Key Points
- Insider sale: Apogee Therapeutics insider Carl Dambkowski sold 5,500 shares on May 6 at an average price of $84.14, totaling about $462,770. The sale was made under a pre-arranged Rule 10b5-1 plan and reduced his holdings by 2.59%.
- Stock and earnings context: APGE stock was up 1.5% and opened at $83.03, near its 12-month high of $95.32. The company recently reported a quarterly loss of $1.03 per share, slightly better than analysts expected.
- Analyst sentiment remains positive: Wall Street broadly maintains a Moderate Buy view on Apogee Therapeutics, with a consensus target price of $112.73. Several firms, including Jefferies and Rothschild & Co Redburn, reiterated or initiated bullish ratings.
Apogee Therapeutics Inc. (NASDAQ:APGE - Get Free Report) insider Carl Dambkowski sold 5,500 shares of the firm's stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $84.14, for a total value of $462,770.00. Following the transaction, the insider directly owned 207,023 shares of the company's stock, valued at approximately $17,418,915.22. This trade represents a 2.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Carl Dambkowski also recently made the following trade(s):
- On Wednesday, April 1st, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The shares were sold at an average price of $84.84, for a total value of $466,620.00.
- On Wednesday, March 4th, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The shares were sold at an average price of $71.06, for a total value of $390,830.00.
Apogee Therapeutics Stock Up 1.5%
APGE stock opened at $83.03 on Friday. Apogee Therapeutics Inc. has a twelve month low of $34.34 and a twelve month high of $95.32. The firm has a market cap of $5.14 billion, a PE ratio of -19.68 and a beta of 0.69. The business has a 50 day moving average of $79.69 and a 200 day moving average of $73.01.
Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last posted its quarterly earnings data on Monday, March 2nd. The company reported ($1.03) earnings per share for the quarter, beating analysts' consensus estimates of ($1.05) by $0.02. On average, research analysts expect that Apogee Therapeutics Inc. will post -4.57 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several brokerages have commented on APGE. Jefferies Financial Group reiterated a "buy" rating and set a $95.00 target price on shares of Apogee Therapeutics in a research note on Monday, February 2nd. Rothschild & Co Redburn began coverage on Apogee Therapeutics in a research note on Friday, May 1st. They set a "buy" rating and a $140.00 target price on the stock. Wedbush increased their target price on Apogee Therapeutics from $90.00 to $95.00 and gave the company an "outperform" rating in a research note on Tuesday, March 3rd. Mizuho increased their target price on Apogee Therapeutics from $105.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, March 30th. Finally, Canaccord Genuity Group increased their target price on Apogee Therapeutics from $89.00 to $130.00 and gave the company a "buy" rating in a research note on Tuesday, March 24th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $112.73.
Read Our Latest Stock Report on Apogee Therapeutics
Institutional Trading of Apogee Therapeutics
Several institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Apogee Therapeutics by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,529 shares of the company's stock worth $921,000 after buying an additional 694 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Apogee Therapeutics by 100.0% in the 1st quarter. Millennium Management LLC now owns 260,335 shares of the company's stock worth $9,726,000 after buying an additional 130,164 shares during the last quarter. Creative Planning purchased a new position in shares of Apogee Therapeutics in the 2nd quarter worth $392,000. Legal & General Group Plc boosted its stake in shares of Apogee Therapeutics by 7.4% in the 2nd quarter. Legal & General Group Plc now owns 27,689 shares of the company's stock worth $1,203,000 after buying an additional 1,907 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Apogee Therapeutics by 10,570.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 21,768 shares of the company's stock worth $945,000 after buying an additional 21,564 shares during the last quarter. 79.04% of the stock is currently owned by hedge funds and other institutional investors.
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
