Soleus Capital Management L.P. Invests $3.17 Million in Apogee Therapeutics, Inc. (NASDAQ:APGE)

Soleus Capital Management L.P. purchased a new position in shares of Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 70,000 shares of the company's stock, valued at approximately $3,171,000. Soleus Capital Management L.P. owned approximately 0.16% of Apogee Therapeutics at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in APGE. Barclays PLC increased its position in shares of Apogee Therapeutics by 369.2% during the third quarter. Barclays PLC now owns 365,046 shares of the company's stock worth $21,443,000 after purchasing an additional 287,243 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Apogee Therapeutics by 4.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 29,555 shares of the company's stock valued at $1,736,000 after acquiring an additional 1,212 shares during the period. SG Americas Securities LLC boosted its holdings in Apogee Therapeutics by 22.2% in the fourth quarter. SG Americas Securities LLC now owns 9,890 shares of the company's stock valued at $448,000 after purchasing an additional 1,796 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Apogee Therapeutics by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,547 shares of the company's stock valued at $432,000 after purchasing an additional 892 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in Apogee Therapeutics by 3.4% in the fourth quarter. Rhumbline Advisers now owns 52,720 shares of the company's stock valued at $2,388,000 after purchasing an additional 1,750 shares during the last quarter. 79.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on APGE shares. Guggenheim reissued a "buy" rating on shares of Apogee Therapeutics in a research note on Monday, February 10th. Wedbush reaffirmed an "outperform" rating and issued a $90.00 price target on shares of Apogee Therapeutics in a research note on Tuesday, March 11th. Finally, Citigroup initiated coverage on shares of Apogee Therapeutics in a research note on Thursday, March 13th. They issued a "buy" rating and a $95.00 price target on the stock. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Apogee Therapeutics has an average rating of "Buy" and a consensus price target of $94.60.

Apogee Therapeutics Trading Down 2.2%

Apogee Therapeutics stock traded down $0.88 during trading on Friday, hitting $39.48. The company had a trading volume of 405,796 shares, compared to its average volume of 523,828. Apogee Therapeutics, Inc. has a 1-year low of $26.20 and a 1-year high of $63.50. The company's 50 day simple moving average is $36.74 and its 200-day simple moving average is $40.67. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -16.31 and a beta of 1.70.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.95) earnings per share for the quarter, beating the consensus estimate of ($1.19) by $0.24. As a group, analysts forecast that Apogee Therapeutics, Inc. will post -3.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Apogee Therapeutics news, insider Carl Dambkowski sold 2,725 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $35.75, for a total value of $97,418.75. Following the completion of the transaction, the insider now owns 244,448 shares in the company, valued at $8,739,016. The trade was a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael Thomas Henderson sold 10,000 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $30.15, for a total transaction of $301,500.00. Following the completion of the transaction, the chief executive officer now owns 1,292,987 shares of the company's stock, valued at approximately $38,983,558.05. This trade represents a 0.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,175 shares of company stock worth $587,191 over the last 90 days. Corporate insiders own 42.77% of the company's stock.

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.