Insider Selling: Apogee Therapeutics, Inc. (NASDAQ:APGE) CEO Sells $608,700.00 in Stock

Apogee Therapeutics, Inc. (NASDAQ:APGE) CEO Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $40.58, for a total value of $608,700.00. Following the sale, the chief executive officer now directly owns 1,302,987 shares of the company’s stock, valued at $52,875,212.46. This represents a 1.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Wednesday, January 8th, Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock. The shares were sold at an average price of $48.85, for a total value of $732,750.00.
• On Wednesday, December 4th, Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock. The shares were sold at an average price of $46.58, for a total value of $698,700.00.

Apogee Therapeutics Stock Performance

APGE stock opened at $39.72 on Monday. The firm has a market cap of $1.79 billion, a P/E ratio of -16.41 and a beta of 2.18. The firm’s fifty day moving average is $44.25 and its 200 day moving average is $48.52. Apogee Therapeutics, Inc. has a 52 week low of $33.14 and a 52 week high of $72.29.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.13). As a group, analysts forecast that Apogee Therapeutics, Inc. will post -3.09 EPS for the current year.

Hedge Funds Weigh In On Apogee Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC purchased a new stake in shares of Apogee Therapeutics during the second quarter valued at approximately $454,000. SG Americas Securities LLC bought a new stake in Apogee Therapeutics during the 3rd quarter valued at $475,000. Handelsbanken Fonder AB boosted its position in Apogee Therapeutics by 25.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 8,800 shares of the company’s stock valued at $517,000 after buying an additional 1,800 shares during the period. Waypoint Capital Advisors LLC purchased a new stake in Apogee Therapeutics during the 3rd quarter valued at $36,835,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Apogee Therapeutics by 21.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company’s stock worth $94,000 after acquiring an additional 285 shares during the last quarter. 79.04% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

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.