Apogee Therapeutics (NASDAQ:APGE) Insider Sells 5,500 Shares

Apogee Therapeutics Inc. (NASDAQ:APGE) insider Carl Dambkowski sold 5,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $134.17, for a total value of $737,935.00. Following the transaction, the insider directly owned 168,498 shares in the company, valued at $22,607,376.66. This trade represents a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, July 1st, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The shares were sold at an average price of $132.74, for a total transaction of $730,070.00.
• 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 stock was sold at an average price of $78.71, for a total value of $432,905.00.

Apogee Therapeutics Stock Performance

Shares of Apogee Therapeutics stock traded up $0.35 on Friday, hitting $134.84. 1,495,195 shares of the company’s stock were exchanged, compared to its average volume of 1,158,962. Apogee Therapeutics Inc. has a 1 year low of $34.34 and a 1 year high of $134.88. The company has a 50-day simple moving average of $119.35 and a 200-day simple moving average of $91.88. The stock has a market capitalization of $8.34 billion, a PE ratio of -31.14 and a beta of 0.34.

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

Hedge Funds Weigh In On Apogee Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. TD Asset Management Inc raised its position in shares of Apogee Therapeutics by 55.3% during the 4th quarter. TD Asset Management Inc now owns 129,290 shares of the company’s stock valued at $9,759,000 after buying an additional 46,050 shares during the period. Vanguard Group Inc. increased its stake in Apogee Therapeutics by 27.3% during the fourth quarter. Vanguard Group Inc. now owns 2,857,824 shares of the company’s stock worth $215,709,000 after acquiring an additional 612,193 shares during the last quarter. Pictet Asset Management Holding SA purchased a new stake in Apogee Therapeutics in the fourth quarter valued at $23,616,000. Geode Capital Management LLC raised its position in Apogee Therapeutics by 18.7% in the fourth quarter. Geode Capital Management LLC now owns 1,059,085 shares of the company’s stock valued at $79,957,000 after purchasing an additional 166,882 shares during the period. Finally, Jennison Associates LLC acquired a new position in shares of Apogee Therapeutics in the 4th quarter valued at $43,675,000. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Canaccord Genuity Group downgraded Apogee Therapeutics from a “buy” rating to a “hold” rating and upped their target price for the company from $130.00 to $135.11 in a research report on Monday, June 22nd. Royal Bank Of Canada boosted their price target on Apogee Therapeutics from $82.00 to $97.00 and gave the company a “sector perform” rating in a research note on Monday, June 8th. BTIG Research reissued a “buy” rating and issued a $137.00 price objective on shares of Apogee Therapeutics in a report on Wednesday, May 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Apogee Therapeutics in a research note on Friday, July 17th. Finally, Guggenheim downgraded Apogee Therapeutics from a “buy” rating to a “neutral” rating in a report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $121.25.

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 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.