Apogee Therapeutics (NASDAQ:APGE) Insider Carl Dambkowski Sells 5,500 Shares

Apogee Therapeutics Inc. (NASDAQ:APGE) insider Carl Dambkowski sold 5,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $78.71, for a total transaction of $432,905.00. Following the sale, the insider owned 205,648 shares in the company, valued at $16,186,554.08. This trade represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carl Dambkowski also recently made the following trade(s):

• On Wednesday, May 6th, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The stock was sold at an average price of $84.14, for a total transaction of $462,770.00.
• On Wednesday, April 1st, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The stock was sold at an average price of $84.84, for a total transaction of $466,620.00.

Apogee Therapeutics Stock Performance

APGE stock traded down $3.98 during mid-day trading on Friday, hitting $86.92. 1,307,795 shares of the company were exchanged, compared to its average volume of 960,007. Apogee Therapeutics Inc. has a 1-year low of $34.34 and a 1-year high of $95.32. The firm has a market cap of $5.38 billion, a P/E ratio of -20.07 and a beta of 0.62. The firm’s 50 day simple moving average is $83.96 and its 200 day simple moving average is $76.58.

Apogee Therapeutics (NASDAQ:APGE) last posted its quarterly earnings data 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 predict that Apogee Therapeutics Inc. will post -4.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Apogee Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APGE. Rockefeller Capital Management L.P. bought a new position in Apogee Therapeutics during the fourth quarter worth $25,000. ANTIPODES PARTNERS Ltd boosted its position in Apogee Therapeutics by 41.2% during the third quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company’s stock worth $33,000 after purchasing an additional 246 shares during the period. Los Angeles Capital Management LLC bought a new position in Apogee Therapeutics during the fourth quarter worth $37,000. EverSource Wealth Advisors LLC boosted its position in Apogee Therapeutics by 61.7% during the first quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company’s stock worth $54,000 after purchasing an additional 246 shares during the period. Finally, Quantbot Technologies LP bought a new position in Apogee Therapeutics during the third quarter worth $96,000. 79.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on APGE shares. BTIG Research reiterated a “buy” rating and issued a $137.00 price objective on shares of Apogee Therapeutics in a report on Wednesday, May 27th. Citigroup lifted their price objective on shares of Apogee Therapeutics from $95.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Canaccord Genuity Group lifted their price objective on shares of Apogee Therapeutics from $89.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Mizuho lifted their price objective on shares of Apogee Therapeutics from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, March 30th. Finally, Wedbush lifted their price objective on shares of Apogee Therapeutics from $120.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $113.63.

About Apogee Therapeutics

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.