Neo Ivy Capital Management Acquires Shares of 38,523 Apogee Therapeutics, Inc. (NASDAQ:APGE)

Neo Ivy Capital Management bought a new position in Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 38,523 shares of the company's stock, valued at approximately $1,745,000. Neo Ivy Capital Management owned 0.09% of Apogee Therapeutics at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Woodline Partners LP raised its position in shares of Apogee Therapeutics by 4.0% in the 4th quarter. Woodline Partners LP now owns 1,015,608 shares of the company's stock worth $46,007,000 after acquiring an additional 39,453 shares in the last quarter. Soleus Capital Management L.P. acquired a new stake in shares of Apogee Therapeutics in the fourth quarter valued at approximately $3,171,000. Squarepoint Ops LLC increased its stake in Apogee Therapeutics by 90.9% during the fourth quarter. Squarepoint Ops LLC now owns 36,344 shares of the company's stock worth $1,646,000 after acquiring an additional 17,301 shares during the last quarter. Two Sigma Advisers LP increased its stake in Apogee Therapeutics by 51.5% during the fourth quarter. Two Sigma Advisers LP now owns 71,500 shares of the company's stock worth $3,239,000 after acquiring an additional 24,300 shares during the last quarter. Finally, Two Sigma Investments LP boosted its position in shares of Apogee Therapeutics by 33.7% during the fourth quarter. Two Sigma Investments LP now owns 266,482 shares of the company's stock worth $12,072,000 after buying an additional 67,174 shares during the period. 79.04% of the stock is currently owned by hedge funds and other institutional investors.

Apogee Therapeutics Stock Performance

Shares of NASDAQ:APGE traded up $0.97 during trading on Thursday, hitting $37.37. The company's stock had a trading volume of 121,029 shares, compared to its average volume of 525,313. Apogee Therapeutics, Inc. has a fifty-two week low of $26.20 and a fifty-two week high of $63.50. The stock's 50-day moving average price is $36.59 and its two-hundred day moving average price is $40.22. The company has a market capitalization of $1.72 billion, a PE ratio of -15.44 and a beta of 1.70.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last announced its quarterly earnings results 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. On average, equities analysts predict that Apogee Therapeutics, Inc. will post -3.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Carl Dambkowski sold 2,725 shares of the firm's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $35.75, for a total transaction of $97,418.75. Following the completion of the sale, the insider now directly owns 244,448 shares of the company's stock, valued at $8,739,016. This trade represents a 1.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael Thomas Henderson sold 10,000 shares of the firm's stock in a transaction 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 approximately $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. Insiders sold 18,175 shares of company stock valued at $587,191 in the last three months. 42.77% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.