Apogee Therapeutics (NASDAQ:APGE) Insider Sells $1,455,608.00 in Stock

Apogee Therapeutics Inc. (NASDAQ:APGE) insider Carl Dambkowski sold 18,700 shares of the company’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $77.84, for a total value of $1,455,608.00. Following the completion of the sale, the insider directly owned 212,523 shares of the company’s stock, valued at $16,542,790.32. The trade was a 8.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Thursday, December 4th, Carl Dambkowski sold 10,900 shares of Apogee Therapeutics stock. The shares were sold at an average price of $75.00, for a total value of $817,500.00.
• On Wednesday, November 5th, Carl Dambkowski sold 10,785 shares of Apogee Therapeutics stock. The stock was sold at an average price of $55.07, for a total value of $593,929.95.

Apogee Therapeutics Price Performance

NASDAQ APGE traded up $0.51 on Friday, reaching $77.99. The company had a trading volume of 818,317 shares, compared to its average volume of 961,845. Apogee Therapeutics Inc. has a 1 year low of $26.20 and a 1 year high of $80.99. The firm has a 50-day moving average of $70.89 and a 200-day moving average of $51.85. The firm has a market capitalization of $5.33 billion, a PE ratio of -17.81 and a beta of 1.41.

Apogee Therapeutics (NASDAQ:APGE) last posted its earnings results on Monday, November 10th. The company reported ($1.11) EPS for the quarter, topping analysts’ consensus estimates of ($1.14) by $0.03. As a group, sell-side analysts expect that Apogee Therapeutics Inc. will post -3.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on APGE. Craig Hallum reiterated a “buy” rating and issued a $116.00 price target on shares of Apogee Therapeutics in a research note on Wednesday. Wall Street Zen downgraded Apogee Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Apogee Therapeutics in a research report on Wednesday, October 8th. Royal Bank Of Canada reissued an “outperform” rating on shares of Apogee Therapeutics in a research report on Tuesday. Finally, Mizuho started coverage on shares of Apogee Therapeutics in a report on Tuesday, October 21st. They issued an “outperform” rating and a $105.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Apogee Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $104.27.

Hedge Funds Weigh In On Apogee Therapeutics

Several large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in Apogee Therapeutics by 24.1% during the third quarter. Wellington Management Group LLP now owns 4,723,701 shares of the company’s stock valued at $187,673,000 after purchasing an additional 917,991 shares during the last quarter. UBS Group AG boosted its holdings in shares of Apogee Therapeutics by 646.1% in 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. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Apogee Therapeutics by 77.5% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,290,464 shares of the company’s stock valued at $56,045,000 after buying an additional 563,464 shares during the period. Paradigm Biocapital Advisors LP grew its position in shares of Apogee Therapeutics by 58.7% during the 3rd quarter. Paradigm Biocapital Advisors LP now owns 1,521,757 shares of the company’s stock valued at $60,459,000 after buying an additional 563,127 shares during the last quarter. Finally, Vestal Point Capital LP acquired a new stake in Apogee Therapeutics during the third quarter worth about $16,885,000. 79.04% of the stock is currently owned by institutional investors.

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.