APGE
Apogee Therapeutics, Inc.Healthcare·Biotechnology
$82.14
$5.1B market cap
Revenue
$0.0M
Free Cash Flow
$-118.3M
Rev Growth
+0.0%
FCF Margin
0.0%
P/FCF
--
EV/FCF
--
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
Apogee Therapeutics, Inc., through its subsidiary, operates as a biotechnology company that develops biologics for the treatment of atopic dermatitis (AD), chronic obstructive pulmonary disease (COPD), and related inflammatory and immunology indications. The company primarily develops APG777, a subcutaneous (SQ) extended half-life monoclonal antibody (mAb) for AD; and APG808, an SQ extended half-life mAb for COPD. Its earlier-stage programs include APG990, an SQ extended half-life mAb for the tr
2-Year Price History
$81.16+77.8%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 0.0 | -82.4 | -82.8 | -74.1 | -55.6 | -55.6 | -0.0 | 1,060 | 8.1 | 69.7 | -51.0% | -- | -- |
| Act | 2025-Q4 | 0.0 | -77.7 | -78.1 | -69.4 | -62.7 | -62.8 | -0.1 | 730.2 | 8.9 | 60.7 | -103.2% | -- | -- |
Valuation & Metrics
Market Stats
Price$82.14
Market Cap$5.1B
Enterprise Value$4.0B
P/S Ratio0.0x
P/FCF--
EV/FCF--
FCF Margin (TTM)0.0%
FCF Yield-2.3%
Dividend Yield (TTM)--
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$0.0M
Net Income$-143.5M
Free Cash Flow$-118.3M
Revenue Growth (YoY)+0.0%
EBITDA Margin0.0%
Net Margin0.0%
FCF Margin0.0%
CapEx % of Revenue0.0%
SBC % of Revenue0.0%
ROIC-77.1%
WC Change % Rev0.0%
Interest Coverage--
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares9.5M
Days to Cover14.3
Change (vs Prior)-0.8%
Need at least 2 settlement dates for chart
Employees
Headcount196
Revenue / Employee$0
Gross Profit / Employee$-41
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
0.6%(+0.6% YoY)
32 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
0.1%(+0.1% YoY)
7 filers
Vanguard, iShares, SPDR
Market makers
0.0%(+0.0% YoY)
2 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| ARK Investment Management LLC | $12.1M | $76.52 | +$37.3M | +$12.1M | -1.8% | $12.86B |
| Valor Management LLC | $3.5M | $84.17 | +$91.2M | +$3.5M | -2.3% | $181M |
| BlackRock, Inc.Passive | $2.5M | $44.49 | +$0 | +$2.5M | -0.2% | $5.69T |
| Nikko Asset Management Americas, Inc. | $2.4M | $84.17 | +$61.3M | +$2.4M | -1.2% | $7.07B |
| Sumitomo Mitsui Trust Group, Inc. | $2.4M | $84.17 | +$61.3M | +$2.4M | +1.8% | $154.47B |
| Clear Street Group Inc. | $2.1M | $75.48 | −$85.8M | +$2.1M | -7.7% | $17.82B |
| RENAISSANCE TECHNOLOGIES LLC | $1.8M | $83.37 | +$46.3M | +$1.8M | +1.2% | $63.91B |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $1.5M | $84.17 | +$38.1M | +$1.5M | — | $4.04T |
| GEODE CAPITAL MANAGEMENT, LLCPassive | $1.4M | $75.19 | +$8.8M | +$1.4M | +2.3% | $1.61T |
| BLAIR WILLIAM & CO/IL | $1.2M | $77.81 | +$8.4M | +$1.2M | -0.5% | $34.73B |
| MILLENNIUM MANAGEMENT LLC | $1.2M | $84.17 | +$30.2M | +$1.2M | -0.5% | $127.40B |
| Feynman Point Asset Management LLC | $1.1M | $75.48 | −$7.0M | +$1.1M | +8.7% | $29.1M |
| Bienville Capital Management, LLC | $709K | $84.17 | +$18.2M | +$709K | +0.2% | $527M |
| VANGUARD FIDUCIARY TRUST COPassive | $691K | $84.17 | +$17.8M | +$691K | — | $395.83B |
| STATE STREET CORPPassive | $660K | $79.49 | +$13.9M | +$660K | -0.2% | $2.89T |
| ADVISOR GROUP HOLDINGS, INC. | $621K | $84.17 | +$16.0M | +$621K | -0.3% | $67.63B |
| Summit Trail Advisors, LLC | $490K | $78.66 | +$4.6M | +$490K | -0.4% | $6.97B |
| MARSHALL WACE, LLP | $489K | $75.48 | −$16.0M | +$489K | +0.6% | $92.71B |
| NORTHERN TRUST CORPPassive | $284K | $76.00 | +$440K | +$284K | -0.2% | $755.34B |
| GOLDMAN SACHS GROUP INC | $230K | $84.17 | +$5.9M | +$230K | -0.2% | $760.93B |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)BULLISH
Holders
-0.97%
avg per quarter
Holders (ex-self)
-1.06%
excl. this stock
Buyers (this Q)
-0.67%
32 buyers · $0.02B in
Sellers (this Q)
-5.42%
4 sellers · $0.00B out
alpha coverage: 94% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
-5.6%
how holders react when this stock falls
On quiet Qs
-35.4%
−10% to +10% baseline
On rallies (+10%+)
+5.5%
how they react when this stock rises
Holders' portfolio flow this Q
+17.3%
inflows — adds are organic
Sellers' portfolio flow this Q
-1.4%
Sellers shed AUM broadly — partly forced.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
