Apogee Therapeutics (NASDAQ:APGE) Insider Carl Dambkowski Sells 5,110 Shares

Key Points

• Insider Carl Dambkowski sold 5,110 shares of Apogee Therapeutics at an average price of $39.80, totaling approximately $203,378, reducing his ownership by 1.76%.
• Apogee Therapeutics reported a quarterly EPS of ($1.13), missing analysts' expectations, and the stock has a consensus rating of "Moderate Buy" from analysts.
• Significant institutional interest is evident with 79.04% of the company's stock held by institutional investors, including recent major purchases from Octagon Capital Advisors and Wellington Management Group.

Apogee Therapeutics Inc. (NASDAQ:APGE - Get Free Report) insider Carl Dambkowski sold 5,110 shares of the business's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $39.80, for a total transaction of $203,378.00. Following the transaction, the insider directly owned 284,733 shares in the company, valued at approximately $11,332,373.40. The trade was a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Carl Dambkowski also recently made the following trade(s):

• On Wednesday, September 3rd, Carl Dambkowski sold 2,725 shares of Apogee Therapeutics stock. The stock was sold at an average price of $37.87, for a total transaction of $103,195.75.
• On Wednesday, August 6th, Carl Dambkowski sold 2,725 shares of Apogee Therapeutics stock. The stock was sold at an average price of $37.78, for a total transaction of $102,950.50.

Apogee Therapeutics Stock Up 0.7%

Shares of NASDAQ APGE traded up $0.27 during trading on Friday, reaching $39.88. 554,410 shares of the stock were exchanged, compared to its average volume of 565,041. The business's 50-day moving average price is $37.59 and its 200 day moving average price is $38.19. Apogee Therapeutics Inc. has a twelve month low of $26.20 and a twelve month high of $63.50. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of -9.66 and a beta of 1.43.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.03) by ($0.10). As a group, sell-side analysts expect that Apogee Therapeutics Inc. will post -3.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Citigroup reaffirmed a "buy" rating on shares of Apogee Therapeutics in a report on Thursday, August 28th. Bank of America upped their price target on shares of Apogee Therapeutics from $78.00 to $87.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Zacks Research cut shares of Apogee Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 14th. Guggenheim reiterated a "buy" rating and set a $116.00 target price on shares of Apogee Therapeutics in a research note on Wednesday, July 2nd. Finally, BTIG Research boosted their target price on shares of Apogee Therapeutics from $100.00 to $115.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $92.63.

Hedge Funds Weigh In On Apogee Therapeutics

Several institutional investors have recently modified their holdings of APGE. Octagon Capital Advisors LP bought a new position in shares of Apogee Therapeutics during the first quarter worth about $399,752,000. Wellington Management Group LLP grew its position in shares of Apogee Therapeutics by 21.4% during the first quarter. Wellington Management Group LLP now owns 5,485,754 shares of the company's stock worth $204,948,000 after acquiring an additional 968,391 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its position in shares of Apogee Therapeutics by 77.5% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,290,464 shares of the company's stock worth $56,045,000 after acquiring an additional 563,464 shares during the last quarter. Jefferies Financial Group Inc. grew its position in shares of Apogee Therapeutics by 52.3% during the second quarter. Jefferies Financial Group Inc. now owns 642,357 shares of the company's stock worth $27,898,000 after acquiring an additional 220,561 shares during the last quarter. Finally, Affinity Asset Advisors LLC grew its position in shares of Apogee Therapeutics by 23.6% during the first quarter. Affinity Asset Advisors LLC now owns 1,151,199 shares of the company's stock worth $43,009,000 after acquiring an additional 219,471 shares during the last quarter. Institutional investors 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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