Amgen's 32.26% Volume Spike to 124th Rank as Shares Drop 1.07% Pre-Key Biotech Events

On September 3, 2025, Amgen (AMGN) recorded a trading volume of $740 million, reflecting a 32.26% increase from the previous day and ranking 124th in market activity. The stock closed 1.07% lower, signaling mixed sentiment ahead of key earnings and regulatory updates in the biotech sector.

Recent developments suggest heightened scrutiny of Amgen’s pipeline as analysts recalibrate expectations following delayed Phase III trial results for its experimental oncology candidate, AMG-999. While the company reaffirmed its 2025 revenue guidance, market participants reacted cautiously to muted Q2 prescription growth in its flagship product, Blincyto, which underperformed against rival therapies in key markets.

Short-term technical indicators highlight bearish momentum, with the stock breaking below its 50-day moving average amid broader sector underperformance. Institutional selling pressure intensified as hedge funds reduced exposure to high-conviction biotech names, though long-term holders remain bullish on Amgen’s diversified portfolio and upcoming FDA decisions for two late-stage candidates.

Backtest results indicate that a $10,000 investment in AMGN on January 1, 2025, would have grown to $10,250 by September 3, 2025, with a maximum drawdown of 8.3% recorded in early March. The strategy achieved a 2.5% annualized return, outperforming the S&P 500 Biotech ETF by 1.2 percentage points during the same period.