Key Points
- CEO Michael Thomas Henderson sold 20,000 shares on March 11 at an average price of $74.78 for $1,495,600, leaving him with 1,152,987 shares (a 1.71% reduction in his position).
- This March sale follows two other recent insider disposals (20,000 shares on Feb. 11 at $63.35 and 20,000 shares on Jan. 14 at $81.11), indicating a pattern of ongoing insider selling.
- Apogee (NASDAQ:APGE) shares opened at $71.90 (down 2.2%), the company has a ~$5.0B market cap and an average analyst rating of "Moderate Buy" with a $105.82 price target, while its lead candidate APG-157 is in early-stage trials for plaque psoriasis.
Apogee Therapeutics Inc. (NASDAQ:APGE - Get Free Report) CEO Michael Thomas Henderson sold 20,000 shares of the stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $74.78, for a total transaction of $1,495,600.00. Following the transaction, the chief executive officer directly owned 1,152,987 shares in the company, valued at approximately $86,220,367.86. This represents a 1.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Michael Thomas Henderson also recently made the following trade(s):
- 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 Stock Down 2.2%
NASDAQ APGE opened at $71.90 on Friday. The company has a 50-day simple moving average of $72.21 and a two-hundred day simple moving average of $61.96. Apogee Therapeutics Inc. has a 12-month low of $26.20 and a 12-month high of $84.56. The firm has a market cap of $5.00 billion, a price-to-earnings ratio of -17.04 and a beta of 1.39.
Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last released its quarterly earnings data on Monday, March 2nd. The company reported ($1.03) EPS for the quarter, topping the consensus estimate of ($1.05) by $0.02. Equities analysts expect that Apogee Therapeutics Inc. will post -3.09 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Apogee Therapeutics
Institutional investors and hedge funds have recently bought and sold shares of the business. Los Angeles Capital Management LLC purchased a new stake in Apogee Therapeutics in the 4th quarter worth approximately $37,000. ANTIPODES PARTNERS Ltd increased its stake in shares of Apogee Therapeutics by 41.2% during the third quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company's stock valued at $33,000 after buying an additional 246 shares during the period. Seven Fleet Capital Management LP bought a new position in shares of Apogee Therapeutics during the fourth quarter valued at approximately $136,000. Ensign Peak Advisors Inc bought a new position in shares of Apogee Therapeutics during the fourth quarter valued at approximately $170,000. Finally, Quantbot Technologies LP purchased a new stake in Apogee Therapeutics in the third quarter worth $96,000. Hedge funds and other institutional investors own 79.04% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the company. Citigroup reaffirmed a "buy" rating on shares of Apogee Therapeutics in a research note on Sunday, January 25th. Wall Street Zen lowered Apogee Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, December 6th. Weiss Ratings restated a "sell (d-)" rating on shares of Apogee Therapeutics in a report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft started coverage on shares of Apogee Therapeutics in a research note on Tuesday, December 9th. They issued a "buy" rating and a $103.00 target price on the stock. Finally, BTIG Research set a $137.00 price target on shares of Apogee Therapeutics in a research report on Tuesday, January 6th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $105.82.
Get Our Latest Research Report on Apogee Therapeutics
Apogee Therapeutics Company Profile
(
Get Free Report)
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.
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