Wellington Management Group LLP Has $204.95 Million Stock Position 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 boosted its stake in shares of Apogee Therapeutics Inc. (NASDAQ:APGE - Free Report) by 21.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new stake in Apogee Therapeutics during the 1st quarter worth about $42,000. GF Fund Management CO. LTD. bought a new stake in Apogee Therapeutics during the 4th quarter worth about $43,000. GAMMA Investing LLC grew its holdings in Apogee Therapeutics by 3,560.1% during the 1st quarter. GAMMA Investing LLC now owns 5,417 shares of the company's stock worth $202,000 after acquiring an additional 5,269 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Apogee Therapeutics during the 4th quarter worth about $219,000. Finally, Ameriprise Financial Inc. bought a new stake in Apogee Therapeutics during the 4th quarter worth about $259,000. Institutional investors own 79.04% of the company's stock.

Apogee Therapeutics Trading Up 2.5%

Shares of NASDAQ:APGE traded up $0.93 during mid-day trading on Tuesday, reaching $37.87. The stock had a trading volume of 322,959 shares, compared to its average volume of 542,410. The firm has a market cap of $1.75 billion, a PE ratio of -9.17 and a beta of 1.43. The firm has a 50 day simple moving average of $39.36 and a two-hundred day simple moving average of $37.71. Apogee Therapeutics Inc. has a twelve month low of $26.20 and a twelve month high of $63.50.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported ($1.13) earnings per share for the quarter, missing analysts' consensus estimates of ($1.03) by ($0.10). On average, equities analysts anticipate 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 analyst reports. BTIG Research increased 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. Guggenheim restated a "buy" rating and set a $116.00 target price on shares of Apogee Therapeutics in a research report on Wednesday, July 2nd. Wedbush restated an "outperform" rating and set a $90.00 target price on shares of Apogee Therapeutics in a research report on Monday, August 11th. Zacks Research downgraded shares of Apogee Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 14th. Finally, Citigroup restated a "buy" rating on shares of Apogee Therapeutics in a research report on Monday, July 7th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $99.00.

Insider Buying and Selling at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 2,725 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $37.78, for a total value of $102,950.50. Following the sale, the insider directly owned 236,273 shares in the company, valued at $8,926,393.94. This trade represents a 1.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 15,540 shares of company stock valued at $658,625. Company insiders own 42.77% of the company's stock.

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.