Bank of America Corp DE Sells 193,932 Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE)

Bank of America Corp DE trimmed its position in Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report) by 64.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 105,540 shares of the company's stock after selling 193,932 shares during the period. Bank of America Corp DE owned about 0.23% of Apogee Therapeutics worth $4,781,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new position in shares of Apogee Therapeutics in the fourth quarter valued at approximately $219,000. Barclays PLC boosted its position in Apogee Therapeutics by 369.2% in the third quarter. Barclays PLC now owns 365,046 shares of the company's stock worth $21,443,000 after purchasing an additional 287,243 shares during the last quarter. SG Americas Securities LLC grew its stake in Apogee Therapeutics by 22.2% in the 4th quarter. SG Americas Securities LLC now owns 9,890 shares of the company's stock valued at $448,000 after purchasing an additional 1,796 shares during the period. Swiss National Bank grew its stake in Apogee Therapeutics by 17.5% in the 4th quarter. Swiss National Bank now owns 44,300 shares of the company's stock valued at $2,007,000 after purchasing an additional 6,600 shares during the period. Finally, Northern Trust Corp increased its position in shares of Apogee Therapeutics by 6.8% during the 4th quarter. Northern Trust Corp now owns 327,292 shares of the company's stock valued at $14,826,000 after purchasing an additional 20,743 shares during the last quarter. Hedge funds and other institutional investors own 79.04% of the company's stock.

Apogee Therapeutics Stock Down 2.0%

APGE traded down $0.77 during trading hours on Friday, hitting $36.92. The stock had a trading volume of 534,306 shares, compared to its average volume of 527,849. Apogee Therapeutics, Inc. has a 1 year low of $26.20 and a 1 year high of $63.50. The company's fifty day simple moving average is $36.46 and its 200 day simple moving average is $39.83. The stock has a market cap of $1.70 billion, a PE ratio of -15.26 and a beta of 1.70.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.95) earnings per share for the quarter, topping analysts' consensus estimates of ($1.19) by $0.24. As a group, equities analysts expect that Apogee Therapeutics, Inc. will post -3.09 EPS for the current year.

Insider Activity at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 1,590 shares of Apogee Therapeutics stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $30.48, for a total transaction of $48,463.20. Following the completion of the transaction, the insider now owns 251,033 shares of the company's stock, valued at $7,651,485.84. The trade was a 0.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Thomas Henderson sold 10,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $30.15, for a total transaction of $301,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,292,987 shares in the company, valued at approximately $38,983,558.05. The trade was a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,175 shares of company stock worth $587,191. 42.77% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wedbush reissued an "outperform" rating and issued a $90.00 price target on shares of Apogee Therapeutics in a report on Tuesday, March 11th. Guggenheim reiterated a "buy" rating on shares of Apogee Therapeutics in a research note on Monday, February 10th. Finally, Citigroup started coverage on shares of Apogee Therapeutics in a research note on Thursday, March 13th. They set a "buy" rating and a $95.00 price target for the company. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $94.60.

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.