 shares during the last quarter. Driehaus Capital Management LLC increased its position in Apogee Therapeutics by 2.8% during the fourth quarter. Driehaus Capital Management LLC now owns 2,605,310 shares of the company's stock worth $118,021,000 after buying an additional 71,703 shares during the last quarter. Paradigm Biocapital Advisors LP increased its position in Apogee Therapeutics by 82.9% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 1,283,766 shares of the company's stock worth $58,155,000 after buying an additional 581,949 shares during the last quarter. Janus Henderson Group PLC increased its position in Apogee Therapeutics by 141.7% during the fourth 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 during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Apogee Therapeutics by 38.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,052,595 shares of the company's stock worth $47,683,000 after buying an additional 294,514 shares during the last quarter. 79.04% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Carl Dambkowski sold 2,725 shares of Apogee Therapeutics stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $37.78, for a total transaction of $102,950.50. Following the sale, the insider directly owned 236,273 shares of the company's stock, valued at $8,926,393.94. This trade represents a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 15,540 shares of company stock worth $658,625 over the last 90 days. 42.77% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on APGE. Citigroup reissued a "buy" rating on shares of Apogee Therapeutics in a research report on Thursday. Bank of America increased their target price on shares of Apogee Therapeutics from $78.00 to $87.00 and gave the stock a "buy" rating in a research report on Thursday. Zacks Research lowered Apogee Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 14th. Wedbush reiterated an "outperform" rating and issued a $90.00 price objective on shares of Apogee Therapeutics in a research note on Monday, August 11th. Finally, BTIG Research lifted their price objective on Apogee Therapeutics from $100.00 to $115.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $97.29.

Apogee Therapeutics Trading Down 3.1%

APGE stock traded down $1.17 during trading on Thursday, reaching $36.62. 389,711 shares of the stock were exchanged, compared to its average volume of 498,089. Apogee Therapeutics Inc. has a twelve month low of $26.20 and a twelve month high of $63.50. The company has a market capitalization of $1.69 billion, a P/E ratio of -8.87 and a beta of 1.43. The stock has a 50 day simple moving average of $39.20 and a 200-day simple moving average of $37.69.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last released its earnings results on Monday, August 11th. The company reported ($1.13) earnings per share for the quarter, missing analysts' consensus estimates of ($1.03) by ($0.10). Equities analysts predict that Apogee Therapeutics Inc. will post -3.09 EPS for the current year.

About Apogee Therapeutics

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.