Apogee Therapeutics (NASDAQ:APGE) CEO Michael Thomas Henderson Sells 20,000 Shares

Apogee Therapeutics Inc. (NASDAQ:APGE) CEO Michael Thomas Henderson sold 20,000 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $83.38, for a total transaction of $1,667,600.00. Following the sale, the chief executive officer directly owned 1,095,987 shares in the company, valued at $91,383,396.06. This trade represents a 1.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, May 13th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The stock was sold at an average price of $82.09, for a total transaction of $1,641,800.00.
• On Wednesday, April 8th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The stock was sold at an average price of $82.58, for a total transaction of $1,651,600.00.

Apogee Therapeutics Stock Down 1.3%

APGE stock opened at $88.33 on Friday. Apogee Therapeutics Inc. has a fifty-two week low of $34.34 and a fifty-two week high of $95.32. The firm’s 50-day simple moving average is $84.47 and its 200 day simple moving average is $77.33. The stock has a market cap of $5.47 billion, a PE ratio of -20.40 and a beta of 0.62.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Citigroup increased their price objective on shares of Apogee Therapeutics from $95.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Canaccord Genuity Group increased their target price on shares of Apogee Therapeutics from $89.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Apogee Therapeutics in a research report on Monday, April 20th. BTIG Research reaffirmed a “buy” rating and set a $137.00 price objective on shares of Apogee Therapeutics in a research note on Wednesday, May 27th. Finally, The Goldman Sachs Group set a $89.00 price target on shares of Apogee Therapeutics in a research report on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.56.

Institutional Trading of Apogee Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. raised its position in Apogee Therapeutics by 189,522.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,732,456 shares of the company’s stock valued at $206,246,000 after acquiring an additional 2,731,015 shares in the last quarter. Janus Henderson Group PLC raised its position in Apogee Therapeutics by 324.4% during the fourth quarter. Janus Henderson Group PLC now owns 2,062,604 shares of the company’s stock valued at $155,697,000 after acquiring an additional 1,576,626 shares in the last quarter. Perceptive Advisors LLC raised its position in Apogee Therapeutics by 72.4% during the fourth quarter. Perceptive Advisors LLC now owns 2,330,651 shares of the company’s stock valued at $175,918,000 after acquiring an additional 978,662 shares in the last quarter. Wellington Management Group LLP raised its position in Apogee Therapeutics by 24.1% during the third quarter. Wellington Management Group LLP now owns 4,723,701 shares of the company’s stock valued at $187,673,000 after acquiring an additional 917,991 shares in the last quarter. Finally, UBS Group AG raised its position in Apogee Therapeutics by 646.1% during the third quarter. UBS Group AG now owns 799,465 shares of the company’s stock valued at $31,763,000 after acquiring an additional 692,308 shares in the last quarter. 79.04% of the stock is owned by hedge funds and other institutional investors.

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.