Apogee Therapeutics Inc. (NASDAQ:APGE) Stock Holdings Lowered by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its stake in Apogee Therapeutics by 19.8%, now owning 101,388 shares valued at approximately $3.79 million as of their latest SEC filing.
• Insider Carl Dambkowski sold 10,090 shares of Apogee for about $454,958, reflecting a decrease in his ownership by 4.05%.
• Apogee Therapeutics has received multiple buy ratings from analysts, with a consensus target price of $99.00 and recent price fluctuations ranging between $26.20 and $63.50.

TD Asset Management Inc cut its holdings in shares of Apogee Therapeutics Inc. (NASDAQ:APGE - Free Report) by 19.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 101,388 shares of the company's stock after selling 25,058 shares during the quarter. TD Asset Management Inc owned 0.23% of Apogee Therapeutics worth $3,788,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in APGE. Commonwealth Equity Services LLC purchased a new stake in shares of Apogee Therapeutics in the 4th quarter valued at approximately $222,000. KLP Kapitalforvaltning AS purchased a new position in Apogee Therapeutics in the fourth quarter valued at $226,000. JPMorgan Chase & Co. raised its stake in Apogee Therapeutics by 26.1% in the fourth quarter. JPMorgan Chase & Co. now owns 37,255 shares of the company's stock valued at $1,688,000 after buying an additional 7,700 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Apogee Therapeutics by 13.5% during the 4th quarter. Alliancebernstein L.P. now owns 1,355,185 shares of the company's stock worth $61,390,000 after buying an additional 160,822 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Apogee Therapeutics by 0.6% in the 4th quarter. Franklin Resources Inc. now owns 866,188 shares of the company's stock valued at $39,238,000 after acquiring an additional 5,199 shares during the last quarter. Hedge funds and other institutional investors own 79.04% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. BTIG Research increased 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. 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. Wedbush reissued an "outperform" rating and issued a $90.00 price target on shares of Apogee Therapeutics in a research report on Monday, July 7th. Finally, Citigroup reaffirmed a "buy" rating on shares of Apogee Therapeutics in a report on Monday, July 7th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $99.00.

Apogee Therapeutics Stock Down 4.5%

NASDAQ APGE traded down $1.74 during trading hours on Wednesday, hitting $36.59. 855,011 shares of the stock were exchanged, compared to its average volume of 759,228. The stock has a 50-day moving average of $40.24 and a 200 day moving average of $38.08. The company has a market cap of $1.69 billion, a price-to-earnings ratio of -10.16 and a beta of 1.43. Apogee Therapeutics Inc. has a 12-month low of $26.20 and a 12-month high of $63.50.

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

Insider Buying and Selling at Apogee Therapeutics

In other news, insider Carl Dambkowski sold 10,090 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $45.09, for a total value of $454,958.10. Following the completion of the sale, the insider owned 238,998 shares of the company's stock, valued at $10,776,419.82. This represents a 4.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 42.77% of the stock is currently owned by insiders.

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.