On February 17, 2026, Perceptive Advisors disclosed a buy of 978,662 shares of Apogee Therapeutics (APGE 1.66%), with an estimated transaction value of $61.64 million based on quarterly average pricing.
What happened
According to a February 17, 2026, SEC filing, Perceptive Advisors increased its stake in Apogee Therapeutics (APGE 1.66%) by 978,662 shares. The estimated transaction value was $61.64 million, based on the average share price during the fourth quarter of 2025. The fund ended the quarter holding 2,330,651 shares, with the value of the position rising by $122.20 million, reflecting both new purchases and share price appreciation.
What else to know
- This buy takes Apogee Therapeutics to 3.14% of Perceptive Advisors' 13F AUM as of December 31, 2025.
- Top holdings after the filing:
- NASDAQ:PRAX: $588.30 million (10.8% of AUM)
- NASDAQ:CELC: $315.20 million (5.8% of AUM)
- NASDAQ:RYTM: $272.57 million (5.0% of AUM)
- NASDAQ:ASND: $230.60 million (4.2% of AUM)
- NASDAQ:ROIV: $173.28 million (3.2% of AUM)
- As of February 17, 2026, shares were priced at $69.64, up 99.4% over the past year, outperforming the S&P 500 by 78.67 percentage points,
Company overview
| Metric | Value |
|---|---|
| Price (as of market close 2/17/26) | $69.64 |
| Market Capitalization | $3.82 billion |
| Net Income (TTM) | ($253.67 million) |
| One-Year Price Change | 99.37% |
Company snapshot
- Apogee Therapeutics develops biologic therapeutics targeting atopic dermatitis, chronic obstructive pulmonary disease, and related immunology indications, with lead candidates APG777 and APG808 in clinical development.
- The company operates a biotechnology model focused on research, clinical development, and eventual commercialization of proprietary monoclonal antibody therapies; revenue is expected to derive from product sales upon regulatory approval.
- It targets healthcare providers and patients affected by inflammatory and immunological diseases, with a primary focus on dermatology and respiratory markets.
Apogee Therapeutics, Inc. is a biotechnology company specializing in the development of extended half-life monoclonal antibodies for the treatment of atopic dermatitis and chronic obstructive pulmonary disease. The company leverages a pipeline of differentiated biologic candidates designed to address significant unmet needs in immunology. Apogee's strategy focuses on advancing its clinical programs to commercialization, aiming to establish a competitive position in targeted therapeutic markets.
What this transaction means for investors
Capital flows sometimes reveal more than headlines, and when a specialist biotech investor meaningfully adds to a name that has already doubled in a year, it signals conviction not just in momentum but in platform durability.
Apogee Enterprises recently delivered third-quarter net sales of $348.6 million, up 2.1% year over year, with adjusted EBITDA of $46.1 million and a 13.2% adjusted EBITDA margin. Diluted EPS came in at $0.77, or $1.02 on an adjusted basis. Management now expects fiscal 2026 sales of about $1.39 billion and adjusted diluted EPS between $3.40 and $3.50.
This is not a top holding, at just over 3% of 13F assets, especially compared with larger positions in names like Praxis or Celcuity. But the position still suggests this is a calculated growth allocation even if not a portfolio anchor.
Long term investors should focus on pipeline differentiation in atopic dermatitis and COPD, the extended half-life antibody approach, and capital discipline. A stock that has run about 100% can still compound if clinical execution matches ambition. The bet here looks sized for upside, not desperation.
