Apogee Therapeutics, Inc. (NASDAQ:APGE) Stake Lessened by Voya Investment Management LLC

Voya Investment Management LLC trimmed its position in Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report) by 18.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,960 shares of the company's stock after selling 10,557 shares during the period. Voya Investment Management LLC owned approximately 0.10% of Apogee Therapeutics worth $2,082,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of APGE. Optimize Financial Inc purchased a new stake in shares of Apogee Therapeutics in the fourth quarter valued at about $203,000. Aigen Investment Management LP purchased a new stake in Apogee Therapeutics in the 4th quarter valued at approximately $216,000. Commonwealth Equity Services LLC purchased a new stake in Apogee Therapeutics in the 4th quarter valued at approximately $222,000. KLP Kapitalforvaltning AS acquired a new position in Apogee Therapeutics during the 4th quarter worth approximately $226,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Apogee Therapeutics by 356.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,287 shares of the company's stock worth $285,000 after buying an additional 4,910 shares in the last quarter. 79.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, CEO Michael Thomas Henderson sold 10,000 shares of Apogee Therapeutics stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $30.15, for a total value of $301,500.00. Following the completion of the sale, the chief executive officer now owns 1,292,987 shares in the company, valued at approximately $38,983,558.05. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Carl Dambkowski sold 1,590 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $30.48, for a total transaction of $48,463.20. Following the completion of the sale, the insider now directly owns 251,033 shares in the company, valued at $7,651,485.84. This represents a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,450 shares of company stock worth $489,772. 36.10% of the stock is currently owned by company insiders.

Apogee Therapeutics Trading Down 0.9 %

Shares of NASDAQ APGE traded down $0.31 on Wednesday, reaching $35.26. 702,231 shares of the company traded hands, compared to its average volume of 519,444. The company has a 50 day moving average of $35.92 and a 200 day moving average of $41.90. Apogee Therapeutics, Inc. has a fifty-two week low of $26.20 and a fifty-two week high of $63.50. The stock has a market capitalization of $1.58 billion, a PE ratio of -14.57 and a beta of 1.70.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last posted its quarterly earnings results on Monday, March 3rd. The company reported ($1.19) earnings per share for the quarter, missing analysts' consensus estimates of ($0.94) by ($0.25). As a group, research analysts expect that Apogee Therapeutics, Inc. will post -3.09 earnings per share for the current year.

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.