Apogee Therapeutics, Inc. (NASDAQ:APGE) Holdings Lowered by Wells Fargo & Company MN

Wells Fargo & Company MN trimmed its holdings in shares of Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report) by 82.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,705 shares of the company's stock after selling 80,585 shares during the period. Wells Fargo & Company MN's holdings in Apogee Therapeutics were worth $802,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Aigen Investment Management LP purchased a new position in Apogee Therapeutics during the fourth quarter worth $216,000. Commonwealth Equity Services LLC acquired a new stake in shares of Apogee Therapeutics during the fourth quarter valued at $222,000. KLP Kapitalforvaltning AS purchased a new stake in Apogee Therapeutics during the 4th quarter worth about $226,000. Arizona State Retirement System raised its stake in Apogee Therapeutics by 17.3% in the 4th quarter. Arizona State Retirement System now owns 6,517 shares of the company's stock valued at $295,000 after purchasing an additional 960 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in Apogee Therapeutics by 38.2% in the 4th quarter. Teacher Retirement System of Texas now owns 6,689 shares of the company's stock valued at $303,000 after purchasing an additional 1,848 shares in the last quarter. 79.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Citigroup assumed coverage on shares of Apogee Therapeutics in a research report on Thursday, March 13th. They issued a "buy" rating and a $95.00 price objective for the company. Guggenheim reiterated a "buy" rating on shares of Apogee Therapeutics in a report on Monday, February 10th. Finally, Wedbush reissued an "outperform" rating and set a $90.00 price target 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 data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $92.17.

Apogee Therapeutics Price Performance

NASDAQ:APGE traded down $3.82 during trading hours on Tuesday, reaching $35.57. 877,996 shares of the company were exchanged, compared to its average volume of 518,712. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -14.70 and a beta of 1.70. The stock has a 50 day simple moving average of $35.92 and a 200 day simple moving average of $41.90. Apogee Therapeutics, Inc. has a 52-week low of $26.20 and a 52-week high of $63.50.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last issued its 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). On average, analysts predict that Apogee Therapeutics, Inc. will post -3.09 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Michael Thomas Henderson sold 10,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was 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 of the company's stock, valued at $38,983,558.05. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Carl Dambkowski sold 3,860 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $36.22, for a total value of $139,809.20. Following the sale, the insider now owns 247,173 shares in the company, valued at approximately $8,952,606.06. The trade was a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,970 shares of company stock valued at $1,241,701. 36.10% of the stock is currently 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.