Apogee Therapeutics, Inc. (NASDAQ:APGE) CEO Sells $608,700.00 in Stock

Apogee Therapeutics, Inc. (NASDAQ:APGE - Get Free Report) CEO Michael Thomas Henderson sold 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $40.58, for a total transaction of $608,700.00. Following the transaction, the chief executive officer now directly owns 1,302,987 shares in the company, valued at $52,875,212.46. This represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Wednesday, January 8th, Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock. The stock was sold at an average price of $48.85, for a total transaction of $732,750.00.
• 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 transaction of $698,700.00.

Apogee Therapeutics Stock Performance

Shares of NASDAQ:APGE traded down $3.89 during midday trading on Tuesday, hitting $35.46. 633,966 shares of the stock were exchanged, compared to its average volume of 512,348. The business's 50-day moving average price is $44.11 and its 200 day moving average price is $48.45. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -14.69 and a beta of 2.18. Apogee Therapeutics, Inc. has a 12 month low of $33.14 and a 12 month high of $72.29.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.73) by ($0.13). As a group, sell-side analysts expect that Apogee Therapeutics, Inc. will post -3.09 EPS for the current year.

Institutional Trading of Apogee Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Apogee Therapeutics in the third quarter valued at about $71,000. Mirae Asset Global Investments Co. Ltd. increased its position in Apogee Therapeutics by 21.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company's stock valued at $94,000 after purchasing an additional 285 shares during the period. Wexford Capital LP bought a new position in Apogee Therapeutics during the 3rd quarter worth approximately $230,000. Aigen Investment Management LP acquired a new position in shares of Apogee Therapeutics in the 4th quarter worth approximately $216,000. Finally, Commonwealth Equity Services LLC bought a new stake in shares of Apogee Therapeutics in the 4th quarter valued at $222,000. 79.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the stock. Canaccord Genuity Group started coverage on shares of Apogee Therapeutics in a research report on Monday, November 25th. They set a "buy" rating and a $89.00 price objective for the company. Guggenheim restated a "buy" rating on shares of Apogee Therapeutics in a research report on Monday. Wedbush lifted their target price on Apogee Therapeutics from $87.00 to $90.00 and gave the company an "outperform" rating in a research report on Monday, December 2nd. Finally, 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. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $89.71.

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.