Insider Selling: Apogee Therapeutics (NASDAQ:APGE) CEO Sells 20,000 Shares of Stock

Apogee Therapeutics Inc. (NASDAQ:APGE) CEO Michael Thomas Henderson sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $82.09, for a total transaction of $1,641,800.00. Following the sale, the chief executive officer directly owned 1,115,987 shares of the company’s stock, valued at approximately $91,611,372.83. This trade represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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, 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 transaction of $1,651,600.00.
• On Wednesday, March 11th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The stock was sold at an average price of $74.78, for a total transaction of $1,495,600.00.

Apogee Therapeutics Trading Down 3.3%

Shares of APGE traded down $2.77 on Friday, reaching $81.14. 714,815 shares of the company’s stock were exchanged, compared to its average volume of 629,669. The stock has a market capitalization of $5.02 billion, a P/E ratio of -18.74 and a beta of 0.69. The business has a 50 day moving average price of $81.24 and a two-hundred day moving average price of $74.08. Apogee Therapeutics Inc. has a 12 month low of $34.34 and a 12 month high of $95.32.

Apogee Therapeutics (NASDAQ:APGE) last posted its quarterly earnings results on Monday, May 11th. The company reported ($1.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.01. Equities research analysts predict that Apogee Therapeutics Inc. will post -4.44 EPS for the current year.

Institutional Investors Weigh In On Apogee Therapeutics

Several large investors have recently made changes to their positions in APGE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Apogee Therapeutics by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,529 shares of the company’s stock worth $921,000 after purchasing an additional 694 shares during the last quarter. Millennium Management LLC boosted its holdings in Apogee Therapeutics by 100.0% during the first quarter. Millennium Management LLC now owns 260,335 shares of the company’s stock worth $9,726,000 after purchasing an additional 130,164 shares during the last quarter. Creative Planning acquired a new position in Apogee Therapeutics during the second quarter worth $392,000. Legal & General Group Plc boosted its holdings in Apogee Therapeutics by 7.4% during the second quarter. Legal & General Group Plc now owns 27,689 shares of the company’s stock worth $1,203,000 after purchasing an additional 1,907 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Apogee Therapeutics by 10,570.6% during the second quarter. Russell Investments Group Ltd. now owns 21,768 shares of the company’s stock worth $945,000 after purchasing an additional 21,564 shares during the last quarter. Institutional investors own 79.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. BTIG Research restated a “buy” rating and set a $137.00 price objective on shares of Apogee Therapeutics in a report on Monday, March 23rd. Mizuho boosted their price objective on shares of Apogee Therapeutics from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, March 30th. Wedbush boosted their price objective on shares of Apogee Therapeutics from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, March 3rd. Canaccord Genuity Group boosted their price objective on shares of Apogee Therapeutics from $89.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Apogee Therapeutics in a report on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $112.73.

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.