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Investment Highlights Market Valuation Price Chart Return vs. Risk About APGE Interactive Breakdown Better Bets vs. APGE Latest Trefis Analyses Trade Ideas Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

Apogee Therapeutics (APGE)

Market Price (10/31/2025): $56.03 | Market Cap: $3.3 Bil
Sector: Health Care | Industry: Biotechnology

Apogee Therapeutics (APGE)

Market Price (10/31/2025): $56.03
Market Cap: $3.3 Bil
Sector: Health Care
Industry: Biotechnology

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -15%		 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 15%		 Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
1   Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -271 Mil
2   Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -12%
0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -15%
1 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 15%
2 Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
3 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -271 Mil
4 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -12%

Market Valuation & Key Metrics

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APGE Stock

   
   
   
   
   
   
   
Factor Drivers of Stock Movement
The 43.0% change in APGE stock from 5/1/2025 to 10/30/2025 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).

501202510302025Change
Stock Price ($)39.2056.0442.96%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)0.000.00�
P/S Multiple∞∞�
Shares Outstanding (Mil)57.2558.43-2.06%
Cumulative Contribution�

LTM = Last Twelve Months as of date shown
The 2.1% change in APGE stock from 10/30/2024 to 10/30/2025 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).

1030202410302025Change
Stock Price ($)54.9056.042.08%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)0.000.00�
P/S Multiple∞∞�
Shares Outstanding (Mil)56.5258.43-3.39%
Cumulative Contribution�

LTM = Last Twelve Months as of date shown
null

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Return vs. Risk

Price Returns Compared

 202020212022202320242025Total [1]
Returns
APGE Return----62%24%91%
Peers Return-15%-9%-6%-3%-3%-16%-43%
S&P 500 Return16%27%-19%24%23%16%110%

Monthly Win Rates [3]
APGE Win Rate---60%58%44% 
Peers Win Rate18%15%23%31%22%51% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
APGE Max Drawdown-----1%-36% 
Peers Max Drawdown-20%-13%-14%-15%-30%-27% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 

[1] Cumulative total returns since the beginning of 2020
[2] Peers: VRTX, APM, BBOT, GDTC, HIND.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/30/2025 (YTD)

How Low Can It Go

APGE has limited trading history. Below is the Health Care sector ETF (XLV) in its place.

Unique KeyEventXLVS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-16.1%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven19.1%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven599 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-28.8%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven40.4%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven116 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-15.8%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven18.8%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven326 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-40.6%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven68.3%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven1100 days1480 days

Compare to


In The Past

SPDR Select Sector Fund's stock fell -16.1% during the 2022 Inflation Shock from a high on 4/8/2022. A -16.1% loss requires a 19.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Apogee Therapeutics (APGE)

Better Bets than Apogee Therapeutics (APGE)

 APGEBetter Performance than APGE
MetricValueIndustry (Biotechnology)
Total Yield-7.3%ABBV (3.7%), AMGN (7.4%), GILD (7.0%), VRTX (3.4%), REGN (7.2%)
 APGEBetter Performance than APGE
MetricValueAll Other Sectors
Total Yield-7.3%NVDA (1.8%), AAPL (2.8%), MSFT (3.3%), GOOGL (3.9%), AMZN (3.0%)
 Best Bets In Health Care Sector
 APGERPRX HALO CPRX BMY LNTH PBH BIIB PFE EW ILMN
What You Pay           
P/E-13.815.314.112.315.414.014.013.612.811.812.4
P/EBIT-12.18.111.010.59.39.69.010.110.329.210.3
What You Get           
Rev Chg Q�7.7%40.8%19.4%2.8%-4.1%-6.6%2.8%10.3%11.9%-4.8%
Rev Chg LTM�3.0%35.0%28.5%1.3%5.7%0.6%4.8%13.5%9.1%-3.3%
Rev Chg 3Y Avg�0.8%35.5%49.9%1.0%34.3%0.8%-0.9%-12.4%3.0%-3.0%
FCF/Rev 3Y Avg�113.4%43.4%38.9%29.0%26.1%21.6%17.0%13.8%11.9%9.0%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 11%, alpha of 1.9%, and sharpe of 0.52

