Insider Selling: Apogee Therapeutics (NASDAQ:APGE) CEO Sells $3,000,400.00 in Stock

Apogee Therapeutics Inc. (NASDAQ:APGE) CEO Michael Thomas Henderson sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $75.01, for a total value of $3,000,400.00. Following the sale, the chief executive officer directly owned 1,232,987 shares of the company’s stock, valued at $92,486,354.87. This represents a 3.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Thursday, November 13th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The shares were sold at an average price of $63.01, for a total value of $1,260,200.00.

Apogee Therapeutics Stock Up 1.7%

Shares of NASDAQ:APGE opened at $76.75 on Monday. The business’s 50 day moving average is $57.59 and its 200 day moving average is $45.50. Apogee Therapeutics Inc. has a 12-month low of $26.20 and a 12-month high of $77.09. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of -17.52 and a beta of 1.40.

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on APGE. Royal Bank Of Canada boosted their price target on shares of Apogee Therapeutics from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. Bank of America boosted their target price on Apogee Therapeutics from $78.00 to $87.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Wall Street Zen downgraded Apogee Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. BTIG Research reiterated a “buy” rating and set a $115.00 price target on shares of Apogee Therapeutics in a report on Thursday, October 9th. Finally, Mizuho assumed coverage on Apogee Therapeutics in a research note on Tuesday, October 21st. They issued an “outperform” rating and a $105.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.38.

Institutional Trading of Apogee Therapeutics

A number of large investors have recently bought and sold shares of the company. Verition Fund Management LLC bought a new stake in shares of Apogee Therapeutics in the third quarter valued at $1,968,000. Vestal Point Capital LP purchased a new stake in Apogee Therapeutics in the 3rd quarter worth about $16,885,000. Polar Capital Holdings Plc raised its stake in Apogee Therapeutics by 5.9% in the 3rd quarter. Polar Capital Holdings Plc now owns 524,094 shares of the company’s stock valued at $20,822,000 after acquiring an additional 29,094 shares during the period. Prelude Capital Management LLC purchased a new stake in Apogee Therapeutics during the third quarter valued at about $1,043,000. Finally, Paradigm Biocapital Advisors LP boosted its position in Apogee Therapeutics by 58.7% during the third quarter. Paradigm Biocapital Advisors LP now owns 1,521,757 shares of the company’s stock worth $60,459,000 after purchasing an additional 563,127 shares during the period. 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.