Diadema Partners LP Makes New Investment in Apogee Therapeutics, Inc. (NASDAQ:APGE)

Diadema Partners LP purchased a new position in shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 50,620 shares of the company’s stock, valued at approximately $2,293,000. Apogee Therapeutics comprises approximately 1.0% of Diadema Partners LP’s investment portfolio, making the stock its 21st largest holding. Diadema Partners LP owned about 0.11% of Apogee Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of APGE. Geode Capital Management LLC lifted its stake in Apogee Therapeutics by 11.2% in the third 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 during the last quarter. Barclays PLC boosted its position in shares of Apogee Therapeutics by 369.2% during the 3rd quarter. Barclays PLC now owns 365,046 shares of the company’s stock valued at $21,443,000 after purchasing an additional 287,243 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Apogee Therapeutics by 22.2% in the 4th quarter. SG Americas Securities LLC now owns 9,890 shares of the company’s stock worth $448,000 after purchasing an additional 1,796 shares during the last quarter. Swiss National Bank increased its holdings in shares of Apogee Therapeutics by 17.5% in the fourth quarter. Swiss National Bank now owns 44,300 shares of the company’s stock valued at $2,007,000 after buying an additional 6,600 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Apogee Therapeutics by 4.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 29,555 shares of the company’s stock worth $1,736,000 after acquiring an additional 1,212 shares in the last quarter. 79.04% of the stock is owned by institutional investors.

Apogee Therapeutics Price Performance

Shares of APGE stock opened at $32.85 on Tuesday. The firm has a market cap of $1.48 billion, a P/E ratio of -13.57 and a beta of 1.72. Apogee Therapeutics, Inc. has a fifty-two week low of $26.20 and a fifty-two week high of $63.50. The stock’s 50-day moving average is $35.12 and its two-hundred day moving average is $43.17.

Apogee Therapeutics (NASDAQ:APGE) last posted 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, research analysts expect that Apogee Therapeutics, Inc. will post -3.09 EPS for the current year.

Analyst Ratings Changes

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

Insider Buying and Selling at Apogee Therapeutics

In other news, insider Carl Dambkowski sold 3,520 shares of Apogee Therapeutics stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $40.69, for a total value of $143,228.80. Following the transaction, the insider now owns 252,623 shares of the company’s stock, valued at $10,279,229.87. This trade represents a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Thomas Henderson sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $30.15, for a total transaction of $301,500.00. Following the completion of the transaction, the chief executive officer now owns 1,292,987 shares in the company, valued at $38,983,558.05. The trade was a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,970 shares of company stock worth $1,241,701 over the last three months. Corporate insiders own 36.10% of the company’s stock.

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.