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What this page is: Delvantic's full research page for Apogee Therapeutics Inc. (APGE) — AI-driven forensic equity research: mechanical valuation models (DCF, EPV, anchored-PE, scenario) plus three independent AI lenses (Quality / Value / Sentiment). Everything below is rendered server-side; you are not missing content that requires JavaScript. All scores are predictions and research opinions, not financial advice.
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profile-header/price-overview— company profile, live quote, market capextended-analysis— the core: three AI lens reads with findings, scores, and the analyst memofuture-predictions— our forward price-band predictionsmarket-narrative/ai-findings/gpt-critique— narrative context, cross-model findings, and an adversarial critique of our own analysis (near the end of the document)- Members-only sections (render as login gates for anonymous readers):
price-history,income-trend,key-metrics,financials(statement tables),insider-trading. The analysis above is public; the raw data tables require a free account.
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Healthcare · Biotechnology
Waltham, MA 02453, United States
apogeetherapeutics.com
Price
$134.64
Market Cap
$10.1B
Employees
261
Beta
0.34
Avg Volume
1,752,080
CEO
Dr. Michael Thomas Henderson M.D.
Apogee Therapeutics Inc. is a clinical-stage biotechnology company focused on developing biologic medicines for immunological and inflammatory diseases. Headquartered in Waltham, Massachusetts and founded in 2022, the company concentrates on validated immunology targets and applies advanced antibody engineering to optimize half-life, dosing convenience, and overall therapeutic profile. Its lead program, zumilokibart (formerly APG777), is a monoclonal antibody targeting IL-13, initially developed for atopic dermatitis and also being evaluated in asthma and eosinophilic esophagitis. Beyond this flagship candidate, Apogee is building a diversified pipeline of novel antibodies and combinations, such as APG273, directed at key inflammatory pathways relevant to dermatologic, respiratory, and gastroenterological conditions including asthma, chronic obstructive pulmonary disease, and other type 2 inflammatory disorders. Operating as a single reportable segment centered on research and development, Apogee collaborates with global clinical and manufacturing partners, aiming to bring differentiated biologic options to large, underserved inflammatory and immunology markets.
Runs with full report
Earnings Schedule
Checked daily · calendar updated Aug 11 No upcoming print on the calendar yet — companies typically confirm a few weeks ahead. Last print was Jul 17, 2026.
EPS surprise history — vs analyst consensus · 5 prints of vendor history
+1.0%
Mar '26
+7.2%
Mar '26
+6.2%
May '26
+40.0%
May '26
-55.6%
Jul '26
| Print date | EPS est. | EPS actual | Revenue est. | Revenue actual |
|---|---|---|---|---|
| Jul 17, 2026 | $-0.09 | $-0.14 -55.6% | — | — |
| May 21, 2026 | $2.60 | $3.64 +40.0% | — | — |
| May 11, 2026 | $-1.13 | $-1.06 +6.2% | — | — |
| Mar 18, 2026 | $2.51 | $2.69 +7.2% | — | — |
| Mar 2, 2026 | $-1.04 | $-1.03 +1.0% | — | — |
Green = beat the estimate, red = missed. An earnings print is the fastest way a thesis changes — our designations should be re-read after each one.
Recent SEC Filings
| Filed | Form | Document |
|---|---|---|
| Aug 10, 2026 | 10-Q | View |
| Aug 10, 2026 | 8-K | View |
| Aug 7, 2026 | 4 | View |
| Aug 6, 2026 | DEFA14A | View |
| Aug 3, 2026 | DEFA14A | View |
| Jul 24, 2026 | 4 | View |
| Jul 16, 2026 | 4 | View |
| Jul 13, 2026 | DEFM14A | View |
| Jul 10, 2026 | 4 | View |
| Jul 8, 2026 | SCHEDULE 13G/A | View |
| Jul 8, 2026 | SCHEDULE 13G/A | View |
| Jul 8, 2026 | SCHEDULE 13G/A | View |
Filings link to the SEC’s EDGAR system. Annual/quarterly reports (10-K, 10-Q, 20-F) carry the full story; 8-K/6-K current reports are the fastest signal that something material happened.
