Apogee Therapeutics Inc. $APGE Stake Reduced by Parkman Healthcare Partners LLC

Key Points

• Parkman Healthcare Partners LLC reduced its stake in Apogee Therapeutics Inc. by 45.1%, now holding around 0.10% of the company, valued at approximately $1.74 million.
• Multiple institutional investors, including Wellington Management and Janus Henderson Group, have increased their holdings in Apogee Therapeutics, demonstrating heightened interest; currently, 79.04% of the stock is owned by institutional investors.
• Apogee Therapeutics recently reported a loss of ($1.13) earnings per share, which is lower than analysts' expectations, and is anticipated to post ($3.09) EPS for the current fiscal year.

Parkman Healthcare Partners LLC cut its holdings in Apogee Therapeutics Inc. (NASDAQ:APGE - Free Report) by 45.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,663 shares of the company's stock after selling 38,337 shares during the quarter. Parkman Healthcare Partners LLC owned about 0.10% of Apogee Therapeutics worth $1,743,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of APGE. Wellington Management Group LLP raised its position in Apogee Therapeutics by 21.4% in the first quarter. Wellington Management Group LLP now owns 5,485,754 shares of the company's stock worth $204,948,000 after acquiring an additional 968,391 shares in the last quarter. Janus Henderson Group PLC increased its stake in Apogee Therapeutics by 141.7% in the 4th quarter. Janus Henderson Group PLC now owns 1,135,100 shares of the company's stock worth $51,455,000 after purchasing an additional 665,543 shares in the last quarter. Paradigm Biocapital Advisors LP increased its stake in Apogee Therapeutics by 82.9% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 1,283,766 shares of the company's stock worth $58,155,000 after purchasing an additional 581,949 shares in the last quarter. Jefferies Financial Group Inc. increased its stake in Apogee Therapeutics by 140.4% in the 4th quarter. Jefferies Financial Group Inc. now owns 887,497 shares of the company's stock worth $40,204,000 after purchasing an additional 518,300 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its stake in Apogee Therapeutics by 202.7% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 727,000 shares of the company's stock worth $27,161,000 after purchasing an additional 486,800 shares in the last quarter. 79.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on APGE shares. BTIG Research lifted their price target on Apogee Therapeutics from $100.00 to $115.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Zacks Research cut Apogee Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 14th. Bank of America lifted 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, August 28th. Citigroup reissued a "buy" rating on shares of Apogee Therapeutics in a research note on Thursday, August 28th. Finally, Guggenheim restated a "buy" rating and issued a $116.00 target price on shares of Apogee Therapeutics in a report on Wednesday, July 2nd. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $97.29.

Apogee Therapeutics Trading Up 2.0%

Shares of APGE stock opened at $37.87 on Friday. Apogee Therapeutics Inc. has a 1 year low of $26.20 and a 1 year high of $63.50. The firm's fifty day simple moving average is $38.54 and its 200 day simple moving average is $37.76. The firm has a market capitalization of $1.75 billion, a P/E ratio of -9.17 and a beta of 1.42.

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

Insider Transactions at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 10,090 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $45.09, for a total transaction 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. The trade was a 4.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 15,540 shares of company stock worth $661,104 over the last 90 days. Insiders own 42.77% of the company's stock.

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.

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