Insider Selling: Apogee Therapeutics, Inc. (NASDAQ:APGE) CEO Sells $301,500.00 in Stock

Apogee Therapeutics, Inc. (NASDAQ:APGE) CEO Michael Thomas Henderson sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $30.15, for a total value of $301,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,292,987 shares in the company, valued at approximately $38,983,558.05. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, February 5th, Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock. The stock was sold at an average price of $40.58, for a total value of $608,700.00.
• On Wednesday, January 8th, Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock. The stock was sold at an average price of $48.85, for a total value of $732,750.00.

Apogee Therapeutics Trading Up 2.0 %

Shares of APGE opened at $36.14 on Monday. Apogee Therapeutics, Inc. has a 12 month low of $29.10 and a 12 month high of $72.29. The stock has a fifty day moving average price of $38.92 and a 200-day moving average price of $46.90. The firm has a market cap of $1.63 billion, a PE ratio of -14.93 and a beta of 2.46.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($1.19) EPS for the quarter, missing the consensus estimate of ($0.94) by ($0.25). As a group, research analysts forecast that Apogee Therapeutics, Inc. will post -3.09 EPS for the current year.

Analysts Set New Price Targets

APGE has been the topic of several recent research reports. Guggenheim reaffirmed a “buy” rating on shares of Apogee Therapeutics in a research report on Monday, February 10th. Wedbush reaffirmed an “outperform” rating and set a $90.00 target price on shares of Apogee Therapeutics in a research report on Monday, March 3rd. Canaccord Genuity Group initiated coverage on Apogee Therapeutics in a research report on Monday, November 25th. They set a “buy” rating and a $89.00 target price on the stock. Finally, Canaccord Genuity Group initiated coverage on Apogee Therapeutics in a research report on Monday, November 25th. They set a “buy” rating and a $89.00 target price on the stock. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $91.60.

Institutional Trading of Apogee Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in APGE. Wellington Management Group LLP lifted its holdings in shares of Apogee Therapeutics by 35.7% during the 3rd quarter. Wellington Management Group LLP now owns 4,814,400 shares of the company’s stock valued at $282,798,000 after purchasing an additional 1,267,451 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Apogee Therapeutics in the 4th quarter worth $32,621,000. Janus Henderson Group PLC raised its stake in Apogee Therapeutics by 141.7% in the 4th quarter. Janus Henderson Group PLC now owns 1,135,100 shares of the company’s stock worth $51,455,000 after acquiring an additional 665,543 shares during the last quarter. Paradigm Biocapital Advisors LP raised its stake in Apogee Therapeutics by 82.9% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 1,283,766 shares of the company’s stock worth $58,155,000 after acquiring an additional 581,949 shares during the last quarter. Finally, Jefferies Financial Group Inc. raised its stake in Apogee Therapeutics by 140.4% in the 4th quarter. Jefferies Financial Group Inc. now owns 887,497 shares of the company’s stock worth $40,204,000 after acquiring an additional 518,300 shares during the last quarter. Hedge funds and other institutional investors own 79.04% of the company’s stock.

About Apogee Therapeutics

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.