Price Overview
Last updated: Aug 11, 2026 11:12am (just now)
Current data · timestamped when a report runs
$134.64
Change · Aug 11
-0.01 (-0.01%)
Day Range
$134.57 – $134.65
52-Week Range
$34.40 – $134.88
50-Day MA
$120.28
200-Day MA
$85.72
Volume
30,446.00
Share Structure
Outstanding
74,882,396.00
Float
58,044,263.00
Free Float
77.5%
Normal free float
— 77.5% of shares trade freely, ~22.5% held by insiders/institutions
Healthy float typical of established companies. Good liquidity for entering and exiting positions without major price impact.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
TD Twelve Data statement
HEX SEC filing
P/E Ratio (Price per dollar of earnings)
HEXStock Price / EPS (Diluted)
-31.91
Stock Price: $134.64
EPS (Diluted): -4.22
EPS (Diluted): -4.22
P/B Ratio (Price vs net asset value)
HEXStock Price / Book Value Per Share
—
Stock Price: $134.64
Total Equity: N/A
Shares: 60,690,820
Total Equity: N/A
Shares: 60,690,820
Equity not available in balance sheet
EV/EBITDA (Total value vs operating profit)
HEXEnterprise Value / EBITDA
-32.55
Market Cap: $10.12B
Total Debt: $0.00
Cash: $131.55M
EBITDA: -$284.18M
Total Debt: $0.00
Cash: $131.55M
EBITDA: -$284.18M
Enterprise Value (Takeover price (cap + debt - cash))
HEXMarket Cap + Total Debt - Cash
$9.2B
Market Cap: $10.12B
Total Debt: $0.00
Cash: $131.55M
Total Debt: $0.00
Cash: $131.55M
Gross Margin (Revenue left after direct costs)
HEXGross Profit / Revenue
—
Gross Profit: N/A
Revenue: N/A
Revenue: N/A
Missing from API: Gross Profit, Revenue
Operating Margin (Revenue left after all operations)
HEXOperating Income / Revenue
—
Operating Income: -$285.60M
Revenue: N/A
Revenue: N/A
Missing from API: Revenue
Net Margin (Revenue left as actual profit)
HEXNet Income / Revenue
—
Net Income: -$255.84M
Revenue: N/A
Revenue: N/A
Missing from API: Revenue
ROE (Profit from shareholder equity)
HEXNet Income / Total Equity
—
Net Income: -$255.84M
Total Equity: N/A
Total Equity: N/A
Equity not in balance sheet
ROIC (Profit from all invested capital)
HEXNOPAT / Invested Capital
—
Operating Income: -$285.60M
Tax Rate: -0.1%
Equity: N/A
Total Debt: $0.00
Cash: $131.55M
Tax Rate: -0.1%
Equity: N/A
Total Debt: $0.00
Cash: $131.55M
Zero debt — invested capital = equity minus cash (very efficient)
Current Ratio (Can it pay short-term bills)
HEXCurrent Assets / Current Liabilities
26.57
Current Assets: $741.36M
Current Liabilities: $27.91M
Current Liabilities: $27.91M
Debt/Equity (Leverage — debt vs equity)
HEXTotal Debt / Total Equity
—
Short-Term Debt: $0.00
Long-Term Debt: $0.00
Total Debt: $0.00
Total Equity: N/A
Long-Term Debt: $0.00
Total Debt: $0.00
Total Equity: N/A
Zero debt — this company carries no debt obligations. Strongest possible score.
Rev/Share (Top-line per share)
HEXRevenue / Shares Outstanding
—
Revenue: N/A
Shares: 60,690,820
Shares: 60,690,820
Missing from API: Revenue
Book Value/Share (Net assets per share)
HEX(Total Assets - Total Liabilities) / Shares
—
Total Equity: N/A
Shares: 60,690,820
Shares: 60,690,820
Missing from API: Total Equity
FCF/Share (Real cash generated per share)
HEX(Operating Cash Flow + CapEx) / Shares
$-3.83
Operating CF: -$227.45M
CapEx: -$5.15M
Shares: 60,690,820
CapEx: -$5.15M
Shares: 60,690,820
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
TDLast Annual Dividend / Stock Price
—
Last Dividend: $0.00
Stock Price: $134.64
Stock Price: $134.64
Payout Ratio (Earnings paid out as dividends)
HEXDividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$255.84M
Net Income: -$255.84M
Dividends paid not available in cash flow statement
Income Statement (Annual)
Last updated: Aug 6, 2026 9:26pm (4d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | — | — | — | — |
| Cost of Revenue | — | — | — | — |
| Gross Profit | — | — | — | — |
| Operating Expenses | $30.7M | $93.0M | $216.9M | $285.6M |
| Operating Income | -$30.7M | -$93.0M | -$216.9M | -$285.6M |
