Avoro Capital Advisors Reduces $44M in Apogee Therapeutics, Inc. ($APGE)

Avoro Capital Advisors has completely exited its position in Apogee Therapeutics, Inc. (NasdaqGM: APGE) by selling all 500,000 shares it previously held. This move was disclosed in the firm's latest 13F filing with the SEC, reflecting its holdings as of the reporting period.

What Changed in Avoro Capital Advisors' Apogee Therapeutics Position

Avoro Capital Advisors cut its entire stake in Apogee Therapeutics, selling off 500,000 shares. This represents a 100% reduction, leaving the fund with no remaining shares in the company.

Other Institutional Activity in Apogee Therapeutics

Several other institutional investors made significant moves in Apogee Therapeutics. T. Rowe Price Investment Management, Inc. increased its holdings by 7,568,528 shares, totaling 10,300,984 shares valued at about $867 million. FMR LLC also added 1,037,253 shares, bringing its total to 9,262,291 shares worth roughly $780 million. Meanwhile, Wellington Management Group LLP reduced its stake by 370,882 shares, ending with 4,375,703 shares valued at approximately $368 million. BlackRock, Inc. increased its position by 301,657 shares, holding a total of 4,085,651 shares valued at $344 million.

Apogee Therapeutics Stock Snapshot

Shares of Apogee Therapeutics are trading at $88.33. The company has a market capitalization of approximately $6.66 billion. Due to negative earnings, Apogee does not have a meaningful P/E ratio. The stock's 52-week range spans from $34.34 to $95.32, with a 50-day moving average of $84.45 and a 200-day moving average of $68.37. Apogee maintains a strong liquidity position with a current ratio of 32.59 and a quick ratio of 32.39, and its debt-to-equity ratio is 0.641.

Insider Buying and Selling at Apogee Therapeutics, Inc.

On June 10, 2026, CEO Michael Thomas Henderson sold 20,000 shares at an average price of $83.38 under a Rule 10b5-1 trading plan. On June 9, 2026, several insiders, including Mark McKenna and William Jones Jr., each purchased 7,657 shares, though these transactions did not specify a price.

Analysts Set New Price Targets

RBC Capital maintained a hold rating with a $97 price target on June 8, 2026. On May 27, 2026, both Truist Securities and Wedbush maintained their ratings, with Truist Securities setting a target of $81 and Wedbush a target of $135. Rothschild & Co initiated coverage with a buy rating and a $140 price target on May 1, 2026. The consensus among 16 analysts is a strong buy, with a mean price target of $119.50.

About Apogee Therapeutics

Apogee Therapeutics, Inc. is a biotechnology company based in Waltham, Massachusetts. It focuses on developing novel biologics for treating various inflammatory and immunology conditions such as atopic dermatitis and asthma. The company is working on several clinical-stage products, including Zumilokibart (APG777) for atopic dermatitis, currently in phase 2 clinical trials, and other treatments for asthma and eosinophilic esophagitis.

Bottom Line

Avoro Capital Advisors' complete exit from Apogee Therapeutics highlights a significant shift in its investment strategy. Investors often track such filings for insights into institutional sentiment, though it's important to remember that 13F filings are backward-looking and may not reflect current positions. Apogee continues to attract attention with its promising pipeline and analyst support, despite its current lack of profitability.