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

Bank of New York Mellon Corp decreased its position in Apogee Therapeutics, Inc. (NASDAQ:APGE) by 1.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 110,827 shares of the company’s stock after selling 1,774 shares during the period. Bank of New York Mellon Corp owned about 0.25% of Apogee Therapeutics worth $5,020,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Apogee Therapeutics in the 3rd quarter valued at about $71,000. Wexford Capital LP purchased a new stake in shares of 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 third quarter valued at approximately $300,000. Valence8 US LP purchased a new position in shares of Apogee Therapeutics during the 3rd quarter worth approximately $308,000. Finally, FORA Capital LLC acquired a new position in shares of Apogee Therapeutics during the 3rd quarter worth approximately $399,000. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Insider Activity

In related news, insider Carl Dambkowski sold 1,590 shares of Apogee Therapeutics stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $30.48, for a total transaction of $48,463.20. Following the transaction, the insider now owns 251,033 shares in the company, valued at approximately $7,651,485.84. The trade was a 0.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Thomas Henderson sold 15,000 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $40.58, for a total transaction of $608,700.00. Following the sale, the chief executive officer now directly owns 1,302,987 shares of the company’s stock, valued at approximately $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. Insiders sold 49,195 shares of company stock valued at $2,026,392 in the last ninety days. Company insiders own 36.10% of the company’s stock.

Apogee Therapeutics Trading Up 1.0 %

Shares of NASDAQ:APGE opened at $40.35 on Tuesday. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of -16.67 and a beta of 2.46. The stock’s 50-day moving average price is $38.05 and its two-hundred day moving average price is $46.52. Apogee Therapeutics, Inc. has a 12-month low of $29.10 and a 12-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 (EPS) for the quarter, missing the consensus estimate of ($0.94) by ($0.25). As a group, research analysts forecast that Apogee Therapeutics, Inc. will post -3.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

APGE has been the topic of a number of analyst reports. Guggenheim reiterated a “buy” rating on shares of Apogee Therapeutics in a report on Monday, February 10th. Citigroup started coverage on Apogee Therapeutics in a research report on Thursday, March 13th. They set a “buy” rating and a $95.00 price objective for the company. Canaccord Genuity Group assumed coverage on shares of Apogee Therapeutics in a report on Monday, November 25th. They issued a “buy” rating and a $89.00 target price on the stock. Wedbush reaffirmed an “outperform” rating and set a $90.00 price target on shares of Apogee Therapeutics in a research note on Tuesday, March 11th. Finally, Canaccord Genuity Group initiated coverage on shares of Apogee Therapeutics in a research report on Monday, November 25th. They issued 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 data from MarketBeat, Apogee Therapeutics has an average 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.