FMR Adds $138M in Apogee Therapeutics, Inc. ($APGE)
FMR boosted its position in Apogee Therapeutics by over 1 million shares.
Key Points
- FMR added 1,037,253 shares of Apogee Therapeutics, increasing its stake by 12.6% to 9,262,291 shares, valued at approximately $819 million.
- Apogee Therapeutics, trading at $88.43, has a market cap of about $6.67 billion and a forward P/E of -17.02.
- Insiders including CEO Michael Henderson sold shares, while analysts maintained ratings with targets ranging from $81 to $160.
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FMR has increased its investment in Apogee Therapeutics, Inc. (NasdaqGM: APGE), according to its latest 13F filing with the SEC. The firm added 1,037,253 shares, boosting its stake by 12.6% to a total of 9,262,291 shares. This position is valued at approximately $819 million as of the end of the reporting period.
What Changed in FMR's Apogee Therapeutics Position
FMR's move reflects a significant increase in its holdings of Apogee Therapeutics. Previously holding 8,225,038 shares, the firm now holds 9,262,291 shares. This increase of 1,037,253 shares marks a 12.6% rise in its stake, indicating a strong vote of confidence in the biotechnology company.
Other Institutional Activity in Apogee Therapeutics
Several other institutional investors have also been active in Apogee Therapeutics. T. Rowe Price Investment Management, Inc. significantly increased its holdings by 7,568,528 shares, bringing its total to 10,300,984 shares, valued at approximately $867 million. Venrock Adviser, LLC maintained its position with 8,493,321 shares worth about $715 million. Wellington Management Group LLP reduced its stake by 370,882 shares, now holding 4,375,703 shares valued at $368 million. BlackRock, Inc. added 301,657 shares, bringing its total to 4,085,651 shares valued at $344 million.
Apogee Therapeutics, Inc. Stock Down 1.8%
Shares of Apogee Therapeutics are currently trading at $88.43. The company has a market capitalization of approximately $6.67 billion and a forward P/E ratio of -17.02, indicating it is not currently profitable. The stock has a 52-week low of $34.34 and a high of $95.32. Its 50-day moving average is $84.62, while the 200-day moving average is $69.12. The company maintains a strong liquidity position with a current ratio of 32.59 and a quick ratio of 32.39.
$APGE stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
Although Apogee Therapeutics is not currently profitable, the company's next earnings report is scheduled for August 10, 2026. Investors will be looking for updates on its clinical trials and any progress towards profitability.
Insider Buying and Selling at Apogee Therapeutics, Inc.
Insider activity at Apogee Therapeutics includes several transactions. CEO Michael Thomas Henderson sold 20,000 shares on June 10, 2026, at an average price of $83.38 under a pre-planned 10b5-1 trading plan. Meanwhile, insiders like Mark McKenna, William Jones Jr, and others each purchased 7,657 shares on June 9, 2026.
Analysts Set New Price Targets
Analysts have been active in setting price targets for Apogee Therapeutics. On June 8, 2026, RBC Capital maintained its hold rating with a $97 price target. Truist Securities and Wedbush also maintained their hold and buy ratings, respectively, with targets of $81 and $135. Rothschild & Co initiated coverage with a buy rating and a $140 target on May 1, 2026. The consensus among analysts is a strong buy, with a mean target price of $119.50.
About Apogee Therapeutics
Apogee Therapeutics, Inc. is a biotechnology company based in Waltham, Massachusetts. It focuses on developing novel biologics for inflammatory and immunology-related diseases such as atopic dermatitis, asthma, and eosinophilic esophagitis. The company is led by CEO Dr. Michael Thomas Henderson and employs 261 people.
Bottom Line
FMR's increased stake in Apogee Therapeutics underscores its confidence in the company's potential. While the firm has added significantly to its holdings, it's important to remember that 13F filings are backward-looking and may not reflect current positions. Investors will be watching for upcoming earnings and clinical trial results as Apogee continues its development efforts.
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