Apogee Therapeutics (NASDAQ:APGE) Insider Sells $462,770.00 in Stock

Apogee Therapeutics Inc. (NASDAQ:APGE) insider Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $84.14, for a total transaction of $462,770.00. Following the completion of the sale, the insider directly owned 207,023 shares of the company’s stock, valued at approximately $17,418,915.22. This trade represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a filing 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, April 1st, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The shares were sold at an average price of $84.84, for a total transaction of $466,620.00.
• On Wednesday, March 4th, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The shares were sold at an average price of $71.06, for a total transaction of $390,830.00.

Apogee Therapeutics Stock Up 1.5%

APGE traded up $1.22 during midday trading on Friday, hitting $83.03. The company had a trading volume of 768,713 shares, compared to its average volume of 585,283. Apogee Therapeutics Inc. has a 52 week low of $34.34 and a 52 week high of $95.32. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of -19.68 and a beta of 0.69. The stock’s 50 day moving average price is $79.69 and its 200 day moving average price is $73.01.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings data on Monday, March 2nd. The company reported ($1.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.05) by $0.02. Research analysts predict that Apogee Therapeutics Inc. will post -4.57 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on APGE shares. Guggenheim lifted their price objective on shares of Apogee Therapeutics from $130.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Citigroup lifted their price objective on shares of Apogee Therapeutics from $95.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Truist Financial started coverage on shares of Apogee Therapeutics in a report on Tuesday, March 17th. They set a “hold” rating and a $83.00 price objective for the company. Rothschild & Co Redburn started coverage on shares of Apogee Therapeutics in a report on Friday, May 1st. They set a “buy” rating and a $140.00 price objective for the company. Finally, Mizuho lifted their price objective on shares of Apogee Therapeutics from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, March 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $112.73.

Institutional Trading of Apogee Therapeutics

Several hedge funds have recently added to or reduced their stakes in the stock. WCM Investment Management LLC bought a new stake in Apogee Therapeutics in the first quarter worth about $5,985,000. AlphaCentric Advisors LLC raised its position in Apogee Therapeutics by 5.7% in the first quarter. AlphaCentric Advisors LLC now owns 11,369 shares of the company’s stock worth $957,000 after acquiring an additional 618 shares during the period. KBC Group NV bought a new stake in Apogee Therapeutics in the first quarter worth about $3,185,000. Swiss National Bank raised its position in Apogee Therapeutics by 20.2% in the first quarter. Swiss National Bank now owns 75,600 shares of the company’s stock worth $6,363,000 after acquiring an additional 12,700 shares during the period. Finally, Jennison Associates LLC raised its position in Apogee Therapeutics by 1.1% in the first quarter. Jennison Associates LLC now owns 585,016 shares of the company’s stock worth $49,241,000 after acquiring an additional 6,389 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.