Insider Selling: Apogee Therapeutics, Inc. (NASDAQ:APGE) Insider Sells 6,665 Shares of Stock

Apogee Therapeutics, Inc. (NASDAQ:APGE) insider Carl Dambkowski sold 6,665 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $46.07, for a total value of $307,056.55. Following the sale, the insider now directly owns 260,798 shares of the company’s stock, valued at $12,014,963.86. This represents a 2.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• 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 Price Performance

NASDAQ:APGE traded up $2.81 during trading hours on Friday, reaching $49.97. 438,600 shares of the stock were exchanged, compared to its average volume of 499,271. The stock has a market cap of $2.25 billion, a PE ratio of -20.65 and a beta of 2.30. Apogee Therapeutics, Inc. has a twelve month low of $19.91 and a twelve month high of $72.29. The firm has a 50 day moving average of $52.57 and a 200 day moving average of $48.32.

Analyst Ratings Changes

A number of analysts have commented on the stock. Canaccord Genuity Group began coverage on shares of Apogee Therapeutics in a report on Monday, November 25th. They set a “buy” rating and a $89.00 target price for the company. Canaccord Genuity Group initiated coverage on Apogee Therapeutics in a research note on Monday, November 25th. They set a “buy” rating and a $89.00 price objective for the company. Guggenheim reiterated a “buy” rating and issued a $110.00 price objective (up previously from $95.00) on shares of Apogee Therapeutics in a report on Tuesday. Finally, Wedbush increased their target price on Apogee Therapeutics from $87.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $83.88.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its position in Apogee Therapeutics by 35.7% during the third quarter. Wellington Management Group LLP now owns 4,814,400 shares of the company’s stock valued at $282,798,000 after purchasing an additional 1,267,451 shares during the last quarter. Driehaus Capital Management LLC boosted its holdings in shares of Apogee Therapeutics by 2.6% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,117,870 shares of the company’s stock valued at $83,338,000 after buying an additional 54,107 shares during the last quarter. Perceptive Advisors LLC grew its stake in shares of Apogee Therapeutics by 2.2% in the second quarter. Perceptive Advisors LLC now owns 2,105,636 shares of the company’s stock valued at $82,857,000 after buying an additional 45,241 shares in the last quarter. Affinity Asset Advisors LLC increased its holdings in Apogee Therapeutics by 41.2% during the second quarter. Affinity Asset Advisors LLC now owns 836,283 shares of the company’s stock worth $32,908,000 after buying an additional 244,190 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Apogee Therapeutics by 11.2% during the third quarter. Geode Capital Management LLC now owns 823,839 shares of the company’s stock worth $48,401,000 after acquiring an additional 82,978 shares in the last quarter. Institutional investors and hedge funds own 79.04% of the company’s stock.

About Apogee Therapeutics

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.