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Carl Dambkowski, Chief Medical (TASE:PMCN) Officer of Apogee (NASDAQ:APOG) Therapeutics, Inc. (NASDAQ:APGE), a clinical-stage biopharmaceutical company with a market capitalization of $2.4 billion, recently sold shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. According to InvestingPro data, analysts maintain a Strong Buy consensus with price targets ranging from $80 to $110. On February 5, Dambkowski sold 3,520 shares at an average price of $40.69 per share, totaling approximately $143,228. This transaction was executed under a pre-established Rule 10b5-1 trading plan, which was adopted on August 21, 2024. The sale occurred as the stock trades near $40, down about 12% year-to-date, with InvestingPro analysis indicating the stock is currently fairly valued.
In addition to the sale, Dambkowski also acquired 795 shares of common stock through the exercise of stock options at a price of $22.86 per share, amounting to a total value of $18,173. Following these transactions, Dambkowski holds 252,623 shares of Apogee Therapeutics directly.
The stock sales occurred at prices ranging from $40.42 to $41.39, with the reported price being a weighted average. Dambkowski has committed to providing detailed information regarding the number of shares sold at each price upon request.
In other recent news, Apogee Therapeutics has been the subject of several analyst notes. Guggenheim maintained its Buy rating on Apogee, citing the company’s strategic focus on validated targets and optimized trial design as a competitive edge. The firm also noted Apogee’s potential to capitalize on the anticipated growth in the atopic dermatitis market, which is projected to quadruple to approximately $30 billion by 2035.
Guggenheim further lifted its price target for Apogee to $110, based on the company’s promising research and development strategy. Apogee’s approach to developing mono and combo assets that are differentiated by dosing duration was highlighted. The company’s focus on the TH2 market, which includes conditions such as atopic dermatitis and asthma, is expected to drive significant value growth.
Stifel also maintained its Buy rating on Apogee, keeping its price target at $95. The firm praised the potential of APG777, Apogee’s drug candidate for Atopic Dermatitis, and highlighted the upcoming release of Phase 1 data for APG808, an IL-4Ra inhibitor. The year 2025 is expected to bring multiple catalysts for Apogee, including the anticipated Phase 2 data for APG777 and initial Proof of Concept data for APG808 in Asthma.
These developments underscore recent progress in Apogee’s pipeline and its strategic positioning in the growing atopic dermatitis market. Analysts from both Guggenheim and Stifel have expressed confidence in the company’s approach and future prospects.
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