Birchview Capital LP Purchases New Shares in Apogee Therapeutics Inc. $APGE

Key Points

• Birchview Capital LP acquired 8,000 shares of Apogee Therapeutics Inc. valued at approximately $299,000, indicating strong institutional interest in the company.
• Several hedge funds, including Affinity Asset Advisors and Wellington Management Group, significantly increased their holdings in Apogee Therapeutics during the first quarter.
• Apogee Therapeutics reported a loss of ($1.13) EPS in its latest earnings, missing analysts' estimates, while analysts maintain a consensus rating of "Moderate Buy" with an average target price of $97.29.

Birchview Capital LP bought a new position in shares of Apogee Therapeutics Inc. (NASDAQ:APGE - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 8,000 shares of the company's stock, valued at approximately $299,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its holdings in Apogee Therapeutics by 21.4% during the 1st 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. Driehaus Capital Management LLC boosted its holdings in shares of Apogee Therapeutics by 2.8% in the 4th quarter. Driehaus Capital Management LLC now owns 2,605,310 shares of the company's stock valued at $118,021,000 after buying an additional 71,703 shares in the last quarter. Paradigm Biocapital Advisors LP boosted its holdings in shares of Apogee Therapeutics by 82.9% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 1,283,766 shares of the company's stock valued at $58,155,000 after buying an additional 581,949 shares in the last quarter. Affinity Asset Advisors LLC boosted its holdings in shares of Apogee Therapeutics by 23.6% in the 1st quarter. Affinity Asset Advisors LLC now owns 1,151,199 shares of the company's stock valued at $43,009,000 after buying an additional 219,471 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Apogee Therapeutics by 141.7% in the 4th quarter. Janus Henderson Group PLC now owns 1,135,100 shares of the company's stock valued at $51,455,000 after buying an additional 665,543 shares in the last quarter. 79.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. BTIG Research raised their price target on shares of Apogee Therapeutics from $100.00 to $115.00 and gave the company a "buy" rating in a report on Monday, July 7th. Bank of America lifted their target price on shares of Apogee Therapeutics from $78.00 to $87.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. Guggenheim reiterated a "buy" rating and issued a $116.00 target price on shares of Apogee Therapeutics in a research note on Wednesday, July 2nd. 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, Citigroup reiterated a "buy" rating on shares of Apogee Therapeutics in a research note on Thursday, August 28th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Apogee Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $97.29.

Apogee Therapeutics Price Performance

APGE traded up $0.74 during trading on Friday, reaching $37.87. 498,293 shares of the company's stock were exchanged, compared to its average volume of 419,769. Apogee Therapeutics Inc. has a 1 year low of $26.20 and a 1 year high of $63.50. The stock has a market capitalization of $1.75 billion, a P/E ratio of -9.17 and a beta of 1.42. The company's fifty day simple moving average is $38.54 and its 200-day simple moving average is $37.76.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($1.03) by ($0.10). Equities analysts forecast that Apogee Therapeutics Inc. will post -3.09 EPS for the current year.

Insider Transactions at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 10,090 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have sold 15,540 shares of company stock worth $661,104. Company insiders own 42.77% of the company's stock.

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.