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, May 13th. The shares were sold at an average price of $82.09, for a total transaction of $1,641,800.00. Following the completion of the transaction, the chief executive officer owned 1,115,987 shares in the company, valued at approximately $91,611,372.83. This trade represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Wednesday, April 8th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The shares were sold at an average price of $82.58, for a total transaction of $1,651,600.00.
• On Wednesday, March 11th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The shares were sold at an average price of $74.78, for a total transaction of $1,495,600.00.

Apogee Therapeutics Stock Down 3.3%

NASDAQ:APGE traded down $2.77 on Friday, reaching $81.14. The stock had a trading volume of 714,815 shares, compared to its average volume of 629,669. The company has a market capitalization of $5.02 billion, a P/E ratio of -18.74 and a beta of 0.69. Apogee Therapeutics Inc. has a 1-year low of $34.34 and a 1-year high of $95.32. The stock has a fifty day moving average price of $81.24 and a 200-day moving average price of $74.08.

Apogee Therapeutics (NASDAQ:APGE) last released its quarterly earnings results on Monday, May 11th. The company reported ($1.06) EPS for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.01. Sell-side analysts predict that Apogee Therapeutics Inc. will post -4.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Rothschild & Co Redburn assumed coverage on shares of Apogee Therapeutics in a research note on Friday, May 1st. They issued a “buy” rating and a $140.00 target price for the company. BTIG Research reaffirmed a “buy” rating and issued a $137.00 target price on shares of Apogee Therapeutics in a research note on Monday, March 23rd. Guggenheim boosted their target price on shares of Apogee Therapeutics from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Mizuho boosted their target price on shares of Apogee Therapeutics from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Apogee Therapeutics in a research note on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $112.73.

Hedge Funds Weigh In On Apogee Therapeutics

Institutional investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. bought a new stake in shares of Apogee Therapeutics during the fourth quarter worth approximately $25,000. ANTIPODES PARTNERS Ltd raised its stake in shares of Apogee Therapeutics by 41.2% during the third quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company’s stock worth $33,000 after buying an additional 246 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Apogee Therapeutics during the fourth quarter worth approximately $37,000. Quantbot Technologies LP bought a new stake in shares of Apogee Therapeutics during the third quarter worth approximately $96,000. Finally, Seven Fleet Capital Management LP bought a new stake in shares of Apogee Therapeutics during the fourth quarter worth approximately $136,000. 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.