What Investors Should Know About a $1.5 Million Apogee Insider Sale Amid a 60% Stock Rally
Key Points
The chief medical officer at Apogee Therapeutics sold 18,700 shares of the biotech for about $1.46 million.
This sale represented 8.09% of Dambkowski’s direct holdings, reducing his direct stake, as reported, from 231,223 to 212,523 shares.
The transaction was entirely direct, with no shares attributed to trusts or indirect entities, and involved the exercise of 14,025 options immediately prior to the sale.
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Carl Dambkowski, the chief medical officer at Apogee Therapeutics (NASDAQ:APGE), executed an open-market sale of 18,700 shares on Wednesday following the exercise of 14,025 stock options, for a total transaction value of $1.46 million, according to an SEC Form 4 filing.
Transaction summary
| Metric | Value |
|---|---|
| Shares sold (direct) | 18,700 |
| Transaction value | $1.5 million |
| Post-transaction shares (direct) | 212,523 |
| Post-transaction value (direct ownership) | $16.8 million |
Transaction value based on SEC Form 4 weighted average purchase price ($77.84); post-transaction value based on Wednesday's market close.
Key questions
- How does the size of this sale compare to Dambkowski’s previous sell transactions?
This disposition of 18,700 shares is substantially larger than the recent median sell size of 3,690 shares for Dambkowski, and also exceeds the median sell size of 6,665 shares observed in earlier periods, highlighting the impact of the option exercise on transaction scale. - What was the structure and timing of the transaction in relation to option exercises?
The transaction involved exercising 14,025 options for common stock and immediately selling 18,700 shares. - What is Dambkowski’s remaining equity exposure after this transaction?
Dambkowski retains 212,523 directly held shares, valued at approximately $16.8 million as of Wednesday. - Was the transaction price aligned with prevailing market levels?
The weighted average sale price was around $77.84 per share, closely matching the Wednesday market close of $78.95, reflecting execution near the prevailing price level on that date.
Company overview
| Metric | Value |
|---|---|
| Market capitalization | $5.3 billion |
| Net income (TTM) | ($253.67 million) |
| 1-year price change | 60% |
Company snapshot
- Apogee Therapeutics develops biologic therapies targeting atopic dermatitis, chronic obstructive pulmonary disease, and related inflammatory and immunology indications.
- The company operates a biotechnology R&D model, generating value through clinical advancement of proprietary biologics with a focus on extended half-life antibody platforms.
- It targets patients with chronic inflammatory diseases, with primary customers expected to be healthcare providers, hospitals, and specialty clinics treating atopic dermatitis and COPD.
Apogee Therapeutics is a clinical-stage biotechnology company focused on developing next-generation biologics for immunological and inflammatory disorders. The company leverages proprietary antibody engineering to address significant unmet needs in atopic dermatitis and COPD, aiming to deliver differentiated, long-acting therapies. Apogee's strategy centers on advancing a robust pipeline of extended half-life monoclonal antibodies to establish a competitive position in the specialty therapeutics market.
What this transaction means for investors
The Form 4 clarifies that the transaction was executed under a Rule 10b5-1 trading plan and followed the exercise of vested options. A prior filing error had overstated his ownership, and this report reflects corrected figures. After the sale, Dambkowski still holds 212,523 shares, worth about $16.8 million. That means this was a structured, plan-driven liquidity event after a strong rally, not a signal on clinical confidence, and Dambkowski still holds a sizable stake in the firm.
Meanwhile, Apogee Therapeutics shares are up about 60% over the past year, far outpacing the S&P 500’s roughly 18% gain, largely on growing confidence in its immunology pipeline and balance sheet strength. The company closed the third quarter with $913 million in pro forma cash, cash equivalents, and marketable securities following its October equity financing, giving the company runway into the second half of 2028. Since then, Apogee reported positive interim Phase 1b data for zumilokibart in asthma, showing durable biomarker suppression and supporting less frequent dosing, while multiple Phase 2 readouts are lined up for 2026.
Glossary
Open-market sale: The sale of securities on a public exchange, available to all investors.
Stock options: Contracts granting the right to buy company stock at a set price within a specific period.
Option exercise: The act of using stock options to purchase company shares at the predetermined price.
Direct holdings: Shares owned personally by an individual, not through trusts or other entities.
Indirect equity ownership: Ownership of shares through trusts, funds, or other entities rather than directly.
Form 4: A required SEC filing disclosing insider transactions in a company's securities.
Weighted average price: The average price per share, weighted by the number of shares sold at each price.
Disposition: The act of selling or otherwise transferring ownership of an asset.
Monoclonal antibodies: Laboratory-made proteins designed to target specific cells or substances in the body.
Extended half-life: A property of drugs that allows them to remain active in the body for a longer period.
Clinical-stage: Refers to a company or drug that is currently being tested in human clinical trials.
TTM: The 12-month period ending with the most recent quarterly report.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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