Wellington Management Group LLP Raises Holdings in Apogee Therapeutics Inc. $APGE

Key Points

• Wellington Management Group LLP increased its stake in Apogee Therapeutics by 21.4%, owning approximately 12.22% of the company, equating to worth about $204.9 million as of its recent SEC filing.
• Various institutional investors, including JPMorgan Chase & Co. and Marshall Wace LLP, have also significantly raised their positions in Apogee Therapeutics during the past quarter.
• Apogee Therapeutics reported an earnings miss, with an EPS of ($1.13), falling short of the consensus estimate of ($1.03) for the last quarter.

Wellington Management Group LLP increased its stake in shares of Apogee Therapeutics Inc. (NASDAQ:APGE - Free Report) by 21.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,485,754 shares of the company's stock after acquiring an additional 968,391 shares during the quarter. Wellington Management Group LLP owned approximately 12.22% of Apogee Therapeutics worth $204,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of APGE. JPMorgan Chase & Co. boosted its stake in shares of Apogee Therapeutics by 26.1% during the fourth quarter. JPMorgan Chase & Co. now owns 37,255 shares of the company's stock valued at $1,688,000 after purchasing an additional 7,700 shares during the period. Legal & General Group Plc raised its holdings in Apogee Therapeutics by 15.7% during the 4th quarter. Legal & General Group Plc now owns 25,873 shares of the company's stock valued at $1,172,000 after buying an additional 3,520 shares during the last quarter. XTX Topco Ltd bought a new stake in Apogee Therapeutics in the 4th quarter worth $288,000. Marshall Wace LLP raised its position in Apogee Therapeutics by 1,963.9% during the 4th quarter. Marshall Wace LLP now owns 75,849 shares of the company's stock valued at $3,436,000 after purchasing an additional 72,174 shares during the last quarter. Finally, MetLife Investment Management LLC increased its stake in shares of Apogee Therapeutics by 8.7% during the fourth quarter. MetLife Investment Management LLC now owns 22,960 shares of the company's stock valued at $1,040,000 after buying an additional 1,845 shares during the period. Institutional investors own 79.04% of the company's stock.

Insider Buying and Selling at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 2,725 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $37.78, for a total transaction of $102,950.50. Following the completion of the transaction, the insider owned 236,273 shares of the company's stock, valued at $8,926,393.94. This trade represents a 1.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 15,540 shares of company stock valued at $658,625. Corporate insiders own 42.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on APGE shares. Guggenheim reaffirmed a "buy" rating and issued a $116.00 price target on shares of Apogee Therapeutics in a research note on Wednesday, July 2nd. Wedbush restated an "outperform" rating and issued a $90.00 price objective on shares of Apogee Therapeutics in a report on Monday, August 11th. Citigroup reaffirmed a "buy" rating on shares of Apogee Therapeutics in a research note on Monday, July 7th. Zacks Research cut shares of Apogee Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 14th. Finally, BTIG Research raised their price objective on shares of Apogee Therapeutics from $100.00 to $115.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $99.00.

Apogee Therapeutics Price Performance

NASDAQ:APGE opened at $36.02 on Thursday. The firm's 50-day moving average price is $39.78 and its 200-day moving average price is $37.82. The company has a market capitalization of $1.66 billion, a PE ratio of -8.72 and a beta of 1.43. Apogee Therapeutics Inc. has a 1-year low of $26.20 and a 1-year high of $63.50.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($1.03) by ($0.10). Equities analysts anticipate that Apogee Therapeutics Inc. will post -3.09 EPS for the current fiscal year.

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.

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