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Apogee Therapeutics (APGE) has an average rating of overweight and mean price target of $122.86, according to analysts polled by FactSet.Price: $132.63, Change: $+42.25, Percent Change: +46.75%
The Nasdaq Composite and S&P 500 were down, while the Dow Jones Industrial Average was up in late-morning trading Monday, as market participants assess the latest developments in negotiations between the US and Iran.The US Department of the Treasury on Monday said it has issued a general license authorizing the production, delivery, and sale of crude oil, petrochemical products and petroleum products of Iranian origin through Aug. 21.In company news, SpaceX (SPCX) has commenced its first offering of senior unsecured notes, the proceeds of which will be used to repay outstanding borrowings under its bridge loan facility and to pay related fees and expenses, the company said Monday in a regulatory filing. The remainder of the proceeds will go toward general corporate purposes, the filing said. Separately, SpaceX has signed a roughly $6.3 billion computing power agreement with Reflection AI, CNBC reported, citing materials it viewed. Under the deal, Reflection will get access to Nvidia (NVDA) GB300s and will pay SpaceX $150 million per month from July 1 through 2029, the report said. SpaceX shares were down 8.7% around midday, while Nvidia eased 0.3%.AbbVie (ABBV) has agreed to acquire Apogee Therapeutics (APGE) for $135.11 per share in cash for a total equity value of $10.9 billion, the companies said Monday. The acquisition includes Apogee's pipeline of multiple clinical-stage drug candidates for inflammatory and immunological diseases, they said. The deal is expected to close in Q3. AbbVie shares were up 5.9%, while Apogee shares were up 46.8%.Chevron (CVX) said Monday its Energy Forge One subsidiary has signed a 20-year power purchase agreement with Microsoft (MSFT) for a planned data center in West Texas to be operated by the tech giant. The data center, known as Project Kilby, is expected to eventually deliver about 2.67 gigawatts of capacity. Chevron shares were up 0.2%, while Microsoft was down 2.1%.Getty Images (GETY) said Sunday it has entered into a display agreement with OpenAI under which Getty content will be displayed within ChatGPT. Getty shares were up 110%.Meta Platforms (META) is investing $900 million in Cred, an Indian fintech startup, and it plans to appoint its founder, Kunal Shah, as the new leader of WhatsApp, Bloomberg reported Monday, citing a news release. Following the investment, Meta will own roughly 20% of Cred, which will be valued at $4.5 billion post-money, the report said. Meta shares were down 2.7%.Morgan Stanley (MS) has identified two sites within the city of Dallas for a phased approach to establishing a new large-scale operations hub, according to a city document. In the first phase, Morgan Stanley would invest about $96.9 million in real estate and business personal property improvements as part of a roughly 52-month lease of office space at a temporary location. For phase two, Morgan Stanley would invest about $684.2 million in real estate and business personal property improvements at a permanent location by the end of 2031. An additional estimated $650 million would then be expended by the developer/landlord to deliver the core and shell building at the permanent location, the document said. Morgan Stanley shares were up 1.7%.Price: $169.37, Change: $-15.64, Percent Change: -8.45%
Apogee Therapeutics (APGE) has an average rating of overweight and mean price target of $119.07, according to analysts polled by FactSet.Price: $132.65, Change: $+42.27, Percent Change: +46.76%
Apogee Therapeutics (APGE) has an average rating of overweight and mean price target of $119.07, according to analysts polled by FactSet.Price: $132.65, Change: $+42.27, Percent Change: +46.77%
AbbVie (ABBV) has agreed to acquire Apogee Therapeutics (APGE) in an all-cash deal worth about $10.9 billion, as the drugmaker looks to strengthen its immunology portfolio and accelerate its clinical presence in the respiratory segment.AbbVie will pay $135.11 a share in cash for Apogee, the companies said in a joint statement Monday. Apogee's shares surged by about 47% in Monday trading, while AbbVie gained 3.7%.The transaction will give AbbVie access to Apogee's portfolio of clinical-stage candidates currently in development for the treatment of inflammatory and immunological diseases, including atopic dermatitis and asthma.The company's lead candidate, zumilokibart, for atopic dermatitis showed "clinically significant results" in a phase 2 trial. Apogee is also developing APG273, a combination of zumilokibart with the thymic stromal lymphopoietin-blocking antibody APG333, for patients with asthma."The acquisition of Apogee further builds on our existing leadership, strengthening our ability to deliver innovative medicines to patients who need better options while also creating significant long-term value for shareholders," AbbVie Chief Executive Robert Michael said in a statement. "Apogee's pipeline adds highly differentiated clinical-stage assets, further expanding our robust immunology portfolio."The deal, which requires approval from regulators and clearance from Apogee's shareholders, is expected to close in the third quarter. AbbVie said the acquisition will be accretive to its adjusted earnings per share starting in 2032."This transaction reflects the strength of Apogee's vision, our team's dedication and the significant progress we've made advancing zumilokibart and our differentiated pipeline," Apogee CEO Michael Henderson said. "This transaction delivers substantial shareholder value and positions our programs to reach their full potential."In May, Apogee reported a first-quarter net loss of $74.1 million, compared with a loss of $55.3 million a year earlier. In the same month, the company announced a strategic financing collaboration with Blackstone (BX) Life Sciences for up to $1.3 billion to support the clinical development and potential commercialization of zumilokibart.AbbVie raised its full-year outlook in April as the biopharmaceutical company recorded better-than-expected first-quarter results.
