Apogee Therapeutics (NASDAQ:APGE) CEO Michael Thomas Henderson Sells 20,000 Shares of Stock

Apogee Therapeutics Inc. (NASDAQ:APGE) CEO Michael Thomas Henderson sold 20,000 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $82.09, for a total value of $1,641,800.00. Following the transaction, the chief executive officer directly owned 1,115,987 shares of the company’s stock, valued at $91,611,372.83. This represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, 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.
• On Wednesday, March 11th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The stock was sold at an average price of $74.78, for a total value of $1,495,600.00.

Apogee Therapeutics Price Performance

APGE stock opened at $81.14 on Friday. The stock has a market capitalization of $5.02 billion, a P/E ratio of -18.74 and a beta of 0.69. The business has a 50-day moving average of $81.24 and a 200-day moving average of $74.08. Apogee Therapeutics Inc. has a fifty-two week low of $34.34 and a fifty-two week high of $95.32.

Apogee Therapeutics (NASDAQ:APGE) last posted its quarterly earnings data on Monday, May 11th. The company reported ($1.06) earnings per share for the quarter, topping the consensus estimate of ($1.07) by $0.01. Equities analysts expect that Apogee Therapeutics Inc. will post -4.44 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on APGE shares. Royal Bank Of Canada dropped their target price on Apogee Therapeutics from $83.00 to $82.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd. Jefferies Financial Group reiterated a “buy” rating and set a $95.00 target price on shares of Apogee Therapeutics in a report on Monday, February 2nd. Truist Financial started coverage on Apogee Therapeutics in a report on Tuesday, March 17th. They set a “hold” rating and a $83.00 target price on the stock. Wedbush upped their target price on Apogee Therapeutics from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. Finally, Rothschild & Co Redburn started coverage on Apogee Therapeutics in a report on Friday, May 1st. They set a “buy” rating and a $140.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $112.73.

Institutional Trading of Apogee Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP raised its holdings in Apogee Therapeutics by 0.5% during the fourth quarter. Wellington Management Group LLP now owns 4,746,585 shares of the company’s stock worth $358,272,000 after acquiring an additional 22,884 shares in the last quarter. Vanguard Group Inc. raised its stake in Apogee Therapeutics by 27.3% in the fourth quarter. Vanguard Group Inc. now owns 2,857,824 shares of the company’s stock valued at $215,709,000 after buying an additional 612,193 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in Apogee Therapeutics by 189,522.2% in 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 period. Perceptive Advisors LLC raised its stake in Apogee Therapeutics by 72.4% in the fourth 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. Finally, Janus Henderson Group PLC raised its stake in Apogee Therapeutics by 324.4% in the fourth 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. Institutional investors 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 ROR?t, a master regulator of T cell-driven inflammatory pathways. By modulating ROR?t 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 ROR?t inverse agonist currently undergoing early-stage clinical evaluation for moderate to severe plaque psoriasis.