Apogee Therapeutics (NASDAQ:APGE) CEO Michael Thomas Henderson Sells 20,000 Shares of Stock

Apogee Therapeutics Inc. (NASDAQ:APGE) CEO Michael Thomas Henderson sold 20,000 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $63.35, for a total transaction of $1,267,000.00. Following the transaction, the chief executive officer owned 1,172,987 shares in the company, valued at approximately $74,308,726.45. The trade was a 1.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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.
• On Wednesday, December 10th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The shares were sold at an average price of $75.38, for a total value of $1,507,600.00.
• On Thursday, December 4th, Michael Thomas Henderson sold 40,000 shares of Apogee Therapeutics stock. The shares were sold at an average price of $75.01, for a total transaction of $3,000,400.00.

Apogee Therapeutics Trading Down 2.2%

Shares of APGE stock opened at $67.78 on Friday. Apogee Therapeutics Inc. has a twelve month low of $26.20 and a twelve month high of $84.56. The firm has a fifty day simple moving average of $74.39 and a 200-day simple moving average of $57.22. The company has a market capitalization of $4.63 billion, a PE ratio of -15.47 and a beta of 1.42.

Analysts Set New Price Targets

A number of research firms have recently issued reports on APGE. Mizuho assumed coverage on shares of Apogee Therapeutics in a research report on Tuesday, October 21st. They issued an “outperform” rating and a $105.00 price target for the company. Wolfe Research began coverage on Apogee Therapeutics in a research report on Wednesday, January 7th. They issued a “peer perform” rating on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $95.00 price target on shares of Apogee Therapeutics in a report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft began coverage on Apogee Therapeutics in a report on Tuesday, December 9th. They issued a “buy” rating and a $103.00 price objective on the stock. Finally, Stephens assumed coverage on shares of Apogee Therapeutics in a research note on Tuesday, December 16th. They issued an “overweight” rating and a $95.00 target price for the company. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $104.58.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in APGE. FORA Capital LLC acquired a new stake in Apogee Therapeutics during the fourth quarter worth $1,374,000. Marshall Wace LLP boosted its position in shares of Apogee Therapeutics by 622.1% during the 4th quarter. Marshall Wace LLP now owns 50,744 shares of the company’s stock valued at $3,830,000 after acquiring an additional 43,717 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Apogee Therapeutics by 27.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 80,832 shares of the company’s stock valued at $6,118,000 after acquiring an additional 17,607 shares during the period. Affinity Asset Advisors LLC raised its position in Apogee Therapeutics by 5.2% in the fourth quarter. Affinity Asset Advisors LLC now owns 1,234,926 shares of the company’s stock worth $93,212,000 after purchasing an additional 61,500 shares in the last quarter. Finally, Stifel Financial Corp lifted its stake in Apogee Therapeutics by 3.5% during the fourth quarter. Stifel Financial Corp now owns 5,214 shares of the company’s stock worth $394,000 after purchasing an additional 175 shares during the period. 79.04% of the stock is owned by 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.