Corebridge Financial Inc. Cuts Position in Apogee Therapeutics, Inc. (NASDAQ:APGE)

Corebridge Financial Inc. decreased its position in Apogee Therapeutics, Inc. (NASDAQ:APGE) by 7.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,839 shares of the company’s stock after selling 1,422 shares during the quarter. Corebridge Financial Inc.’s holdings in Apogee Therapeutics were worth $853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of APGE. Wellington Management Group LLP increased its position in Apogee Therapeutics by 35.7% in the third quarter. Wellington Management Group LLP now owns 4,814,400 shares of the company’s stock worth $282,798,000 after purchasing an additional 1,267,451 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Apogee Therapeutics by 4,018.9% in the 3rd quarter. Janus Henderson Group PLC now owns 469,557 shares of the company’s stock worth $27,586,000 after buying an additional 458,157 shares in the last quarter. Barclays PLC increased its holdings in shares of Apogee Therapeutics by 369.2% in the 3rd quarter. Barclays PLC now owns 365,046 shares of the company’s stock worth $21,443,000 after buying an additional 287,243 shares during the last quarter. Geode Capital Management LLC raised its position in shares of 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 buying an additional 82,978 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Apogee Therapeutics by 17.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 280,428 shares of the company’s stock valued at $16,472,000 after acquiring an additional 41,686 shares during the last quarter. 79.04% of the stock is owned by hedge funds and other institutional investors.

Apogee Therapeutics Trading Down 7.6 %

NASDAQ:APGE opened at $32.32 on Friday. The company has a market cap of $1.46 billion, a price-to-earnings ratio of -13.36 and a beta of 1.72. Apogee Therapeutics, Inc. has a twelve month low of $29.10 and a twelve month high of $63.50. The stock has a fifty day simple moving average of $37.21 and a 200-day simple moving average of $45.45.

Apogee Therapeutics (NASDAQ:APGE) last announced 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). As a group, equities research analysts predict that Apogee Therapeutics, Inc. will post -3.09 EPS for the current fiscal year.

Insider Transactions at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 3,860 shares of Apogee Therapeutics stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $36.22, for a total transaction of $139,809.20. Following the transaction, the insider now directly owns 247,173 shares of the company’s stock, valued at $8,952,606.06. This trade represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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 value of $608,700.00. Following the sale, the chief executive officer now owns 1,302,987 shares of the company’s stock, valued at approximately $52,875,212.46. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,970 shares of company stock valued at $1,974,451. 36.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on APGE shares. Citigroup began coverage on Apogee Therapeutics in a research note on Thursday, March 13th. They set a “buy” rating and a $95.00 price objective on the stock. Wedbush reiterated an “outperform” rating and issued a $90.00 target price on shares of Apogee Therapeutics in a report on Tuesday, March 11th. Finally, Guggenheim restated a “buy” rating on shares of Apogee Therapeutics in a report on Monday, February 10th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Apogee Therapeutics has a consensus rating of “Buy” and a consensus target price of $92.17.

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.