XTX Topco Ltd Grows Stock Position in Apogee Therapeutics Inc. (NASDAQ:APGE)

Key Points

• XTX Topco Ltd increased its shares in Apogee Therapeutics by 170.8% in Q1, holding a total of 17,188 shares valued at $642,000.
• Several analysts have set new price targets for Apogee Therapeutics, with a consensus target of $99.00 and multiple buy ratings from firms like BTIG Research and Guggenheim.
• On July 2nd, insider Carl Dambkowski sold 10,090 shares for over $454,000, reducing his ownership by 4.05% but still holding 238,998 shares valued at approximately $10.78 million.

XTX Topco Ltd increased its position in shares of Apogee Therapeutics Inc. (NASDAQ:APGE - Free Report) by 170.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,188 shares of the company's stock after acquiring an additional 10,840 shares during the period. XTX Topco Ltd's holdings in Apogee Therapeutics were worth $642,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Commonwealth Equity Services LLC acquired a new position in Apogee Therapeutics during the 4th quarter worth $222,000. KLP Kapitalforvaltning AS acquired a new position in shares of Apogee Therapeutics during the 4th quarter worth about $226,000. JPMorgan Chase & Co. increased its holdings in shares of Apogee Therapeutics by 26.1% in the 4th quarter. JPMorgan Chase & Co. now owns 37,255 shares of the company's stock valued at $1,688,000 after acquiring an additional 7,700 shares during the last quarter. Legal & General Group Plc raised its position in shares of Apogee Therapeutics by 15.7% during the 4th quarter. Legal & General Group Plc now owns 25,873 shares of the company's stock worth $1,172,000 after acquiring an additional 3,520 shares in the last quarter. Finally, Kennedy Capital Management LLC lifted its stake in Apogee Therapeutics by 75.5% during the fourth quarter. Kennedy Capital Management LLC now owns 72,307 shares of the company's stock worth $3,276,000 after purchasing an additional 31,113 shares during the last quarter. 79.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on APGE. Guggenheim restated a "buy" rating and set a $116.00 price objective 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. Citigroup reaffirmed a "buy" rating on shares of Apogee Therapeutics in a report on Monday, July 7th. Finally, BTIG Research boosted their target price on Apogee Therapeutics from $100.00 to $115.00 and gave the company a "buy" rating in a report on Monday, July 7th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Apogee Therapeutics presently has a consensus rating of "Buy" and an average target price of $99.00.

Apogee Therapeutics Stock Performance

NASDAQ:APGE traded down $0.32 during midday trading on Thursday, reaching $36.00. The stock had a trading volume of 489,316 shares, compared to its average volume of 716,840. Apogee Therapeutics Inc. has a 12-month low of $26.20 and a 12-month high of $63.50. The firm has a fifty day simple moving average of $40.24 and a two-hundred day simple moving average of $38.07.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.19) by $0.24. On average, sell-side analysts expect that Apogee Therapeutics Inc. will post -3.09 EPS for the current year.

Insider Activity

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

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.