Apogee Therapeutics (NASDAQ:APGE) Insider Sells $730,070.00 in Stock

Apogee Therapeutics Inc. (NASDAQ:APGE) insider Carl Dambkowski sold 5,500 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $132.74, for a total transaction of $730,070.00. Following the transaction, the insider owned 177,873 shares of the company’s stock, valued at $23,610,862.02. This represents a 3.00% decrease in their ownership of the stock. The transaction 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.

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

• On Monday, June 22nd, Carl Dambkowski sold 26,400 shares of Apogee Therapeutics stock. The shares were sold at an average price of $132.60, for a total transaction of $3,500,640.00.
• On Wednesday, June 3rd, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The shares were sold at an average price of $78.71, for a total transaction of $432,905.00.
• 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.

Apogee Therapeutics Price Performance

APGE opened at $132.91 on Friday. Apogee Therapeutics Inc. has a twelve month low of $34.34 and a twelve month high of $133.85. The company has a 50-day moving average price of $93.59 and a 200 day moving average price of $82.02. The company has a market cap of $8.23 billion, a PE ratio of -30.70 and a beta of 0.32.

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. As a group, sell-side analysts expect that Apogee Therapeutics Inc. will post -4.45 earnings per share for the current year.

Institutional Investors Weigh In On Apogee Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. purchased a new position in Apogee Therapeutics during the fourth quarter worth approximately $25,000. Los Angeles Capital Management LLC purchased a new stake in Apogee Therapeutics in the 4th quarter valued at $37,000. EverSource Wealth Advisors LLC grew its holdings in Apogee Therapeutics by 61.7% in the 1st 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. Seven Fleet Capital Management LP acquired a new stake in shares of Apogee Therapeutics in the 4th quarter worth $136,000. Finally, Ensign Peak Advisors Inc acquired a new stake in shares of Apogee Therapeutics in the 4th quarter worth $170,000. Institutional investors and hedge funds own 79.04% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Guggenheim lowered Apogee Therapeutics from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft lowered Apogee Therapeutics from a “buy” rating to a “hold” rating and raised their price objective for the company from $116.00 to $135.00 in a report on Monday, June 22nd. BTIG Research reaffirmed a “buy” rating and set a $137.00 target price on shares of Apogee Therapeutics in a research note on Wednesday, May 27th. TD Cowen lowered shares of Apogee Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Finally, Wedbush cut shares of Apogee Therapeutics from an “outperform” rating to a “neutral” rating and set a $135.00 target price for the company. in a research report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Apogee Therapeutics has a consensus rating of “Hold” and a consensus target price of $121.25.

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.