ADPT Adaptive Biotechnologies Corporation - Common Stock
$24.88
Price · Aug 18, 2026
Fundamentals as of Aug 4, 2026
52W Range
$12–$26
91% of range
Analyst Rating
BUY
14 analysts
Price Target
$25
+1% upside
P/E (TTM)
-63.8
ROE
-28.2%
Net Profit Margin
-21.5%
About Adaptive Biotechnologies Corporation - Common Stock Company overview from Wikipedia
ADPT Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$24.88
Market Cap
$3.83B
P/E (TTM)
-63.8
EPS (TTM)
$-0.39
Revenue (TTM)
$277M
Div Yield
—
ROE
-28.2%
Debt/Equity
0.6
52W Range
$12 – $26
ADPT Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$277M
2017-12-31
→
2025-12-31
EPS
$-0.39
2020-12-31
→
2025-12-31
Free Cash Flow
$-49M
2019-12-31
→
2025-12-31
Margins
-21.5%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
ADPT
Peer Median
P/E (TTM)
-63.8
91.9
P/S (TTM)
13.8
4.4
P/B
17.5
3.0
EV / EBITDA
-68.0
—
Price / FCF
-78.2
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
ADPT
Peer Median
Operating Margin
-20.6%
—
Net Profit Margin
-21.5%
-16.7%
ROA
-11.3%
-7.4%
ROE
-28.2%
-15.5%
ROIC
-16.3%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
ADPT
Peer Median
Debt / Equity
0.6
0.1
Current Ratio
3.3
3.2
Quick Ratio
1.3
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
ADPT
Peer Median
Revenue YoY
54.8%
—
Revenue CAGR 3Y
14.3%
—
Revenue CAGR 5Y
23.0%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
ADPT
Peer Median
ADPT Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
14 analysts
- Strong Buy 5 35.7%
- Buy 7 50.0%
- Hold 2 14.3%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
7 analysts · 2026-08-19
Median
$25.00
Now
$24.88
Low
$21.00
High
$28.00
Median target
$25.00
+0.5%
Mean target
$25.07
+0.8%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.09%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.10 | $-0.14 | 0.04% |
| March 31, 2026 | $-0.12 | $-0.16 | 0.04% |
| Dec. 31, 2025 | $-0.09 | $-0.18 | 0.09% |
| Sept. 30, 2025 | $0.06 | $-0.15 | 0.21% |
| June 30, 2025 | $-0.17 | $-0.24 | 0.07% |
| March 31, 2025 | $-0.20 | $-0.30 | 0.10% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| ADPT | $2.50B | -41.6 | 54.8% | -21.5% | -28.2% | — |
| TEM | — | -41.9 | 83.4% | -19.3% | -61.2% | — |
| AVTR | $7.82B | -14.7 | -3.4% | -8.1% | -8.9% | 32.6% |
| BRKR | $7.17B | -314.1 | 2.1% | -0.25% | -0.40% | 45.9% |
| TXG | $2.08B | -46.6 | 5.2% | -6.8% | -5.5% | 69.0% |
| SHC | $5.02B | 65.3 | 5.7% | 6.7% | 14.0% | 55.5% |
| ALMR | — | — | — | — | — | — |
| BLFS | — | -241.8 | 28.9% | — | — | — |
| FTRE | $1.61B | -1.6 | 1.0% | -36.2% | -171.1% | — |
| PSNL | $816M | -8.7 | -17.7% | -116.7% | -36.0% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $277M | $179M | $170M | $185M | $154M | $98M | $85M | $56M | |
| Cost of Revenue | $71M | $72M | $76M | $58M | $49M | $23M | $22M | $20M | |
| R&D Expense | $94M | $103M | $122M | $142M | $142M | $116M | $71M | $39M | |
| SG&A Expense | $73M | $73M | $84M | $89M | $75M | $50M | $30M | $20M | |
| Operating Expenses | $334M | $342M | $397M | $385M | $363M | $251M | $163M | $105M | |
| Operating Income | $-57M | $-163M | $-227M | $-200M | $-209M | $-153M | $-78M | $-50M | |