Latest Trefis Analyses

Trade Ideas

Select past ideas related to APGE. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ADMA_9302025_Dip_Buyer_ValueBuy09302025ADMAADMA BiologicsDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		5.9%5.9%-4.6%
REGN_9302025_Dip_Buyer_ValueBuy09302025REGNRegeneron PharmaceuticalsDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		16.1%16.1%-0.8%
HAE_9262025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG09262025HAEHaemoneticsDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap		2.6%2.6%-0.1%
WAT_9192025_Monopoly_xInd_xCD_Getting_Cheaper09192025WATWatersMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		14.2%14.2%-4.3%
ISRG_9052025_Monopoly_xInd_xCD_Getting_Cheaper09052025ISRGIntuitive SurgicalMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		15.2%15.2%-8.0%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ADMA_9302025_Dip_Buyer_ValueBuy09302025ADMAADMA BiologicsDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		5.9%5.9%-4.6%
REGN_9302025_Dip_Buyer_ValueBuy09302025REGNRegeneron PharmaceuticalsDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		16.1%16.1%-0.8%
HAE_9262025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG09262025HAEHaemoneticsDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap		2.6%2.6%-0.1%
WAT_9192025_Monopoly_xInd_xCD_Getting_Cheaper09192025WATWatersMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		14.2%14.2%-4.3%
ISRG_9052025_Monopoly_xInd_xCD_Getting_Cheaper09052025ISRGIntuitive SurgicalMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		15.2%15.2%-8.0%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1INBXInhibrx Biosciences176.8%409.8%
2PUMPProPetro71.2%16.2%
3RNAAvidity Biosciences43.5%139.6%
4DYNDyne Therapeutics42.8%-0.0%
5GCIGannett39.3%3.8%
6FORMFormFactor38.3%34.7%
7MBXMBX Biosciences35.1%18.2%
8BBNXBeta Bionics33.8% 
9GHGuardant Health33.3%202.5%
10LUMNLumen Technologies32.7%94.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1PMIPicard Medical-75.2%5106.3%
2LRNStride-56.1%-35.8%
3NTLAIntellia Therapeutics-52.6%5.2%
4FMCFMC-48.7%-66.6%
5FIFiserv-47.4%-68.3%
6VRNSVaronis Systems-43.8%-21.2%
7THRYThryv-33.4%-44.8%
8NFENew Fortress Energy-30.5%-91.9%
9AKBAAkebia Therapeutics-29.5%10.5%
10UAMYUnited States Antimony-28.9%371.2%

1 Month Top Gainers

#TickerCompany1M RtnYTD Rtn
1PRAXPraxis Precision Medicines279.1%161.2%
2INBXInhibrx Biosciences131.0%409.8%
3PUMPProPetro99.6%16.2%
4DYNDyne Therapeutics88.4%-0.0%
5VICRVicor85.4%89.2%
6CELCCelcuity74.6%503.2%
7GLUEMonte Rosa Therapeutics73.5%87.5%
8NVTSNavitas Semiconductor72.1%251.8%
9LUMNLumen Technologies70.3%94.7%
10BALYBallys63.4%4.1%

1 Month Top Losers

#TickerCompany1M RtnYTD Rtn
1PMIPicard Medical-62.9%5106.3%
2LRNStride-53.8%-35.8%
3FMCFMC-51.0%-66.6%
4FIFiserv-48.3%-68.3%
5NFENew Fortress Energy-43.6%-91.9%
6VGVenture Global-41.7% 
7OGNOrganon-40.2%-55.0%
8VRNSVaronis Systems-39.5%-21.2%
9ITGRInteger-38.5%-52.2%
10LENZLENZ Therapeutics-37.9%5.5%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1INBXInhibrx Biosciences176.8%409.8%
2PUMPProPetro71.2%16.2%
3RNAAvidity Biosciences43.5%139.6%
4DYNDyne Therapeutics42.8%-0.0%
5GCIGannett39.3%3.8%
6FORMFormFactor38.3%34.7%
7MBXMBX Biosciences35.1%18.2%
8BBNXBeta Bionics33.8% 
9GHGuardant Health33.3%202.5%
10LUMNLumen Technologies32.7%94.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1PMIPicard Medical-75.2%5106.3%
2LRNStride-56.1%-35.8%
3NTLAIntellia Therapeutics-52.6%5.2%
4FMCFMC-48.7%-66.6%
5FIFiserv-47.4%-68.3%
6VRNSVaronis Systems-43.8%-21.2%
7THRYThryv-33.4%-44.8%
8NFENew Fortress Energy-30.5%-91.9%
9AKBAAkebia Therapeutics-29.5%10.5%
10UAMYUnited States Antimony-28.9%371.2%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Apogee Therapeutics

