Apogee Therapeutics (NASDAQ:APGE) CEO Michael Thomas Henderson Sells 20,000 Shares

Apogee Therapeutics Inc. (NASDAQ:APGE) CEO Michael Thomas Henderson sold 20,000 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $133.63, for a total transaction of $2,672,600.00. Following the completion of the sale, the chief executive officer owned 995,987 shares of the company’s stock, valued at approximately $133,093,742.81. This represents a 1.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 Monday, June 22nd, Michael Thomas Henderson sold 80,000 shares of Apogee Therapeutics stock. The stock was sold at an average price of $132.54, for a total value of $10,603,200.00.
• 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 value 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 value of $1,641,800.00.

Apogee Therapeutics Stock Up 0.1%

Apogee Therapeutics stock traded up $0.08 during mid-day trading on Friday, reaching $133.65. 787,802 shares of the company’s stock were exchanged, compared to its average volume of 5,990,803. The business’s fifty day simple moving average is $98.39 and its 200 day simple moving average is $84.01. The firm has a market capitalization of $8.27 billion, a PE ratio of -30.87 and a beta of 0.32. Apogee Therapeutics Inc. has a one year low of $34.34 and a one year high of $133.87.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on APGE shares. TD Cowen downgraded shares of Apogee Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. UBS Group cut shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $100.00 to $135.11 in a report on Tuesday, June 23rd. Rothschild & Co Redburn initiated coverage on Apogee Therapeutics in a research note on Friday, May 1st. They set a “buy” rating and a $140.00 price target for the company. Royal Bank Of Canada upped their price target on shares of Apogee Therapeutics from $82.00 to $97.00 and gave the company a “sector perform” rating in a research note on Monday, June 8th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $135.00 price objective (up from $133.00) on shares of Apogee Therapeutics in a research note on Wednesday, June 24th. One research 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $121.25.

Hedge Funds Weigh In On Apogee Therapeutics

Several hedge funds have recently bought and sold shares of the company. TD Asset Management Inc increased its holdings in shares of Apogee Therapeutics by 55.3% in the 4th quarter. TD Asset Management Inc now owns 129,290 shares of the company’s stock worth $9,759,000 after buying an additional 46,050 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Apogee Therapeutics by 57.9% during the third quarter. JPMorgan Chase & Co. now owns 1,137,731 shares of the company’s stock worth $45,202,000 after purchasing an additional 417,161 shares during the last quarter. Boxer Capital Management LLC bought a new stake in Apogee Therapeutics during the third quarter worth about $1,986,000. HighVista Strategies LLC boosted its holdings in shares of Apogee Therapeutics by 137.7% in the 3rd quarter. HighVista Strategies LLC now owns 107,107 shares of the company’s stock worth $4,255,000 after purchasing an additional 62,055 shares in the last quarter. Finally, Banque Pictet & Cie SA purchased a new position in shares of Apogee Therapeutics in the 4th quarter worth about $3,155,000. Hedge funds and other institutional investors own 79.04% of the company’s stock.

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.