Parkman Healthcare Partners LLC Reduces Holdings in Apogee Therapeutics Inc. $APGE

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 trimmed its stake in Apogee Therapeutics Inc. (NASDAQ:APGE - Free Report) by 45.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,663 shares of the company's stock after selling 38,337 shares during the period. Parkman Healthcare Partners LLC owned approximately 0.10% of Apogee Therapeutics worth $1,743,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of APGE. Millennium Management LLC raised its holdings in Apogee Therapeutics by 100.0% during the 1st quarter. Millennium Management LLC now owns 260,335 shares of the company's stock valued at $9,726,000 after buying an additional 130,164 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Apogee Therapeutics by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,529 shares of the company's stock valued at $921,000 after acquiring an additional 694 shares during the period. Granahan Investment Management LLC raised its stake in shares of Apogee Therapeutics by 16.7% in the first quarter. Granahan Investment Management LLC now owns 108,340 shares of the company's stock valued at $4,048,000 after acquiring an additional 15,486 shares during the period. Allostery Investments LP lifted its holdings in shares of Apogee Therapeutics by 10.0% in the 1st quarter. Allostery Investments LP now owns 110,000 shares of the company's stock worth $4,110,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its stake in shares of Apogee Therapeutics by 202.7% during 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 during the period. Institutional investors own 79.04% of the company's stock.

Apogee Therapeutics Stock Down 0.7%

APGE stock traded down $0.28 during trading on Thursday, hitting $37.21. 724,793 shares of the company's stock traded hands, compared to its average volume of 722,029. The firm has a market capitalization of $1.72 billion, a P/E ratio of -9.01 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 business has a fifty day simple moving average of $38.18 and a two-hundred day simple moving average of $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 analysts' consensus estimates of ($1.03) by ($0.10). On average, equities research 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 weighed in on the stock. Bank of America increased their price objective on shares of Apogee Therapeutics from $78.00 to $87.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. BTIG Research raised 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. Citigroup restated a "buy" rating on shares of Apogee Therapeutics in a report on Thursday, August 28th. Wedbush reiterated an "outperform" rating and issued a $90.00 target price on shares of Apogee Therapeutics in a research note on Monday, August 11th. Finally, Guggenheim reissued a "buy" rating and issued a $116.00 price objective on shares of Apogee Therapeutics in a research report on Wednesday, July 2nd. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Apogee Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $97.29.

Insiders Place Their Bets

In other Apogee Therapeutics news, insider Carl Dambkowski sold 2,725 shares of Apogee Therapeutics stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $37.87, for a total value of $103,195.75. Following the transaction, the insider directly owned 233,548 shares of the company's stock, valued at approximately $8,844,462.76. The trade was a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 15,540 shares of company stock valued at $661,104 in the last three months. 42.77% of the stock is owned by company insiders.

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.