Apogee Therapeutics (NASDAQ:APGE) CEO Michael Thomas Henderson Sells 80,000 Shares

Apogee Therapeutics Inc. (NASDAQ:APGE) CEO Michael Thomas Henderson sold 80,000 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $132.54, for a total value of $10,603,200.00. Following the sale, the chief executive officer owned 1,015,987 shares of the company’s stock, valued at approximately $134,658,916.98. This represents a 7.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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, June 10th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The shares were sold at an average price of $83.38, for a total value of $1,667,600.00.
• 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 transaction of $1,651,600.00.

Apogee Therapeutics Trading Down 0.1%

APGE opened at $132.69 on Thursday. The company’s 50 day moving average is $87.67 and its 200-day moving average is $79.27. Apogee Therapeutics Inc. has a 1-year low of $34.34 and a 1-year high of $133.16. The company has a market cap of $8.21 billion, a P/E ratio of -30.64 and a beta of 0.62.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings results on Monday, May 11th. The company reported ($1.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.07) by $0.01. On average, equities analysts forecast that Apogee Therapeutics Inc. will post -4.45 EPS for the current year.

Hedge Funds Weigh In On Apogee Therapeutics

Several large investors have recently modified their holdings of APGE. Commonwealth Equity Services LLC lifted its holdings in shares of Apogee Therapeutics by 2.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 7,151 shares of the company’s stock worth $540,000 after purchasing an additional 152 shares during the period. Seven Fleet Capital Management LP raised its position in Apogee Therapeutics by 9.4% during the 1st quarter. Seven Fleet Capital Management LP now owns 1,969 shares of the company’s stock worth $166,000 after purchasing an additional 169 shares during the last quarter. Stifel Financial Corp raised its position in Apogee Therapeutics by 3.5% during the 4th quarter. Stifel Financial Corp now owns 5,214 shares of the company’s stock worth $394,000 after purchasing an additional 175 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Apogee Therapeutics by 61.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company’s stock worth $54,000 after buying an additional 246 shares during the period. Finally, Rockefeller Capital Management L.P. acquired a new position in Apogee Therapeutics during the 4th quarter worth about $25,000. Institutional investors own 79.04% of the company’s stock.

Wall Street Analyst Weigh In

APGE has been the subject of several research analyst reports. BTIG Research reiterated a “buy” rating and set a $137.00 price target on shares of Apogee Therapeutics in a report on Wednesday, May 27th. Stifel Nicolaus restated a “hold” rating and set a $135.00 price objective (up from $133.00) on shares of Apogee Therapeutics in a research report on Wednesday. Rothschild & Co Redburn initiated coverage on Apogee Therapeutics in a report on Friday, May 1st. They issued a “buy” rating and a $140.00 target price for the company. Craig Hallum set a $135.11 target price on Apogee Therapeutics and gave the company a “hold” rating in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft lowered Apogee Therapeutics from a “buy” rating to a “hold” rating and lifted their price target for the company from $116.00 to $135.00 in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $121.25.

Apogee Therapeutics News Summary

Here are the key news stories impacting Apogee Therapeutics this week:

• Positive Sentiment: Apogee Therapeutics announced a proposed sale to AbbVie for $135.11 per share in cash, reinforcing the takeover premium and likely supporting the stock price. Article Title
• Neutral Sentiment: Stifel reiterated a hold rating and lifted its price target to $135, suggesting the shares are already close to fair value at the deal price. Article Title
• Neutral Sentiment: Citi downgraded the stock to neutral/hold while also raising its target to $135, reflecting a more cautious stance but still near the acquisition value. Article Title
• Neutral Sentiment: Unusual options activity showed heavy put buying, which may indicate some hedging or concern about deal execution risk. Article Title
• Negative Sentiment: A law firm launched an investigation into the adequacy of the proposed sale price and process, which could add legal overhang and uncertainty around the transaction. Article Title

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.