Michael Thomas Henderson Sells 80,000 Shares of Apogee Therapeutics (NASDAQ:APGE) Stock

Apogee Therapeutics Inc. (NASDAQ:APGE) CEO Michael Thomas Henderson sold 80,000 shares of Apogee Therapeutics stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $132.54, for a total value of $10,603,200.00. Following the transaction, the chief executive officer owned 1,015,987 shares in the company, valued at approximately $134,658,916.98. This trade represents a 7.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Thomas Henderson also recently made the following trade(s):

• On Wednesday, June 10th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The shares were sold at an average price of $83.38, for a total value of $1,667,600.00.
• On Wednesday, May 13th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The shares were sold at an average price of $82.09, for a total value of $1,641,800.00.
• On Wednesday, April 8th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The stock was sold at an average price of $82.58, for a total value of $1,651,600.00.

Apogee Therapeutics Stock Down 0.0%

NASDAQ:APGE opened at $132.68 on Friday. The business’s 50-day moving average price is $88.55 and its 200 day moving average price is $79.67. Apogee Therapeutics Inc. has a 52-week low of $34.34 and a 52-week high of $133.16. The firm has a market cap of $8.21 billion, a P/E ratio of -30.64 and a beta of 0.62.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings results on Monday, May 11th. The company reported ($1.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.01. Sell-side analysts expect that Apogee Therapeutics Inc. will post -4.45 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on APGE shares. Truist Financial dropped their price target on Apogee Therapeutics from $83.00 to $81.00 and set a “hold” rating on the stock in a report on Wednesday, May 27th. Rothschild & Co Redburn initiated coverage on Apogee Therapeutics in a report on Friday, May 1st. They issued a “buy” rating and a $140.00 target price on the stock. BTIG Research reaffirmed a “buy” rating and set a $137.00 target price on shares of Apogee Therapeutics in a research report on Wednesday, May 27th. The Goldman Sachs Group set a $89.00 target price on Apogee Therapeutics in a report on Thursday, May 28th. Finally, Wedbush downgraded shares of Apogee Therapeutics from an “outperform” rating to a “neutral” rating and set a $135.00 price target for the company. in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $121.25.

Institutional Trading of Apogee Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Apogee Therapeutics by 189,522.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,732,456 shares of the company’s stock worth $206,246,000 after purchasing an additional 2,731,015 shares during the period. Janus Henderson Group PLC increased its stake in Apogee Therapeutics by 324.4% in the 4th quarter. Janus Henderson Group PLC now owns 2,062,604 shares of the company’s stock valued at $155,697,000 after buying an additional 1,576,626 shares during the period. Perceptive Advisors LLC increased its stake in Apogee Therapeutics by 72.4% in the 4th quarter. Perceptive Advisors LLC now owns 2,330,651 shares of the company’s stock valued at $175,918,000 after buying an additional 978,662 shares during the period. Wellington Management Group LLP lifted its position in Apogee Therapeutics by 24.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,723,701 shares of the company’s stock worth $187,673,000 after buying an additional 917,991 shares in the last quarter. Finally, UBS Group AG lifted its position in Apogee Therapeutics by 646.1% in the 3rd quarter. UBS Group AG now owns 799,465 shares of the company’s stock worth $31,763,000 after buying an additional 692,308 shares in the last quarter. 79.04% of the stock is owned by hedge funds and other institutional investors.

Apogee Therapeutics News Roundup

Here are the key news stories impacting Apogee Therapeutics this week:

• Positive Sentiment: Apogee’s proposed sale to AbbVie for $135.11 per share continues to anchor the stock near deal value and provides clear upside support for investors. Article Title
• Neutral Sentiment: Stifel kept a hold rating and raised its price target to $135, signaling the shares are already trading close to fair value under the transaction terms. Article Title
• Neutral Sentiment: Mizuho downgraded APGE to hold but lifted its target to $135, reflecting limited additional upside beyond the deal price. Article Title
• Neutral Sentiment: Short-interest data showed no meaningful change in bearish positioning, offering little new signal for traders. Article Title
• Negative Sentiment: Insider sales by CEO Michael Henderson and insider Carl Dambkowski may add some pressure, even though both transactions were made under pre-arranged 10b5-1 plans. Article Title
• Negative Sentiment: A law firm launched an investigation into whether the proposed sale price and process were adequate, creating a legal overhang that could complicate the deal. Article Title

Apogee Therapeutics Company Profile

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.