Key Points
- Apogee Therapeutics CEO Michael Thomas Henderson sold 20,000 shares on May 13 at an average price of $82.09, totaling about $1.64 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- This was not an isolated move: Henderson also sold 20,000 shares on both April 8 and March 11, indicating a series of scheduled insider sales.
- Apogee reported a narrower-than-expected quarterly loss of ($1.06) EPS versus consensus for ($1.07), while analysts maintain a Moderate Buy rating with an average price target of $112.73.
Apogee Therapeutics Inc. (NASDAQ:APGE - Get Free Report) CEO Michael Thomas Henderson sold 20,000 shares of the company's stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $82.09, for a total value of $1,641,800.00. Following the completion of the sale, the chief executive officer owned 1,115,987 shares in the company, valued at $91,611,372.83. This represents a 1.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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, April 8th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The shares were sold at an average price of $82.58, for a total value of $1,651,600.00.
- On Wednesday, March 11th, Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock. The shares were sold at an average price of $74.78, for a total value of $1,495,600.00.
Apogee Therapeutics Stock Down 3.3%
NASDAQ:APGE opened at $81.14 on Friday. The stock's 50 day moving average price is $81.24 and its two-hundred day moving average price is $74.08. The firm has a market capitalization of $5.02 billion, a price-to-earnings ratio of -18.74 and a beta of 0.69. Apogee Therapeutics Inc. has a 12-month low of $34.34 and a 12-month high of $95.32.
Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The company reported ($1.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.07) by $0.01. Equities research analysts expect that Apogee Therapeutics Inc. will post -4.44 EPS for the current year.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the company. Rothschild & Co Redburn assumed coverage on Apogee Therapeutics in a research report on Friday, May 1st. They issued a "buy" rating and a $140.00 target price on the stock. Guggenheim upped their target price on Apogee Therapeutics from $130.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, March 24th. Truist Financial assumed coverage on Apogee Therapeutics in a research report on Tuesday, March 17th. They issued a "hold" rating and a $83.00 target price on the stock. Jefferies Financial Group reaffirmed a "buy" rating and issued a $95.00 target price on shares of Apogee Therapeutics in a research report on Monday, February 2nd. Finally, Canaccord Genuity Group upped their target price on Apogee Therapeutics from $89.00 to $130.00 and gave the company a "buy" rating in a research report on Tuesday, March 24th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $112.73.
Check Out Our Latest Report on APGE
Hedge Funds Weigh In On Apogee Therapeutics
Several institutional investors and hedge funds have recently made changes to their positions in APGE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Apogee Therapeutics by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,529 shares of the company's stock valued at $921,000 after purchasing an additional 694 shares during the last quarter. Millennium Management LLC grew its position in Apogee Therapeutics by 100.0% during the first 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 in the last quarter. Creative Planning acquired a new stake in Apogee Therapeutics during the second quarter worth approximately $392,000. Legal & General Group Plc grew its position in Apogee Therapeutics by 7.4% during the second 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 in the last quarter. Finally, Russell Investments Group Ltd. grew its position in Apogee Therapeutics by 10,570.6% during the second 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 in the last quarter. Institutional investors and hedge funds own 79.04% of the company's stock.
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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