Platinum Investment Management Ltd. Lowers Stock Position in Apogee Therapeutics, Inc. (NASDAQ:APGE)

Platinum Investment Management Ltd. lessened its holdings in Apogee Therapeutics, Inc. (NASDAQ:APGE) by 11.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 95,646 shares of the company’s stock after selling 12,048 shares during the quarter. Platinum Investment Management Ltd.’s holdings in Apogee Therapeutics were worth $4,333,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Apogee Therapeutics in the 3rd quarter valued at approximately $71,000. Wexford Capital LP purchased a new stake in shares of Apogee Therapeutics during the 3rd quarter worth approximately $230,000. Aigen Investment Management LP purchased a new stake in shares of Apogee Therapeutics during the 4th quarter worth approximately $216,000. Commonwealth Equity Services LLC purchased a new stake in shares of Apogee Therapeutics during the 4th quarter worth approximately $222,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Apogee Therapeutics during the 3rd quarter worth approximately $300,000. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on APGE shares. Canaccord Genuity Group started coverage on Apogee Therapeutics in a research note on Monday, November 25th. They set a “buy” rating and a $89.00 price target on the stock. Guggenheim reissued a “buy” rating on shares of Apogee Therapeutics in a research note on Monday, February 10th. Citigroup began coverage on Apogee Therapeutics in a research note on Thursday, March 13th. They set a “buy” rating and a $95.00 price target on the stock. Wedbush restated an “outperform” rating and set a $90.00 price objective on shares of Apogee Therapeutics in a research report on Tuesday, March 11th. Finally, Canaccord Genuity Group began 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 equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Apogee Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $92.17.

Apogee Therapeutics Stock Performance

Shares of APGE opened at $38.83 on Wednesday. The stock has a fifty day moving average of $37.84 and a two-hundred day moving average of $46.43. The company has a market capitalization of $1.75 billion, a PE ratio of -16.05 and a beta of 2.46. Apogee Therapeutics, Inc. has a fifty-two week low of $29.10 and a fifty-two week high of $71.75.

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

Insider Buying and Selling at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 4,085 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $46.94, for a total value of $191,749.90. Following the completion of the transaction, the insider now directly owns 255,348 shares in the company, valued at approximately $11,986,035.12. The trade was a 1.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael Thomas Henderson sold 15,000 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $40.58, for a total value of $608,700.00. Following the completion of the transaction, the chief executive officer now owns 1,302,987 shares of the company’s stock, valued at $52,875,212.46. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 49,195 shares of company stock worth $2,026,392. Insiders own 36.10% of the company’s stock.

Apogee Therapeutics Company 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.