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 Apogee Therapeutics stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $74.78, for a total value of $1,495,600.00. Following the sale, the chief executive officer directly owned 1,152,987 shares in the company, valued at approximately $86,220,367.86. This trade represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Michael Thomas Henderson also recently made the following trade(s):

• On Wednesday, February 11th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The shares were sold at an average price of $63.35, for a total value of $1,267,000.00.
• On Wednesday, January 14th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The stock was sold at an average price of $81.11, for a total value of $1,622,200.00.

Apogee Therapeutics Stock Performance

Shares of NASDAQ:APGE traded down $1.61 during trading on Friday, hitting $71.90. 728,707 shares of the stock were exchanged, compared to its average volume of 772,135. Apogee Therapeutics Inc. has a 1-year low of $26.20 and a 1-year high of $84.56. The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of -17.04 and a beta of 1.39. The company’s fifty day simple moving average is $72.21 and its 200-day simple moving average is $61.96.

Apogee Therapeutics (NASDAQ:APGE) last issued its earnings results on Monday, March 2nd. The company reported ($1.03) EPS for the quarter, beating analysts’ consensus estimates of ($1.05) by $0.02. On average, research analysts forecast that Apogee Therapeutics Inc. will post -3.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

APGE has been the subject of a number of analyst reports. Citigroup reaffirmed a “buy” rating on shares of Apogee Therapeutics in a report on Sunday, January 25th. Craig Hallum reissued a “buy” rating and issued a $116.00 target price on shares of Apogee Therapeutics in a research note on Wednesday, January 7th. Jefferies Financial Group reissued a “buy” rating and issued a $95.00 price target on shares of Apogee Therapeutics in a research report on Monday, February 2nd. BTIG Research set a $137.00 price target on shares of Apogee Therapeutics in a research note on Tuesday, January 6th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Apogee Therapeutics in a report on Tuesday, December 9th. They set a “buy” rating and a $103.00 price objective on the stock. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $105.82.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC boosted its stake in shares of Apogee Therapeutics by 2.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 7,151 shares of the company’s stock valued at $540,000 after purchasing an additional 152 shares in the last quarter. Stifel Financial Corp increased its position in shares of Apogee Therapeutics by 3.5% during the 4th quarter. Stifel Financial Corp now owns 5,214 shares of the company’s stock worth $394,000 after purchasing an additional 175 shares in the last quarter. ANTIPODES PARTNERS Ltd lifted its holdings in Apogee Therapeutics by 41.2% during the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company’s stock valued at $33,000 after purchasing an additional 246 shares during the last quarter. Comerica Bank boosted its position in Apogee Therapeutics by 1.0% in the fourth quarter. Comerica Bank now owns 35,872 shares of the company’s stock valued at $2,708,000 after buying an additional 338 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Apogee Therapeutics in the fourth quarter valued at about $37,000. 79.04% of the stock is owned by institutional investors.

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.