Insider Selling: Apogee Therapeutics (NASDAQ:APGE) Insider Sells 5,500 Shares of Stock

Apogee Therapeutics Inc. (NASDAQ:APGE) insider Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $78.71, for a total transaction of $432,905.00. Following the transaction, the insider directly owned 205,648 shares of the company’s stock, valued at approximately $16,186,554.08. This trade represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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.

Carl Dambkowski also recently made the following trade(s):

• On Wednesday, May 6th, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The shares were sold at an average price of $84.14, for a total transaction of $462,770.00.
• On Wednesday, April 1st, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The shares were sold at an average price of $84.84, for a total transaction of $466,620.00.

Apogee Therapeutics Stock Down 4.4%

Shares of Apogee Therapeutics stock traded down $3.98 during trading on Friday, reaching $86.92. The company’s stock had a trading volume of 1,307,795 shares, compared to its average volume of 960,007. The business’s 50-day moving average price is $83.96 and its 200-day moving average price is $76.58. The firm has a market cap of $5.38 billion, a PE ratio of -20.07 and a beta of 0.62. Apogee Therapeutics Inc. has a 52 week low of $34.34 and a 52 week high of $95.32.

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 analysts’ consensus estimates of ($1.07) by $0.01. Equities analysts predict that Apogee Therapeutics Inc. will post -4.45 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on APGE shares. Royal Bank Of Canada reduced their target price on shares of Apogee Therapeutics from $83.00 to $82.00 and set a “sector perform” rating for the company in a research report on Monday, March 2nd. Wedbush boosted their target price on shares of Apogee Therapeutics from $120.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. The Goldman Sachs Group set a $89.00 target price on shares of Apogee Therapeutics in a research report on Thursday, May 28th. Truist Financial reduced their target price on shares of Apogee Therapeutics from $83.00 to $81.00 and set a “hold” rating for the company in a research report on Wednesday, May 27th. Finally, Guggenheim boosted their target price on shares of Apogee Therapeutics from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Apogee Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $113.63.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Seven Fleet Capital Management LP raised its stake in Apogee Therapeutics by 9.4% during the first quarter. Seven Fleet Capital Management LP now owns 1,969 shares of the company’s stock worth $166,000 after acquiring an additional 169 shares in the last quarter. Glenmede Trust Co. NA raised its stake in Apogee Therapeutics by 26.9% during the first quarter. Glenmede Trust Co. NA now owns 10,799 shares of the company’s stock worth $909,000 after acquiring an additional 2,287 shares in the last quarter. Bank of America Corp DE raised its stake in Apogee Therapeutics by 13.5% during the first quarter. Bank of America Corp DE now owns 900,871 shares of the company’s stock worth $75,826,000 after acquiring an additional 107,176 shares in the last quarter. Janus Henderson Group PLC raised its stake in Apogee Therapeutics by 14.4% during the first quarter. Janus Henderson Group PLC now owns 2,360,596 shares of the company’s stock worth $198,809,000 after acquiring an additional 297,992 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Apogee Therapeutics by 61.7% during the first quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company’s stock worth $54,000 after acquiring an additional 246 shares in the last quarter. Institutional investors and hedge funds own 79.04% of the company’s stock.

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.