Michael Henderson, serving as the Chief Executive Officer of Apogee Therapeutics, Inc. (NASDAQ: APGE), executed a sale of 80,000 shares of the company's common stock on June 22, 2026. The transaction totaled approximately $10.6 million. The shares were sold at a weighted average price of $132.54 per share. According to the filing, the sales occurred in multiple transactions with prices ranging from $132.50 to $132.68, inclusive. This transaction was executed pursuant to a Rule 10b5-1 trading plan that Mr. Henderson adopted on August 13, 2025.
Following this direct sale, Mr. Henderson now directly owns 1,015,987 shares of Apogee Therapeutics common stock. The sale comes as APGE stock trades near its 52-week high of $133.16, according to InvestingPro data, following a remarkable 209% return over the past year. The stock currently appears overvalued based on InvestingPro's Fair Value analysis. InvestingPro offers access to over 10 additional exclusive tips for APGE, along with comprehensive financial metrics to help investors make informed decisions.
In other recent news, Apogee Therapeutics has been in the spotlight following its acquisition agreement with AbbVie. The deal, valued at approximately $10.9 billion, will see AbbVie acquire Apogee at $135.11 per share in cash. This acquisition has led to Apogee's stock being downgraded by both Mizuho and UBS to Neutral from Buy, with Mizuho raising its price target to $135 and UBS to $135.11, reflecting the perceived fair value of the acquisition. Additionally, Apogee has entered into agreements with Paragon Therapeutics for the discovery and development of antibodies targeting the interleukin 31 receptor. These agreements involve Paragon generating and characterizing antibody candidates, with Apogee covering associated costs. Furthermore, Apogee's recent annual meeting saw shareholders elect directors and approve three proposals. Lastly, RBC Capital raised its price target for Apogee to $97, maintaining a Sector Perform rating, following a survey that assessed the potential future use of Apogee's lead asset in dermatology.