Wellington Management Group LLP Lowers Stake in Apogee Therapeutics, Inc. (NASDAQ:APGE)

Wellington Management Group LLP lessened its holdings in Apogee Therapeutics, Inc. (NASDAQ:APGE) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,517,363 shares of the company’s stock after selling 297,037 shares during the quarter. Wellington Management Group LLP owned about 10.03% of Apogee Therapeutics worth $204,637,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in APGE. Point72 Asset Management L.P. raised its position in shares of Apogee Therapeutics by 162.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 707,268 shares of the company’s stock worth $41,545,000 after purchasing an additional 438,036 shares during the last quarter. Geode Capital Management LLC increased its stake in Apogee Therapeutics by 11.2% during the 3rd quarter. Geode Capital Management LLC now owns 823,839 shares of the company’s stock valued at $48,401,000 after purchasing an additional 82,978 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Apogee Therapeutics by 17.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 280,428 shares of the company’s stock worth $16,472,000 after buying an additional 41,686 shares during the last quarter. Barclays PLC lifted its stake in shares of Apogee Therapeutics by 369.2% in the third quarter. Barclays PLC now owns 365,046 shares of the company’s stock worth $21,443,000 after buying an additional 287,243 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Apogee Therapeutics during the third quarter valued at approximately $300,000. Institutional investors own 79.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on APGE shares. 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. Guggenheim reaffirmed a “buy” rating on shares of Apogee Therapeutics in a research report on Monday, February 10th. Finally, Citigroup started coverage on Apogee Therapeutics in a research report on Thursday, March 13th. They issued a “buy” rating and a $95.00 target price for the company. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $92.17.

Insider Buying and Selling at Apogee Therapeutics

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 15,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $48.85, for a total value of $732,750.00. Following the completion of the sale, the chief executive officer now owns 1,309,487 shares in the company, valued at $63,968,439.95. This represents a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Carl Dambkowski sold 3,520 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was 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 $10,279,229.87. This trade represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,110 shares of company stock valued at $1,834,642. Insiders own 36.10% of the company’s stock.

Apogee Therapeutics Price Performance

Shares of APGE opened at $37.83 on Thursday. The firm has a market capitalization of $1.70 billion, a P/E ratio of -15.63 and a beta of 2.46. Apogee Therapeutics, Inc. has a one year low of $29.10 and a one year high of $63.50. The business has a fifty day moving average of $37.48 and a 200 day moving average of $45.70.

Apogee Therapeutics (NASDAQ:APGE) last released its quarterly earnings results on Monday, March 3rd. The company reported ($1.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.25). Analysts expect that Apogee Therapeutics, Inc. will post -3.09 EPS for the current fiscal year.

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.