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 business’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $65.79, for a total transaction of $361,845.00. Following the sale, the insider owned 211,148 shares in the company, valued at approximately $13,891,426.92. This trade represents a 2.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

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

• On Wednesday, January 7th, Carl Dambkowski sold 18,700 shares of Apogee Therapeutics stock. The stock was sold at an average price of $77.84, for a total transaction of $1,455,608.00.
• On Thursday, December 4th, Carl Dambkowski sold 10,900 shares of Apogee Therapeutics stock. The stock was sold at an average price of $75.00, for a total transaction of $817,500.00.

Apogee Therapeutics Trading Down 5.8%

APGE traded down $4.01 during midday trading on Wednesday, reaching $64.88. The company’s stock had a trading volume of 755,420 shares, compared to its average volume of 1,035,841. Apogee Therapeutics Inc. has a 1 year low of $26.20 and a 1 year high of $84.56. The stock’s 50-day moving average is $75.43 and its 200-day moving average is $56.13. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of -14.81 and a beta of 1.42.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings results on Monday, November 10th. The company reported ($1.11) EPS for the quarter, topping analysts’ consensus estimates of ($1.14) by $0.03. As a group, equities research analysts forecast that Apogee Therapeutics Inc. will post -3.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on APGE. Mizuho began coverage on Apogee Therapeutics in a research report on Tuesday, October 21st. They issued an “outperform” rating and a $105.00 price target for the company. Stephens assumed coverage on shares of Apogee Therapeutics in a report on Tuesday, December 16th. They issued an “overweight” rating and a $95.00 target price for the company. Stifel Nicolaus set a $133.00 price target on shares of Apogee Therapeutics in a report on Tuesday, January 6th. Craig Hallum restated a “buy” rating and issued a $116.00 price objective on shares of Apogee Therapeutics in a report on Wednesday, January 7th. Finally, Wall Street Zen cut Apogee Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given 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 “Moderate Buy” and a consensus price target of $104.58.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its holdings in Apogee Therapeutics by 24.1% in the third quarter. Wellington Management Group LLP now owns 4,723,701 shares of the company’s stock worth $187,673,000 after purchasing an additional 917,991 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Apogee Therapeutics by 27.3% during the 4th quarter. Vanguard Group Inc. now owns 2,857,824 shares of the company’s stock valued at $215,709,000 after buying an additional 612,193 shares during the period. Paradigm Biocapital Advisors LP lifted its holdings in shares of Apogee Therapeutics by 58.7% during the 3rd quarter. Paradigm Biocapital Advisors LP now owns 1,521,757 shares of the company’s stock valued at $60,459,000 after buying an additional 563,127 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Apogee Therapeutics by 2.2% in the 3rd quarter. Alliancebernstein L.P. now owns 1,419,132 shares of the company’s stock worth $56,382,000 after buying an additional 30,983 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its holdings in shares of Apogee Therapeutics by 77.5% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,290,464 shares of the company’s stock worth $56,045,000 after acquiring an additional 563,464 shares during the period. 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 RORγt, a master regulator of T cell-driven inflammatory pathways. By modulating RORγt 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 RORγt inverse agonist currently undergoing early-stage clinical evaluation for moderate to severe plaque psoriasis.