| Interest Expense | $12M | $12M | $14M | $4M | · | · | · | · | |
| Pretax Income | $-59M | $-160M | $-225M | $-200M | $-207M | $-146M | $-69M | · | |
| Income Tax | $0 | $0 | $0 | · | · | · | $0 | · | |
| Net Income | $-59M | $-159M | $-225M | $-200M | $-207M | $-146M | $-69M | $-46M | |
| EPS (Basic) | $-0.39 | $-1.08 | $-1.56 | $-1.40 | $-1.48 | $-1.11 | · | · | |
| EPS (Diluted) | $-0.39 | $-1.08 | $-1.56 | $-1.40 | $-1.48 | $-1.11 | · | · | |
| Shares (Basic) | 151,721,939 | 147,101,648 | 144,383,294 | 142,515,917 | 140,354,915 | 131,216,468 | · | · | |
| Shares (Diluted) | 151,721,939 | 147,101,648 | 144,383,294 | 142,515,917 | 140,354,915 | 131,216,468 | · | · | |
| EBITDA | $-57M | $-163M | $-227M | $-200M | $-209M | $-153M | $-78M | · |
Balance Sheet 27
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $70M | $48M | $65M | $90M | $139M | $123M | $97M | $55M | |
| Receivables | $50M | $42M | $38M | $40M | $17M | $10M | $13M | $5M | |
| Inventory | $10M | $8M | $14M | $14M | $19M | $14M | $9M | $8M | |
| Prepaid Expense | $13M | $11M | $11M | $9M | $13M | $15M | $14M | $3M | |
| Current Assets | $300M | $284M | $410M | $562M | $403M | $727M | $613M | $181M | |
| PP&E (Net) | $34M | $49M | $68M | $83M | $85M | $40M | $60M | $19M | |
| PP&E (Gross) | $130M | $136M | $141M | $138M | $121M | $64M | $78M | $32M | |
| Accum. Depreciation | $96M | $88M | $73M | $54M | $36M | $24M | $18M | $12M | |
| Goodwill | $119M | $119M | $119M | $119M | $119M | $119M | $119M | $119M | |
| Intangibles | $2M | $3M | $5M | $7M | $9M | $10M | $12M | $14M | |
| Other Non-current Assets | $1M | $2M | $4M | $2M | $875.0K | $598.0K | $784.0K | $186.0K | |
| Total Assets | $513M | $539M | $661M | $857M | $923M | $1.12B | $912M | $333M | |
| Accounts Payable | $6M | $7M | $8M | $8M | $3M | $3M | $4M | $2M | |
| Accrued Liabilities | $8M | $8M | $9M | $12M | $9M | $13M | $4M | $3M | |
| Current Liabilities | $90M | $98M | $88M | $110M | $114M | $105M | $78M | $23M | |
| Capital Leases | $70M | $79M | $89M | $99M | $107M | $104M | · | · | |
| Other Non-current Liabilities | $20.0K | $20.0K | · | · | · | · | $93.0K | · | |
| Total Liabilities | $288M | $337M | $353M | $393M | $319M | $373M | $341M | $30M | |
| Long-term Debt | $131M | $133M | · | · | · | · | · | · | |
| Total Debt | $131M | $133M | $131M | · | · | · | · | · | |
| Common Stock | $15.0K | $14.0K | $14.0K | $14.0K | $14.0K | $14.0K | $12.0K | $1.0K | |
| Paid-in Capital | $1.58B | $1.51B | $1.45B | $1.39B | $1.32B | $1.25B | $936M | $38M | |
| Retained Earnings | $-1.36B | $-1.30B | $-1.14B | $-919M | $-719M | $-512M | $-365M | $-296M | |
| AOCI | $253.0K | $166.0K | $215.0K | $-4M | $-1M | $893.0K | $671.0K | $-107.0K | |
| Stockholders' Equity | $219M | $203M | $308M | $464M | $604M | $743M | $571M | $-258M | |
| Liabilities + Equity | $513M | $539M | $661M | $857M | $923M | $1.12B | $912M | $333M | |
| Shares Outstanding | 153,779,418 | 147,773,744 | 145,082,271 | 143,105,002 | 141,393,865 | 137,646,896 | 125,238,142 | 12,841,536 |
Cash Flow 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| D&A | $16M | $17M | $20M | $21M | · | · | · | · | |
