Amgen Slides as Tavneos Regulatory Pressure Weighs on Sentiment

Amgen (AMGN) is down 6.8% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely driver is renewed concern around Tavneos after the U.K. regulator suspended the drug for new patients and set a path toward revoking its authorization in March 2027. That setback adds to an existing U.S. overhang, where the FDA has already proposed withdrawing the drug, giving investors another reason to reassess regulatory risk even though Tavneos is still a relatively small part of Amgen’s total revenue.

Details:

The U.K. medicines regulator said the evidence no longer supports a positive benefit-risk balance for avacopan, the medicine previously marketed as Tavneos, and suspended use, supply, and sale for new patients starting September 1, 2026.

The U.K. review said the pivotal study supporting approval could no longer be relied upon to demonstrate efficacy, which raises concern that additional markets could take a tougher stance.

In the U.S., the FDA proposed in April 2026 to withdraw approval of Tavneos, citing questions about effectiveness, alleged untrue statements of material fact in the original application, and post-marketing liver safety issues.

Amgen’s latest quarterly materials show the company is still defending Tavneos and engaging regulators, but the dispute now looks more serious after the fresh U.K. action. This could be because investors see a growing risk that a once-growing rare-disease asset loses value across multiple regions.

Sources:

GOV.UK, FDA, Amgen

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$AMGN Insider Trading Activity

$AMGN insiders have traded $AMGN stock on the open market 7 times in the past 6 months. Of those trades, 0 have been purchases and 7 have been sales.

Here’s a breakdown of recent trading of $AMGN stock by insiders over the last 6 months:

NANCY A. GRYGIEL (SVP & CCO) has made 0 purchases and 3 sales selling 4,207 shares for an estimated $1,594,866.
DEREK MILLER (SVP, Human Resources) has made 0 purchases and 2 sales selling 3,890 shares for an estimated $1,565,897.
RACHNA KHOSLA (SVP, Business Development) has made 0 purchases and 2 sales selling 3,252 shares for an estimated $1,346,498.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$AMGN Hedge Fund Activity

We have seen 1,423 institutional investors add shares of $AMGN stock to their portfolio, and 1,478 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 15,034,038 shares (+inf%) to their portfolio in Q2 2026, for an estimated $5,444,125,840
INVESCO LTD. added 11,748,721 shares (+257.0%) to their portfolio in Q2 2026, for an estimated $4,254,446,848
CAPITAL INTERNATIONAL INVESTORS removed 5,453,497 shares (-76.6%) from their portfolio in Q2 2026, for an estimated $1,974,820,333
JPMORGAN CHASE & CO added 3,588,484 shares (+inf%) to their portfolio in Q2 2026, for an estimated $1,299,461,826
WELLINGTON MANAGEMENT GROUP LLP added 2,514,254 shares (+1102.7%) to their portfolio in Q2 2026, for an estimated $910,461,658
BLACKROCK, INC. added 2,261,544 shares (+4.8%) to their portfolio in Q2 2026, for an estimated $818,950,313
CHARLES SCHWAB INVESTMENT MANAGEMENT INC added 2,260,652 shares (+17.7%) to their portfolio in Q2 2026, for an estimated $818,627,302

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$AMGN Congressional Stock Trading

Members of Congress have traded $AMGN stock 5 times in the past 6 months. Of those trades, 2 have been purchases and 3 have been sales.

Here’s a breakdown of recent trading of $AMGN stock by members of Congress over the last 6 months:

SENATOR SHELDON WHITEHOUSE sold up to $15,000 on 08/12.
REPRESENTATIVE DAVID TAYLOR purchased up to $15,000 on 06/05.
REPRESENTATIVE MARIA ELVIRA SALAZAR has traded it 2 times. They made 1 purchase worth up to $50,000 on 03/24 and 1 sale worth up to $50,000 on 04/17.
SENATOR ALAN ARMSTRONG sold up to $50,000 on 03/27.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API Congress trades endpoint.

$AMGN Price Targets

Multiple analysts have issued price targets for $AMGN recently. We have seen 9 analysts offer price targets for $AMGN in the last 6 months, with a median target of $350.0.

Here are some recent targets:

Terence Flynn from Morgan Stanley set a target price of $333.0 on 07/08/2026
Gregory Renza from Truist Securities set a target price of $340.0 on 07/07/2026
Carter Gould from Cantor Fitzgerald set a target price of $350.0 on 07/06/2026
Salim Syed from Mizuho set a target price of $303.0 on 06/16/2026
David Amsellem from Piper Sandler set a target price of $427.0 on 05/14/2026
Vamil Divan from Guggenheim set a target price of $340.0 on 05/04/2026
Gary Nachman from Canaccord Genuity set a target price of $366.0 on 04/21/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.