Nuveen LLC Takes Position in Apogee Therapeutics Inc. $APGE

Key Points

• Nuveen LLC has made a significant investment of approximately $4.14 million in Apogee Therapeutics Inc., acquiring 110,855 shares, which represents about 0.25% of the company.
• Apogee Therapeutics reported a quarterly loss with an EPS of ($1.13), missing analysts' expectations of ($1.03), indicating challenges in achieving profitability.
• Analysts have set mixed ratings on APGE, with Zacks Research downgrading it to a "hold" while Wedbush and Guggenheim maintain "buy" ratings with price targets as high as $116.00.

Nuveen LLC bought a new stake in Apogee Therapeutics Inc. (NASDAQ:APGE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 110,855 shares of the company's stock, valued at approximately $4,142,000. Nuveen LLC owned 0.25% of Apogee Therapeutics at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in APGE. Driehaus Capital Management LLC grew its stake in Apogee Therapeutics by 2.8% during the 4th quarter. Driehaus Capital Management LLC now owns 2,605,310 shares of the company's stock valued at $118,021,000 after purchasing an additional 71,703 shares during the last quarter. Paradigm Biocapital Advisors LP lifted its holdings in shares of Apogee Therapeutics by 82.9% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 1,283,766 shares of the company's stock worth $58,155,000 after purchasing an additional 581,949 shares during the period. Janus Henderson Group PLC boosted its position in Apogee Therapeutics by 141.7% in the fourth quarter. Janus Henderson Group PLC now owns 1,135,100 shares of the company's stock valued at $51,455,000 after buying an additional 665,543 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Apogee Therapeutics by 38.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,052,595 shares of the company's stock worth $47,683,000 after buying an additional 294,514 shares during the period. Finally, Woodline Partners LP increased its holdings in 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 buying an additional 39,453 shares during the period. Hedge funds and other institutional investors own 79.04% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on APGE. Bank of America lifted their price objective on shares of Apogee Therapeutics from $78.00 to $87.00 and gave the company a "buy" rating in a research note on Thursday. Guggenheim restated a "buy" rating and set a $116.00 target price on shares of Apogee Therapeutics in a research report on Wednesday, July 2nd. Citigroup reaffirmed a "buy" rating on shares of Apogee Therapeutics in a report on Thursday. BTIG Research lifted their price objective on Apogee Therapeutics from $100.00 to $115.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Finally, Wedbush reissued an "outperform" rating and issued a $90.00 price objective on shares of Apogee Therapeutics in a report on Monday, August 11th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $97.29.

Insiders Place Their Bets

In other Apogee Therapeutics news, insider Carl Dambkowski sold 10,090 shares of Apogee Therapeutics stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $45.09, for a total transaction of $454,958.10. Following the sale, the insider owned 238,998 shares of the company's stock, valued at $10,776,419.82. The trade was a 4.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders sold 15,540 shares of company stock valued at $658,625. Company insiders own 42.77% of the company's stock.

Apogee Therapeutics Price Performance

APGE stock traded down $0.25 during mid-day trading on Monday, reaching $36.37. 516,522 shares of the company's stock were exchanged, compared to its average volume of 482,613. Apogee Therapeutics Inc. has a 12-month low of $26.20 and a 12-month high of $63.50. The stock's 50 day moving average is $38.99 and its 200 day moving average is $37.73. The company has a market cap of $1.68 billion, a price-to-earnings ratio of -8.81 and a beta of 1.42.

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

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.