Insider Selling: Apogee Therapeutics, Inc. (NASDAQ:APGE) CEO Sells 15,000 Shares of Stock

Apogee Therapeutics, Inc. (NASDAQ:APGE) CEO Michael Thomas Henderson sold 15,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.58, for a total transaction of $698,700.00. Following the completion of the sale, the chief executive officer now directly owns 1,324,487 shares in the company, valued at $61,694,604.46. This trade represents a 1.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, November 6th, Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock. The stock was sold at an average price of $59.22, for a total value of $888,300.00.
• On Wednesday, October 2nd, Michael Thomas Henderson sold 40,000 shares of Apogee Therapeutics stock. The shares were sold at an average price of $56.23, for a total value of $2,249,200.00.

Apogee Therapeutics Price Performance

APGE stock traded up $2.81 on Friday, hitting $49.97. 438,600 shares of the company were exchanged, compared to its average volume of 499,271. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of -19.49 and a beta of 2.30. Apogee Therapeutics, Inc. has a twelve month low of $19.91 and a twelve month high of $72.29. The business’s fifty day moving average is $52.57 and its two-hundred day moving average is $48.32.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Point72 DIFC Ltd purchased a new stake in Apogee Therapeutics during the second quarter worth approximately $660,000. Point72 Asset Management L.P. boosted its position in Apogee Therapeutics by 162.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 707,268 shares of the company’s stock worth $41,545,000 after purchasing an additional 438,036 shares during the period. XTX Topco Ltd acquired a new stake in Apogee Therapeutics in the 2nd quarter valued at $706,000. Victory Capital Management Inc. raised its position in Apogee Therapeutics by 56.8% in the second quarter. Victory Capital Management Inc. now owns 156,266 shares of the company’s stock valued at $6,149,000 after purchasing an additional 56,607 shares during the period. Finally, Waypoint Capital Advisors LLC acquired a new position in shares of Apogee Therapeutics during the third quarter worth about $36,835,000. 79.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Guggenheim restated a “buy” rating and issued a $110.00 price objective (up from $95.00) on shares of Apogee Therapeutics in a research report on Tuesday. Canaccord Genuity Group began coverage on shares of Apogee Therapeutics in a research note on Monday, November 25th. They set a “buy” rating and a $89.00 price target on the stock. Canaccord Genuity Group assumed coverage on shares of Apogee Therapeutics in a research report on Monday, November 25th. They issued a “buy” rating and a $89.00 price objective for the company. Finally, Wedbush upped their price objective on shares of Apogee Therapeutics from $87.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $83.88.

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.