Insider Selling: Apogee Therapeutics (NASDAQ:APGE) CEO Sells 20,000 Shares of Stock
by Mitch Edgeman · The Markets DailyApogee Therapeutics Inc. (NASDAQ:APGE – Get Free Report) CEO Michael Thomas Henderson sold 20,000 shares of the business’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $82.58, for a total transaction of $1,651,600.00. Following the transaction, the chief executive officer owned 1,132,987 shares in the company, valued at approximately $93,562,066.46. This trade represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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, March 11th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The stock was sold at an average price of $74.78, for a total transaction of $1,495,600.00.
- On Wednesday, February 11th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The stock was sold at an average price of $63.35, for a total transaction of $1,267,000.00.
- On Wednesday, January 14th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The stock was sold at an average price of $81.11, for a total transaction of $1,622,200.00.
Apogee Therapeutics Trading Down 0.3%
Shares of Apogee Therapeutics stock traded down $0.25 on Friday, reaching $86.27. 397,257 shares of the stock were exchanged, compared to its average volume of 1,236,668. Apogee Therapeutics Inc. has a 1-year low of $28.60 and a 1-year high of $88.35. The business has a fifty day moving average price of $72.90 and a two-hundred day moving average price of $67.65. The firm has a market capitalization of $5.99 billion, a PE ratio of -20.44 and a beta of 1.02.
Apogee Therapeutics (NASDAQ:APGE – Get Free Report) last issued its quarterly earnings results on Monday, March 2nd. The company reported ($1.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.02. Research analysts expect that Apogee Therapeutics Inc. will post -3.09 EPS for the current year.
Wall Street Analyst Weigh In
Several brokerages have weighed in on APGE. Canaccord Genuity Group upped their target price on shares of Apogee Therapeutics from $89.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Truist Financial began coverage on shares of Apogee Therapeutics in a research report on Tuesday, March 17th. They set a “hold” rating and a $83.00 target price on the stock. Wedbush upped their target price on shares of Apogee Therapeutics from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 3rd. Guggenheim upped their target price on shares of Apogee Therapeutics from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Finally, UBS Group upgraded shares of Apogee Therapeutics to a “strong-buy” rating in a research report on Wednesday, January 7th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Apogee Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $110.79.
Read Our Latest Analysis on APGE
Institutional Trading of Apogee Therapeutics
Several large investors have recently modified their holdings of APGE. T. Rowe Price Investment Management Inc. grew its position in shares of Apogee Therapeutics by 189,522.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,732,456 shares of the company’s stock valued at $206,246,000 after purchasing an additional 2,731,015 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Apogee Therapeutics by 324.4% in the fourth quarter. Janus Henderson Group PLC now owns 2,062,604 shares of the company’s stock valued at $155,697,000 after purchasing an additional 1,576,626 shares during the last quarter. Perceptive Advisors LLC grew its position in shares of Apogee Therapeutics by 72.4% in the fourth quarter. Perceptive Advisors LLC now owns 2,330,651 shares of the company’s stock valued at $175,918,000 after purchasing an additional 978,662 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Apogee Therapeutics by 24.1% in the third quarter. Wellington Management Group LLP now owns 4,723,701 shares of the company’s stock valued at $187,673,000 after purchasing an additional 917,991 shares during the last quarter. Finally, UBS Group AG grew its position in shares of Apogee Therapeutics by 646.1% in the third quarter. UBS Group AG now owns 799,465 shares of the company’s stock valued at $31,763,000 after purchasing an additional 692,308 shares during the last quarter. 79.04% of the stock is currently owned by institutional investors and hedge funds.
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.