Insider Selling: Apogee Therapeutics (NASDAQ:APGE) Insider Sells $730,070.00 in Stock

Apogee Therapeutics Inc. (NASDAQ:APGE) insider Carl Dambkowski sold 5,500 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $132.74, for a total value of $730,070.00. Following the transaction, the insider directly owned 177,873 shares of the company’s stock, valued at approximately $23,610,862.02. The trade was a 3.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, June 22nd, Carl Dambkowski sold 26,400 shares of Apogee Therapeutics stock. The stock was sold at an average price of $132.60, for a total value of $3,500,640.00.
• On Wednesday, June 3rd, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The shares were sold at an average price of $78.71, for a total value of $432,905.00.
• On Wednesday, May 6th, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The shares were sold at an average price of $84.14, for a total transaction of $462,770.00.

Apogee Therapeutics Trading Up 0.1%

APGE traded up $0.14 during trading hours on Thursday, hitting $132.91. The company’s stock had a trading volume of 2,998,800 shares, compared to its average volume of 5,794,422. The business’s 50-day moving average price is $92.75 and its 200-day moving average price is $81.66. Apogee Therapeutics Inc. has a 12 month low of $34.34 and a 12 month high of $133.85. The stock has a market cap of $8.23 billion, a price-to-earnings ratio of -30.70 and a beta of 0.32.

Apogee Therapeutics (NASDAQ:APGE) last released its quarterly earnings data on Monday, May 11th. The company reported ($1.06) EPS for the quarter, beating the consensus estimate of ($1.07) by $0.01. On average, analysts forecast that Apogee Therapeutics Inc. will post -4.45 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Apogee Therapeutics in a research report on Monday, April 20th. TD Cowen cut Apogee Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft lowered Apogee Therapeutics from a “buy” rating to a “hold” rating and increased their price target for the company from $116.00 to $135.00 in a report on Monday, June 22nd. Canaccord Genuity Group lowered shares of Apogee Therapeutics from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $130.00 to $135.11 in a research note on Monday, June 22nd. Finally, Mizuho reiterated a “neutral” rating and set a $135.00 price objective (up from $110.00) on shares of Apogee Therapeutics in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $121.25.

Institutional Trading of Apogee Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Apogee Therapeutics by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,529 shares of the company’s stock worth $921,000 after acquiring an additional 694 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Apogee Therapeutics by 100.0% during the first quarter. Millennium Management LLC now owns 260,335 shares of the company’s stock worth $9,726,000 after purchasing an additional 130,164 shares during the last quarter. Creative Planning acquired a new position in Apogee Therapeutics during the second quarter valued at $392,000. Legal & General Group Plc boosted its holdings in Apogee Therapeutics by 7.4% in the second quarter. Legal & General Group Plc now owns 27,689 shares of the company’s stock valued at $1,203,000 after purchasing an additional 1,907 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in Apogee Therapeutics by 10,570.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 21,768 shares of the company’s stock worth $945,000 after purchasing an additional 21,564 shares during the period. Institutional investors own 79.04% of the company’s stock.

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.