Apogee Therapeutics (NASDAQ:APGE) Shares Down 3.7% – Here’s What Happened

Apogee Therapeutics, Inc. (NASDAQ:APGE) was down 3.7% on Friday . The company traded as low as $54.73 and last traded at $54.76. Approximately 155,024 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 511,682 shares. The stock had previously closed at $56.85.

Apogee Therapeutics Price Performance

The business’s 50-day moving average price is $49.58 and its two-hundred day moving average price is $49.54. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of -10.77 and a beta of 2.74.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.60) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.60). As a group, research analysts predict that Apogee Therapeutics, Inc. will post -2.57 EPS for the current year.

Insider Buying and Selling at Apogee Therapeutics

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $40.62, for a total transaction of $1,624,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,434,487 shares in the company, valued at $58,268,861.94. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $40.62, for a total transaction of $1,624,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,434,487 shares in the company, valued at $58,268,861.94. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Carl Dambkowski sold 7,335 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $40.67, for a total transaction of $298,314.45. Following the transaction, the insider now owns 287,458 shares of the company’s stock, valued at approximately $11,690,916.86. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 100,000 shares of company stock worth $4,434,462 over the last three months. Corporate insiders own 36.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Arizona State Retirement System increased its holdings 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 buying an additional 258 shares in the last quarter. EntryPoint Capital LLC increased its holdings in Apogee Therapeutics by 44.7% in the first quarter. EntryPoint Capital LLC now owns 1,997 shares of the company’s stock valued at $133,000 after purchasing an additional 617 shares during the period. Principal Financial Group Inc. increased its holdings in Apogee Therapeutics by 26.3% in the second quarter. Principal Financial Group Inc. now owns 6,442 shares of the company’s stock valued at $253,000 after purchasing an additional 1,340 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in Apogee Therapeutics by 28.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 7,155 shares of the company’s stock valued at $475,000 after purchasing an additional 1,600 shares during the period. Finally, Ameritas Investment Partners Inc. increased its holdings in Apogee Therapeutics by 111.2% in the first quarter. Ameritas Investment Partners Inc. now owns 4,126 shares of the company’s stock valued at $274,000 after purchasing an additional 2,172 shares during the period. 79.04% of the stock is currently 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.