Apogee Therapeutics Inc. $APGE Shares Acquired by Allostery Investments LP

Key Points

• Allostery Investments LP increased its stake in Apogee Therapeutics by 10.0% to own 110,000 shares, making it the 6th largest holding in their portfolio.
• Apogee Therapeutics reported a $1.13 loss per share for the last quarter, missing analyst estimates, while analysts forecast an EPS of -3.09 for the current fiscal year.
• Several hedge funds have recently acquired stakes in Apogee Therapeutics, leading to institutional investors now owning 79.04% of the company's stock.

Allostery Investments LP raised its stake in Apogee Therapeutics Inc. (NASDAQ:APGE - Free Report) by 10.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 110,000 shares of the company's stock after purchasing an additional 10,000 shares during the quarter. Apogee Therapeutics makes up about 5.9% of Allostery Investments LP's portfolio, making the stock its 6th biggest holding. Allostery Investments LP owned 0.25% of Apogee Therapeutics worth $4,110,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. GF Fund Management CO. LTD. bought a new position in Apogee Therapeutics in the fourth quarter valued at approximately $43,000. Brooklyn Investment Group bought a new position in Apogee Therapeutics in the first quarter valued at approximately $42,000. AlphaQuest LLC bought a new position in Apogee Therapeutics in the first quarter valued at approximately $43,000. BNP Paribas Financial Markets bought a new position in Apogee Therapeutics in the fourth quarter valued at approximately $219,000. Finally, GAMMA Investing LLC grew its stake in Apogee Therapeutics by 3,560.1% in the first quarter. GAMMA Investing LLC now owns 5,417 shares of the company's stock valued at $202,000 after purchasing an additional 5,269 shares in the last quarter. 79.04% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 2,725 shares of the company's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $37.87, for a total transaction of $103,195.75. Following the completion of the sale, the insider directly owned 233,548 shares in the company, valued at $8,844,462.76. This represents a 1.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 15,540 shares of company stock worth $661,104. 42.77% of the stock is owned by corporate insiders.

Apogee Therapeutics Price Performance

NASDAQ APGE traded up $0.19 on Monday, reaching $38.06. The stock had a trading volume of 217,331 shares, compared to its average volume of 717,492. The firm has a fifty day moving average of $38.54 and a two-hundred day moving average of $37.81. The company has a market cap of $1.75 billion, a P/E ratio of -9.26 and a beta of 1.42. Apogee Therapeutics Inc. has a 1-year low of $26.20 and a 1-year high of $63.50.

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). Research analysts predict that Apogee Therapeutics Inc. will post -3.09 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Bank of America raised their price target on Apogee Therapeutics from $78.00 to $87.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. BTIG Research lifted their target price on Apogee Therapeutics from $100.00 to $115.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Citigroup reiterated a "buy" rating on shares of Apogee Therapeutics in a research note on Thursday, August 28th. Wedbush reiterated an "outperform" rating and set a $90.00 target price on shares of Apogee Therapeutics in a research note on Monday, August 11th. Finally, Zacks Research downgraded Apogee Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 14th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Apogee Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $97.29.

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.