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 the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $83.38, for a total value of $1,667,600.00. Following the completion of the sale, the chief executive officer owned 1,095,987 shares in the company, valued at $91,383,396.06. This trade represents a 1.79% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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, May 13th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The stock was sold at an average price of $82.09, for a total value of $1,641,800.00.
• On Wednesday, April 8th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The stock was sold at an average price of $82.58, for a total value of $1,651,600.00.

Apogee Therapeutics Stock Down 1.3%

Shares of APGE stock traded down $1.17 on Friday, reaching $88.33. The company’s stock had a trading volume of 1,302,746 shares, compared to its average volume of 969,045. Apogee Therapeutics Inc. has a 12-month low of $34.34 and a 12-month high of $95.32. The company has a market capitalization of $5.47 billion, a P/E ratio of -20.40 and a beta of 0.62. The stock’s 50 day simple moving average is $84.39 and its 200-day simple moving average is $77.25.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings results on Monday, May 11th. The company reported ($1.06) EPS for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.01. Research analysts expect that Apogee Therapeutics Inc. will post -4.45 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on APGE. The Goldman Sachs Group set a $89.00 price objective on Apogee Therapeutics in a report on Thursday, May 28th. Rothschild & Co Redburn began coverage on shares of Apogee Therapeutics in a research report on Friday, May 1st. They set a “buy” rating and a $140.00 price target on the stock. Royal Bank Of Canada lifted their price target on shares of Apogee Therapeutics from $82.00 to $97.00 and gave the stock a “sector perform” rating in a research note on Monday. Citigroup boosted their price objective on shares of Apogee Therapeutics from $95.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Apogee Therapeutics in a report on Monday, April 20th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.56.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of APGE. T. Rowe Price Investment Management Inc. grew its stake in shares of Apogee Therapeutics by 189,522.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,732,456 shares of the company’s stock valued at $206,246,000 after buying an additional 2,731,015 shares during the last quarter. Janus Henderson Group PLC boosted its position in Apogee Therapeutics by 324.4% during the 4th quarter. Janus Henderson Group PLC now owns 2,062,604 shares of the company’s stock valued at $155,697,000 after buying an additional 1,576,626 shares during the period. Perceptive Advisors LLC boosted its position in Apogee Therapeutics by 72.4% during the 4th quarter. Perceptive Advisors LLC now owns 2,330,651 shares of the company’s stock valued at $175,918,000 after buying an additional 978,662 shares during the period. Wellington Management Group LLP boosted its position in Apogee Therapeutics by 24.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,723,701 shares of the company’s stock valued at $187,673,000 after buying an additional 917,991 shares during the period. Finally, UBS Group AG boosted its position in Apogee Therapeutics by 646.1% during the 3rd quarter. UBS Group AG now owns 799,465 shares of the company’s stock valued at $31,763,000 after buying an additional 692,308 shares during the period. 79.04% of the stock is owned by institutional investors.

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.