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 on Wednesday, June 10th. The shares were sold at an average price of $83.38, for a total transaction of $1,667,600.00. Following the transaction, the chief executive officer directly owned 1,095,987 shares in the company, valued at approximately $91,383,396.06. The trade was a 1.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 shares were sold at an average price of $82.09, for a total transaction 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 transaction of $1,651,600.00.

Apogee Therapeutics Price Performance

APGE traded down $1.17 on Friday, hitting $88.33. The company had a trading volume of 1,302,746 shares, compared to its average volume of 969,045. The stock has a fifty day simple moving average of $84.39 and a 200-day simple moving average of $77.25. The firm has a market capitalization of $5.47 billion, a P/E ratio of -20.40 and a beta of 0.62. Apogee Therapeutics Inc. has a 52-week low of $34.34 and a 52-week high of $95.32.

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

Analysts Set New Price Targets

Several equities analysts have commented on APGE shares. Citigroup raised their price objective on Apogee Therapeutics from $95.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Truist Financial decreased their price target on shares of Apogee Therapeutics from $83.00 to $81.00 and set a “hold” rating for the company in a research note on Wednesday, May 27th. Mizuho increased their price target on shares of Apogee Therapeutics from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. Guggenheim increased their price target on shares of Apogee Therapeutics from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Apogee Therapeutics in a research note on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $114.56.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of APGE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Apogee Therapeutics by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,529 shares of the company’s stock worth $921,000 after acquiring an additional 694 shares in the last quarter. Millennium Management LLC increased its stake in Apogee Therapeutics by 100.0% during the 1st quarter. Millennium Management LLC now owns 260,335 shares of the company’s stock valued at $9,726,000 after purchasing an additional 130,164 shares in the last quarter. Creative Planning bought a new stake in Apogee Therapeutics during the 2nd quarter valued at about $392,000. Legal & General Group Plc increased its stake in Apogee Therapeutics by 7.4% during the 2nd quarter. Legal & General Group Plc now owns 27,689 shares of the company’s stock valued at $1,203,000 after purchasing an additional 1,907 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Apogee Therapeutics by 10,570.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 21,768 shares of the company’s stock valued at $945,000 after purchasing an additional 21,564 shares in the last quarter. 79.04% of the stock is currently owned by institutional investors.

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.