Apogee Therapeutics, Inc. (NASDAQ:APGE) Position Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in Apogee Therapeutics, Inc. (NASDAQ:APGE) by 1.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 110,827 shares of the company’s stock after selling 1,774 shares during the period. Bank of New York Mellon Corp’s holdings in Apogee Therapeutics were worth $5,020,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Point72 Asset Management L.P. increased its holdings in Apogee Therapeutics by 162.7% in the third quarter. Point72 Asset Management L.P. now owns 707,268 shares of the company’s stock valued at $41,545,000 after buying an additional 438,036 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Apogee Therapeutics by 11.2% in the third quarter. Geode Capital Management LLC now owns 823,839 shares of the company’s stock worth $48,401,000 after purchasing an additional 82,978 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Apogee Therapeutics by 17.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 280,428 shares of the company’s stock valued at $16,472,000 after purchasing an additional 41,686 shares during the last quarter. Vestal Point Capital LP acquired a new stake in shares of Apogee Therapeutics during the third quarter worth $8,018,000. Finally, Victory Capital Management Inc. lifted its position in shares of Apogee Therapeutics by 121.6% in the 3rd quarter. Victory Capital Management Inc. now owns 346,358 shares of the company’s stock worth $20,345,000 after buying an additional 190,092 shares during the last quarter. Institutional investors and hedge funds own 79.04% of the company’s stock.

Apogee Therapeutics Trading Up 1.0 %

Shares of NASDAQ:APGE opened at $40.35 on Tuesday. The company has a 50 day moving average of $38.05 and a 200-day moving average of $46.52. The firm has a market cap of $1.82 billion, a P/E ratio of -16.67 and a beta of 2.46. Apogee Therapeutics, Inc. has a twelve month low of $29.10 and a twelve month high of $71.75.

Apogee Therapeutics (NASDAQ:APGE) last released 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). Equities research analysts forecast that Apogee Therapeutics, Inc. will post -3.09 EPS for the current year.

Insider Activity

In other news, CEO Michael Thomas Henderson sold 10,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was 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 owns 1,292,987 shares in the company, valued at approximately $38,983,558.05. This represents a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Carl Dambkowski sold 1,590 shares of Apogee Therapeutics stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $30.48, for a total value of $48,463.20. Following the completion of the transaction, the insider now owns 251,033 shares in the company, valued at $7,651,485.84. The trade was a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,195 shares of company stock worth $2,026,392 over the last 90 days. 36.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wedbush reaffirmed an “outperform” rating and set a $90.00 target price on shares of Apogee Therapeutics in a report on Tuesday, March 11th. Canaccord Genuity Group assumed coverage on shares of Apogee Therapeutics in a report on Monday, November 25th. They set a “buy” rating and a $89.00 price target for the company. Citigroup began 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 on the stock. Guggenheim restated a “buy” rating on shares of Apogee Therapeutics in a research note on Monday, February 10th. Finally, Canaccord Genuity Group assumed coverage on Apogee Therapeutics in a research report on Monday, November 25th. They set a “buy” rating and a $89.00 price objective for the company. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $92.17.

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.