Apogee Therapeutics (NASDAQ:APGE) CEO Michael Thomas Henderson Sells 80,000 Shares of Stock

Apogee Therapeutics Inc. (NASDAQ:APGE) CEO Michael Thomas Henderson sold 80,000 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $132.54, for a total value of $10,603,200.00. Following the completion of the sale, the chief executive officer directly owned 1,015,987 shares of the company’s stock, valued at approximately $134,658,916.98. This represents a 7.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, June 10th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The stock was sold at an average price of $83.38, for a total transaction of $1,667,600.00.
• On Wednesday, May 13th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The shares were sold at an average price of $82.09, for a total value of $1,641,800.00.
• On Wednesday, April 8th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The shares were sold at an average price of $82.58, for a total value of $1,651,600.00.

Apogee Therapeutics Stock Down 0.1%

APGE stock traded down $0.19 during trading hours on Wednesday, hitting $132.69. The company’s stock had a trading volume of 7,739,634 shares, compared to its average volume of 4,765,024. The company has a market capitalization of $8.21 billion, a PE ratio of -30.64 and a beta of 0.62. Apogee Therapeutics Inc. has a 12 month low of $34.34 and a 12 month high of $133.16. The stock has a 50 day moving average price of $87.67 and a two-hundred day moving average price of $79.27.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings data on Monday, May 11th. The company reported ($1.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.01. Sell-side analysts expect that Apogee Therapeutics Inc. will post -4.45 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Mizuho reiterated a “neutral” rating and issued a $135.00 target price (up from $110.00) on shares of Apogee Therapeutics in a research note on Wednesday. Guggenheim lowered shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday. The Goldman Sachs Group set a $89.00 price target on shares of Apogee Therapeutics in a report on Thursday, May 28th. BTIG Research reaffirmed a “buy” rating and issued a $137.00 price target on shares of Apogee Therapeutics in a research report on Wednesday, May 27th. Finally, Royal Bank Of Canada lifted their price objective on Apogee Therapeutics from $82.00 to $97.00 and gave the stock a “sector perform” rating in a research note on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $121.25.

Hedge Funds Weigh In On Apogee Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services LLC grew its position in Apogee Therapeutics by 2.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 7,151 shares of the company’s stock worth $540,000 after purchasing an additional 152 shares during the last quarter. Seven Fleet Capital Management LP increased its stake in Apogee Therapeutics by 9.4% during the first quarter. Seven Fleet Capital Management LP now owns 1,969 shares of the company’s stock valued at $166,000 after acquiring an additional 169 shares during the period. Stifel Financial Corp raised its holdings in Apogee Therapeutics by 3.5% in the 4th quarter. Stifel Financial Corp now owns 5,214 shares of the company’s stock valued at $394,000 after acquiring an additional 175 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Apogee Therapeutics by 61.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company’s stock worth $54,000 after purchasing an additional 246 shares in the last quarter. Finally, Rockefeller Capital Management L.P. bought a new stake in shares of Apogee Therapeutics during the fourth quarter valued at approximately $25,000. Institutional investors own 79.04% of the company’s stock.

Key Apogee Therapeutics News

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

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.