Insider Selling: Apogee Therapeutics (NASDAQ:APGE) CEO Sells $1,267,000.00 in Stock

Apogee Therapeutics Inc. (NASDAQ:APGE) CEO Michael Thomas Henderson sold 20,000 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $63.35, for a total transaction of $1,267,000.00. Following the completion of the sale, the chief executive officer directly owned 1,172,987 shares of the company’s stock, valued at $74,308,726.45. This represents a 1.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Wednesday, January 14th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The shares were sold at an average price of $81.11, for a total transaction of $1,622,200.00.
• On Wednesday, December 10th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The stock was sold at an average price of $75.38, for a total transaction of $1,507,600.00.
• On Thursday, December 4th, Michael Thomas Henderson sold 40,000 shares of Apogee Therapeutics stock. The shares were sold at an average price of $75.01, for a total value of $3,000,400.00.

Apogee Therapeutics Stock Performance

Shares of Apogee Therapeutics stock opened at $67.78 on Monday. The stock has a 50 day moving average of $74.39 and a 200 day moving average of $57.50. The firm has a market capitalization of $4.63 billion, a price-to-earnings ratio of -15.47 and a beta of 1.42. Apogee Therapeutics Inc. has a fifty-two week low of $26.20 and a fifty-two week high of $84.56.

Hedge Funds Weigh In On Apogee Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its position in shares of Apogee Therapeutics by 24.1% during the third quarter. Wellington Management Group LLP now owns 4,723,701 shares of the company’s stock worth $187,673,000 after acquiring an additional 917,991 shares during the period. UBS Group AG increased its holdings in Apogee Therapeutics by 646.1% during the 3rd quarter. UBS Group AG now owns 799,465 shares of the company’s stock worth $31,763,000 after purchasing an additional 692,308 shares during the period. Vanguard Group Inc. increased its holdings in Apogee Therapeutics by 27.3% during the 4th quarter. Vanguard Group Inc. now owns 2,857,824 shares of the company’s stock worth $215,709,000 after purchasing an additional 612,193 shares during the period. Remedium Capital Partners LLC acquired a new stake in Apogee Therapeutics in the 4th quarter valued at about $44,050,000. Finally, Jennison Associates LLC purchased a new position in shares of Apogee Therapeutics in the 4th quarter valued at about $43,675,000. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on APGE. Stephens initiated coverage on shares of Apogee Therapeutics in a research note on Tuesday, December 16th. They set an “overweight” rating and a $95.00 target price for the company. Stifel Nicolaus set a $133.00 price objective on shares of Apogee Therapeutics in a report on Tuesday, January 6th. Craig Hallum reaffirmed a “buy” rating and set a $116.00 price objective on shares of Apogee Therapeutics in a research report on Wednesday, January 7th. Mizuho initiated coverage on Apogee Therapeutics in a research report on Tuesday, October 21st. They issued an “outperform” rating and a $105.00 target price on the stock. Finally, Jefferies Financial Group restated a “buy” rating and set a $95.00 price target on shares of Apogee Therapeutics in a research report on Monday, February 2nd. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $104.58.

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.