Carl Dambkowski Sells 26,400 Shares of Apogee Therapeutics (NASDAQ:APGE) Stock

Key Points

• Apogee Therapeutics insider Carl Dambkowski sold 26,400 shares on June 22 at an average price of $132.60, totaling about $3.5 million. After the transaction, he still held 179,248 shares, and the trade was made under a pre-arranged Rule 10b5-1 plan.
• APGE shares were near their 52-week high, trading around $132.69, up sharply from much lower levels earlier in the year. The company now has a market cap of roughly $8.21 billion.
• Apogee has drawn major market attention after a proposed $135.11 per-share cash sale to AbbVie. Analysts have mostly moved to hold/neutral ratings near that deal price, while a law firm investigation adds some uncertainty around the transaction.

Apogee Therapeutics Inc. (NASDAQ:APGE - Get Free Report) insider Carl Dambkowski sold 26,400 shares of Apogee Therapeutics stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $132.60, for a total transaction of $3,500,640.00. Following the sale, the insider directly owned 179,248 shares in the company, valued at approximately $23,768,284.80. This trade represents a 12.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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.
• On Wednesday, May 6th, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The stock was sold at an average price of $84.14, for a total transaction of $462,770.00.
• On Wednesday, April 1st, Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock. The shares were sold at an average price of $84.84, for a total transaction of $466,620.00.

Apogee Therapeutics Stock Down 0.1%

APGE traded down $0.19 during trading on Wednesday, reaching $132.69. The company's stock had a trading volume of 7,739,634 shares, compared to its average volume of 4,765,024. The firm has a fifty day simple moving average of $87.67 and a two-hundred day simple moving average of $79.27. Apogee Therapeutics Inc. has a 1 year low of $34.34 and a 1 year high of $133.16. The company has a market cap of $8.21 billion, a price-to-earnings ratio of -30.64 and a beta of 0.62.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported ($1.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.07) by $0.01. As a group, equities analysts forecast that Apogee Therapeutics Inc. will post -4.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Apogee Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in APGE. Rockefeller Capital Management L.P. acquired a new position in shares of Apogee Therapeutics in the 4th quarter worth approximately $25,000. Los Angeles Capital Management LLC purchased a new stake in Apogee Therapeutics in the fourth quarter valued at approximately $37,000. EverSource Wealth Advisors LLC lifted its stake in Apogee Therapeutics by 61.7% during the first quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company's stock worth $54,000 after purchasing an additional 246 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Apogee Therapeutics during the third quarter worth $96,000. Finally, Seven Fleet Capital Management LP acquired a new stake in shares of Apogee Therapeutics in the fourth quarter valued at $136,000. 79.04% of the stock is owned by hedge funds and other institutional investors.

Key Apogee Therapeutics News

Here are the key news stories impacting Apogee Therapeutics this week:

• Positive Sentiment: Apogee Therapeutics announced a proposed sale to AbbVie for $135.11 per share in cash, reinforcing the takeover premium and likely supporting the stock price. Article Title
• Neutral Sentiment: Stifel reiterated a hold rating and lifted its price target to $135, suggesting the shares are already close to fair value at the deal price. Article Title
• Neutral Sentiment: Citi downgraded the stock to neutral/hold while also raising its target to $135, reflecting a more cautious stance but still near the acquisition value. Article Title
• Neutral Sentiment: Unusual options activity showed heavy put buying, which may indicate some hedging or concern about deal execution risk. Article Title
• Negative Sentiment: A law firm launched an investigation into the adequacy of the proposed sale price and process, which could add legal overhang and uncertainty around the transaction. Article Title

Analysts Set New Price Targets

Several research analysts have recently weighed in on APGE shares. The Goldman Sachs Group set a $89.00 price target on shares of Apogee Therapeutics in a research report on Thursday, May 28th. Mizuho reiterated a "neutral" rating and issued a $135.00 target price (up from $110.00) on shares of Apogee Therapeutics in a report on Wednesday. Royal Bank Of Canada increased their price target on shares of Apogee Therapeutics from $82.00 to $97.00 and gave the company a "sector perform" rating in a research note on Monday, June 8th. Deutsche Bank Aktiengesellschaft lowered shares of Apogee Therapeutics from a "buy" rating to a "hold" rating and lifted their price target for the company from $116.00 to $135.00 in a research report on Monday. Finally, TD Cowen cut Apogee Therapeutics from a "buy" rating to a "hold" rating in a research note on Tuesday. One equities 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's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus 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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