Apogee Therapeutics (NASDAQ:APGE) Insider Sells $390,830.00 in Stock

Apogee Therapeutics Inc. (NASDAQ:APGE) insider Carl Dambkowski sold 5,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $71.06, for a total value of $390,830.00. Following the completion of the sale, the insider owned 209,773 shares in the company, valued at $14,906,469.38. The trade was a 2.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Wednesday, February 4th, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The stock was sold at an average price of $65.79, for a total transaction of $361,845.00.
• On Wednesday, January 7th, Carl Dambkowski sold 18,700 shares of Apogee Therapeutics stock. The shares were sold at an average price of $77.84, for a total transaction of $1,455,608.00.

Apogee Therapeutics Trading Up 3.0%

Shares of APGE opened at $73.05 on Monday. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of -17.31 and a beta of 1.39. Apogee Therapeutics Inc. has a 12 month low of $26.20 and a 12 month high of $84.56. The firm has a fifty day simple moving average of $72.38 and a 200 day simple moving average of $61.01.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings results on Monday, March 2nd. The company reported ($1.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.05) by $0.02. As a group, research analysts predict that Apogee Therapeutics Inc. will post -3.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on APGE shares. Stephens started coverage on Apogee Therapeutics in a report on Tuesday, December 16th. They set an “overweight” rating and a $95.00 target price on the stock. BTIG Research set a $137.00 price target on Apogee Therapeutics in a research note on Tuesday, January 6th. UBS Group raised Apogee Therapeutics to a “strong-buy” rating in a research report on Wednesday, January 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Apogee Therapeutics in a report on Wednesday, January 21st. Finally, Wolfe Research started coverage on shares of Apogee Therapeutics in a research note on Wednesday, January 7th. They issued a “peer perform” rating for the company. 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $104.92.

Hedge Funds Weigh In On Apogee Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Seven Fleet Capital Management LP acquired a new stake in shares of Apogee Therapeutics during the 4th quarter worth about $136,000. T. Rowe Price Investment Management Inc. grew its stake in Apogee Therapeutics by 189,522.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,732,456 shares of the company’s stock valued at $206,246,000 after buying an additional 2,731,015 shares during the last quarter. Invesco Ltd. grew its stake in Apogee Therapeutics by 142.6% in the 4th quarter. Invesco Ltd. now owns 70,687 shares of the company’s stock valued at $5,335,000 after buying an additional 41,549 shares during the last quarter. Vident Advisory LLC bought a new position in Apogee Therapeutics in the 4th quarter valued at about $218,000. Finally, XTX Topco Ltd raised its holdings in Apogee Therapeutics by 225.1% in the 4th quarter. XTX Topco Ltd now owns 19,026 shares of the company’s stock valued at $1,436,000 after acquiring an additional 13,174 shares during the period. 79.04% of the stock is currently owned by institutional investors and hedge funds.

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 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.