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

Apogee Therapeutics Inc. (NASDAQ:APGE) CEO Michael Thomas Henderson sold 20,000 shares of the firm’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $63.01, for a total value of $1,260,200.00. Following the completion of the transaction, the chief executive officer owned 1,272,987 shares of the company’s stock, valued at $80,210,910.87. This trade represents a 1.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Apogee Therapeutics Stock Performance

Apogee Therapeutics stock opened at $65.50 on Friday. The business’s 50-day simple moving average is $48.12 and its two-hundred day simple moving average is $42.26. The company has a market cap of $3.02 billion, a PE ratio of -14.95 and a beta of 1.50. Apogee Therapeutics Inc. has a fifty-two week low of $26.20 and a fifty-two week high of $67.57.

Apogee Therapeutics (NASDAQ:APGE) last released its earnings results on Monday, November 10th. The company reported ($1.11) EPS for the quarter, topping analysts’ consensus estimates of ($1.14) by $0.03. As a group, analysts predict that Apogee Therapeutics Inc. will post -3.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. BTIG Research restated a “buy” rating and set a $115.00 price objective on shares of Apogee Therapeutics in a research note on Thursday, October 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Apogee Therapeutics in a research report on Wednesday, October 8th. Zacks Research lowered shares of Apogee Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. Wedbush reaffirmed an “outperform” rating and set a $90.00 price target on shares of Apogee Therapeutics in a research report on Monday, August 11th. Finally, Wall Street Zen raised Apogee Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $96.50.

Institutional Investors Weigh In On Apogee Therapeutics

Several hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp grew its position in shares of Apogee Therapeutics by 93.3% during the 1st quarter. Bank of New York Mellon Corp now owns 214,231 shares of the company’s stock valued at $8,004,000 after acquiring an additional 103,404 shares during the period. Victory Capital Management Inc. boosted its position in Apogee Therapeutics by 4.4% during the first quarter. Victory Capital Management Inc. now owns 232,983 shares of the company’s stock worth $8,704,000 after purchasing an additional 9,921 shares in the last quarter. XTX Topco Ltd grew its holdings in Apogee Therapeutics by 170.8% in the first quarter. XTX Topco Ltd now owns 17,188 shares of the company’s stock valued at $642,000 after purchasing an additional 10,840 shares during the period. Invesco Ltd. increased its position in shares of Apogee Therapeutics by 14.4% in the first quarter. Invesco Ltd. now owns 24,310 shares of the company’s stock valued at $908,000 after buying an additional 3,054 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Apogee Therapeutics during the 1st quarter worth approximately $4,142,000. 79.04% of the stock is owned by hedge funds and other institutional investors.

About Apogee Therapeutics

Apogee Therapeutics, Inc, through its subsidiary, operates as a biotechnology company that develops biologics for the treatment of atopic dermatitis (AD), asthma, chronic obstructive pulmonary disease (COPD), and related inflammatory and immunology indications. The company primarily develops APG777, a subcutaneous (SQ) extended half-life monoclonal antibody (mAb) for AD; and APG808, an SQ extended half-life mAb for COPD.