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 Apogee Therapeutics Inc. (NASDAQ:APGE - Free Report) by 20.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 594,994 shares of the company's stock after selling 152,331 shares during the quarter. Apogee Therapeutics makes up 1.3% of Siren L.L.C.'s investment portfolio, making the stock its 22nd biggest holding. Siren L.L.C. owned about 1.29% of Apogee Therapeutics worth $22,229,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in APGE. Northern Trust Corp boosted its position 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 worth $14,826,000 after buying an additional 20,743 shares in the last quarter. Ameriprise Financial Inc. purchased a new position in Apogee Therapeutics in the 4th quarter worth approximately $259,000. BNP Paribas Financial Markets purchased a new stake in Apogee Therapeutics during the 4th quarter worth $219,000. Deutsche Bank AG boosted 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 valued at $1,438,000 after purchasing an additional 10,709 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of 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.

Apogee Therapeutics Trading Down 1.0%

NASDAQ:APGE traded down $0.39 during mid-day trading on Friday, reaching $36.88. 474,539 shares of the stock were exchanged, compared to its average volume of 467,385. Apogee Therapeutics Inc. has a 1-year low of $26.20 and a 1-year high of $63.50. The firm has a market capitalization of $1.70 billion, a PE ratio of -8.93 and a beta of 1.42. The business has a fifty day moving average price of $37.76 and a 200 day moving average price of $37.89.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.03) by ($0.10). On average, sell-side analysts forecast that Apogee Therapeutics Inc. will post -3.09 earnings per share for the current year.

Insider Transactions at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 2,725 shares of the company's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $37.87, for a total value of $103,195.75. Following the transaction, the insider directly owned 233,548 shares of the company's stock, valued at $8,844,462.76. This represents a 1.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 15,540 shares of company stock worth $661,104 over the last ninety days. 42.77% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on APGE shares. Bank of America lifted their target price on Apogee Therapeutics from $78.00 to $87.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Guggenheim reaffirmed a "buy" rating and issued a $116.00 target price on shares of Apogee Therapeutics in a research report on Wednesday, July 2nd. Zacks Research lowered shares of Apogee Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 14th. BTIG Research raised their price target on shares of Apogee Therapeutics from $100.00 to $115.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Finally, Citigroup reissued a "buy" rating on shares of Apogee Therapeutics in a report on Thursday, August 28th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $97.29.

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.