Insider Selling: Apogee Therapeutics (NASDAQ:APGE) CEO Sells $2,672,600.00 in Stock

Apogee Therapeutics Inc. (NASDAQ:APGE) CEO Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $133.63, for a total value of $2,672,600.00. Following the completion of the transaction, the chief executive officer directly owned 995,987 shares in the company, valued at approximately $133,093,742.81. This represents a 1.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Monday, June 22nd, Michael Thomas Henderson sold 80,000 shares of Apogee Therapeutics stock. The shares were sold at an average price of $132.54, for a total value of $10,603,200.00.
• On Wednesday, June 10th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The stock was sold at an average price of $83.38, for a total transaction of $1,667,600.00.
• On Wednesday, May 13th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The stock was sold at an average price of $82.09, for a total transaction of $1,641,800.00.

Apogee Therapeutics Stock Performance

Shares of APGE stock opened at $133.65 on Monday. The firm has a market capitalization of $8.27 billion, a P/E ratio of -30.87 and a beta of 0.32. Apogee Therapeutics Inc. has a 1 year low of $34.34 and a 1 year high of $133.87. The firm’s fifty day simple moving average is $98.39 and its 200 day simple moving average is $84.05.

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. Equities research analysts anticipate that Apogee Therapeutics Inc. will post -4.45 EPS for the current fiscal year.

Analysts Set New Price Targets

APGE has been the topic of a number of recent research reports. Rothschild & Co Redburn initiated coverage on Apogee Therapeutics in a research report on Friday, May 1st. They set a “buy” rating and a $140.00 target price on the stock. Truist Financial reduced their price objective on Apogee Therapeutics from $83.00 to $81.00 and set a “hold” rating for the company in a research report on Wednesday, May 27th. Guggenheim lowered Apogee Therapeutics from a “buy” rating to a “neutral” rating in a report on Tuesday, June 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Apogee Therapeutics in a research report on Monday, April 20th. Finally, BTIG Research restated a “buy” rating and issued a $137.00 target price on shares of Apogee Therapeutics in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Apogee Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $121.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. acquired a new stake in Apogee Therapeutics during the fourth quarter valued at approximately $25,000. Los Angeles Capital Management LLC acquired a new position in shares of Apogee Therapeutics in the 4th quarter worth approximately $37,000. GAMMA Investing LLC raised its holdings in shares of Apogee Therapeutics by 40.5% in the 2nd quarter. GAMMA Investing LLC now owns 309 shares of the company’s stock worth $41,000 after buying an additional 89 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Apogee Therapeutics by 61.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company’s stock worth $54,000 after buying an additional 246 shares during the period. Finally, Quantbot Technologies LP bought a new position in shares of Apogee Therapeutics during the 3rd quarter worth approximately $96,000. Institutional investors own 79.04% of the company’s stock.

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.