--- title: "U.S. stock market midday update: Cue BioPharma down 12.92% with no negative news, large volume fluctuations raise concerns" type: "News" locale: "en" url: "https://longbridge.com/en/news/290592312.md" description: "Cue BioPharma fell 12.92%; Apogee Therapeutic rose 0.26%, with a transaction volume of USD 787 million; AbbVie rose 2.00%, with a transaction volume of USD 658 million; Gilead Sciences rose 0.54%, with a transaction volume of USD 305 million; Amgen rose 0.83%, with a market capitalization of USD 187.6 billion" datetime: "2026-06-23T16:47:24.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/290592312.md) - [en](https://longbridge.com/en/news/290592312.md) - [zh-HK](https://longbridge.com/zh-HK/news/290592312.md) --- # U.S. stock market midday update: Cue BioPharma down 12.92% with no negative news, large volume fluctuations raise concerns **U.S. Stock Market Midday Update** Cue BioPharma, down 12.92%, with increased trading volume and no significant news recently. The trading is active, with clear capital flow. Considering the sector and industry trends, the stock shows significant volatility, and the specific reasons need further observation. **Stocks with High Trading Volume in the Industry** Apogee Therapeutics up 0.26%. Based on recent key news: 1. On June 22, AbbVie announced it would acquire Apogee Therapeutics for $135.11 per share in cash, with a total transaction value of approximately $10.9 billion, a 49% premium over the closing price. This news significantly boosted Apogee's stock price. Source: Reuters 2. On June 22, Apogee Therapeutics secured a $130 million financing agreement from Blackstone to support the clinical development of its experimental eczema drug. This financing enhanced market confidence in its R&D capabilities. Source: Financial Times 3. On June 23, RBC Capital raised its target price for Apogee Therapeutics from $97 to $135, reflecting positive market expectations for its acquisition deal. Source: Barron's The biotech industry has seen frequent acquisition activities recently, with noticeable capital inflow. AbbVie up 2.00%. Based on recent key news: 1. On June 22, AbbVie announced the acquisition of Apogee Therapeutics for $10.9 billion to strengthen its immunology product line. This move is expected to enhance the company's long-term profitability, with the stock price rising 3.7%. Source: Zhitong Finance 2. On June 23, analysts believe AbbVie's acquisition will make it more competitive in the immunology field, especially against Sanofi's Dupixent. This deal is expected to close in the third quarter. Source: Financial Associated Press 3. On June 23, Canaccord Genuity raised AbbVie's target price to $273, maintaining a "Buy" rating, reflecting positive market expectations for the acquisition. Source: Gelonghui The biopharmaceutical industry is active in mergers and acquisitions, with attention to risks. Gilead Sciences up 0.54%. Based on recent news: 1. On June 23, the European Commission approved Gilead's Trodelvy as a first-line monotherapy for metastatic TNBC. This decision is based on ASCENT-03 study data, showing a 38% reduction in the risk of disease progression or death compared to standard chemotherapy. This approval boosted market confidence in Gilead, driving the stock price up. 2. On June 23, Gilead submitted a supplemental application to the U.S. Food and Drug Administration seeking Trodelvy for first-line treatment in adults with unresectable locally advanced or metastatic TNBC. This move further solidifies Trodelvy's position in the treatment field and enhances investor optimism On June 23, Gilead's stock price rose by 0.90% in pre-market trading on Nasdaq, reflecting the market's positive response to its new drug application. The biopharmaceutical industry has performed strongly recently, with significant capital inflows. **Stocks Ranked Among the Top by Market Capitalization in the Industry** Amgen rose by 0.83%. Based on recent news, 1. On June 23, Amgen reported a 6% year-on-year increase in first-quarter revenue, reaching $8.6 billion. Despite losing patent protection for its bone health drug denosumab, other products like Tezspire and Tepezza performed well, driving the stock price up. Source: Public Technologies 2. On June 22, analysts maintained a hold rating on Amgen but believed that five other stocks offered better investment value. This rating may exert some pressure on the stock price. Source: Public Technologies 3. On June 23, Amgen was considered the preferred choice for long-term income investors due to its dividend yield of 3%, significantly higher than the S&P 500 average. This news bolstered market confidence in its long-term investment value. Source: Public Technologies The biopharmaceutical industry has performed strongly recently, with significant capital inflows ### Related Stocks - [CUE.US](https://longbridge.com/en/quote/CUE.US.md) - [APGE.US](https://longbridge.com/en/quote/APGE.US.md) - [ABBV.US](https://longbridge.com/en/quote/ABBV.US.md) - [GILD.US](https://longbridge.com/en/quote/GILD.US.md) - [AMGN.US](https://longbridge.com/en/quote/AMGN.US.md) ## Related News & Research - [Here's how many shares of Coca-Cola you'd need for $30,000 in yearly dividends (spoiler: it's a lot)](https://longbridge.com/en/news/295321099.md) - [Uh-oh! The inflationary effects of the Donald Trump-led Iran war now extend well beyond the energy sector](https://longbridge.com/en/news/295328403.md) - [America’s labor market shows new weakness as healthcare vacancies drop](https://longbridge.com/en/news/295281065.md) - [Rhode is fueling e.l.f.'s latest surge. 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