Insider Selling: Apogee Therapeutics (NASDAQ:APGE) Insider Sells $3,500,640.00 in Stock

Apogee Therapeutics Inc. (NASDAQ:APGE) insider Carl Dambkowski sold 26,400 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $132.60, for a total value of $3,500,640.00. Following the transaction, the insider owned 179,248 shares of the company’s stock, valued at $23,768,284.80. This trade represents a 12.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, June 3rd, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The stock was sold at an average price of $78.71, for a total transaction of $432,905.00.
• 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 shares were sold at an average price of $84.84, for a total transaction of $466,620.00.

Apogee Therapeutics Trading Down 0.1%

APGE traded down $0.19 during trading hours on Wednesday, hitting $132.69. 7,739,634 shares of the company’s stock were exchanged, compared to its average volume of 4,765,024. Apogee Therapeutics Inc. has a 12-month low of $34.34 and a 12-month high of $133.16. The firm has a market cap of $8.21 billion, a P/E ratio of -30.64 and a beta of 0.62. The firm has a 50 day moving average of $87.67 and a 200 day moving average of $79.27.

Apogee Therapeutics (NASDAQ:APGE) last posted 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. As a group, research analysts expect that Apogee Therapeutics Inc. will post -4.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on APGE shares. Stifel Nicolaus reaffirmed a “hold” rating and issued a $135.00 price target (up from $133.00) on shares of Apogee Therapeutics in a research report on Wednesday. TD Cowen downgraded Apogee Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Apogee Therapeutics in a research note on Monday, April 20th. BTIG Research reaffirmed a “buy” rating and issued a $137.00 target price on shares of Apogee Therapeutics in a report on Wednesday, May 27th. Finally, Craig Hallum set a $135.11 price target on shares of Apogee Therapeutics and gave the stock a “hold” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Apogee Therapeutics has an average rating of “Hold” and a consensus target price of $121.25.

Institutional Trading of Apogee Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of APGE. Rockefeller Capital Management L.P. purchased a new stake in Apogee Therapeutics during the 4th quarter worth about $25,000. Los Angeles Capital Management LLC purchased a new position in shares of Apogee Therapeutics in the 4th quarter valued at about $37,000. EverSource Wealth Advisors LLC increased its holdings in shares of Apogee Therapeutics by 61.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company’s stock valued at $54,000 after acquiring an additional 246 shares during the last quarter. Seven Fleet Capital Management LP acquired a new stake in shares of Apogee Therapeutics during the 4th quarter worth about $136,000. Finally, Ensign Peak Advisors Inc acquired a new stake in shares of Apogee Therapeutics during the 4th quarter worth about $170,000. 79.04% of the stock is currently owned by institutional investors and hedge funds.

Apogee Therapeutics News Summary

Here are the key news stories impacting Apogee Therapeutics this week:

• Positive Sentiment: Apogee Therapeutics announced a proposed sale to AbbVie for $135.11 per share in cash, reinforcing the takeover premium and likely supporting the stock price. Article Title
• Neutral Sentiment: Stifel reiterated a hold rating and lifted its price target to $135, suggesting the shares are already close to fair value at the deal price. Article Title
• Neutral Sentiment: Citi downgraded the stock to neutral/hold while also raising its target to $135, reflecting a more cautious stance but still near the acquisition value. Article Title
• Neutral Sentiment: Unusual options activity showed heavy put buying, which may indicate some hedging or concern about deal execution risk. Article Title
• Negative Sentiment: A law firm launched an investigation into the adequacy of the proposed sale price and process, which could add legal overhang and uncertainty around the transaction. Article Title

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.