Financials

APGEVRTXAPMBBOTGDTCHINDMedian
NameApogee T.Vertex P.Aptorum BridgeBi.CytoMed .Vyome  
Mkt Price56.04419.891.4712.002.155.588.79
Mkt Cap3.3107.8----55.5
Rev LTM011,419-0--0
Op Inc LTM-271-199--93---199
FCF LTM-2273,500--60---60
FCF 3Y Avg-1,984----1,984
CFO LTM-2213,846--60---60
CFO 3Y Avg-2,324----2,324

Growth & Margins

APGEVRTXAPMBBOTGDTCHINDMedian
NameApogee T.Vertex P.Aptorum BridgeBi.CytoMed .Vyome  
Rev Chg LTM-10.5%----10.5%
Rev Chg 3Y Avg-11.0%----11.0%
Rev Chg Q-12.1%----12.1%
QoQ Delta Rev Chg LTM-2.9%----2.9%
Op Mgn LTM--1.7%-----1.7%
Op Mgn 3Y Avg-26.5%----26.5%
QoQ Delta Op Mgn LTM-2.0%----2.0%
CFO/Rev LTM-33.7%----33.7%
CFO/Rev 3Y Avg-22.5%----22.5%
FCF/Rev LTM-30.6%----30.6%
FCF/Rev 3Y Avg-19.2%----19.2%

Valuation

APGEVRTXAPMBBOTGDTCHINDMedian
NameApogee T.Vertex P.Aptorum BridgeBi.CytoMed .Vyome  
Mkt Cap3.3107.8----55.5
P/S-9.4----9.4
P/EBIT-12.124.5----6.2
P/E-13.829.6----7.9
P/CFO-14.828.0----6.6
Total Yield-7.3%3.4%-----1.9%
Dividend Yield0.0%0.0%----0.0%
FCF Yield 3Y Avg-2.1%----2.1%
D/E0.00.0----0.0
Net D/E-0.2-0.0-----0.1

Returns

APGEVRTXAPMBBOTGDTCHINDMedian
NameApogee T.Vertex P.Aptorum BridgeBi.CytoMed .Vyome  
1M Rtn41.1%7.2%-27.2%3.6%8.0%7.7%7.5%
3M Rtn46.5%-8.1%-5.2%-14.4%-4.6%
6M Rtn43.0%-15.8%59.8%--6.5%-18.2%
12M Rtn2.1%-11.6%5.0%--3.4%--0.7%
3Y Rtn-34.6%-76.8%----21.1%
1M Excs Rtn40.6%2.2%-34.2%-1.9%5.3%-0.2%1.0%
3M Excs Rtn39.1%-18.5%-2.1%-8.1%-3.0%
6M Excs Rtn21.2%-37.6%38.0%--28.3%--3.5%
12M Excs Rtn-15.1%-29.0%-17.8%--33.2%--23.4%
3Y Excs Rtn--41.0%-151.9%----96.5%

