Apogee Therapeutics (NASDAQ:APGE) Insider Carl Dambkowski Sells 26,400 Shares of Stock

Apogee Therapeutics Inc. (NASDAQ:APGE) insider Carl Dambkowski sold 26,400 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $132.60, for a total transaction of $3,500,640.00. Following the completion of the transaction, the insider directly owned 179,248 shares of the company’s stock, valued at approximately $23,768,284.80. The trade was a 12.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 transaction of $432,905.00.
• On Wednesday, May 6th, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The stock was sold at an average price of $84.14, for a total transaction of $462,770.00.
• On Wednesday, April 1st, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The stock was sold at an average price of $84.84, for a total value of $466,620.00.

Apogee Therapeutics Stock Performance

NASDAQ:APGE opened at $132.69 on Thursday. The firm has a market capitalization of $8.21 billion, a price-to-earnings ratio of -30.64 and a beta of 0.62. Apogee Therapeutics Inc. has a 52-week low of $34.34 and a 52-week high of $133.16. The stock has a fifty day moving average of $87.67 and a 200 day moving average of $79.27.

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

Analyst Ratings Changes

Several research analysts recently weighed in on APGE shares. Wedbush cut shares of Apogee Therapeutics from an “outperform” rating to a “neutral” rating and set a $135.00 price objective on the stock. in a research report on Monday. Stifel Nicolaus reiterated a “hold” rating and set a $135.00 target price (up from $133.00) on shares of Apogee Therapeutics in a research report on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of Apogee Therapeutics in a research report on Monday, April 20th. Guggenheim downgraded shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating in a report on Tuesday. Finally, Mizuho reiterated a “neutral” rating and issued a $135.00 target price (up from $110.00) on shares of Apogee Therapeutics in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Apogee Therapeutics presently has an average rating of “Hold” and a consensus target price of $121.25.

Key Headlines Impacting Apogee Therapeutics

Here are the key news stories impacting Apogee Therapeutics this week:

• Positive Sentiment: Apogee Therapeutics announced a proposed sale to AbbVie for $135.11 per share in cash, reinforcing the takeover premium and likely supporting the stock price. Article Title
• Neutral Sentiment: Stifel reiterated a hold rating and lifted its price target to $135, suggesting the shares are already close to fair value at the deal price. Article Title
• Neutral Sentiment: Citi downgraded the stock to neutral/hold while also raising its target to $135, reflecting a more cautious stance but still near the acquisition value. Article Title
• Neutral Sentiment: Unusual options activity showed heavy put buying, which may indicate some hedging or concern about deal execution risk. Article Title
• Negative Sentiment: A law firm launched an investigation into the adequacy of the proposed sale price and process, which could add legal overhang and uncertainty around the transaction. Article Title

Hedge Funds Weigh In On Apogee Therapeutics

Large investors have recently modified their holdings of the company. Seven Fleet Capital Management LP lifted its position in Apogee Therapeutics by 9.4% in the 1st quarter. Seven Fleet Capital Management LP now owns 1,969 shares of the company’s stock worth $166,000 after buying an additional 169 shares during the last quarter. Glenmede Trust Co. NA grew its position in Apogee Therapeutics by 26.9% during the first quarter. Glenmede Trust Co. NA now owns 10,799 shares of the company’s stock valued at $909,000 after acquiring an additional 2,287 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Apogee Therapeutics by 13.5% during the first quarter. Bank of America Corp DE now owns 900,871 shares of the company’s stock worth $75,826,000 after acquiring an additional 107,176 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Apogee Therapeutics by 14.4% during the first quarter. Janus Henderson Group PLC now owns 2,360,596 shares of the company’s stock worth $198,809,000 after acquiring an additional 297,992 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Apogee Therapeutics by 61.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company’s stock worth $54,000 after acquiring an additional 246 shares during the last quarter. 79.04% of the stock is owned by hedge funds and other institutional investors.

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.