Apogee Therapeutics Inc. $APGE Shares Sold by Driehaus Capital Management LLC

Key Points

• Driehaus Capital Management has reduced its position in Apogee Therapeutics Inc. by 10.2%, now holding approximately 2.34 million shares valued at about $87.4 million.
• Apogee Therapeutics reported an EPS of ($1.13) for the last quarter, which was below analysts' estimates of ($1.03).
• Analysts' ratings for Apogee Therapeutics are generally positive, with several recommending a "buy" and an average target price of $97.29.

Driehaus Capital Management LLC reduced its stake in Apogee Therapeutics Inc. (NASDAQ:APGE - Free Report) by 10.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,339,563 shares of the company's stock after selling 265,747 shares during the period. Apogee Therapeutics makes up approximately 0.8% of Driehaus Capital Management LLC's portfolio, making the stock its 21st biggest position. Driehaus Capital Management LLC owned about 5.21% of Apogee Therapeutics worth $87,406,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of APGE. Brooklyn Investment Group purchased a new stake in Apogee Therapeutics in the 1st quarter valued at about $42,000. GF Fund Management CO. LTD. purchased a new stake in Apogee Therapeutics in the 4th quarter valued at about $43,000. AlphaQuest LLC purchased a new stake in Apogee Therapeutics in the 1st quarter valued at about $43,000. GAMMA Investing LLC raised its holdings in Apogee Therapeutics by 3,560.1% in the 1st quarter. GAMMA Investing LLC now owns 5,417 shares of the company's stock valued at $202,000 after buying an additional 5,269 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in Apogee Therapeutics in the 4th quarter valued at about $219,000. 79.04% of the stock is currently owned by hedge funds and other institutional investors.

Apogee Therapeutics Price Performance

Shares of APGE stock traded up $0.13 during trading hours on Wednesday, reaching $37.99. 147,091 shares of the stock were exchanged, compared to its average volume of 722,466. The business's fifty day moving average is $38.88 and its two-hundred day moving average is $37.73. Apogee Therapeutics Inc. has a 12-month low of $26.20 and a 12-month high of $63.50. The firm has a market capitalization of $1.75 billion, a P/E ratio of -9.20 and a beta of 1.42.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last released its earnings results 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). As a group, equities research analysts predict that Apogee Therapeutics Inc. will post -3.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Citigroup restated a "buy" rating on shares of Apogee Therapeutics in a report on Thursday, August 28th. Bank of America boosted their price target 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. Wedbush reiterated an "outperform" rating and set a $90.00 price target on shares of Apogee Therapeutics in a research note on Monday, August 11th. BTIG Research boosted their price target on shares of Apogee Therapeutics from $100.00 to $115.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Finally, Guggenheim reiterated a "buy" rating and set a $116.00 price target on shares of Apogee Therapeutics in a research note on Wednesday, July 2nd. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Apogee Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $97.29.

Insider Buying and Selling at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 2,725 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $37.78, for a total transaction of $102,950.50. Following the sale, the insider directly owned 236,273 shares in the company, valued at approximately $8,926,393.94. This represents a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 42.77% of the company's stock.

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.