| Net Income | -$39.8M | -$84.0M | -$182.1M | -$255.8M |
| EBITDA | — | — | -$216.7M | -$284.2M |
| EPS | $-16.16 | $-3.36 | $-3.30 | $-4.22 |
| EPS (Diluted) | $-16.16 | $-3.36 | $-3.30 | $-4.22 |
Balance Sheet (Annual)
Last updated: Aug 6, 2026 9:26pm (4d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Cash & Equivalents | $151.9M | $118.3M | $141.8M | $131.5M |
| Total Current Assets | $152.1M | $398.4M | $529.7M | $741.4M |
| Total Assets | $152.1M | $401.4M | $754.0M | $937.1M |
| Current Liabilities | $10.0M | $20.6M | $28.6M | $27.9M |
| Long-Term Debt | — | — | — | — |
| Total Liabilities | $10.0M | $21.5M | $37.2M | $33.3M |
| Total Equity | — | — | — | — |
| Retained Earnings | -$39.8M | -$123.8M | -$305.9M | -$561.8M |
Cash Flow (Annual)
Last updated: Aug 6, 2026 9:26pm (4d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Operating Cash Flow | -$16.4M | -$74.8M | -$171.2M | -$227.5M |
| Capital Expenditure | — | $-167,000 | -$1.2M | -$5.1M |
| Free Cash Flow | — | -$74.9M | -$172.3M | -$232.6M |
| Acquisitions (net) | — | — | — | — |
| Net Debt Issued / (Repaid) | — | — | — | — |
| Dividends Paid | — | — | — | — |
| Stock Buybacks | — | — | — | — |
| Net Change in Cash | $151.9M | -$33.3M | $23.5M | -$10.5M |
Growth Trends (YoY %)
Last updated: Aug 6, 2026 9:26pm (4d ago)| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue Growth | — | — | — |
| Gross Profit Growth | — | — | — |
| Operating Income Growth | -202.7% | -133.2% | -31.7% |
| Net Income Growth | -111.1% | -116.9% | -40.5% |
| EBITDA Growth | — | — | -31.1% |
Insider Trading (Recent)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-07-24 | Henderson Jane | G-Gift | 15,000.00 | $0.00 | $0 |
| 2026-07-14 | Dambkowski Carl | G-Gift | 8,000.00 | $0.00 | $0 |
| 2026-07-10 | HENDERSON MICHAEL THOMAS | G-Gift | 75,046.00 | $0.00 | $0 |
| 2026-07-08 | HENDERSON MICHAEL THOMAS | S-Sale | 20,000.00 | $133.63 | $2.7M |
| 2026-07-01 | Dambkowski Carl | M-OptionExercise | 4,125.00 | $0.00 | $0 |
| 2026-07-01 | Dambkowski Carl | S-Sale | 5,500.00 | $132.74 | $730,070 |
| 2026-06-22 | Dambkowski Carl | S-Sale | 26,400.00 | $132.60 | $3.5M |
| 2026-06-22 | HENDERSON MICHAEL THOMAS | S-Sale | 80,000.00 | $132.54 | $10.6M |
| 2026-06-10 | HENDERSON MICHAEL THOMAS | S-Sale | 6,770.00 | $82.21 | $556,562 |
| 2026-06-10 | HENDERSON MICHAEL THOMAS | S-Sale | 7,654.00 | $82.78 | $633,598 |
| 2026-06-10 | HENDERSON MICHAEL THOMAS | S-Sale | 1,080.00 | $84.18 | $90,914 |
| 2026-06-10 | HENDERSON MICHAEL THOMAS | S-Sale | 1,577.00 | $85.19 | $134,345 |
| 2026-06-10 | HENDERSON MICHAEL THOMAS | S-Sale | 2,305.00 | $86.27 | $198,852 |
| 2026-06-10 | HENDERSON MICHAEL THOMAS | S-Sale | 614.00 | $86.89 | $53,350 |
| 2026-06-09 | Fairmount Funds Management LLC | A-Award | 7,657.00 | $0.00 | $0 |
| 2026-06-09 | Kiselak Tomas | A-Award | 7,657.00 | $0.00 | $0 |
| 2026-06-09 | Shah Nimish P | A-Award | 7,657.00 | $0.00 | $0 |
| 2026-06-09 | McKenna Mark C. | A-Award | 7,657.00 | $0.00 | $0 |
| 2026-06-09 | JONES WILLIAM A JR | A-Award | 7,657.00 | $0.00 | $0 |
| 2026-06-09 | Fox Jennifer A. | A-Award | 7,657.00 | $0.00 | $0 |
Industry Benchmarks
Compares APGE against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for APGE — it's generated by the pipeline (
market-narrative step).
Claude Reading
No AI findings yet for APGE — they're generated by the
pipeline (
ai-findings step) when a report is run on this ticker.
GPT Reading
No GPT reading yet for APGE — it's generated by the
pipeline (
gpt-critique step) after the other Big-3 seats, when a
report is run on this ticker.
Grok Reading
No Grok reading yet for APGE — it's generated by the
pipeline (
grok-critique step) alongside the other Big-3 seats, when a
report is run on this ticker.
Advanced Analysis Forensic deep-dive · four lenses
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Data via Financial Modeling Prep · Cached for performance · twelvedata
v1.1.525 · a5aac093 · 2026-08-10 20:52:14