| Stock-based Comp | $51M | $54M | $63M | $55M | $43M | $25M | $13M | $11M | |
| Amort. of Intangibles | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | |
| Restructuring | · | $2M | · | $2M | · | · | · | · | |
| Operating Cash Flow | $-46M | $-95M | $-156M | $-184M | $-193M | $-150M | $205M | $-32M | |
| CapEx | $3M | $4M | $11M | $16M | $62M | $19M | $11M | $6M | |
| Investing Cash Flow | $38M | $78M | $130M | $3M | $181M | $-117M | $-482M | $736.0K | |
| Stock Issued | · | · | · | · | · | $272M | $321M | · | |
| Net Stock Activity | · | · | · | · | · | $272M | · | · | |
| Financing Cash Flow | $30M | $241.0K | $2M | $132M | $27M | $294M | $320M | $1M | |
| Net Change in Cash | $22M | $-17M | $-24M | $-49M | $16M | $27M | $44M | $-30M | |
| Free Cash Flow | $-49M | $-99M | $-167M | $-200M | $-254M | $-168M | $194M | · | |
| Levered FCF | $-61M | · | · | · | · | · | · | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -20.6% | -90.8% | -133.3% | -108.0% | -135.4% | -155.3% | -92.2% | · | |
| Net Margin | -21.5% | -89.1% | -132.3% | -108.0% | -134.3% | -148.6% | -80.7% | · | |
| Pretax Margin | -21.5% | -89.2% | -132.3% | -108.1% | -134.3% | · | · | · | |
| EBITDA Margin | -20.6% | -90.8% | -133.3% | -108.0% | -135.4% | -155.3% | -92.2% | · | |
| ROA | -11.3% | -26.6% | -29.7% | -22.5% | -20.3% | -14.4% | -11.0% | · | |
| ROE | -28.2% | -62.4% | -58.3% | -37.5% | -30.8% | -23.0% | -11.9% | · | |
| ROIC | -16.3% | · | · | · | · | · | · | · |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.3 | 2.9 | 4.7 | 5.1 | 3.5 | 6.9 | 7.8 | · | |
| Quick Ratio | 1.3 | 0.9 | 1.2 | 1.2 | 1.4 | 1.3 | 1.4 | · | |
| Debt / Equity | 0.6 | 0.7 | 0.4 | · | · | · | · | · | |
| LT Debt / Equity | 0.6 | 0.7 | 0.4 | · | · | · | · | · | |
| Interest Coverage | -4.8 | -14.0 | -16.5 | -47.2 | · | · | · | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.5 | 0.3 | 0.2 | 0.2 | 0.2 | 0.1 | 0.1 | · | |
| Inventory Turnover | 7.8 | 6.3 | 5.2 | 3.4 | 3.0 | 1.9 | 2.6 | · | |
| Receivables Turnover | 6.0 | 4.5 | 4.4 | 6.4 | 11.2 | 8.7 | 9.7 | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 54.8% | 5.1% | -8.1% | 20.1% | 56.9% | · | · | · | |
| Revenue CAGR 3Y | 14.3% | 5.1% | 20.1% | · | · | · | · | · | |
| Revenue CAGR 5Y | 23.0% | · | · | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $277M | $179M | $170M | $185M | $154M | $98M | $85M | · | |
| Net Income TTM | $-59M | $-159M | $-225M | $-200M | $-207M | $-146M | $-69M | · | |
| Market Cap | $2.50B | $886M | $711M | $1.09B | $3.97B | $8.14B | $3.75B | · | |
| Enterprise Value | $2.56B | $971M | $776M | · | · | · | · | · | |
| P/E | -41.6 | -5.6 | -3.1 | -5.5 | -19.0 | -53.3 | · | · | |
| P/S | 9.0 | 5.0 | 4.2 | 5.9 | 25.7 | 82.7 | 44.0 | · | |
| P/B | 11.4 | 4.4 | 2.3 | 2.4 | 6.6 | 11.0 | 6.6 | · | |
| P / Tangible Book | 25.5 | 11.0 | 3.9 | 3.2 | 8.3 | 13.3 | · | · | |
| P / Cash Flow | -54.3 | -9.3 | -4.5 | -5.9 | -20.6 | -54.4 | 18.2 | · | |
| P / FCF | -51.0 | -9.0 | -4.3 | -5.5 | -15.6 | -48.3 | 19.3 | · | |
| EV / EBITDA | -44.8 | -6.0 | -3.4 | · | · | · | · | · | |
| EV / FCF | -52.3 | -9.8 | -4.6 | · | · | · | · | · | |
| EV / Revenue | 9.2 | 5.4 | 4.6 | · | · | · | · | · | |
