Apogee Therapeutics (NASDAQ:APGE) Insider Carl Dambkowski 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, August 5th. The stock was sold at an average price of $134.17, for a total transaction of $737,935.00. Following the sale, the insider owned 168,498 shares in the company, valued at $22,607,376.66. The trade was a 3.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through 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 Wednesday, July 1st, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The shares were sold at an average price of $132.74, for a total transaction of $730,070.00.
• On Monday, June 22nd, Carl Dambkowski sold 26,400 shares of Apogee Therapeutics stock. The shares were sold at an average price of $132.60, for a total transaction of $3,500,640.00.
• On Wednesday, June 3rd, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The shares were sold at an average price of $78.71, for a total transaction of $432,905.00.

Apogee Therapeutics Trading Up 0.3%

APGE stock opened at $134.84 on Friday. The company has a market cap of $8.34 billion, a P/E ratio of -31.14 and a beta of 0.34. Apogee Therapeutics Inc. has a 52 week low of $34.34 and a 52 week high of $134.88. The company’s 50-day moving average price is $119.35 and its 200 day moving average price is $91.88.

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on APGE shares. BTIG Research reaffirmed a “buy” rating and issued a $137.00 price objective on shares of Apogee Therapeutics in a research note on Wednesday, May 27th. Citigroup downgraded Apogee Therapeutics from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $125.00 to $135.00 in a research report on Tuesday, June 23rd. TD Cowen lowered Apogee Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Guggenheim cut Apogee Therapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 23rd. Finally, Rothschild & Co Redburn started coverage on Apogee Therapeutics in a research note on Friday, May 1st. They set a “buy” rating and a $140.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Apogee Therapeutics presently has an average rating of “Hold” and a consensus target price of $121.25.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of APGE. NINE MASTS CAPITAL Ltd acquired a new position in shares of Apogee Therapeutics during the 2nd quarter worth approximately $1,248,000. BlackRock Inc. purchased a new stake in Apogee Therapeutics in the 2nd quarter valued at approximately $730,948,000. Deutsche Bank AG acquired a new stake in Apogee Therapeutics during the 2nd quarter valued at $13,137,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Apogee Therapeutics during the 2nd quarter valued at $597,000. Finally, Longfellow Investment Management Co. LLC purchased a new position in Apogee Therapeutics during the second quarter worth $81,000. 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.