Apogee Therapeutics, Inc. (NASDAQ:APGE) Shares Purchased by Millennium Management LLC

Millennium Management LLC lifted its holdings in Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report) by 44.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 130,171 shares of the company's stock after purchasing an additional 40,162 shares during the period. Millennium Management LLC owned 0.29% of Apogee Therapeutics worth $5,897,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of APGE. 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 during the fourth quarter worth $216,000. BNP Paribas Financial Markets acquired a new stake in shares of Apogee Therapeutics in the fourth quarter valued at approximately $219,000. Commonwealth Equity Services LLC acquired a new position in shares of Apogee Therapeutics during the 4th quarter worth about $222,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Apogee Therapeutics during the 4th quarter worth approximately $226,000. 79.04% of the stock is currently owned by institutional investors and hedge funds.

Apogee Therapeutics Trading Down 2.0%

Shares of APGE stock traded down $0.77 during trading on Friday, reaching $36.92. 534,306 shares of the company's stock traded hands, compared to its average volume of 526,784. The firm's 50-day moving average is $36.52 and its 200 day moving average is $40.06. Apogee Therapeutics, Inc. has a 1 year low of $26.20 and a 1 year high of $63.50. The company has a market capitalization of $1.70 billion, a P/E ratio of -15.26 and a beta of 1.70.

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

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, insider Carl Dambkowski sold 1,590 shares of the firm'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 sale, the insider now directly owns 251,033 shares of the company's stock, valued at $7,651,485.84. This trade represents a 0.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Thomas Henderson sold 10,000 shares of the firm'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 sale, the chief executive officer now directly owns 1,292,987 shares of the company's stock, valued at $38,983,558.05. This represents a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,175 shares of company stock valued at $587,191. 42.77% of the stock is owned by insiders.

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.