T. Rowe Price Investment Management, Inc. reports beneficial ownership of 6,213,827 shares of Apogee Therapeutics Inc common stock, representing 11.3% of the class as of 02/28/2026. The filing shows sole voting power for 5,879,389 shares and sole dispositive power for 6,206,591 shares. The T. Rowe Price Capital Appreciation Fund is identified as holding 3,290,061 shares (6.0%).
Positive
None.
Negative
None.
Insights
Large passive stake by an investment manager; institutional position disclosed.
Schedule 13G lists 6,213,827 shares, or 11.3% of Apogee Therapeutics, with sole voting power on 5,879,389 shares as of 02/28/2026. The filing attributes 3,290,061 shares to the T. Rowe Price Capital Appreciation Fund (6.0%).
Institutional ownership at this scale is noteworthy for shareholder composition; subsequent filings may show changes as client mandates evolve.
Filing clarifies voting and dispositive rights held by the adviser.
The report distinguishes sole voting and sole dispositive powers (5,879,389 and 6,206,591 shares respectively), indicating discretionary authority exercised by the adviser for client accounts.
Disclosure also states that ultimate dividend/proceeds rights reside with underlying clients and that any discretionary authority is revocable; monitor for any Schedule 13D or Form 4 that would signal activist intent or insider transactions.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
APOGEE THERAPEUTICS INC
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
02/28/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP Number(s):
1
Names of Reporting Persons
T. Rowe Price Investment Management, Inc.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
MARYLAND
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
5,879,389.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
6,206,591.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
6,213,827.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
11.3 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
APOGEE THERAPEUTICS INC
(b)
Address of issuer's principal executive offices:
221 CRESCENT ST., BUILDING 17, SUITE 102B, WALTHAM, MA, 02453
Item 2.
(a)
Name of person filing:
T. Rowe Price Investment Management, Inc.
(b)
Address or principal business office or, if none, residence:
1307 Point Street, Baltimore, MD 21231
(c)
Citizenship:
Maryland
(d)
Title of class of securities:
COMMON STOCK
(e)
CUSIP No.:
03770N101
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
6213827
(b)
Percent of class:
11.3 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
5879389
(ii) Shared power to vote or to direct the vote:
0
(iii) Sole power to dispose or to direct the disposition of:
6206591
(iv) Shared power to dispose or to direct the disposition of:
0
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
Ownership of More than Five Percent on Behalf of Another Person (1) Price Investment Management does not serve as custodian of the assets of any of its clients; accordingly, in each instance only the client or the client's custodian or trustee bank has the right to receive dividends paid with respect to, and proceeds from the sale of, such securities. The ultimate power to direct the receipt of dividends paid with respect to, and the proceeds from the sale of, such securities, is vested in the individual and institutional clients which Price Investment Management serves as investment adviser. Any and all discretionary authority which has been delegated to Price Investment Management may be revoked in whole or in part at any time. Except as may be indicated if this is a joint filing with one of the registered investment companies sponsored by Price Investment Management which it also serves as investment adviser ("T. Rowe Price Funds"), not more than 5% of the class of such securities is owned by any one client subject to the investment advice of Price Investment Management. (2) [T. ROWE PRICE CAPITAL APPRECIATION FUND ]: T. ROWE PRICE CAPITAL APPRECIATION FUND, of which T. Rowe Price Investment Management, Inc. is the investment adviser, holds the securities reported herein in their investment portfolio managed by T. Rowe Price Investment Management, Inc. and such funds have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities that they hold. T. ROWE PRICE CAPITAL APPRECIATION FUND has an interest in 3,290,061 of the class reported herein representing 6.0% of the class.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. T. Rowe Price Investment Management, Inc. hereby declares and affirms that the filing of Schedule 13G shall not be construed as an admission that Price Investment Management is the beneficial owner of the securities referred to, which beneficial ownership is expressly denied.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
What stake does T. Rowe Price hold in Apogee Therapeutics (APGE)?
T. Rowe Price Investment Management reports beneficial ownership of 6,213,827 shares, representing 11.3% of the common stock as of 02/28/2026. The filing lists sole voting power on 5,879,389 shares and sole dispositive power on 6,206,591 shares.
How many Apogee shares does the T. Rowe Price Capital Appreciation Fund own?
The T. Rowe Price Capital Appreciation Fund is reported to hold 3,290,061 shares, representing 6.0% of the class. These shares are part of the total 6,213,827 shares reported under the adviser’s Schedule 13G filing.
Does this Schedule 13G mean T. Rowe Price controls Apogee Therapeutics?
No definitive control is claimed; the filing shows sole voting rights on 5,879,389 shares but also states ultimate dividend and sale rights rest with underlying clients. The adviser expressly disclaims beneficial ownership in the filing.
What date applies to the ownership figures in this filing?
The ownership amounts are reported as of 02/28/2026, and the Schedule 13G was signed on 03/06/2026. The filing binds the reported share counts and percentage to the 02/28/2026 time anchor.
Will this filing trigger further disclosure from T. Rowe Price?
This Schedule 13G is a passive ownership disclosure; it does not itself indicate activist intent. If the adviser changes intent or takes an active role, filings such as a Schedule 13D or Form 4 could follow to reflect those actions.