-4.2%
Holder mid (any stock)
-6.7%
Holder rally (any stock)
-5.9%
Biggest decreases this quarter
New buyers this quarter
Valor Management LLC+$0.00Bα-2.3Nikko Asset Management Americas, Inc.+$0.00Bα-1.2Sumitomo Mitsui Trust Group, Inc.+$0.00Bα+1.8VANGUARD CAPITAL MANAGEMENT LLC+$0.00BMILLENNIUM MANAGEMENT LLC+$0.00Bα-0.5Bienville Capital Management, LLC+$0.00Bα+0.2VANGUARD FIDUCIARY TRUST CO+$0.00BADVISOR GROUP HOLDINGS, INC.+$0.00Bα-0.3GOLDMAN SACHS GROUP INC+$0.00Bα-0.2Zuckerman Investment Group, LLC+$0.00Bα+1.1
Top-5 holders · 59.0%
ARK Investment Management LLC--
Valor Management LLC--
BlackRock, Inc.--
Nikko Asset Management Americas, Inc.--
Sumitomo Mitsui Trust Group, Inc.--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
ARK Investment Management LLC3.7MClear Street Group Inc.652KValor Management LLC1.1MNikko Asset Management Americas, Inc.728KSumitomo Mitsui Trust Group, Inc.728KRENAISSANCE TECHNOLOGIES LLC562KFeynman Point Asset Management LLC351KBLAIR WILLIAM & CO/IL375KMILLENNIUM MANAGEMENT LLC359KMARSHALL WACE, LLP150K
Analyst Coverage
Analyst Coverage
Price Targets
Last Quarter (2 analysts)$111.503570.0%
Last Year (11 analysts)$104.912770.0%
Current Price$82.14
Analyst Ratings
9
1
Buy: 9Hold: 1Consensus: Buy
Corporate
Insider Trading (last 12mo)
Open-market only (Form 4 P-Purchase + S-Sale). Excludes grants, option exercises, tax withholding, gifts.
Officers & directors
Buys ($, 12mo)
$0
1 txn · 1 insider · 365,853 sh
Sells ($, 12mo)
$154.58M
34 txns · 4 insiders · 2,043,260 sh
Recent transactions
| Date | Side | Insider | Title | Shares | Price | Dollars | Owned $ |
|---|---|---|---|---|---|---|---|
| 2026-05-13 | SELL | HENDERSON MICHAEL THOMAS | director, officer: Chief Executive Officer | 20,000 | $82.09 | $1.64M | $91.61M |
| 2026-05-06 | SELL | Dambkowski Carl | officer: Chief Medical Officer | 5,500 | $84.14 | $463K | $17.42M |
| 2026-05-01 | SELL | Henderson Jane | officer: Chief Financial Officer | 2,000 | $82.04 | $164K | $14.22M |
| 2026-04-16 | SELL | Henderson Jane | officer: Chief Financial Officer | 2,000 | $90.00 | $180K | $15.78M |
| 2026-04-08 | SELL | HENDERSON MICHAEL THOMAS | director, officer: Chief Executive Officer | 20,000 | $82.58 | $1.65M | $93.57M |
| 2026-04-01 | SELL | Dambkowski Carl | officer: Chief Medical Officer | 5,500 | $84.84 | $467K | $17.68M |
| 2026-04-01 | SELL | Henderson Jane | officer: Chief Financial Officer | 2,000 | $85.01 | $170K | $15.08M |
| 2026-03-25 | SELL | Henderson Jane | officer: Chief Financial Officer | 2,000 | $85.00 | $170K | $15.25M |
| 2026-03-11 | SELL | HENDERSON MICHAEL THOMAS | director, officer: Chief Executive Officer | 20,000 | $74.78 | $1.50M | $86.22M |
| 2026-03-04 | SELL | Dambkowski Carl | officer: Chief Medical Officer | 5,500 | $71.06 | $391K | $14.91M |
| 2026-03-02 | SELL | Henderson Jane | officer: Chief Financial Officer | 2,000 | $70.22 | $140K | $12.74M |
| 2026-02-11 | SELL | HENDERSON MICHAEL THOMAS | director, officer: Chief Executive Officer | 20,000 | $63.35 | $1.27M | $74.31M |
| 2026-02-04 | SELL | Dambkowski Carl | officer: Chief Medical Officer | 5,500 | $65.79 | $362K | $13.89M |
| 2026-02-02 | SELL | Henderson Jane | officer: Chief Financial Officer | 2,000 | $65.81 | $132K | $12.07M |
| 2026-01-22 | SELL | Fairmount Funds Management LLC | director | 1,750,000 | $76.30 | $133.53M | $22.79M |
| 2026-01-14 | SELL | HENDERSON MICHAEL THOMAS | director, officer: Chief Executive Officer | 20,000 | $81.11 | $1.62M | $96.76M |
| 2026-01-07 | SELL | Dambkowski Carl | officer: Chief Medical Officer | 18,700 | $77.84 | $1.46M | $16.54M |
| 2026-01-06 | SELL | Henderson Jane | officer: Chief Financial Officer | 2,000 | $80.00 | $160K | $14.83M |
| 2026-01-02 | SELL | Henderson Jane | officer: Chief Financial Officer | 6,000 | $74.86 | $449K | $14.03M |
| 2025-12-19 | SELL | Henderson Jane | officer: Chief Financial Officer | 1,500 | $80.00 | $120K | $15.47M |
Order Flow (FINRA, ~3w lag)
17.8%retail+4.0pp
37.1%dark-2.5pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
Apogee Therapeutics: The Paragon Pipeline and the Perpetual Dilution Machine
Overall Risk
6/10
Fraud
2/10
Dilution
8/10
Insolvency
2/10
Earnings Overstated
1/10
Hidden Liabilities
4/10
Legal
2/10
Audit Warnings
1/10
Hidden Upside
4/10
Contextually Acceptable
8/10