Alliancebernstein L.P. Reduces $14M in Apogee Therapeutics, Inc. ($APGE)
The firm trimmed its holdings by 103,360 shares, reflecting a 9.5% decrease.
Key Points
- Alliancebernstein trimmed its stake in Apogee Therapeutics by 103,360 shares, a 9.5% decrease, leaving it with 990,297 shares valued at $131.3 million.
- Apogee Therapeutics, trading at $132.55 on Tuesday, has a market cap of $9.99 billion but no meaningful P/E ratio due to unprofitability.
- Analysts have set varied price targets, with Canaccord Genuity recently downgrading the stock to 'hold' with a $135.11 target.
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Alliancebernstein L.P. has reduced its holdings in Apogee Therapeutics, Inc. (NasdaqGM: APGE), according to its latest filing with the SEC. The firm sold 103,360 shares, a 9.5% decrease, leaving it with 990,297 shares valued at approximately $131.3 million as of the reporting period.
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What Changed in Alliancebernstein's Apogee Therapeutics Position
Alliancebernstein trimmed its position in Apogee Therapeutics by 9.5%, decreasing its holdings from 1,093,657 shares to 990,297 shares. This reduction reflects a notable adjustment in the firm's investment, with the shares valued at about $131.3 million.
Other Institutional Activity in Apogee Therapeutics
Other institutional investors have been active in Apogee Therapeutics. T. Rowe Price Investment Management significantly increased its stake by 7,568,528 shares, ending with 10,300,984 shares worth roughly $867.0 million. FMR LLC also boosted its holdings by 1,037,253 shares to a total of 9,262,291 shares, valued at $779.6 million. Meanwhile, Wellington Management Group reduced its position by 370,882 shares, holding 4,375,703 shares valued at $368.3 million. BlackRock, Inc. added 301,657 shares, bringing its total to 4,085,651 shares valued at $343.9 million.
Apogee Therapeutics, Inc. Stock Down 1.7%
Shares of Apogee Therapeutics traded near $132.55 on Tuesday. The company has a market cap of approximately $9.99 billion. Despite its size, Apogee doesn't have a meaningful P/E ratio due to its unprofitability, with a forward P/E of -25.52. The stock has a 52-week low of $34.34 and a high of $133.00, with a 50-day moving average of $84.76 and a 200-day moving average of $69.38. Apogee maintains a strong liquidity position with a current ratio of 32.59 and a quick ratio of 32.39, alongside a debt-to-equity ratio of 0.64.
$APGE stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
Apogee Therapeutics is currently unprofitable, with an EPS of -$4.33. The company has a net margin of 0% and a return on equity of -28.47%. Investors will be watching for its next earnings report scheduled for August 10, 2026.
Insider Buying and Selling at Apogee Therapeutics, Inc.
Recent insider activities at Apogee Therapeutics include a planned sale by CEO Michael Thomas Henderson, who sold 20,000 shares on June 10, 2026. Additionally, several insiders, including Mark McKenna and William Jones Jr., purchased 7,657 shares each on June 9, 2026.
Analysts Set New Price Targets
On June 22, 2026, Canaccord Genuity downgraded Apogee Therapeutics to a 'hold' rating with a price target of $135.11. Previously, RBC Capital maintained a 'hold' rating with a $97.00 target on June 8, 2026. The consensus among analysts is a 'strong buy', with an average target price of $119.50 based on 16 opinions.
About Apogee Therapeutics
Apogee Therapeutics, Inc., based in Waltham, Massachusetts, is a biotechnology company specializing in developing novel biologics for inflammatory and immunology-related conditions. Founded in 2022, the company is led by CEO Dr. Michael Thomas Henderson and employs 261 people. Apogee is focused on treatments for conditions like atopic dermatitis and asthma, with several products in various stages of clinical trials.
Bottom Line
Alliancebernstein's recent trimming of its Apogee Therapeutics stake reflects a strategic adjustment in its portfolio. Investors closely monitor such filings for insights into institutional sentiment, though it's important to remember that these filings are backward-looking and may not represent current positions. Apogee's ongoing clinical trials and analyst ratings will be key areas of focus for stakeholders.
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