Apogee Therapeutics Inc. $APGE Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in Apogee Therapeutics by 3.9%, owning 314,478 shares valued at approximately $11.75 million as of their latest filing.
• Despite a recent earnings report showing a loss of ($1.13) per share, analysts maintain a "Moderate Buy" consensus with a target price of $97.29 for the stock.
• Insider activity includes the sale of 2,725 shares by Carl Dambkowski, which decreased his ownership percentage by 1.14%, leaving him with holdings valued at over $8.9 million.

Northern Trust Corp lessened its position in shares of Apogee Therapeutics Inc. (NASDAQ:APGE - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 314,478 shares of the company's stock after selling 12,814 shares during the quarter. Northern Trust Corp owned 0.70% of Apogee Therapeutics worth $11,749,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its stake in shares of Apogee Therapeutics by 141.7% in 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. Paradigm Biocapital Advisors LP increased its stake in Apogee Therapeutics by 82.9% during the 4th 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 in the last quarter. Jefferies Financial Group Inc. increased its stake in Apogee Therapeutics by 140.4% during the 4th quarter. Jefferies Financial Group Inc. now owns 887,497 shares of the company's stock worth $40,204,000 after buying an additional 518,300 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Apogee Therapeutics during the 4th quarter worth approximately $6,521,000. Finally, Nuveen LLC purchased a new stake in Apogee Therapeutics during the 1st quarter worth approximately $4,142,000. Hedge funds and other institutional investors own 79.04% of the company's stock.

Apogee Therapeutics Trading Down 2.5%

Apogee Therapeutics stock traded down $0.97 during mid-day trading on Wednesday, hitting $37.49. The company's stock had a trading volume of 1,034,970 shares, compared to its average volume of 427,425. The firm has a market capitalization of $1.73 billion, a PE ratio of -9.08 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. The stock's fifty day moving average is $38.18 and its two-hundred day moving average is $37.84.

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 for the quarter, missing the consensus estimate of ($1.03) by ($0.10). On average, equities analysts expect that Apogee Therapeutics Inc. will post -3.09 EPS for the current fiscal year.

Insider Buying and Selling

In other Apogee Therapeutics news, insider Carl Dambkowski sold 10,090 shares of the company's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $45.09, for a total transaction of $454,958.10. Following the transaction, the insider directly owned 238,998 shares in the company, valued at $10,776,419.82. This represents a 4.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 15,540 shares of company stock worth $661,104 in the last 90 days. 42.77% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

APGE has been the subject of a number of analyst reports. Guggenheim restated a "buy" rating and issued a $116.00 price target on shares of Apogee Therapeutics in a research report on Wednesday, July 2nd. Bank of America upped their price target on Apogee Therapeutics from $78.00 to $87.00 and gave the company a "buy" rating in a research report on Thursday, August 28th. Wedbush restated an "outperform" rating and issued a $90.00 price target on shares of Apogee Therapeutics in a research report on Monday, August 11th. Citigroup restated a "buy" rating on shares of Apogee Therapeutics in a research report on Thursday, August 28th. Finally, BTIG Research upped their price target on Apogee Therapeutics from $100.00 to $115.00 and gave the company a "buy" rating in a research report 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 stock currently has a consensus rating of "Moderate Buy" and an average target price of $97.29.

Apogee Therapeutics Company 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.