Apogee Therapeutics (NASDAQ:APGE) Shares Gap Down to $59.92

Apogee Therapeutics, Inc. (NASDAQ:APGE) gapped down before the market opened on Wednesday . The stock had previously closed at $59.92, but opened at $57.00. Apogee Therapeutics shares last traded at $58.22, with a volume of 44,476 shares trading hands.

Apogee Therapeutics Stock Performance

The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of -11.41 and a beta of 2.74. The business has a fifty day moving average price of $48.35 and a 200 day moving average price of $49.78.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.60) EPS for the quarter, hitting the consensus estimate of ($0.60). On average, analysts expect that Apogee Therapeutics, Inc. will post -2.57 earnings per share for the current year.

Insider Buying and Selling at Apogee Therapeutics

In other news, insider Carl Dambkowski sold 5,995 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $37.60, for a total value of $225,412.00. Following the completion of the sale, the insider now owns 294,793 shares of the company’s stock, valued at $11,084,216.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Apogee Therapeutics news, insider Carl Dambkowski sold 5,995 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $37.60, for a total transaction of $225,412.00. Following the transaction, the insider now owns 294,793 shares in the company, valued at $11,084,216.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Jane Henderson sold 6,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $48.26, for a total value of $289,560.00. Following the completion of the sale, the chief financial officer now owns 200,871 shares of the company’s stock, valued at approximately $9,694,034.46. The disclosure for this sale can be found here. Insiders have sold a total of 120,995 shares of company stock valued at $5,218,774 over the last ninety days. Corporate insiders own 36.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. EntryPoint Capital LLC increased its stake in Apogee Therapeutics by 44.7% during the 1st quarter. EntryPoint Capital LLC now owns 1,997 shares of the company’s stock worth $133,000 after buying an additional 617 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Apogee Therapeutics in the 2nd quarter valued at about $143,000. Kennedy Capital Management LLC acquired a new stake in shares of Apogee Therapeutics during the first quarter valued at about $212,000. Arizona State Retirement System increased 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. Finally, Principal Financial Group Inc. lifted its stake in shares of Apogee Therapeutics by 26.3% in the second quarter. Principal Financial Group Inc. now owns 6,442 shares of the company’s stock worth $253,000 after acquiring an additional 1,340 shares in the last quarter. 79.04% of the stock is owned by institutional investors and hedge funds.

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.