Jefferies Financial Group Inc. Has $15.76 Million Stake in Apogee Therapeutics Inc. (NASDAQ:APGE)

Key Points

• Jefferies Financial Group Inc. has reduced its ownership in Apogee Therapeutics Inc. by 52.5%, selling 465,701 shares and now holding 421,796 shares valued at approximately $15.76 million.
• Several institutional investors, including XTX Topco Ltd and Bank of New York Mellon Corp, have increased their stakes in Apogee Therapeutics, highlighting significant activity among hedge funds.
• Apogee Therapeutics has received positive analyst ratings, with a consensus rating of "Buy" and an average target price of $99.00, reflecting optimism about the company's future performance.

Jefferies Financial Group Inc. decreased its stake in Apogee Therapeutics Inc. (NASDAQ:APGE - Free Report) by 52.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 421,796 shares of the company's stock after selling 465,701 shares during the period. Jefferies Financial Group Inc. owned approximately 0.94% of Apogee Therapeutics worth $15,758,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of APGE. XTX Topco Ltd grew its position in shares of Apogee Therapeutics by 170.8% during the 1st quarter. XTX Topco Ltd now owns 17,188 shares of the company's stock worth $642,000 after buying an additional 10,840 shares during the period. Victory Capital Management Inc. raised its position in shares of Apogee Therapeutics by 4.4% during the first quarter. Victory Capital Management Inc. now owns 232,983 shares of the company's stock worth $8,704,000 after acquiring an additional 9,921 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Apogee Therapeutics by 93.3% in the first quarter. Bank of New York Mellon Corp now owns 214,231 shares of the company's stock worth $8,004,000 after purchasing an additional 103,404 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Apogee Therapeutics by 3.2% during the first quarter. Rhumbline Advisers now owns 54,385 shares of the company's stock valued at $2,032,000 after acquiring an additional 1,665 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Apogee Therapeutics by 3,560.1% in the first quarter. GAMMA Investing LLC now owns 5,417 shares of the company's stock worth $202,000 after purchasing an additional 5,269 shares during the last quarter. 79.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

APGE has been the topic of several recent research reports. Wedbush restated an "outperform" rating and set a $90.00 price target on shares of Apogee Therapeutics in a research report on Monday, July 7th. BTIG Research boosted their price target on Apogee Therapeutics from $100.00 to $115.00 and gave the company a "buy" rating in a report on Monday, July 7th. Citigroup reaffirmed a "buy" rating on shares of Apogee Therapeutics in a research note on Monday, July 7th. Finally, Guggenheim reiterated a "buy" rating and issued a $116.00 price target on shares of Apogee Therapeutics in a report on Wednesday, July 2nd. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Apogee Therapeutics presently has a consensus rating of "Buy" and a consensus price target of $99.00.

Insider Buying and Selling at Apogee Therapeutics

In other news, insider Carl Dambkowski sold 10,090 shares of the company'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 value of $454,958.10. Following the completion of the sale, the insider directly owned 238,998 shares of the company's stock, valued at approximately $10,776,419.82. This represents a 4.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 15,540 shares of company stock worth $653,093. 42.77% of the stock is owned by corporate insiders.

Apogee Therapeutics Stock Up 3.5%

NASDAQ APGE traded up $1.31 on Tuesday, reaching $38.55. The stock had a trading volume of 319,221 shares, compared to its average volume of 757,410. The stock has a fifty day moving average price of $40.21 and a two-hundred day moving average price of $38.08. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of -10.69 and a beta of 1.43. Apogee Therapeutics Inc. has a 12-month low of $26.20 and a 12-month high of $63.50.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last issued its quarterly earnings data 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. Sell-side analysts forecast that Apogee Therapeutics Inc. will post -3.09 earnings per share for the current fiscal year.

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.