Insider Selling: Apogee Therapeutics, Inc. (NASDAQ:APGE) Insider Sells 4,540 Shares of Stock

Apogee Therapeutics, Inc. (NASDAQ:APGE) insider Carl Dambkowski sold 4,540 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $48.76, for a total value of $221,370.40. Following the completion of the sale, the insider now directly owns 258,073 shares in the company, valued at $12,583,639.48. This represents a 1.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, December 4th, Carl Dambkowski sold 6,665 shares of Apogee Therapeutics stock. The stock was sold at an average price of $46.07, for a total transaction of $307,056.55.
• On Wednesday, November 6th, Carl Dambkowski sold 6,665 shares of Apogee Therapeutics stock. The stock was sold at an average price of $59.12, for a total transaction of $394,034.80.
• On Wednesday, October 2nd, Carl Dambkowski sold 6,665 shares of Apogee Therapeutics stock. The shares were sold at an average price of $56.26, for a total transaction of $374,972.90.

Apogee Therapeutics Stock Performance

Apogee Therapeutics stock opened at $44.50 on Monday. The company has a market capitalization of $2.00 billion, a P/E ratio of -18.39 and a beta of 2.30. Apogee Therapeutics, Inc. has a fifty-two week low of $20.78 and a fifty-two week high of $72.29. The stock has a 50-day simple moving average of $51.43 and a 200-day simple moving average of $48.30.

Institutional Investors Weigh In On Apogee Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System grew its position in shares of Apogee Therapeutics by 4.5% during the second quarter. Arizona State Retirement System now owns 5,993 shares of the company’s stock worth $236,000 after acquiring an additional 258 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Apogee Therapeutics by 21.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company’s stock worth $94,000 after purchasing an additional 285 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Apogee Therapeutics during the 3rd quarter worth $71,000. Principal Financial Group Inc. grew its position in Apogee Therapeutics by 26.3% during the 2nd quarter. Principal Financial Group Inc. now owns 6,442 shares of the company’s stock worth $253,000 after purchasing an additional 1,340 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its stake in Apogee Therapeutics by 25.7% in the third quarter. Handelsbanken Fonder AB now owns 8,800 shares of the company’s stock valued at $517,000 after purchasing an additional 1,800 shares during the period. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on APGE. Canaccord Genuity Group began 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. Guggenheim reaffirmed a “buy” rating on shares of Apogee Therapeutics in a research report on Thursday. Wedbush raised their target price on Apogee Therapeutics from $87.00 to $90.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Finally, Canaccord Genuity Group assumed coverage on 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 analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $83.88.

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.