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 Apogee Therapeutics stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $48.85, for a total value of $732,750.00. Following the completion of the sale, the chief executive officer now directly owns 1,309,487 shares of the company’s stock, valued at approximately $63,968,439.95. This represents a 1.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, December 4th, Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock. The stock was sold at an average price of $46.58, for a total value of $698,700.00.
• On Wednesday, November 6th, Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock. The shares were sold at an average price of $59.22, for a total transaction of $888,300.00.

Apogee Therapeutics Trading Down 16.6 %

NASDAQ:APGE opened at $41.05 on Friday. The firm’s fifty day simple moving average is $48.70 and its 200 day simple moving average is $48.90. Apogee Therapeutics, Inc. has a twelve month low of $30.84 and a twelve month high of $72.29. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of -16.96 and a beta of 2.26.

Analysts Set New Price Targets

A number of research firms recently issued reports on APGE. Canaccord Genuity Group assumed coverage on shares of Apogee Therapeutics in a report on Monday, November 25th. They issued a “buy” rating and a $89.00 target price for the company. Wedbush boosted 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, December 2nd. Guggenheim reaffirmed a “buy” rating on shares of Apogee Therapeutics in a research report on Thursday, December 12th. Finally, Canaccord Genuity Group assumed coverage on Apogee Therapeutics in a research report on Monday, November 25th. They set a “buy” rating and a $89.00 price target for the company. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Apogee Therapeutics presently has an average rating of “Buy” and an average target price of $89.71.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP grew its stake in shares of Apogee Therapeutics by 35.7% in the third quarter. Wellington Management Group LLP now owns 4,814,400 shares of the company’s stock valued at $282,798,000 after buying an additional 1,267,451 shares in the last quarter. Driehaus Capital Management LLC boosted its holdings in Apogee Therapeutics by 2.6% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,117,870 shares of the company’s stock worth $83,338,000 after acquiring an additional 54,107 shares during the period. Perceptive Advisors LLC grew its position in Apogee Therapeutics by 2.2% in the second quarter. Perceptive Advisors LLC now owns 2,105,636 shares of the company’s stock valued at $82,857,000 after acquiring an additional 45,241 shares in the last quarter. Affinity Asset Advisors LLC raised its stake in shares of Apogee Therapeutics by 41.2% during the second quarter. Affinity Asset Advisors LLC now owns 836,283 shares of the company’s stock valued at $32,908,000 after purchasing an additional 244,190 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Apogee Therapeutics by 11.2% during the third quarter. Geode Capital Management LLC now owns 823,839 shares of the company’s stock worth $48,401,000 after purchasing an additional 82,978 shares in the last quarter. Institutional investors and hedge funds own 79.04% of the company’s stock.

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.