TD Asset Management Inc Reduces Stock Holdings in Apogee Therapeutics Inc. (NASDAQ:APGE)

TD Asset Management Inc decreased its position in Apogee Therapeutics Inc. (NASDAQ:APGE) by 19.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 101,388 shares of the company’s stock after selling 25,058 shares during the period. TD Asset Management Inc owned about 0.23% of Apogee Therapeutics worth $3,788,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in APGE. Commonwealth Equity Services LLC purchased a new stake in shares of Apogee Therapeutics during the fourth quarter worth $222,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Apogee Therapeutics during the fourth quarter worth $226,000. JPMorgan Chase & Co. lifted its position in shares of Apogee Therapeutics by 26.1% during the fourth quarter. JPMorgan Chase & Co. now owns 37,255 shares of the company’s stock worth $1,688,000 after acquiring an additional 7,700 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Apogee Therapeutics by 13.5% during the fourth quarter. Alliancebernstein L.P. now owns 1,355,185 shares of the company’s stock worth $61,390,000 after acquiring an additional 160,822 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Apogee Therapeutics by 0.6% during the fourth quarter. Franklin Resources Inc. now owns 866,188 shares of the company’s stock worth $39,238,000 after acquiring an additional 5,199 shares in the last quarter. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Insider Buying and Selling at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 10,090 shares of the firm’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $45.09, for a total transaction of $454,958.10. Following the completion of the transaction, the insider owned 238,998 shares of the company’s stock, valued at approximately $10,776,419.82. This trade represents a 4.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 15,540 shares of company stock worth $653,093 over the last ninety days. 42.77% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Citigroup restated a “buy” rating on shares of Apogee Therapeutics in a research report on Monday, July 7th. Guggenheim reissued a “buy” rating and issued a $116.00 target price on shares of Apogee Therapeutics in a research note on Wednesday, July 2nd. Wedbush reissued an “outperform” rating and issued a $90.00 target price on shares of Apogee Therapeutics in a research note on Monday, July 7th. Finally, BTIG Research increased their target price on Apogee Therapeutics from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, July 7th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Apogee Therapeutics has a consensus rating of “Buy” and an average target price of $99.00.

Apogee Therapeutics Price Performance

Shares of APGE opened at $37.75 on Friday. Apogee Therapeutics Inc. has a one year low of $26.20 and a one year high of $63.50. The company has a 50-day simple moving average of $40.25 and a two-hundred day simple moving average of $38.08. The firm has a market capitalization of $1.74 billion, a PE ratio of -10.49 and a beta of 1.44.

Apogee Therapeutics (NASDAQ:APGE) last announced its earnings results on Monday, May 12th. The company reported ($0.95) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.19) by $0.24. 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.