Apogee Therapeutics (NASDAQ:APGE) CEO Sells $10,603,200.00 in Stock

Apogee Therapeutics Inc. (NASDAQ:APGE) CEO Michael Thomas Henderson sold 80,000 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $132.54, for a total value of $10,603,200.00. Following the transaction, the chief executive officer owned 1,015,987 shares in the company, valued at $134,658,916.98. The trade was a 7.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 Wednesday, June 10th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The shares were 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 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 shares were sold at an average price of $82.58, for a total transaction of $1,651,600.00.

Apogee Therapeutics Stock Down 0.1%

Shares of NASDAQ APGE opened at $132.55 on Friday. The firm has a market cap of $8.20 billion, a PE ratio of -30.61 and a beta of 0.62. The company’s fifty day simple moving average is $89.42 and its 200 day simple moving average is $80.04. Apogee Therapeutics Inc. has a 12-month low of $34.34 and a 12-month high of $133.16.

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, beating the consensus estimate of ($1.07) by $0.01. On average, equities analysts predict that Apogee Therapeutics Inc. will post -4.45 earnings per share for the current year.

Hedge Funds Weigh In On Apogee Therapeutics

A number of hedge funds have recently added to or reduced their stakes in APGE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Apogee Therapeutics by 2.9% during the 1st 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 in the last quarter. Millennium Management LLC lifted its holdings in shares of Apogee Therapeutics by 100.0% in the first 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 purchased a new position in shares of Apogee Therapeutics during the second quarter valued at approximately $392,000. Legal & General Group Plc boosted its position in shares of Apogee Therapeutics by 7.4% during the second quarter. Legal & General Group Plc now owns 27,689 shares of the company’s stock valued at $1,203,000 after buying an additional 1,907 shares during the last quarter. Finally, Russell Investments Group Ltd. grew 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 buying an additional 21,564 shares in the last quarter. Institutional investors and hedge funds own 79.04% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on APGE. Craig Hallum set a $135.11 price target on Apogee Therapeutics and gave the stock a “hold” rating in a report on Monday. Guggenheim downgraded Apogee Therapeutics from a “buy” rating to a “neutral” rating in a report on Tuesday. The Goldman Sachs Group set a $89.00 target price on Apogee Therapeutics in a research report on Thursday, May 28th. BTIG Research reiterated a “buy” rating and issued a $137.00 target price on shares of Apogee Therapeutics in a report on Wednesday, May 27th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Apogee Therapeutics in a research report on Monday, April 20th. 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 given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.