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Wells Fargo & Company MN Lowers Stock Holdings in Apogee Therapeutics, Inc. (NASDAQ:APGE)

Apogee Therapeutics logo with Medical background

Wells Fargo & Company MN lowered its stake in Apogee Therapeutics, Inc. (NASDAQ:APGE - Free Report) by 82.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in APGE. Aigen Investment Management LP bought a new position in shares of Apogee Therapeutics during the fourth quarter valued at $216,000. Commonwealth Equity Services LLC bought a new stake in Apogee Therapeutics during the 4th quarter valued at about $222,000. KLP Kapitalforvaltning AS purchased a new position in Apogee Therapeutics in the fourth quarter worth about $226,000. Arizona State Retirement System lifted its stake in shares of Apogee Therapeutics by 17.3% in the fourth quarter. Arizona State Retirement System now owns 6,517 shares of the company's stock worth $295,000 after buying an additional 960 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in shares of Apogee Therapeutics by 38.2% during the fourth quarter. Teacher Retirement System of Texas now owns 6,689 shares of the company's stock valued at $303,000 after buying an additional 1,848 shares during the last quarter. Institutional investors own 79.04% of the company's stock.

Insider Buying and Selling at Apogee Therapeutics

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 10,000 shares of the 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 transaction, the chief executive officer now owns 1,292,987 shares of the company's stock, valued at approximately $38,983,558.05. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Carl Dambkowski sold 3,520 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $40.69, for a total value of $143,228.80. Following the completion of the transaction, the insider now directly owns 252,623 shares in the company, valued at approximately $10,279,229.87. This represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,970 shares of company stock valued at $1,241,701. 36.10% of the stock is owned by company insiders.

Apogee Therapeutics Price Performance

Apogee Therapeutics stock opened at $39.25 on Thursday. Apogee Therapeutics, Inc. has a one year low of $26.20 and a one year high of $63.50. The stock has a market capitalization of $1.77 billion, a PE ratio of -16.22 and a beta of 1.72. The business's fifty day moving average is $35.40 and its 200 day moving average is $42.46.

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

Wall Street Analyst Weigh In

APGE has been the topic of several analyst reports. Wedbush reaffirmed an "outperform" rating and issued a $90.00 price objective on shares of Apogee Therapeutics in a research report on Tuesday, March 11th. Citigroup began coverage on Apogee Therapeutics in a report on Thursday, March 13th. They set a "buy" rating and a $95.00 price target on the stock. Finally, Guggenheim reaffirmed a "buy" rating on shares of Apogee Therapeutics in a research report on Monday, February 10th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Apogee Therapeutics has a consensus rating of "Buy" and an average price target of $92.17.

View Our Latest Stock Report on APGE

About Apogee Therapeutics

(Free Report)

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.

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Institutional Ownership by Quarter for Apogee Therapeutics (NASDAQ:APGE)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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