Victory Capital Management Inc. Sells 123,296 Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE)

Victory Capital Management Inc. lowered its stake in shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) by 35.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,062 shares of the company’s stock after selling 123,296 shares during the quarter. Victory Capital Management Inc. owned about 0.50% of Apogee Therapeutics worth $10,105,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Apogee Therapeutics during the third quarter worth about $71,000. Wexford Capital LP acquired a new stake in Apogee Therapeutics in the third quarter valued at about $230,000. Intech Investment Management LLC acquired a new stake in shares of Apogee Therapeutics in the 3rd quarter valued at approximately $300,000. Valence8 US LP acquired a new stake in shares of Apogee Therapeutics in the 3rd quarter valued at approximately $308,000. Finally, FORA Capital LLC acquired a new stake in shares of Apogee Therapeutics in the 3rd quarter valued at approximately $399,000. Institutional investors and hedge funds own 79.04% of the company’s stock.

Insider Buying and Selling

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 10,000 shares of Apogee Therapeutics stock in a transaction that occurred on 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 directly owns 1,292,987 shares of the company’s stock, valued at $38,983,558.05. The trade was a 0.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Carl Dambkowski sold 4,085 shares of Apogee Therapeutics stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $46.94, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,195 shares of company stock worth $2,026,392. Corporate insiders own 36.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Canaccord Genuity Group assumed 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 reiterated a “buy” rating on shares of Apogee Therapeutics in a research report on Monday, February 10th. 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 on the stock. Citigroup started coverage on shares of Apogee Therapeutics in a report on Thursday. They set a “buy” rating and a $95.00 price target on the stock. Finally, Wedbush reaffirmed an “outperform” rating and set a $90.00 target price on shares of Apogee Therapeutics in a report on Tuesday. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $92.17.

Apogee Therapeutics Stock Down 0.5 %

Shares of APGE stock opened at $38.33 on Friday. The company has a 50 day moving average of $38.55 and a 200-day moving average of $46.71. Apogee Therapeutics, Inc. has a 12-month low of $29.10 and a 12-month high of $71.75. The firm has a market cap of $1.73 billion, a P/E ratio of -15.84 and a beta of 2.46.

Apogee Therapeutics (NASDAQ:APGE) last announced 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 analysts expect that Apogee Therapeutics, Inc. will post -3.09 EPS for the current 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.