Apogee Therapeutics (NASDAQ:APGE) Insider Carl Dambkowski Sells 5,500 Shares

Key Points

• Insider sale: Apogee Therapeutics insider Carl Dambkowski sold 5,500 shares on May 6 at an average price of $84.14, totaling $462,770. The trade was made under a pre-arranged Rule 10b5-1 plan.
• Recent selling trend: Dambkowski also sold 5,500 shares in both March and April, indicating a series of planned share reductions rather than a one-time transaction.
• Stock and outlook: APGE shares rose 1.5% to $83.03 and have drawn generally positive analyst sentiment, with an average Moderate Buy rating and a consensus price target of $112.73. The company also recently beat quarterly EPS expectations, reporting a loss of $1.03 per share versus the expected $1.05 loss.

Apogee Therapeutics Inc. (NASDAQ:APGE - Get Free Report) insider Carl Dambkowski sold 5,500 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $84.14, for a total transaction of $462,770.00. Following the sale, the insider owned 207,023 shares in the company, valued at $17,418,915.22. This represents a 2.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 Wednesday, April 1st, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The stock was sold at an average price of $84.84, for a total transaction of $466,620.00.
• On Wednesday, March 4th, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The shares were sold at an average price of $71.06, for a total transaction of $390,830.00.

Apogee Therapeutics Trading Up 1.5%

NASDAQ:APGE traded up $1.22 on Friday, hitting $83.03. The company had a trading volume of 768,713 shares, compared to its average volume of 585,283. The stock has a market capitalization of $5.14 billion, a price-to-earnings ratio of -19.68 and a beta of 0.69. The firm has a 50 day moving average of $79.69 and a two-hundred day moving average of $73.01. Apogee Therapeutics Inc. has a 52 week low of $34.34 and a 52 week high of $95.32.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last issued its quarterly earnings data on Monday, March 2nd. The company reported ($1.03) EPS for the quarter, beating the consensus estimate of ($1.05) by $0.02. As a group, equities analysts forecast that Apogee Therapeutics Inc. will post -4.57 EPS for the current year.

Institutional Investors Weigh In On Apogee Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC increased its stake in 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 in the last quarter. Stifel Financial Corp increased its stake in Apogee Therapeutics by 3.5% in the fourth quarter. Stifel Financial Corp now owns 5,214 shares of the company's stock valued at $394,000 after purchasing an additional 175 shares in the last quarter. ANTIPODES PARTNERS Ltd increased its stake in Apogee Therapeutics by 41.2% in the third quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company's stock valued at $33,000 after purchasing an additional 246 shares in the last quarter. Rockefeller Capital Management L.P. bought a new stake in Apogee Therapeutics in the fourth quarter valued at $25,000. Finally, Comerica Bank increased its stake in Apogee Therapeutics by 1.0% in the fourth quarter. Comerica Bank now owns 35,872 shares of the company's stock valued at $2,708,000 after purchasing an additional 338 shares in the last quarter. Institutional investors own 79.04% of the company's stock.

Analyst Upgrades and Downgrades

APGE has been the subject of several research reports. Royal Bank Of Canada dropped their price objective on shares of Apogee Therapeutics from $83.00 to $82.00 and set a "sector perform" rating for the company in a research note on Monday, March 2nd. Mizuho raised their price target on shares of Apogee Therapeutics from $105.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, March 30th. BTIG Research reaffirmed a "buy" rating and set a $137.00 price target on shares of Apogee Therapeutics in a research note on Monday, March 23rd. Guggenheim raised their price target on shares of Apogee Therapeutics from $130.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, March 24th. Finally, Canaccord Genuity Group raised their price target on shares of Apogee Therapeutics from $89.00 to $130.00 and gave the company a "buy" rating in a research note on Tuesday, March 24th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $112.73.

Apogee Therapeutics Company Profile

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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