Financials

$ Mil | FY: 12/312025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q42022Q3
Period End6/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/20233/31/202312/31/20229/30/2022
Filing Date8/11/20255/12/20253/3/202511/12/20248/12/20245/13/20243/5/202411/13/20238/28/20237/17/20237/17/202311/13/2023
Key Financials Quarterly            
Total Revenue000000000000
Ebitda-73-63-76-59-44-38-37-24-19-13-14-11
Operating Income-73-63-76-59-44-38-37-24-19-13-14-11
Net Income-66-55-67-49-34-32-32-21-19-13-14-20
EPS-1.13-0.95-1.19-0.86-0.60-0.64-0.65-0.51-0.40-0.46-0.51-9.46
Key Financials TTM            
Total Revenue TTM0000000000--
Ebitda TTM-270-241-217-178-144-118-93-70-56-39--
Operating Income TTM-271-242-217-178-144-119-93-70-56-39--
Net Income TTM-238-205-182-147-118-104-84-66-65-48--
Growth Rates Quarterly            
Total Revenue Growth------------
EBITDA Growth-65.1%-64.8%-104.0%-141.3%-133.4%-201.4%-165.3%-131.3%-939.9%---
Operating Income Growth-65.8%-65.3%-104.2%-141.5%-133.6%-201.6%-163.5%-131.3%-939.9%---
Net Income Growth-95.5%-72.4%-111.8%-135.2%-79.1%-156.2%-126.6%-6.0%-939.9%---
Margins Quarterly            
EBITDA Margin------------
Operating Income Margin------------
Net Income Margin------------
Cash & Debt            
Total Cash505513521526676816395423125141152-
Total Debt1112121242200000
Net Debt / (Cash)-495-502-509-514-672-814-393-423-125-141-152-
Cash Flows Quarterly            
FCF from Operations-62-48-68-43-29-32-30-20-15-11-9-
Cash Flows TTM            
FCF from Operations TTM-221-188-171-133-111-96-75-54----
Returns to Shareholders Quarterly            
Dividends000000000000
Share Repurchases-0-0-0-0-0-0-0-0-0-0-0-0
Return on Invested Capital (ROIC) Quarterly            
ROIC-53.0%-47.3%-59.1%-51.1%-60.6%-51.1%-134.8%-57.0%----
Return on Invested Capital (ROIC) TTM            
ROIC TTM-49.0%-45.4%-42.2%-38.8%-49.4%-39.7%-84.4%-41.0%----

Price Behavior

APGE Betas & Captures as of 9/30/2025

 1M2M3M6M1Y3Y
Beta-0.870.601.491.291.25-0.11
Up Beta-0.581.040.361.041.23-0.03
Down Beta-3.13-0.270.571.200.99-0.11
Up Capture50%64%146%185%121%80%
Bmk +ve Days13233574144420
Stock +ve Days12193160123282
Down Capture-229%61%299%171%137%98%
Bmk -ve Days8192952107330
Stock -ve Days9233265127272

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date10152025
Short Interest: Shares Quantity8,545,761
Short Interest: % Change Since 9302025-9.6%
Average Daily Volume1,074,878
Days-to-Cover Short Interest7.95
Basic Shares Quantity58,428,344
Short % of Basic Shares14.6%

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/11/2025-2.1%5.4%8.7%
5/12/20256.1%8.9%12.7%
3/3/2025-0.2%14.9%18.8%
11/12/2024-5.1%-25.0%-19.3%
8/12/20249.8%11.7%22.2%
3/5/202442.1%58.6%43.7%
11/13/20237.3%20.6%40.6%
8/28/2023-1.8%4.0%-12.4%
SUMMARY STATS   
# Positive476
# Negative412
Median Positive8.5%11.7%20.5%
Median Negative-1.9%-25.0%-15.9%
Max Positive42.1%58.6%43.7%
Max Negative-5.1%-25.0%-19.3%

SEC Filings

Expand for More

Report DateFiling DateFiling
6302025811202510-Q 6/30/2025
3312025512202510-Q 3/31/2025
12312024303202510-K 12/31/2024
93020241112202410-Q 9/30/2024
6302024812202410-Q 6/30/2024
3312024513202410-Q 3/31/2024
12312023305202410-K 12/31/2023
93020231113202310-Q 9/30/2023
6302023828202310-Q 6/30/2023
123120227172023424B4 12/31/2022

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value		Value of
Held Shares		Form
0Dambkowski CarlChief Medical Officer8082025Sell37.782,725102,9508,926,394Form
1Dambkowski CarlChief Medical Officer6062025Sell36.962,725100,7168,934,082Form
2Dambkowski CarlChief Medical Officer5092025Sell35.752,72597,4198,739,016Form
3Dambkowski CarlChief Medical Officer4042025Sell35.562,47187,8698,838,865Form
4Dambkowski CarlChief Medical Officer3072025Sell30.481,59048,4637,651,486Form

Industry Resources

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