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 business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $74.78, for a total value of $1,495,600.00. Following the completion of the sale, the chief executive officer directly owned 1,152,987 shares of the company’s stock, valued at approximately $86,220,367.86. The trade was a 1.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Wednesday, February 11th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The shares were sold at an average price of $63.35, for a total transaction of $1,267,000.00.
• On Wednesday, January 14th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The shares were sold at an average price of $81.11, for a total transaction of $1,622,200.00.

Apogee Therapeutics Stock Down 2.2%

APGE stock traded down $1.61 during trading hours on Friday, hitting $71.90. The company’s stock had a trading volume of 728,707 shares, compared to its average volume of 772,135. The stock has a 50 day moving average price of $72.21 and a two-hundred day moving average price of $61.96. Apogee Therapeutics Inc. has a 12 month low of $26.20 and a 12 month high of $84.56. The company has a market capitalization of $5.00 billion, a PE ratio of -17.04 and a beta of 1.39.

Apogee Therapeutics (NASDAQ:APGE) last released its quarterly earnings results on Monday, March 2nd. The company reported ($1.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.05) by $0.02. Sell-side analysts expect that Apogee Therapeutics Inc. will post -3.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on APGE. UBS Group raised Apogee Therapeutics to a “strong-buy” rating in a report on Wednesday, January 7th. Citigroup reiterated a “buy” rating on shares of Apogee Therapeutics in a report on Sunday, January 25th. Jefferies Financial Group restated a “buy” rating and issued a $95.00 price objective on shares of Apogee Therapeutics in a research note on Monday, February 2nd. Wolfe Research assumed coverage on shares of Apogee Therapeutics in a report on Wednesday, January 7th. They set a “peer perform” rating for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Apogee Therapeutics in a research note on Wednesday, January 21st. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Apogee Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $105.82.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of APGE. Exane Asset Management bought a new position in Apogee Therapeutics during the third quarter worth $2,048,000. Rafferty Asset Management LLC grew its position in Apogee Therapeutics by 55.9% in the 3rd quarter. Rafferty Asset Management LLC now owns 65,796 shares of the company’s stock worth $2,614,000 after purchasing an additional 23,585 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Apogee Therapeutics in the 3rd quarter worth $5,333,000. Candriam S.C.A. bought a new position in shares of Apogee Therapeutics during the 3rd quarter worth about $5,009,000. Finally, Prudential Financial Inc. increased its holdings in shares of Apogee Therapeutics by 176.4% during the 2nd quarter. Prudential Financial Inc. now owns 68,845 shares of the company’s stock worth $2,990,000 after purchasing an additional 43,940 shares during the period. 79.04% of the stock is currently owned by institutional investors and hedge funds.

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.