Alliancebernstein L.P. Decreases Holdings in Apogee Therapeutics Inc. $APGE

Alliancebernstein L.P. lessened its stake in Apogee Therapeutics Inc. (NASDAQ:APGE - Free Report) by 5.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,280,950 shares of the company's stock after selling 74,235 shares during the quarter. Alliancebernstein L.P. owned approximately 2.85% of Apogee Therapeutics worth $47,856,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Allostery Investments LP raised its stake in shares of Apogee Therapeutics by 10.0% in the first quarter. Allostery Investments LP now owns 110,000 shares of the company's stock valued at $4,110,000 after buying an additional 10,000 shares during the period. Adage Capital Partners GP L.L.C. raised its position in shares of Apogee Therapeutics by 202.7% in the first quarter. Adage Capital Partners GP L.L.C. now owns 727,000 shares of the company's stock valued at $27,161,000 after purchasing an additional 486,800 shares during the period. ADAR1 Capital Management LLC lifted its stake in shares of Apogee Therapeutics by 154.0% during the 1st quarter. ADAR1 Capital Management LLC now owns 104,853 shares of the company's stock valued at $3,917,000 after buying an additional 63,579 shares in the last quarter. Birchview Capital LP bought a new stake in Apogee Therapeutics during the 1st quarter valued at $299,000. Finally, Affinity Asset Advisors LLC raised its stake in shares of Apogee Therapeutics by 23.6% during the 1st 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 during the period. 79.04% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Apogee Therapeutics

In other 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 transaction of $103,195.75. Following the sale, the insider owned 233,548 shares in the company, valued at approximately $8,844,462.76. This trade represents a 1.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 15,540 shares of company stock worth $661,104. Company insiders own 42.77% of the company's stock.

Apogee Therapeutics Stock Performance

APGE traded up $0.56 on Friday, reaching $37.83. The company had a trading volume of 219,609 shares, compared to its average volume of 719,074. The business has a 50 day simple moving average of $37.98 and a 200 day simple moving average of $37.87. The company has a market cap of $1.74 billion, a price-to-earnings ratio of -9.16 and a beta of 1.42. Apogee Therapeutics Inc. has a 52-week low of $26.20 and a 52-week high of $63.50.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last announced 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). As a group, equities research analysts predict that Apogee Therapeutics Inc. will post -3.09 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Zacks Research lowered Apogee Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 14th. Citigroup reiterated a "buy" rating on shares of Apogee Therapeutics in a research report on Thursday, August 28th. Wedbush reaffirmed an "outperform" rating and set a $90.00 target price on shares of Apogee Therapeutics in a report on Monday, August 11th. Guggenheim reaffirmed a "buy" rating and set a $116.00 target price on shares of Apogee Therapeutics in a report on Wednesday, July 2nd. Finally, BTIG Research upped their target price on shares of Apogee Therapeutics from $100.00 to $115.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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.