Healthcare stocks were flat to lower premarket Monday, with the State Street Health Care Select Sector SPDR ETF (XLV) down 0.1% and the iShares Biotechnology ETF (IBB) inactive.AbbVie (ABBV) has agreed to acquire Apogee Therapeutics (APGE) for $135.11 per share in cash for a total equity value of $10.9 billion. Shares of Apogee Therapeutics were up nearly 47% pre-bell, while AbbVie rose 2.3%.Definium Therapeutics (DFTX) shares were up more than 60% after the company said the phase 3 Emerge trial of a single 100-microgram dose of DT120 orally disintegrating tablet in major depressive disorder met the primary endpoint, along with all key secondary efficacy endpoints.MapLight Therapeutics' (MPLT) phase 2 trial of ML-004 in autism spectrum disorder failed to meet its primary endpoint in social communication, the company said. MapLight Therapeutics stock was up 1.6% premarket.
Apogee Therapeutics (APGE) has an average rating of buy and mean price target of $119.50, according to analysts polled by FactSet.
Healthcare stocks were steady premarket Monday, with the State Street Health Care Select Sector SPDR ETF (XLV) down 0.3% and the iShares Biotechnology ETF (IBB) inactive.AbbVie (ABBV) has agreed to acquire Apogee Therapeutics (APGE) for $135.11 per share in cash for a total equity value of $10.9 billion. Shares of Apogee Therapeutics were up nearly 47% pre-bell, while AbbVie rose 2.4%.
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.2%, and the actively traded Invesco QQQ Trust (QQQ) advanced 0.2% in Monday's premarket activity, as traders focused on continuing US-Iran talks for a potentially positive outcome.US stock futures were higher, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average up 0.01%, and Nasdaq futures gaining 0.3% before the start of regular trading.Federal Reserve Governor Christopher Waller is slated to speak on Monday.In premarket action, bitcoin was up by 0.7%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.6% higher, Ether ETF (EETH) advanced 2.4%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 0.02%.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated by 0.1%, the Vanguard Health Care Index Fund (VHT) was up 0.2%, while the iShares US Healthcare ETF (IYH) advanced by 0.03%. The iShares Biotechnology ETF (IBB) was 0.8% higher.Apogee Therapeutics (APGE) stock rose more than 47% premarket after AbbVie (ABBV) agreed to acquire Apogee for $135.11 per share in cash for a total equity value of $10.9 billion. AbbVie shares were 1.1% higher.Winners and Losers:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.2%, while the Vanguard Industrials Index Fund (VIS) retreated 0.7% and the iShares US Industrials ETF (IYJ) was 0.5% lower.SpaceX (SPCX) stock was down by nearly 4% before the opening bell following a 3.6% fall at the prior close. The Financial Times reported Sunday that the company was assigned MSCI's lowest possible ESG rating, triple-C, just ahead of its $75 billion initial public offering earlier this month.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.7%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) retreated 0.1%, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.4%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was flat.Maplebear (CART) shares were down 2% pre-bell after closing Friday with a 4% rise. The company said Monday it launched a short-form vertical video feature that allows users to browse and shop meal and recipe content within retailer storefronts on its platform.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.4% lower.Robinhood Markets (HOOD) shares traded down 2% in early hours activity after the company said it plans to offer $2 billion worth of convertible senior notes due 2029 in a private placement.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced by 0.4%, and the iShares US Technology ETF (IYW) was 0.1% higher, while the iShares Expanded Tech Sector ETF (IGM) was down 1.6%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was up 2.2%, while the iShares Semiconductor ETF (SOXX) rose by 1.3%.ServiceNow (NOW) shares were down more than 1% in premarket activity. The company said it has teamed up with Inspira Enterprise to offer the full suite of ServiceNow capabilities to enterprises worldwide through the IT services and consulting firm's platform.EnergyThe iShares US Energy ETF (IYE) was flat, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.1%.CMB.TECH (CMBT) stock was up more than 2% before market open after the company said it will charter up to 12 shipping vessels capable of being powered by ammonia to Fortescue, an Australian metals and green-energy enterprise.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 0.9% to $75.17 per barrel on the New York Mercantile Exchange. Natural gas gained by 2.2% to $3.31 per 1 million British Thermal Units. The United States Oil Fund (USO) declined by 1.6%, while the United States Natural Gas Fund (UNG) was 2% higher.Gold futures for July were down by 0.5% to $4,223.20 an ounce on the Comex. Silver futures advanced by 0.1% to $66.84 an ounce. SPDR Gold Shares (GLD) declined by 0.2%, and the iShares Silver Trust (SLV) was 1.1% higher.
