Siren L.L.C. Sells 152,331 Shares of Apogee Therapeutics Inc. $APGE

Key Points

• Siren L.L.C. has reduced its holdings in Apogee Therapeutics by 20.4%, selling 152,331 shares and now owning 594,994 shares, accounting for 1.3% of its portfolio.
• Apogee Therapeutics' stock is currently down 2.5%, trading at $37.49, with a recent earnings miss of ($1.13) EPS against an expected ($1.03).
• Research analysts have mixed views on Apogee Therapeutics, with seven analysts rating it as a Buy and one a Hold, while the average target price is $97.29.

Siren L.L.C. cut its position in shares of Apogee Therapeutics Inc. (NASDAQ:APGE - Free Report) by 20.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 594,994 shares of the company's stock after selling 152,331 shares during the quarter. Apogee Therapeutics accounts for 1.3% of Siren L.L.C.'s portfolio, making the stock its 22nd largest position. Siren L.L.C. owned about 1.29% of Apogee Therapeutics worth $22,229,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Northern Trust Corp increased its holdings in shares of Apogee Therapeutics by 6.8% in the 4th quarter. Northern Trust Corp now owns 327,292 shares of the company's stock valued at $14,826,000 after purchasing an additional 20,743 shares during the period. Ameriprise Financial Inc. acquired a new position in shares of Apogee Therapeutics in the 4th quarter valued at about $259,000. BNP Paribas Financial Markets acquired a new position in shares of Apogee Therapeutics in the 4th quarter valued at about $219,000. Deutsche Bank AG increased its holdings in Apogee Therapeutics by 50.9% in the fourth quarter. Deutsche Bank AG now owns 31,739 shares of the company's stock worth $1,438,000 after buying an additional 10,709 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings 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 worth $51,455,000 after buying an additional 665,543 shares during the last quarter. 79.04% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apogee Therapeutics

In other news, insider Carl Dambkowski sold 2,725 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $37.87, for a total value of $103,195.75. Following the completion of the sale, the insider directly owned 233,548 shares of the company's stock, valued at approximately $8,844,462.76. This represents a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 15,540 shares of company stock valued at $661,104 over the last three months. 42.77% of the stock is currently owned by corporate insiders.

Apogee Therapeutics Stock Performance

Shares of APGE traded down $0.02 during mid-day trading on Tuesday, hitting $36.84. The company's stock had a trading volume of 337,954 shares, compared to its average volume of 473,241. Apogee Therapeutics Inc. has a one year low of $26.20 and a one year high of $63.50. The firm has a market capitalization of $1.70 billion, a PE ratio of -8.92 and a beta of 1.42. The stock's 50-day moving average is $37.72 and its two-hundred day moving average is $38.02.

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 the consensus estimate of ($1.03) by ($0.10). Analysts expect that Apogee Therapeutics Inc. will post -3.09 EPS for the current fiscal year.

Analysts Set New Price Targets

APGE has been the topic of a number of research reports. BTIG Research increased their price objective on Apogee Therapeutics from $100.00 to $115.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Citigroup restated a "buy" rating on shares of Apogee Therapeutics in a report on Thursday, August 28th. Zacks Research downgraded Apogee Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 14th. Wedbush restated an "outperform" rating and issued a $90.00 price objective on shares of Apogee Therapeutics in a report on Monday, August 11th. Finally, Bank of America increased their price objective on Apogee Therapeutics from $78.00 to $87.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. 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, Apogee Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $97.29.

Apogee Therapeutics 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.