Insider Selling: Apogee Therapeutics (NASDAQ:APGE) Insider Sells $432,905.00 in Stock

Apogee Therapeutics Inc. (NASDAQ:APGE) insider Carl Dambkowski sold 5,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $78.71, for a total transaction of $432,905.00. Following the completion of the transaction, the insider owned 205,648 shares in the company, valued at approximately $16,186,554.08. This trade represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carl Dambkowski also recently made the following trade(s):

• On Wednesday, May 6th, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The stock was sold at an average price of $84.14, for a total transaction of $462,770.00.
• On Wednesday, April 1st, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The stock was sold at an average price of $84.84, for a total transaction of $466,620.00.

Apogee Therapeutics Stock Performance

APGE stock opened at $86.92 on Monday. The company’s 50 day moving average is $83.96 and its 200 day moving average is $76.67. The stock has a market cap of $5.38 billion, a price-to-earnings ratio of -20.07 and a beta of 0.62. Apogee Therapeutics Inc. has a 1-year low of $34.34 and a 1-year high of $95.32.

Apogee Therapeutics (NASDAQ:APGE) last posted its quarterly earnings data on Monday, May 11th. The company reported ($1.06) earnings per share for the quarter, topping the consensus estimate of ($1.07) by $0.01. As a group, sell-side analysts forecast that Apogee Therapeutics Inc. will post -4.45 EPS for the current fiscal year.

Institutional Trading of Apogee Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC boosted its stake in shares of Apogee Therapeutics by 2.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 7,151 shares of the company’s stock valued at $540,000 after purchasing an additional 152 shares during the period. Seven Fleet Capital Management LP boosted its stake in shares of Apogee Therapeutics by 9.4% during the first quarter. Seven Fleet Capital Management LP now owns 1,969 shares of the company’s stock valued at $166,000 after purchasing an additional 169 shares during the period. Stifel Financial Corp boosted its stake in shares of Apogee Therapeutics by 3.5% during the fourth quarter. Stifel Financial Corp now owns 5,214 shares of the company’s stock valued at $394,000 after purchasing an additional 175 shares during the period. ANTIPODES PARTNERS Ltd boosted its stake in shares of Apogee Therapeutics by 41.2% during the third quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company’s stock valued at $33,000 after purchasing an additional 246 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in Apogee Therapeutics by 61.7% in the first quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company’s stock worth $54,000 after acquiring an additional 246 shares during the period. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on APGE shares. BTIG Research reiterated a “buy” rating and set a $137.00 price target on shares of Apogee Therapeutics in a research report on Wednesday, May 27th. Citigroup increased their price target on shares of Apogee Therapeutics from $95.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Royal Bank Of Canada reduced their price target on shares of Apogee Therapeutics from $83.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Monday, March 2nd. Truist Financial reduced their price target on shares of Apogee Therapeutics from $83.00 to $81.00 and set a “hold” rating on the stock in a research report on Wednesday, May 27th. Finally, Wedbush increased their price target on shares of Apogee Therapeutics from $120.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $113.63.

About Apogee Therapeutics

Apogee Therapeutics, Inc is a clinical-stage biotechnology company dedicated to the discovery and development of novel small molecule therapeutics that selectively target the nuclear receptor RORγt, a master regulator of T cell-driven inflammatory pathways. By modulating RORγt activity, Apogee aims to offer an oral treatment option for patients with autoimmune and inflammatory skin disorders.

The company’s lead candidate, APG-157, is an oral RORγt inverse agonist currently undergoing early-stage clinical evaluation for moderate to severe plaque psoriasis.