Insider Selling: Apogee Therapeutics, Inc. (NASDAQ:APGE) CEO Sells 15,000 Shares of Stock

Apogee Therapeutics, Inc. (NASDAQ:APGE) CEO Michael Thomas Henderson sold 15,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $40.58, for a total value of $608,700.00. Following the sale, the chief executive officer now directly owns 1,302,987 shares of the company’s stock, valued at $52,875,212.46. The trade was a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, January 8th, Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock. The stock was sold at an average price of $48.85, for a total value of $732,750.00.
• On Wednesday, December 4th, Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock. The shares were sold at an average price of $46.58, for a total transaction of $698,700.00.

Apogee Therapeutics Stock Performance

APGE traded down $1.92 on Friday, hitting $39.72. 385,519 shares of the company were exchanged, compared to its average volume of 506,977. The business’s fifty day moving average is $44.25 and its 200 day moving average is $48.53. Apogee Therapeutics, Inc. has a fifty-two week low of $33.14 and a fifty-two week high of $72.29. The firm has a market capitalization of $1.79 billion, a P/E ratio of -16.41 and a beta of 2.18.

Apogee Therapeutics (NASDAQ:APGE) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.13). Analysts forecast that Apogee Therapeutics, Inc. will post -3.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in APGE. Wellington Management Group LLP grew its stake in Apogee Therapeutics by 35.7% in the 3rd quarter. Wellington Management Group LLP now owns 4,814,400 shares of the company’s stock valued at $282,798,000 after acquiring an additional 1,267,451 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Apogee Therapeutics by 11.2% in the third quarter. Geode Capital Management LLC now owns 823,839 shares of the company’s stock valued at $48,401,000 after purchasing an additional 82,978 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of Apogee Therapeutics by 162.7% in the third quarter. Point72 Asset Management L.P. now owns 707,268 shares of the company’s stock valued at $41,545,000 after purchasing an additional 438,036 shares during the last quarter. Waypoint Capital Advisors LLC purchased a new position in shares of Apogee Therapeutics during the 3rd quarter worth approximately $36,835,000. Finally, Janus Henderson Group PLC raised its position in shares of Apogee Therapeutics by 4,018.9% during the 3rd quarter. Janus Henderson Group PLC now owns 469,557 shares of the company’s stock worth $27,586,000 after purchasing an additional 458,157 shares during the last quarter. Institutional investors and hedge funds own 79.04% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on APGE shares. Wedbush raised their target price on shares of Apogee Therapeutics from $87.00 to $90.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Canaccord Genuity Group assumed coverage on shares of Apogee Therapeutics in a research report on Monday, November 25th. They issued a “buy” rating and a $89.00 price objective for the company. Canaccord Genuity Group started coverage on Apogee Therapeutics in a research report on Monday, November 25th. They set a “buy” rating and a $89.00 target price on the stock. Finally, Guggenheim reissued a “buy” rating on shares of Apogee Therapeutics in a report on Thursday, December 12th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Apogee Therapeutics currently has an average rating of “Buy” and a consensus price target of $89.71.

About Apogee Therapeutics

Apogee Therapeutics, Inc, through its subsidiary, operates as a biotechnology company that develops biologics for the treatment of atopic dermatitis (AD), asthma, chronic obstructive pulmonary disease (COPD), and related inflammatory and immunology indications. The company primarily develops APG777, a subcutaneous (SQ) extended half-life monoclonal antibody (mAb) for AD; and APG808, an SQ extended half-life mAb for COPD.