Parkman Healthcare Partners LLC Buys Shares of 85,000 Apogee Therapeutics, Inc. (NASDAQ:APGE)

Parkman Healthcare Partners LLC bought a new position in Apogee Therapeutics, Inc. (NASDAQ:APGE) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 85,000 shares of the company’s stock, valued at approximately $3,850,000. Parkman Healthcare Partners LLC owned 0.19% of Apogee Therapeutics at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Barclays PLC boosted its holdings in Apogee Therapeutics by 369.2% in the third quarter. Barclays PLC now owns 365,046 shares of the company’s stock worth $21,443,000 after purchasing an additional 287,243 shares in the last quarter. JPMorgan Chase & Co. raised its position in Apogee Therapeutics by 4.3% in the third quarter. JPMorgan Chase & Co. now owns 29,555 shares of the company’s stock worth $1,736,000 after purchasing an additional 1,212 shares in the last quarter. SG Americas Securities LLC grew its stake in Apogee Therapeutics by 22.2% during the fourth quarter. SG Americas Securities LLC now owns 9,890 shares of the company’s stock worth $448,000 after buying an additional 1,796 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Apogee Therapeutics by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,547 shares of the company’s stock valued at $432,000 after purchasing an additional 892 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Apogee Therapeutics by 3.4% during the fourth quarter. Rhumbline Advisers now owns 52,720 shares of the company’s stock valued at $2,388,000 after purchasing an additional 1,750 shares during the last quarter. Institutional investors own 79.04% of the company’s stock.

Apogee Therapeutics Stock Performance

Shares of APGE stock opened at $39.74 on Wednesday. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -16.42 and a beta of 1.70. The firm’s 50-day simple moving average is $36.51 and its two-hundred day simple moving average is $41.41. Apogee Therapeutics, Inc. has a 52 week low of $26.20 and a 52 week high of $63.50.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.95) EPS for the quarter, beating the consensus estimate of ($1.19) by $0.24. Analysts forecast that Apogee Therapeutics, Inc. will post -3.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on APGE shares. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price objective on shares of Apogee Therapeutics in a research note on Tuesday, March 11th. Citigroup assumed 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 for the company. Finally, Guggenheim reaffirmed a “buy” rating on shares of Apogee Therapeutics in a report on Monday, February 10th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $94.60.

Insider Activity at Apogee Therapeutics

In related news, CEO Michael Thomas Henderson sold 10,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $30.15, for a total transaction of $301,500.00. Following the sale, the chief executive officer now directly owns 1,292,987 shares of the company’s stock, valued at approximately $38,983,558.05. This represents a 0.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Carl Dambkowski sold 3,860 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $36.22, for a total transaction of $139,809.20. Following the sale, the insider now directly owns 247,173 shares in the company, valued at $8,952,606.06. This trade represents a 1.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,175 shares of company stock worth $587,191 in the last three months. 36.10% of the stock is owned by 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.