Apogee Therapeutics (NASDAQ:APGE) Insider Carl Dambkowski 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 dated Wednesday, July 1st. The shares were sold at an average price of $132.74, for a total value of $730,070.00. Following the completion of the sale, the insider owned 177,873 shares of the company’s stock, valued at $23,610,862.02. The trade was a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, June 22nd, Carl Dambkowski sold 26,400 shares of Apogee Therapeutics stock. The shares were sold at an average price of $132.60, for a total transaction of $3,500,640.00.
• On Wednesday, June 3rd, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The shares were sold at an average price of $78.71, for a total transaction of $432,905.00.
• 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.

Apogee Therapeutics Stock Performance

Shares of APGE opened at $132.91 on Friday. The company has a 50 day moving average price of $92.75 and a 200-day moving average price of $81.66. Apogee Therapeutics Inc. has a fifty-two week low of $34.34 and a fifty-two week high of $133.85. The stock has a market capitalization of $8.23 billion, a PE ratio of -30.70 and a beta of 0.32.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings data 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. Equities research analysts forecast that Apogee Therapeutics Inc. will post -4.45 EPS for the current year.

Institutional Trading of Apogee Therapeutics

A number of institutional investors have recently made changes to their positions in APGE. Rockefeller Capital Management L.P. acquired a new position in Apogee Therapeutics during the 4th quarter valued at about $25,000. Los Angeles Capital Management LLC acquired a new stake in Apogee Therapeutics in the fourth quarter worth about $37,000. EverSource Wealth Advisors LLC boosted its holdings in Apogee Therapeutics by 61.7% in 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. Seven Fleet Capital Management LP purchased a new stake in shares of Apogee Therapeutics during the fourth quarter worth about $136,000. Finally, Ensign Peak Advisors Inc purchased a new stake in shares of Apogee Therapeutics during the fourth quarter worth about $170,000. Institutional investors and hedge funds own 79.04% of the company’s stock.

Wall Street Analysts Forecast Growth

APGE has been the subject of a number of analyst reports. TD Cowen cut Apogee Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Mizuho reiterated a “neutral” rating and issued a $135.00 target price (up from $110.00) on shares of Apogee Therapeutics in a research note on Wednesday, June 24th. Royal Bank Of Canada boosted their target price on shares of Apogee Therapeutics from $82.00 to $97.00 and gave the stock a “sector perform” rating in a report on Monday, June 8th. Guggenheim lowered shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 23rd. Finally, Truist Financial lowered their price target on shares of Apogee Therapeutics from $83.00 to $81.00 and set a “hold” rating on the stock in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $121.25.

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.