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 business’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $81.11, for a total value of $1,622,200.00. Following the transaction, the chief executive officer directly owned 1,192,987 shares of the company’s stock, valued at $96,763,175.57. The trade was a 1.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Wednesday, December 10th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The shares were sold at an average price of $75.38, for a total transaction of $1,507,600.00.
• On Thursday, December 4th, Michael Thomas Henderson sold 40,000 shares of Apogee Therapeutics stock. The stock was sold at an average price of $75.01, for a total transaction of $3,000,400.00.
• On Thursday, November 13th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The stock was sold at an average price of $63.01, for a total transaction of $1,260,200.00.

Apogee Therapeutics Stock Up 0.0%

NASDAQ:APGE traded up $0.02 during midday trading on Friday, hitting $80.77. The company had a trading volume of 392,934 shares, compared to its average volume of 932,615. The stock’s fifty day moving average price is $73.44 and its 200-day moving average price is $53.12. Apogee Therapeutics Inc. has a 52-week low of $26.20 and a 52-week high of $84.56. The company has a market capitalization of $5.52 billion, a PE ratio of -18.44 and a beta of 1.41.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings results on Monday, November 10th. The company reported ($1.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.14) by $0.03. As a group, research analysts forecast that Apogee Therapeutics Inc. will post -3.09 earnings per share for the current year.

Institutional Investors Weigh In On Apogee Therapeutics

Several institutional investors have recently added to or reduced their stakes in APGE. Wellington Management Group LLP increased its stake in shares of Apogee Therapeutics by 24.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,723,701 shares of the company’s stock worth $187,673,000 after acquiring an additional 917,991 shares in the last quarter. Vanguard Group Inc. raised its holdings in Apogee Therapeutics by 6.5% in the third quarter. Vanguard Group Inc. now owns 2,245,631 shares of the company’s stock worth $89,219,000 after buying an additional 136,693 shares during the last quarter. Paradigm Biocapital Advisors LP lifted its stake in shares of Apogee Therapeutics by 58.7% in the third quarter. Paradigm Biocapital Advisors LP now owns 1,521,757 shares of the company’s stock worth $60,459,000 after buying an additional 563,127 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Apogee Therapeutics by 2.2% during the third quarter. Alliancebernstein L.P. now owns 1,419,132 shares of the company’s stock valued at $56,382,000 after purchasing an additional 30,983 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its position in Apogee Therapeutics by 77.5% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,290,464 shares of the company’s stock valued at $56,045,000 after purchasing an additional 563,464 shares during the period. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Analysts Set New Price Targets

APGE has been the topic of several research reports. Royal Bank Of Canada reissued an “outperform” rating on shares of Apogee Therapeutics in a research note on Tuesday, January 6th. Wolfe Research began coverage on shares of Apogee Therapeutics in a report on Wednesday, January 7th. They set a “peer perform” rating on the stock. UBS Group upgraded shares of Apogee Therapeutics to a “strong-buy” rating in a research report on Wednesday, January 7th. Craig Hallum reissued a “buy” rating and issued a $116.00 price target on shares of Apogee Therapeutics in a research note on Wednesday, January 7th. Finally, BTIG Research set a $137.00 price objective on Apogee Therapeutics in a research note on Tuesday, January 6th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Apogee Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $104.27.

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.