Insider Selling: Apogee Therapeutics (NASDAQ:APGE) Insider Sells $3,500,640.00 in Stock

Apogee Therapeutics Inc. (NASDAQ:APGE) insider Carl Dambkowski sold 26,400 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $132.60, for a total transaction of $3,500,640.00. Following the sale, the insider owned 179,248 shares of the company’s stock, valued at $23,768,284.80. This trade represents a 12.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 value of $432,905.00.
• On Wednesday, May 6th, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The shares were sold at an average price of $84.14, for a total value of $462,770.00.
• On Wednesday, April 1st, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The shares were sold at an average price of $84.84, for a total value of $466,620.00.

Apogee Therapeutics Trading Down 0.1%

Apogee Therapeutics stock opened at $132.55 on Friday. Apogee Therapeutics Inc. has a twelve month low of $34.34 and a twelve month high of $133.16. The stock has a 50 day moving average of $89.42 and a two-hundred day moving average of $80.04. The stock has a market capitalization of $8.20 billion, a price-to-earnings ratio of -30.61 and a beta of 0.62.

Apogee Therapeutics (NASDAQ:APGE) last announced its 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. Equities analysts predict that Apogee Therapeutics Inc. will post -4.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on APGE. Deutsche Bank Aktiengesellschaft lowered shares of Apogee Therapeutics from a “buy” rating to a “hold” rating and lifted their price objective for the company from $116.00 to $135.00 in a research report on Monday. Citigroup downgraded shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $125.00 to $135.00 in a research report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Apogee Therapeutics in a research note on Monday, April 20th. Rothschild & Co Redburn started coverage on shares of Apogee Therapeutics in a report on Friday, May 1st. They issued a “buy” rating and a $140.00 target price on the stock. Finally, Truist Financial dropped their price target on shares of Apogee Therapeutics from $83.00 to $81.00 and set a “hold” rating on the stock in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Apogee Therapeutics currently has an average rating of “Hold” and a consensus target price of $121.25.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. TD Asset Management Inc boosted its position in Apogee Therapeutics by 55.3% during the fourth quarter. TD Asset Management Inc now owns 129,290 shares of the company’s stock worth $9,759,000 after purchasing an additional 46,050 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Apogee Therapeutics by 57.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,137,731 shares of the company’s stock worth $45,202,000 after buying an additional 417,161 shares in the last quarter. Rafferty Asset Management LLC grew its stake in Apogee Therapeutics by 55.9% in the 3rd quarter. Rafferty Asset Management LLC now owns 65,796 shares of the company’s stock valued at $2,614,000 after acquiring an additional 23,585 shares during the last quarter. Boxer Capital Management LLC purchased a new position in Apogee Therapeutics during the 3rd quarter valued at about $1,986,000. Finally, HighVista Strategies LLC raised its position in Apogee Therapeutics by 137.7% during the third quarter. HighVista Strategies LLC now owns 107,107 shares of the company’s stock worth $4,255,000 after acquiring an additional 62,055 shares during the last quarter. 79.04% of the stock is owned by hedge funds and other 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.