JPMorgan Chase & Co. Increases Stock Holdings in Apogee Therapeutics, Inc. (NASDAQ:APGE)

JPMorgan Chase & Co. lifted its holdings in shares of Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report) by 26.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,255 shares of the company's stock after purchasing an additional 7,700 shares during the quarter. JPMorgan Chase & Co. owned about 0.08% of Apogee Therapeutics worth $1,688,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Barclays PLC boosted its stake in Apogee Therapeutics by 369.2% during the third quarter. Barclays PLC now owns 365,046 shares of the company's stock worth $21,443,000 after buying an additional 287,243 shares during the period. Erste Asset Management GmbH acquired a new position in shares of Apogee Therapeutics in the 4th quarter worth approximately $1,099,000. Intech Investment Management LLC increased its holdings in Apogee Therapeutics by 232.0% in the 4th quarter. Intech Investment Management LLC now owns 16,934 shares of the company's stock valued at $767,000 after purchasing an additional 11,834 shares during the last quarter. Swiss National Bank raised its position in Apogee Therapeutics by 17.5% in the fourth quarter. Swiss National Bank now owns 44,300 shares of the company's stock valued at $2,007,000 after purchasing an additional 6,600 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Apogee Therapeutics during the fourth quarter worth $226,000. 79.04% of the stock is owned by institutional investors and hedge funds.

Apogee Therapeutics Trading Up 1.0 %

NASDAQ:APGE traded up $0.41 during mid-day trading on Thursday, hitting $39.66. The stock had a trading volume of 50,168 shares, compared to its average volume of 512,529. Apogee Therapeutics, Inc. has a twelve month low of $26.20 and a twelve month high of $63.50. The company has a market capitalization of $1.79 billion, a PE ratio of -16.38 and a beta of 1.72. The stock has a 50-day simple moving average of $35.40 and a two-hundred day simple moving average of $42.46.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last released its quarterly earnings data on Monday, March 3rd. The company reported ($1.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.94) by ($0.25). Sell-side analysts predict that Apogee Therapeutics, Inc. will post -3.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on APGE. Citigroup assumed coverage on Apogee Therapeutics in a research note on Thursday, March 13th. They set a "buy" rating and a $95.00 target price on the stock. Wedbush reissued an "outperform" rating and set a $90.00 price target on shares of Apogee Therapeutics in a research report on Tuesday, March 11th. Finally, Guggenheim reiterated a "buy" rating on shares of Apogee Therapeutics in a report on Monday, February 10th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $92.17.

Insider Transactions at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 3,520 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $40.69, for a total transaction of $143,228.80. Following the sale, the insider now owns 252,623 shares of the company's stock, valued at approximately $10,279,229.87. This trade represents a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Thomas Henderson sold 10,000 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $30.15, for a total transaction of $301,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,292,987 shares of the company's stock, valued at approximately $38,983,558.05. This trade represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,970 shares of company stock valued at $1,241,701. 36.10% of the stock is currently owned by corporate insiders.

About Apogee Therapeutics

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.