D. E. Shaw & Co. Inc. Reduces Stock Position in Apogee Therapeutics, Inc. (NASDAQ:APGE)

D. E. Shaw & Co. Inc. decreased its holdings in Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report) by 80.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,813 shares of the company's stock after selling 39,849 shares during the quarter. D. E. Shaw & Co. Inc.'s holdings in Apogee Therapeutics were worth $445,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Optimize Financial Inc acquired a new position in shares of Apogee Therapeutics in the 4th quarter worth approximately $203,000. Aigen Investment Management LP bought a new stake in shares of Apogee Therapeutics in the 4th quarter valued at $216,000. BNP Paribas Financial Markets bought a new stake in shares of Apogee Therapeutics in the 4th quarter valued at $219,000. Commonwealth Equity Services LLC bought a new stake in shares of Apogee Therapeutics in the 4th quarter valued at $222,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Apogee Therapeutics in the 4th quarter valued at $226,000. 79.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on APGE shares. Guggenheim restated a "buy" rating on shares of Apogee Therapeutics in a research note on Monday, February 10th. Wedbush restated an "outperform" rating and set a $90.00 price target on shares of Apogee Therapeutics in a research note on Tuesday, March 11th. Finally, Citigroup began coverage on shares of Apogee Therapeutics in a report on Thursday, March 13th. They set a "buy" rating and a $95.00 price objective on the stock. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $94.60.

Apogee Therapeutics Stock Performance

NASDAQ APGE traded down $0.77 during trading on Friday, hitting $36.92. 534,306 shares of the company's stock traded hands, compared to its average volume of 527,849. The business has a 50 day moving average of $36.46 and a 200-day moving average of $39.83. Apogee Therapeutics, Inc. has a 12-month low of $26.20 and a 12-month high of $63.50. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of -15.26 and a beta of 1.70.

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

Insiders Place Their Bets

In related news, CEO Michael Thomas Henderson sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $30.15, for a total value of $301,500.00. Following the transaction, the chief executive officer now directly owns 1,292,987 shares of the company's stock, valued at approximately $38,983,558.05. The trade was a 0.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Carl Dambkowski sold 1,590 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $30.48, for a total value of $48,463.20. Following the completion of the transaction, the insider now directly owns 251,033 shares in the company, valued at approximately $7,651,485.84. This represents a 0.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,175 shares of company stock worth $587,191. 42.77% of the stock is owned by corporate insiders.

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.