Insider Selling: Apogee Therapeutics (NASDAQ:APGE) CEO Sells $1,667,600.00 in Stock

Apogee Therapeutics Inc. (NASDAQ:APGE) CEO Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $83.38, for a total value of $1,667,600.00. Following the sale, the chief executive officer directly owned 1,095,987 shares of the company’s stock, valued at $91,383,396.06. This trade represents a 1.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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, 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 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 Price Performance

Apogee Therapeutics stock opened at $88.33 on Monday. Apogee Therapeutics Inc. has a 52 week low of $34.34 and a 52 week high of $95.32. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of -20.40 and a beta of 0.62. The stock has a 50-day moving average price of $84.47 and a 200 day moving average price of $77.39.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on APGE. Citigroup boosted their price target on Apogee Therapeutics from $95.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Royal Bank Of Canada boosted their price target on Apogee Therapeutics from $82.00 to $97.00 and gave the company a “sector perform” rating in a report on Monday, June 8th. Truist Financial decreased their price target on Apogee Therapeutics from $83.00 to $81.00 and set a “hold” rating for the company in a report on Wednesday, May 27th. Guggenheim boosted their price target on Apogee Therapeutics from $130.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Finally, BTIG Research reissued a “buy” rating and issued a $137.00 price target on shares of Apogee Therapeutics in a report on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Apogee Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $114.56.

Institutional Trading of Apogee Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Rockefeller Capital Management L.P. purchased a new stake in shares of Apogee Therapeutics in the fourth quarter valued at approximately $25,000. Los Angeles Capital Management LLC purchased a new stake in shares of Apogee Therapeutics in the fourth quarter valued at approximately $37,000. EverSource Wealth Advisors LLC increased its position in shares of Apogee Therapeutics by 61.7% in the first quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company’s stock valued at $54,000 after buying an additional 246 shares in the last quarter. ANTIPODES PARTNERS Ltd increased its position in shares of Apogee Therapeutics by 41.2% in the third quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company’s stock valued at $33,000 after buying an additional 246 shares in the last quarter. Finally, Seven Fleet Capital Management LP purchased a new stake in shares of Apogee Therapeutics in the fourth quarter valued at approximately $136,000. 79.04% of the stock is currently owned by hedge funds and other institutional investors.

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.