| Earnings Yield | -2.4% | -18.0% | -31.8% | -18.3% | -5.3% | -1.9% | · | · |
Income Statement 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $72M | $71M | $72M | $94M | $59M | $52M | $47M | $46M | $43M | $42M | $46M | $38M | $49M | $38M | $55M | $48M | |
| Cost of Revenue | $20M | $19M | $18M | $18M | $18M | $17M | $18M | $17M | $19M | $18M | $20M | $19M | $18M | $19M | $17M | $15M | |
| R&D Expense | $19M | $24M | $22M | $24M | $24M | $24M | $23M | $24M | $25M | $30M | $29M | $29M | $32M | $33M | $31M | $36M | |
| SG&A Expense | $21M | $21M | $20M | $18M | $18M | $17M | $18M | $17M | $18M | $20M | $21M | $20M | $22M | $21M | $22M | $21M | |
| Operating Expenses | $87M | $90M | $84M | $84M | $84M | $82M | $81M | $79M | $91M | $91M | $117M | $89M | $97M | $95M | $94M | $93M | |
| Operating Income | $-16M | $-19M | $-13M | $10M | $-25M | $-30M | $-34M | $-33M | $-47M | $-49M | $-71M | $-51M | $-48M | $-57M | $-39M | $-45M | |
| Interest Expense | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $4M | $4M | $4M | $4M | $653.0K | |
| Net Income | $-40M | $-20M | $-14M | $10M | $-26M | $-30M | $-34M | $-32M | $-46M | $-48M | $-69M | $-50M | $-48M | $-58M | $-40M | $-45M | |
| EPS (Basic) | $-0.25 | $-0.13 | $-0.08 | $0.06 | $-0.17 | $-0.20 | $-0.22 | $-0.22 | $-0.31 | $-0.33 | $-0.48 | $-0.35 | $-0.33 | $-0.40 | $-0.27 | $-0.32 | |
| EPS (Diluted) | $-0.25 | $-0.13 | $-0.08 | $0.06 | $-0.17 | $-0.20 | $-0.22 | $-0.22 | $-0.31 | $-0.33 | $-0.48 | $-0.35 | $-0.33 | $-0.40 | $-0.27 | $-0.32 | |
| Shares (Basic) | 159,855,257 | 155,521,048 | -301,987,680 | 152,432,307 | 152,082,284 | 149,195,028 | -293,616,372 | 147,516,398 | 147,414,095 | 145,787,527 | -288,230,409 | 144,704,868 | 144,397,693 | 143,511,142 | -284,473,578 | 142,928,654 | |
| Shares (Diluted) | 159,855,257 | 155,521,048 | -312,717,480 | 163,162,107 | 152,082,284 | 149,195,028 | -293,616,372 | 147,516,398 | 147,414,095 | 145,787,527 | -288,230,409 | 144,704,868 | 144,397,693 | 143,511,142 | -284,473,578 | 142,928,654 | |
| EBITDA | $-16M | $-19M | · | $10M | $-25M | $-30M | · | $-33M | $-47M | $-49M | · | $-51M | $-48M | $-57M | · | $-45M |
Balance Sheet 27
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $170M | $78M | $70M | $55M | $43M | $51M | $48M | $38M | $60M | $71M | · | $89M | $109M | $95M | · | $218M | |
| Receivables | $50M | $48M | $50M | $45M | $44M | $44M | $42M | $41M | $36M | $42M | · | $31M | $32M | $31M | · | $27M | |
| Inventory | $10M | $11M | $10M | $10M | $8M | $9M | $8M | $12M | $13M | $13M | · | $19M | $19M | $20M | · | $17M | |
| Prepaid Expense | $16M | $14M | $13M | $14M | $11M | $11M | $11M | $12M | $11M | $10M | · | $13M | $9M | $10M | · | $12M | |
| Current Assets | $421M | $292M | $300M | $281M | $262M | $256M | $284M | $308M | $352M | $374M | · | $435M | $477M | $501M | · | $564M | |
| PP&E (Net) | $29M | $31M | $34M | $37M | $41M | $44M | $49M | $51M | $55M | $65M | · | $77M | $79M | $81M | · | $87M | |
| PP&E (Gross) | · | · | $130M | · | · | · | $136M | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $96M | · | · | · | $88M | · | · | · | · | · | · | · | · | · | |
