Avoro Capital Advisors 13F: Exits APGE Stake

Avoro Capital Advisors has closed out its investment in Apogee Therapeutics, Inc. (APGE). According to a recent 13F filing with the SEC for the period ending May 15, 2026, the fund sold 500,000 shares, bringing its total holdings to zero. This backward-looking report reflects the fund's position at the end of the quarter and may not represent its current holdings today.

Avoro Capital Exits Apogee Position

The move by Avoro Capital Advisors represents a 100.0% decrease in its stake. Previously, the firm held 500,000 shares of the biotechnology developer. By selling the entire block, the fund has fully exited its position during a period when the stock has seen a massive rise from its yearly lows.

Apogee Stock Performance

Shares of Apogee were recently trading at $132.73 on Saturday. The stock has experienced a strong climb over the past year, moving from a 52-week low of $35.39 to a high of $135.09. This price level is currently resting just above its 200-day moving average of $93.12, though it has stayed relatively flat compared to its 50-day moving average of $134.18. The company is valued at roughly $10.22 billion.

Recent Earnings and Financials

Apogee is a clinical-stage company focused on immunological and inflammatory diseases, and like many biotech firms in the development phase, it is not yet profitable. In its most recent financial reports, the company showed a loss of $4.34 per share. Its balance sheet remains liquid, however, with a current ratio of 26.4, meaning it has plenty of cash on hand to cover its short-term obligations. Investors are looking toward November 9, 2026, for the next scheduled earnings update.

Insider Buying and Selling at Apogee Therapeutics, Inc.

Corporate insiders have also been trimming their holdings lately. On June 22, 2026, Chief Medical Officer Carl Dambkowski sold 26,400 shares at a price of $132.60 each, a transaction worth about $3.50 million. This sale was made under a Rule 10b5-1 plan, which is a pre-set trading schedule often used by executives to sell shares at certain times regardless of any private company information.

Analysts Set New Price Targets

Wall Street's outlook on Apogee has shifted significantly. In June 2026, several major firms lowered their ratings following news that AbbVie Inc. would be taking over the company. On June 23, 2026, both Citigroup and Deutsche Bank downgraded the stock to a Neutral or Hold rating, with both firms setting a price target of $135.00. The following day, Mizuho, Stifel, and Guggenheim also moved to Neutral or Hold ratings. More recently, on August 13, 2026, Truist Securities maintained its Hold rating with a $135.00 price target. Currently, five analysts have an average rating of Hold on the stock.

About Apogee Therapeutics

Apogee Therapeutics develops biologic therapies for chronic conditions like asthma, atopic dermatitis, and COPD. The company specializes in engineering antibodies that last longer in the body, which could eventually mean patients need fewer injections. Based in San Francisco, the company recently became a subsidiary of the pharmaceutical giant AbbVie Inc. in early September 2026.

What's Ahead for Apogee Therapeutics, Inc.

With the acquisition by AbbVie now part of the company's structure, the focus for investors will likely shift to the progress of Apogee's clinical pipeline, including its lead antibody candidates. While 13F filings like the one from Avoro Capital give a glimpse into where big money was moving, they are delayed by several weeks. Shareholders should watch for further integration news and the upcoming November financial results for a clearer picture of the new subsidiary's path forward.