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

Apogee Therapeutics Inc. (NASDAQ:APGE) CEO Michael Thomas Henderson sold 20,000 shares of the company’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $133.63, for a total value of $2,672,600.00. Following the sale, the chief executive officer owned 995,987 shares of the company’s stock, valued at $133,093,742.81. This trade represents a 1.97% decrease in their ownership of the stock. The sale was disclosed in a legal 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.

Michael Thomas Henderson also recently made the following trade(s):

• On Monday, June 22nd, Michael Thomas Henderson sold 80,000 shares of Apogee Therapeutics stock. The shares were sold at an average price of $132.54, for a total transaction of $10,603,200.00.
• On Wednesday, June 10th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The stock was 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.

Apogee Therapeutics Stock Performance

APGE stock traded up $0.08 during trading on Friday, reaching $133.65. The company had a trading volume of 787,802 shares, compared to its average volume of 5,990,803. Apogee Therapeutics Inc. has a twelve month low of $34.34 and a twelve month high of $133.87. The company has a market cap of $8.27 billion, a price-to-earnings ratio of -30.87 and a beta of 0.32. The firm has a 50-day simple moving average of $98.39 and a 200-day simple moving average of $84.01.

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

Institutional Investors Weigh In On Apogee Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its position in shares of Apogee Therapeutics by 0.5% during the 4th quarter. Wellington Management Group LLP now owns 4,746,585 shares of the company’s stock worth $358,272,000 after purchasing an additional 22,884 shares during the last quarter. Vanguard Group Inc. increased its stake in Apogee Therapeutics by 27.3% during the 4th quarter. Vanguard Group Inc. now owns 2,857,824 shares of the company’s stock worth $215,709,000 after buying an additional 612,193 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings 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 acquiring an additional 2,731,015 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Apogee Therapeutics by 14.4% in the first quarter. Janus Henderson Group PLC now owns 2,360,596 shares of the company’s stock valued at $198,809,000 after acquiring an additional 297,992 shares in the last quarter. Finally, Perceptive Advisors LLC boosted its stake in shares of Apogee Therapeutics by 72.4% in the fourth quarter. Perceptive Advisors LLC now owns 2,330,651 shares of the company’s stock worth $175,918,000 after acquiring an additional 978,662 shares during the last quarter. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Mizuho reiterated a “neutral” rating and set a $135.00 price objective (up from $110.00) on shares of Apogee Therapeutics in a research note on Wednesday, June 24th. Stifel Nicolaus reaffirmed a “hold” rating and set a $135.00 target price (up from $133.00) on shares of Apogee Therapeutics in a report on Wednesday, June 24th. The Goldman Sachs Group set a $89.00 price target on Apogee Therapeutics in a research report on Thursday, May 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Apogee Therapeutics in a research report on Monday, April 20th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Apogee Therapeutics from a “buy” rating to a “hold” rating and raised their price objective for the stock from $116.00 to $135.00 in a research note on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price 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 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.