Insider Selling: Apogee Therapeutics, Inc. (NASDAQ:APGE) CEO Sells 15,000 Shares of Stock

Apogee Therapeutics, Inc. (NASDAQ:APGE) CEO Michael Thomas Henderson sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $48.85, for a total value of $732,750.00. Following the completion of the sale, the chief executive officer now directly owns 1,309,487 shares of the company’s stock, valued at approximately $63,968,439.95. This represents a 1.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, December 4th, Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock. The stock was sold at an average price of $46.58, for a total transaction of $698,700.00.
• On Wednesday, November 6th, Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock. The shares were sold at an average price of $59.22, for a total transaction of $888,300.00.

Apogee Therapeutics Stock Performance

NASDAQ APGE opened at $41.05 on Friday. Apogee Therapeutics, Inc. has a fifty-two week low of $30.84 and a fifty-two week high of $72.29. The stock has a market cap of $1.85 billion, a P/E ratio of -16.96 and a beta of 2.26. The stock has a 50 day simple moving average of $48.43 and a two-hundred day simple moving average of $49.00.

Wall Street Analysts Forecast Growth

APGE has been the topic of a number of recent research reports. Canaccord Genuity Group initiated coverage on Apogee Therapeutics in a research note on Monday, November 25th. They set a “buy” rating and a $89.00 price objective on the stock. Guggenheim restated a “buy” rating on shares of Apogee Therapeutics in a research report on Thursday, December 12th. Canaccord Genuity Group started coverage on Apogee Therapeutics in a research report on Monday, November 25th. They issued a “buy” rating and a $89.00 price objective for the company. Finally, Wedbush raised their target price on shares of Apogee Therapeutics from $87.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Apogee Therapeutics currently has an average rating of “Buy” and an average target price of $89.71.

Institutional Trading of Apogee Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APGE. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Apogee Therapeutics in the 3rd quarter worth $71,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Apogee Therapeutics by 21.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company’s stock worth $94,000 after buying an additional 285 shares in the last quarter. Wexford Capital LP purchased a new stake in Apogee Therapeutics in the third quarter worth about $230,000. Arizona State Retirement System boosted its position in Apogee Therapeutics by 4.5% during the 2nd quarter. Arizona State Retirement System now owns 5,993 shares of the company’s stock valued at $236,000 after acquiring an additional 258 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Apogee Therapeutics by 26.3% in the 2nd quarter. Principal Financial Group Inc. now owns 6,442 shares of the company’s stock worth $253,000 after acquiring an additional 1,340 shares in the last quarter. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Apogee Therapeutics Company Profile

Apogee Therapeutics, Inc, through its subsidiary, operates as a biotechnology company that develops biologics for the treatment of atopic dermatitis (AD), asthma, chronic obstructive pulmonary disease (COPD), and related inflammatory and immunology indications. The company primarily develops APG777, a subcutaneous (SQ) extended half-life monoclonal antibody (mAb) for AD; and APG808, an SQ extended half-life mAb for COPD.