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 business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $83.38, for a total value of $1,667,600.00. Following the completion of the sale, the chief executive officer owned 1,095,987 shares of the company’s stock, valued at approximately $91,383,396.06. This trade represents a 1.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 value 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 value of $1,651,600.00.

Apogee Therapeutics Stock Down 1.3%

Shares of NASDAQ APGE opened at $88.33 on Friday. The business’s 50 day moving average is $84.47 and its two-hundred day moving average is $77.33. The company has a market cap of $5.47 billion, a P/E ratio of -20.40 and a beta of 0.62. Apogee Therapeutics Inc. has a 12 month low of $34.34 and a 12 month high of $95.32.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings results on Monday, May 11th. The company reported ($1.06) EPS for the quarter, topping the consensus estimate of ($1.07) by $0.01. Sell-side analysts expect that Apogee Therapeutics Inc. will post -4.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on APGE. Truist Financial lowered their price objective on Apogee Therapeutics from $83.00 to $81.00 and set a “hold” rating on the stock in a research report on Wednesday, May 27th. Royal Bank Of Canada boosted their price objective on Apogee Therapeutics from $82.00 to $97.00 and gave the company a “sector perform” rating in a research report on Monday, June 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Apogee Therapeutics in a research report on Monday, April 20th. Citigroup boosted their price objective on Apogee Therapeutics from $95.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Finally, Wedbush boosted their price objective on Apogee Therapeutics from $120.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $114.56.

Institutional Trading of Apogee Therapeutics

A number of large investors have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. acquired a new position in Apogee Therapeutics in the fourth quarter worth $25,000. ANTIPODES PARTNERS Ltd boosted its stake in Apogee Therapeutics by 41.2% in the third quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company’s stock worth $33,000 after purchasing an additional 246 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Apogee Therapeutics in the fourth quarter worth $37,000. EverSource Wealth Advisors LLC boosted its stake in Apogee Therapeutics by 61.7% in 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 in the last quarter. Finally, Quantbot Technologies LP acquired a new position in Apogee Therapeutics in the third quarter worth $96,000. 79.04% of the stock is currently owned by institutional investors.

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.