Apogee Therapeutics, Inc. (NASDAQ:APGE) CEO Sells $698,700.00 in Stock

Apogee Therapeutics, Inc. (NASDAQ:APGE - Get Free Report) CEO Michael Thomas Henderson sold 15,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $46.58, for a total transaction of $698,700.00. Following the completion of the transaction, the chief executive officer now directly owns 1,324,487 shares in the company, valued at $61,694,604.46. This trade represents a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, November 6th, Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock. The shares were sold at an average price of $59.22, for a total transaction of $888,300.00.
• On Wednesday, October 2nd, Michael Thomas Henderson sold 40,000 shares of Apogee Therapeutics stock. The stock was sold at an average price of $56.23, for a total value of $2,249,200.00.

Apogee Therapeutics Price Performance

NASDAQ APGE traded up $2.81 on Friday, hitting $49.97. 438,600 shares of the company's stock were exchanged, compared to its average volume of 499,271. The firm's 50-day moving average price is $52.57 and its two-hundred day moving average price is $48.32. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of -19.49 and a beta of 2.30. Apogee Therapeutics, Inc. has a fifty-two week low of $19.91 and a fifty-two week high of $72.29.

Wall Street Analysts Forecast Growth

APGE has been the topic of several research analyst reports. Canaccord Genuity Group initiated coverage on Apogee Therapeutics in a research report on Monday, November 25th. They set a "buy" rating and a $89.00 price target on the stock. Wedbush increased their price target on shares of Apogee Therapeutics from $87.00 to $90.00 and gave the stock an "outperform" rating in a research note on Monday. Guggenheim restated a "buy" rating and issued a $110.00 price objective (up from $95.00) on shares of Apogee Therapeutics in a research note on Tuesday. Finally, Canaccord Genuity Group assumed coverage on shares of Apogee Therapeutics in a research note on Monday, November 25th. They set a "buy" rating and a $89.00 target price for the company. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Apogee Therapeutics currently has an average rating of "Buy" and a consensus target price of $83.88.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC grew its position in Apogee Therapeutics by 11.2% during the third quarter. Geode Capital Management LLC now owns 823,839 shares of the company's stock worth $48,401,000 after buying an additional 82,978 shares during the period. Barclays PLC boosted its stake in shares of Apogee Therapeutics by 369.2% during the 3rd quarter. Barclays PLC now owns 365,046 shares of the company's stock worth $21,443,000 after acquiring an additional 287,243 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Apogee Therapeutics by 35.7% in the 3rd quarter. Wellington Management Group LLP now owns 4,814,400 shares of the company's stock worth $282,798,000 after acquiring an additional 1,267,451 shares during the period. Wexford Capital LP purchased a new position in Apogee Therapeutics in the 3rd quarter valued at approximately $230,000. Finally, Point72 DIFC Ltd raised its holdings in Apogee Therapeutics by 14.5% during the third quarter. Point72 DIFC Ltd now owns 19,207 shares of the company's stock worth $1,128,000 after purchasing an additional 2,428 shares during the last quarter. Institutional investors and hedge funds own 79.04% of the company's stock.

Apogee Therapeutics Company Profile

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.

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