Key Points
- Insider sale: Apogee Therapeutics insider Carl Dambkowski sold 5,500 shares on July 1 at an average price of $132.74, totaling about $730,070. The transaction was part of a pre-arranged Rule 10b5-1 plan, and his position fell by 3%.
- Recent selling activity: Dambkowski has also sold additional shares in recent weeks, including 26,400 shares on June 22 and 5,500 shares on both June 3 and May 6. These trades suggest a pattern of ongoing insider selling.
- Stock and analyst backdrop: APGE recently traded near its 52-week high at $132.91, giving the company a market cap of about $8.23 billion. Analysts currently have a Hold consensus on the stock, with an average target price of $121.25.
Apogee Therapeutics Inc. (NASDAQ:APGE - Get Free Report) insider Carl Dambkowski sold 5,500 shares of the company's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $132.74, for a total transaction of $730,070.00. Following the transaction, the insider owned 177,873 shares in the company, valued at $23,610,862.02. The trade was a 3.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 Monday, June 22nd, Carl Dambkowski sold 26,400 shares of Apogee Therapeutics stock. The stock was sold at an average price of $132.60, for a total transaction of $3,500,640.00.
- On Wednesday, June 3rd, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The shares were sold at an average price of $78.71, for a total transaction of $432,905.00.
- On Wednesday, May 6th, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The shares were sold at an average price of $84.14, for a total value of $462,770.00.
Apogee Therapeutics Price Performance
NASDAQ APGE opened at $132.91 on Friday. The company has a market cap of $8.23 billion, a price-to-earnings ratio of -30.70 and a beta of 0.32. The stock's fifty day moving average price is $92.75 and its 200 day moving average price is $81.66. Apogee Therapeutics Inc. has a 1 year low of $34.34 and a 1 year high of $133.85.
Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported ($1.06) EPS for the quarter, topping analysts' consensus estimates of ($1.07) by $0.01. Research analysts expect that Apogee Therapeutics Inc. will post -4.45 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on APGE. Stifel Nicolaus reaffirmed a "hold" rating and set a $135.00 target price (up from $133.00) on shares of Apogee Therapeutics in a report on Wednesday, June 24th. Wedbush lowered shares of Apogee Therapeutics from an "outperform" rating to a "neutral" rating and set a $135.00 price target for the company. in a research report on Monday, June 22nd. Truist Financial decreased their price objective on shares of Apogee Therapeutics from $83.00 to $81.00 and set a "hold" rating for the company in a research note on Wednesday, May 27th. Craig Hallum set a $135.11 price objective on shares of Apogee Therapeutics and gave the company a "hold" rating in a report on Monday, June 22nd. Finally, Canaccord Genuity Group lowered shares of Apogee Therapeutics from a "buy" rating to a "hold" rating and increased their price objective for the stock from $130.00 to $135.11 in a research note on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $121.25.
Read Our Latest Research Report on Apogee Therapeutics
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC grew its position in shares of Apogee Therapeutics by 2.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 7,151 shares of the company's stock valued at $540,000 after purchasing an additional 152 shares during the period. Seven Fleet Capital Management LP increased its stake in shares of Apogee Therapeutics by 9.4% during the first quarter. Seven Fleet Capital Management LP now owns 1,969 shares of the company's stock worth $166,000 after purchasing an additional 169 shares in the last quarter. Stifel Financial Corp raised its position in shares of Apogee Therapeutics by 3.5% during the 4th quarter. Stifel Financial Corp now owns 5,214 shares of the company's stock worth $394,000 after purchasing an additional 175 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Apogee Therapeutics by 61.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company's stock worth $54,000 after purchasing an additional 246 shares during the last quarter. Finally, Rockefeller Capital Management L.P. purchased a new position in Apogee Therapeutics in the 4th quarter valued at about $25,000. 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.
Further Reading
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].
