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

Apogee Therapeutics Inc. (NASDAQ:APGE) insider Carl Dambkowski sold 5,500 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $132.74, for a total transaction of $730,070.00. Following the completion of the transaction, the insider owned 177,873 shares of the company’s stock, valued at approximately $23,610,862.02. This trade represents a 3.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 Monday, June 22nd, Carl Dambkowski sold 26,400 shares of Apogee Therapeutics stock. The stock was sold at an average price of $132.60, for a total value 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.
• On Wednesday, May 6th, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The shares were sold at an average price of $84.14, for a total transaction of $462,770.00.

Apogee Therapeutics Price Performance

NASDAQ APGE traded up $0.14 on Thursday, hitting $132.91. The company had a trading volume of 2,998,800 shares, compared to its average volume of 5,794,422. The company’s fifty day moving average price is $92.75 and its 200-day moving average price is $81.66. The company has a market capitalization of $8.23 billion, a PE ratio of -30.70 and a beta of 0.32. Apogee Therapeutics Inc. has a 12-month low of $34.34 and a 12-month high of $133.85.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly 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. On average, sell-side analysts anticipate that Apogee Therapeutics Inc. will post -4.45 EPS for the current year.

Hedge Funds Weigh In On Apogee Therapeutics

Hedge funds have recently made changes to their positions in the business. Rockefeller Capital Management L.P. bought a new position in Apogee Therapeutics in the 4th quarter valued at $25,000. Los Angeles Capital Management LLC bought a new position in shares of Apogee Therapeutics in the 4th quarter valued at about $37,000. EverSource Wealth Advisors LLC grew its stake in shares of Apogee Therapeutics by 61.7% in the first quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company’s stock valued at $54,000 after buying an additional 246 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Apogee Therapeutics during the 3rd quarter worth about $96,000. Finally, Seven Fleet Capital Management LP acquired a new position in shares of Apogee Therapeutics during the 4th quarter worth approximately $136,000. Institutional investors and hedge funds own 79.04% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on APGE. Stifel Nicolaus reissued a “hold” rating and issued a $135.00 price objective (up from $133.00) on shares of Apogee Therapeutics in a research note on Wednesday, June 24th. Craig Hallum set a $135.11 price objective on shares of Apogee Therapeutics and gave the company a “hold” rating in a research note on Monday, June 22nd. Citigroup cut Apogee Therapeutics from a “buy” rating to a “neutral” rating and raised their price target for the company from $125.00 to $135.00 in a research report on Tuesday, June 23rd. UBS Group downgraded shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating and upped their price target for the company from $100.00 to $135.11 in a report on Tuesday, June 23rd. Finally, Wedbush cut shares of Apogee Therapeutics from an “outperform” rating to a “neutral” rating and set a $135.00 price objective for the company. in a research note on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $121.25.

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.