Amgen Slides as Tavneos Scrutiny and Pipeline Questions Weigh on Shares

Amgen Inc. (AMGN) is down 3.2% today. Here is some analysis on what might have caused this price movement.

Analysis: The drop appears tied mainly to ongoing concerns around Tavneos after regulators moved to challenge the drug’s approval and a key study supporting it was retracted late last month. With no major new upbeat company announcement to offset that overhang, investors also may be reassessing pipeline expectations and competitive pressure in obesity.

Details:

The FDA has proposed withdrawing Tavneos from the U.S. market after identifying serious liver injury cases and raising concerns about the data package behind the drug’s approval.

Amgen has said it plans to contest that process and has defended Tavneos’ benefit-risk profile while submitting additional analyses and real-world evidence.

A major medical journal retracted the pivotal Tavneos trial paper in late June, increasing uncertainty around the product’s future and potential sales contribution.

Separate pressure may be coming from the obesity market, where investors remain focused on how Amgen’s MariTide program will compete on tolerability and positioning against fast-moving rivals.

Sources:

FDA, Amgen, Bloomberg Law

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 4 times in the past 6 months. Of those trades, 0 have been purchases and 4 have been sales.

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

ESTEBAN SANTOS (EVP, Operations) has made 0 purchases and 2 sales selling 54,792 shares for an estimated $20,772,595.
NANCY A. GRYGIEL (SVP & CCO) sold 1,237 shares for an estimated $400,450
MATTHEW C. BUSCH (VP, Finance & CAO) sold 1,000 shares for an estimated $375,790

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.

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$AMGN Hedge Fund Activity

We have seen 1,258 institutional investors add shares of $AMGN stock to their portfolio, and 1,261 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

CAPITAL INTERNATIONAL INVESTORS removed 11,063,995 shares (-60.8%) from their portfolio in Q1 2026, for an estimated $3,892,866,640
CAPITAL WORLD INVESTORS added 6,190,632 shares (+26.8%) to their portfolio in Q1 2026, for an estimated $2,178,173,869
CAPITAL RESEARCH GLOBAL INVESTORS added 2,307,190 shares (+49.6%) to their portfolio in Q1 2026, for an estimated $811,784,801
ROCKEFELLER CAPITAL MANAGEMENT L.P. removed 1,645,235 shares (-71.9%) from their portfolio in Q1 2026, for an estimated $578,875,934
GEODE CAPITAL MANAGEMENT, LLC added 1,127,230 shares (+7.9%) to their portfolio in Q1 2026, for an estimated $396,615,875
CHARLES SCHWAB INVESTMENT MANAGEMENT INC added 962,341 shares (+8.1%) to their portfolio in Q1 2026, for an estimated $338,599,680
UBS GROUP AG removed 956,484 shares (-23.3%) from their portfolio in Q1 2026, for an estimated $336,538,895

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 6 times in the past 6 months. Of those trades, 3 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:

REPRESENTATIVE DAVID TAYLOR has traded it 4 times. They made 2 purchases worth up to $30,000 on 06/05, 01/16 and 2 sales worth up to $30,000 on 02/26, 01/29.
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.

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 15 analysts offer price targets for $AMGN in the last 6 months, with a median target of $350.0.

Here are some recent targets:

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
Terence Flynn from Morgan Stanley set a target price of $340.0 on 06/10/2026
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
Gregory Renza from Truist Securities set a target price of $327.0 on 05/01/2026
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.