Apogee Therapeutics Inc. $APGE Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its holdings in Apogee Therapeutics Inc. by 0.7%, owning approximately 4.64% of the company after selling 14,991 shares, valued at about $77.8 million.
• Despite the decrease in holdings by Vanguard, other institutional investors are increasing their stakes in Apogee, with some raising their holdings by over 3,500% during the same quarter.
• Apogee Therapeutics reported an earnings miss with a loss of ($1.13) per share, missing analysts' expectations, and has a consensus rating of "Moderate Buy" with an average target price set at $99.00.

Vanguard Group Inc. cut its stake in shares of Apogee Therapeutics Inc. (NASDAQ:APGE - Free Report) by 0.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,082,606 shares of the company's stock after selling 14,991 shares during the quarter. Vanguard Group Inc. owned approximately 4.64% of Apogee Therapeutics worth $77,806,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in APGE. JPMorgan Chase & Co. lifted its holdings in shares of Apogee Therapeutics by 26.1% during the fourth quarter. JPMorgan Chase & Co. now owns 37,255 shares of the company's stock valued at $1,688,000 after acquiring an additional 7,700 shares during the period. Legal & General Group Plc lifted its holdings in shares of Apogee Therapeutics by 15.7% during the fourth quarter. Legal & General Group Plc now owns 25,873 shares of the company's stock valued at $1,172,000 after acquiring an additional 3,520 shares during the period. Marshall Wace LLP increased its stake in shares of Apogee Therapeutics by 1,963.9% in the fourth quarter. Marshall Wace LLP now owns 75,849 shares of the company's stock valued at $3,436,000 after buying an additional 72,174 shares in the last quarter. MetLife Investment Management LLC increased its stake in shares of Apogee Therapeutics by 8.7% in the fourth quarter. MetLife Investment Management LLC now owns 22,960 shares of the company's stock valued at $1,040,000 after buying an additional 1,845 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Apogee Therapeutics by 356.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,287 shares of the company's stock valued at $285,000 after buying an additional 4,910 shares in the last quarter. 79.04% of the stock is owned by institutional investors.

Insider Activity at Apogee Therapeutics

In other news, insider Carl Dambkowski sold 10,090 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $45.09, for a total value of $454,958.10. Following the transaction, the insider owned 238,998 shares of the company's stock, valued at approximately $10,776,419.82. This trade represents a 4.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders have sold 15,540 shares of company stock valued at $658,625. Company insiders own 42.77% of the company's stock.

Apogee Therapeutics Price Performance

NASDAQ:APGE traded down $1.27 during trading hours on Thursday, reaching $36.53. 193,064 shares of the company were exchanged, compared to its average volume of 728,213. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of -8.84 and a beta of 1.43. Apogee Therapeutics Inc. has a 52-week low of $26.20 and a 52-week high of $63.50. The stock has a 50 day simple moving average of $39.29 and a 200 day simple moving average of $37.71.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last posted its quarterly 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). On average, analysts predict that Apogee Therapeutics Inc. will post -3.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on APGE shares. 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 report on Monday, July 7th. Bank of America boosted their target price on Apogee Therapeutics from $78.00 to $87.00 and gave the company a "buy" rating in a research note on Thursday. Citigroup restated a "buy" rating on shares of Apogee Therapeutics in a research note on Thursday. Wedbush reaffirmed an "outperform" rating and set a $90.00 price target on shares of Apogee Therapeutics in a research report on Monday, August 11th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $116.00 price objective on shares of Apogee Therapeutics in a report on Wednesday, July 2nd. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Apogee Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price 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.