Apogee Therapeutics (NASDAQ:APGE) Insider Carl Dambkowski Sells 5,500 Shares of Stock

Apogee Therapeutics Inc. (NASDAQ:APGE) insider Carl Dambkowski sold 5,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $78.71, for a total transaction of $432,905.00. Following the sale, the insider owned 205,648 shares of the company’s stock, valued at $16,186,554.08. This represents a 2.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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.
• On Wednesday, April 1st, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The stock was sold at an average price of $84.84, for a total transaction of $466,620.00.

Apogee Therapeutics Price Performance

Shares of NASDAQ APGE opened at $86.92 on Friday. The company has a 50 day simple moving average of $83.96 and a 200-day simple moving average of $76.58. The company has a market capitalization of $5.38 billion, a P/E ratio of -20.07 and a beta of 0.62. Apogee Therapeutics Inc. has a 1 year low of $34.34 and a 1 year high of $95.32.

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, topping analysts’ consensus estimates of ($1.07) by $0.01. As a group, research analysts expect that Apogee Therapeutics Inc. will post -4.45 EPS for the current year.

Institutional Trading of Apogee Therapeutics

Several institutional investors have recently added to or reduced their stakes in APGE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 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 valued at $921,000 after buying an additional 694 shares during the period. Millennium Management LLC boosted its position in Apogee Therapeutics by 100.0% in the 1st quarter. Millennium Management LLC now owns 260,335 shares of the company’s stock valued at $9,726,000 after buying an additional 130,164 shares during the period. Creative Planning purchased a new position in Apogee Therapeutics in the 2nd quarter valued at approximately $392,000. Legal & General Group Plc boosted its position in Apogee Therapeutics by 7.4% in the 2nd 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 period. Finally, Russell Investments Group Ltd. boosted its position in Apogee Therapeutics by 10,570.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 21,768 shares of the company’s stock valued at $945,000 after buying an additional 21,564 shares during the period. Institutional investors and hedge funds own 79.04% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on APGE. Citigroup raised their price target on shares of Apogee Therapeutics from $95.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Apogee Therapeutics in a report on Monday, April 20th. BTIG Research restated a “buy” rating and set a $137.00 price target on shares of Apogee Therapeutics in a report on Wednesday, May 27th. Wedbush lifted their target price on shares of Apogee Therapeutics from $120.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Finally, Truist Financial dropped their target price on shares of Apogee Therapeutics from $83.00 to $81.00 and set a “hold” rating for the company in a report on Wednesday, May 27th. 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $113.63.

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.