ADAR1 Capital Management LLC Sells 15,909 Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE)

ADAR1 Capital Management LLC cut its position in Apogee Therapeutics, Inc. (NASDAQ:APGE) by 27.8% during the 4th quarter, HoldingsChannel reports. The firm owned 41,274 shares of the company’s stock after selling 15,909 shares during the quarter. ADAR1 Capital Management LLC’s holdings in Apogee Therapeutics were worth $1,870,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Apogee Therapeutics in the 3rd quarter valued at $71,000. Aigen Investment Management LP bought a new stake in shares of Apogee Therapeutics in the fourth quarter worth about $216,000. Commonwealth Equity Services LLC acquired a new stake in shares of Apogee Therapeutics during the fourth quarter worth about $222,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Apogee Therapeutics during the fourth quarter worth about $226,000. Finally, Arizona State Retirement System lifted its holdings in shares of Apogee Therapeutics by 17.3% during the 4th quarter. Arizona State Retirement System now owns 6,517 shares of the company’s stock valued at $295,000 after purchasing an additional 960 shares in the last quarter. 79.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price target on shares of Apogee Therapeutics in a research note on Tuesday, March 11th. Guggenheim restated a “buy” rating on shares of Apogee Therapeutics in a research note on Monday, February 10th. Finally, Citigroup initiated 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. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Apogee Therapeutics has an average rating of “Buy” and an average price target of $92.17.

Apogee Therapeutics Trading Down 7.6 %

NASDAQ APGE opened at $32.32 on Monday. Apogee Therapeutics, Inc. has a 12 month low of $21.00 and a 12 month high of $63.50. The stock has a 50 day moving average of $37.21 and a 200-day moving average of $45.40. The company has a market cap of $1.46 billion, a PE ratio of -13.36 and a beta of 1.72.

Apogee Therapeutics (NASDAQ:APGE) last issued its 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). As a group, sell-side analysts predict that Apogee Therapeutics, Inc. will post -3.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 15,000 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $48.85, for a total transaction of $732,750.00. Following the transaction, the chief executive officer now owns 1,309,487 shares in the company, valued at $63,968,439.95. This trade represents a 1.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 transaction of $143,228.80. Following the transaction, the insider now directly owns 252,623 shares in the company, valued at approximately $10,279,229.87. This represents a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,970 shares of company stock valued at $1,974,451 over the last ninety days. 36.10% of the stock is currently owned by company insiders.

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.