Point72 Asset Management L.P. Sells 404,533 Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE)

Point72 Asset Management L.P. lessened its holdings in shares of Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report) by 57.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 302,735 shares of the company's stock after selling 404,533 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.67% of Apogee Therapeutics worth $13,714,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV bought a new position in shares of Apogee Therapeutics during the 4th quarter worth approximately $32,621,000. Janus Henderson Group PLC lifted its holdings in Apogee Therapeutics by 141.7% during the 4th quarter. Janus Henderson Group PLC now owns 1,135,100 shares of the company's stock valued at $51,455,000 after purchasing an additional 665,543 shares during the last quarter. Paradigm Biocapital Advisors LP boosted its position in 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. Jefferies Financial Group Inc. increased its holdings in shares of Apogee Therapeutics by 140.4% in the fourth quarter. Jefferies Financial Group Inc. now owns 887,497 shares of the company's stock valued at $40,204,000 after purchasing an additional 518,300 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Apogee Therapeutics by 38.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,052,595 shares of the company's stock valued at $47,683,000 after purchasing an additional 294,514 shares during the last quarter. Institutional investors own 79.04% of the company's stock.

Apogee Therapeutics Stock Down 2.3%

Shares of Apogee Therapeutics stock traded down $0.94 during trading on Friday, reaching $39.43. The company's stock had a trading volume of 62,086 shares, compared to its average volume of 639,658. The business's 50-day moving average price is $36.73 and its 200-day moving average price is $40.79. Apogee Therapeutics, Inc. has a 52 week low of $26.20 and a 52 week high of $63.50. The firm has a market cap of $1.82 billion, a PE ratio of -16.29 and a beta of 1.70.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.19) by $0.24. Equities analysts predict that Apogee Therapeutics, Inc. will post -3.09 earnings per share for the current year.

Insider Activity at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 1,590 shares of Apogee Therapeutics stock in a transaction 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 transaction, the insider now directly owns 251,033 shares of the company's stock, valued at $7,651,485.84. The trade was a 0.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Thomas Henderson sold 10,000 shares of the 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 in the company, valued at approximately $38,983,558.05. This trade represents a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,175 shares of company stock worth $587,191. Company insiders own 42.77% of the company's stock.

Wall Street Analyst Weigh In

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

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.