(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were marginally higher pre-bell Monday as traders considered the latest developments in the initial talks between the US and Iran, which target a more permanent peace deal.Dow Jones Industrial Average futures were 0.2% higher, S&P 500 futures were flat, and Nasdaq futures were 0.3% higher.After a memorandum of agreement was signed last week between US and Iran, US Vice President JD Vance and Iran's parliamentary speaker Mohammad Bagher Qalibaf completed the first round of high-level talks in Switzerland aimed at ending the war in the Middle East. Mediators Pakistan and Qatar said there was "encouraging progress" made in the negotiations, with technical discussions continuing this week.However, shipping stalled in the Strait of Hormuz over the weekend after Iran declared the waterway closed once again due to Israeli strikes in Lebanon, CNBC reported, citing data from maritime intelligence firm Windward. President Donald Trump said in a post on Truth Social that Iran should stop its proxies in Lebanon "from causing trouble." Trump added, "If they don't, we'll hit Iran very hard again, just like we did last week, only harder!!!"FedEx (FDX) and Micron Technology (MU), among others, are scheduled to report quarterly financial results this week.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2.5% at $78.06 per barrel and US West Texas Intermediate crude 1.7% lower at $74.56 per barrel.The economic calendar is vacant on Monday.In other world markets, Japan's Nikkei closed 1.6% higher, Hong Kong's Hang Seng ended 0.7% lower, and China's Shanghai Composite finished 1.8% higher. Meanwhile, the UK's FTSE 100 was up 0.5%, and Germany's DAX index was flat in Europe's early afternoon session.In equities, Alphabet (GOOG, GOOGL) shares were down 2.1% after Google DeepMind data scientist and Nobel Prize winner John Jumper said he is leaving the company to join Anthropic. SpaceX (SPCX) stock was down 3.8% after a Financial Times report that the company was assigned MSCI's lowest possible ESG rating, triple-C, ahead of its $75 billion initial public offering earlier this month. Robinhood Markets (HOOD) stocks fell 1.3% after the company said it plans to offer $2 billion worth of convertible senior notes due 2029 in a private placement.On the winning side, AbbVie (ABBV) and Apogee Therapeutics (APGE) shares were up 1.1% and 47%, respectively, after the two companies said AbbVie has agreed to acquire Apogee Therapeutics for $135.11 per share in cash for a total equity value of $10.9 billion.
Apogee Therapeutics (APGE) shares are close to "appropriately" reflecting their prospects in atopic dermatitis following its recent Part B results of zumilokibart, RBC said in a note Monday.RBC conducted a survey to gauge dermatologists' reactions to the data and how they might incorporate zumilokibart into their future clinical practice, the report said.The survey revealed slightly higher-than-expected potential switch expectations but lower-than-expected use in biologics-naives, the note said.The results improve confidence in RBC's $2.5 billion out-year US atopic dermatitis estimates, but not quite enough to warrant increasing its sales estimates, the report said."We are increasing our PoS to better reflect further de-risking both on the clinical and the market side, but we still believe shares are close to appropriately reflecting these prospects," the note said.RBC raised its price target to $97 from $82 while keeping its sector perform rating.Price: $84.66, Change: $-2.27, Percent Change: -2.61%
Apogee Therapeutics (APGE) entered a strategic financing collaboration with Blackstone (BX) Life Sciences for up to $1.3 billion in non-dilutive capital to support Phase 3 development and potential commercialization of zumilokibart, the company said Wednesday.The financing consists of up to $800 million in synthetic royalty funding and up to $500 million in senior corporate debt available at the mutual consent of Apogee and Blackstone.Under the agreement, Blackstone will provide royalty financing in exchange for low- to mid-single-digit tiered royalties on global sales of zumilokibart over 15 years, with the first $400 million in preapproval funding paid in staged tranches, including $100 million at signing, $100 million upon completion of Phase 3 enrollment and $200 million upon positive Phase 3 data.Apogee said the deal, along with its $1.3 billion cash balance, is expected to fund the company through commercialization without additional equity financing.Shares of Apogee Therapeutics were down more than 17% in Wednesday premarket trading.
Michael Thomas Henderson, Director, Chief Executive Officer, on May 13, 2026, sold 20,000 shares in Apogee Therapeutics (APGE) for $1,641,711. Following the Form 4 filing with the SEC, Henderson has control over a total of 1,115,987 common shares of the company, with 1,115,987 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1974640/000110465926062867/xslF345X05/tm2614621-1_4seq1.xml
Carl Dambkowski, Chief Medical Officer, on May 06, 2026, sold 5,500 shares in Apogee Therapeutics (APGE) for $462,784. Following the Form 4 filing with the SEC, Dambkowski has control over a total of 207,023 common shares of the company, with 207,023 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1974640/000110465926058129/xslF345X05/tm2613976-1_4seq1.xml
Apogee Therapeutics (APGE) has an average rating of buy and mean price target of $118.31, according to analysts polled by FactSet.
Michael Thomas Henderson, Director, Chief Executive Officer, on April 08, 2026, sold 20,000 shares in Apogee Therapeutics (APGE) for $1,651,664. Following the Form 4 filing with the SEC, Henderson has control over a total of 1,132,987 common shares of the company, with 1,132,987 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1974640/000110465926042155/xslF345X05/tm2611503-1_4seq1.xml
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