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

Key Points

• Insider sale: Carl Dambkowski sold 5,500 Apogee Therapeutics shares for approximately $737,935 at an average price of $134.17 under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 3.16% to 168,498 shares.
• Stock performance and outlook: APGE rose 0.3% to $134.84, near its 52-week high, while analysts’ consensus rating remained “Hold” with an average price target of $121.25.
• Institutional interest: Institutional investors own 79.04% of the company, with BlackRock, Deutsche Bank and other firms establishing or adding positions during the second quarter.

Apogee Therapeutics Inc. (NASDAQ:APGE - Get Free Report) insider Carl Dambkowski sold 5,500 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $134.17, for a total value of $737,935.00. Following the completion of the transaction, the insider owned 168,498 shares of the company's stock, valued at approximately $22,607,376.66. This represents a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, July 1st, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The shares were sold at an average price of $132.74, for a total value of $730,070.00.
• On Monday, June 22nd, Carl Dambkowski sold 26,400 shares of Apogee Therapeutics stock. The shares were sold at an average price of $132.60, for a total value of $3,500,640.00.
• On Wednesday, June 3rd, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The stock was sold at an average price of $78.71, for a total transaction of $432,905.00.

Apogee Therapeutics Trading Up 0.3%

APGE stock traded up $0.35 during mid-day trading on Friday, hitting $134.84. 1,495,195 shares of the company were exchanged, compared to its average volume of 1,158,962. The stock has a market capitalization of $8.34 billion, a PE ratio of -31.14 and a beta of 0.34. Apogee Therapeutics Inc. has a 1-year low of $34.34 and a 1-year high of $134.88. The business has a 50 day simple moving average of $119.35 and a 200-day simple moving average of $91.88.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last released its quarterly earnings results on Monday, May 11th. The company reported ($1.06) EPS for the quarter, beating the consensus estimate of ($1.07) by $0.01. Equities research analysts expect that Apogee Therapeutics Inc. will post -4.45 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. NINE MASTS CAPITAL Ltd purchased a new stake in Apogee Therapeutics in the second quarter worth approximately $1,248,000. BlackRock Inc. purchased a new position in shares of Apogee Therapeutics during the second quarter worth approximately $730,948,000. Deutsche Bank AG purchased a new position in shares of Apogee Therapeutics during the second quarter worth approximately $13,137,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Apogee Therapeutics in the 2nd quarter worth approximately $597,000. Finally, Longfellow Investment Management Co. LLC bought a new stake in shares of Apogee Therapeutics in the 2nd quarter worth approximately $81,000. Institutional investors own 79.04% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on APGE shares. Craig Hallum set a $135.11 price objective on Apogee Therapeutics and gave the company a "hold" rating in a report on Monday, June 22nd. Citigroup lowered shares of Apogee Therapeutics from a "buy" rating to a "neutral" rating and upped their price objective for the company from $125.00 to $135.00 in a report on Tuesday, June 23rd. TD Cowen cut Apogee Therapeutics from a "buy" rating to a "hold" rating in a report on Tuesday, June 23rd. Mizuho reiterated a "neutral" rating and set a $135.00 price target (up from $110.00) on shares of Apogee Therapeutics in a research note on Wednesday, June 24th. Finally, BTIG Research reaffirmed a "buy" rating and set a $137.00 price objective on shares of Apogee Therapeutics in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $121.25.

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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