Apogee Therapeutics Inc. $APGE Shares Purchased by Woodline Partners LP

Key Points

• Woodline Partners LP increased its stake in Apogee Therapeutics by 4.5%, owning approximately 2.36% of the company, valued at $39.64 million as of the latest SEC filing.
• Apogee Therapeutics has received both positive and negative reviews from analysts, with Zacks lowering its rating to "hold", while Citigroup and Bank of America maintained a "buy" rating and increased target prices.
• Insider trading activity has been noted, with a significant sale of 2,725 shares by insider Carl Dambkowski, reflecting recent changes in ownership among corporate insiders who own 42.77% of the stock.

Woodline Partners LP lifted its holdings in shares of Apogee Therapeutics Inc. (NASDAQ:APGE - Free Report) by 4.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,061,053 shares of the company's stock after buying an additional 45,445 shares during the period. Woodline Partners LP owned about 2.36% of Apogee Therapeutics worth $39,641,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of APGE. Octagon Capital Advisors LP purchased a new stake in shares of Apogee Therapeutics during the 1st quarter worth approximately $399,752,000. Wellington Management Group LLP boosted its stake in shares of Apogee Therapeutics by 21.4% during the 1st quarter. Wellington Management Group LLP now owns 5,485,754 shares of the company's stock worth $204,948,000 after acquiring an additional 968,391 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Apogee Therapeutics by 141.7% during the 4th quarter. Janus Henderson Group PLC now owns 1,135,100 shares of the company's stock worth $51,455,000 after acquiring an additional 665,543 shares in the last quarter. Paradigm Biocapital Advisors LP boosted its stake in shares of Apogee Therapeutics by 82.9% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 1,283,766 shares of the company's stock worth $58,155,000 after acquiring an additional 581,949 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its stake in shares of Apogee Therapeutics by 202.7% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 727,000 shares of the company's stock worth $27,161,000 after acquiring an additional 486,800 shares in the last quarter. 79.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on APGE shares. Citigroup reissued a "buy" rating on shares of Apogee Therapeutics in a research note on Thursday, August 28th. Guggenheim reissued a "buy" rating and set a $116.00 price target on shares of Apogee Therapeutics in a research note on Wednesday, July 2nd. Bank of America boosted their price target on Apogee Therapeutics from $78.00 to $87.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. Wedbush reissued an "outperform" rating and set a $90.00 price target on shares of Apogee Therapeutics in a research note on Monday, August 11th. Finally, BTIG Research upped their target price on Apogee Therapeutics from $100.00 to $115.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $97.29.

Apogee Therapeutics Trading Down 2.1%

Shares of Apogee Therapeutics stock traded down $0.76 during trading hours on Monday, reaching $36.12. 116,995 shares of the company's stock were exchanged, compared to its average volume of 717,096. Apogee Therapeutics Inc. has a 52-week low of $26.20 and a 52-week high of $63.50. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of -8.76 and a beta of 1.42. The company has a fifty day moving average of $37.76 and a 200-day moving average of $37.99.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last issued 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 research analysts anticipate that Apogee Therapeutics Inc. will post -3.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 10,090 shares of Apogee Therapeutics stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $45.09, for a total value of $454,958.10. Following the transaction, the insider owned 238,998 shares in the company, valued at approximately $10,776,419.82. This trade represents a 4.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 15,540 shares of company stock valued at $661,104. Company insiders own 42.77% of the company's stock.

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.