| Goodwill | $119M | $119M | $119M | $119M | $119M | $119M | $119M | $119M | $119M | $119M | · | $119M | $119M | $119M | · | $119M | |
| Intangibles | $884.0K | $1M | $2M | $2M | $3M | $3M | $3M | $4M | $4M | $5M | · | $6M | $6M | $6M | · | $7M | |
| Other Non-current Assets | $1M | $1M | $1M | $2M | $2M | $2M | $2M | $3M | $3M | $3M | · | $3M | $3M | $2M | · | $2M | |
| Total Assets | $641M | $506M | $513M | $491M | $497M | $511M | $539M | $559M | $585M | $620M | · | $718M | $765M | $791M | · | $884M | |
| Accounts Payable | $5M | $10M | $6M | $10M | $7M | $6M | $7M | $7M | $10M | $12M | · | $4M | $9M | $6M | · | $4M | |
| Accrued Liabilities | $11M | $7M | $8M | $7M | $7M | $8M | $8M | $6M | $7M | $8M | · | $10M | $8M | $8M | · | $11M | |
| Current Liabilities | $88M | $87M | $90M | $83M | $92M | $88M | $98M | $88M | $88M | $83M | · | $93M | $95M | $90M | · | $104M | |
| Capital Leases | $67M | $69M | $70M | $72M | $74M | $76M | $79M | $82M | $84M | $87M | · | $92M | $94M | $96M | · | $101M | |
| Other Non-current Liabilities | $20.0K | $20.0K | $20.0K | $20.0K | $20.0K | $20.0K | $20.0K | $20.0K | $20.0K | · | · | · | · | · | · | · | |
| Total Liabilities | $490M | $282M | $288M | $286M | $317M | $321M | $337M | $335M | $343M | $346M | · | $356M | $369M | $368M | · | $396M | |
| Long-term Debt | $0 | $131M | $131M | $132M | $134M | $134M | $133M | · | · | · | · | $130M | · | · | · | · | |
| Total Debt | $0 | $131M | · | $132M | $134M | $134M | · | $133M | $132M | $132M | · | $130M | · | · | · | · | |
| Common Stock | $16.0K | $16.0K | $15.0K | $15.0K | $15.0K | $15.0K | $14.0K | $14.0K | $14.0K | $14.0K | · | $14.0K | $14.0K | $14.0K | · | $14.0K | |
| Paid-in Capital | $1.57B | $1.60B | $1.58B | $1.55B | $1.54B | $1.52B | $1.51B | $1.49B | $1.48B | $1.47B | · | $1.44B | $1.42B | $1.40B | · | $1.37B | |
| Retained Earnings | $-1.42B | $-1.38B | $-1.36B | $-1.35B | $-1.36B | $-1.33B | $-1.30B | $-1.27B | $-1.24B | $-1.19B | · | $-1.07B | $-1.02B | $-977M | · | $-879M | |
| AOCI | $-212.0K | $-28.0K | $253.0K | $211.0K | $73.0K | $134.0K | $166.0K | $497.0K | $-182.0K | $-106.0K | · | $-250.0K | $-893.0K | $-2M | · | $-6M | |
| Stockholders' Equity | $143M | $216M | $219M | $204M | $180M | $190M | $203M | $224M | $242M | $275M | · | $362M | $396M | $424M | · | $488M | |
| Liabilities + Equity | $641M | $506M | $513M | $491M | $497M | $511M | $539M | $559M | $585M | $620M | · | $718M | $765M | $791M | · | $884M | |
| Shares Outstanding | 159,059,622 | 159,697,221 | 153,779,418 | 152,581,042 | 152,234,772 | 151,916,722 | 147,773,744 | 147,561,586 | 147,462,201 | 147,368,324 | · | 144,772,751 | 144,645,118 | 144,279,969 | · | 142,987,127 |
Cash Flow 10
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | $3M | $3M | $4M | $4M | $4M | $4M | $4M | $5M | $5M | $3M | $6M | $6M | $5M | · | · | |
| Stock-based Comp | $11M | $12M | $13M | $13M | $13M | $12M | $13M | $14M | $13M | $14M | $16M | $15M | $17M | $15M | $14M | $14M | |
| Amort. of Intangibles | $423.0K | $419.0K | $429.0K | $428.0K | $423.0K | $419.0K | $428.0K | $428.0K | $424.0K | $423.0K | $429.0K | $428.0K | $423.0K | $419.0K | $429.0K | $428.0K | |
| Restructuring | · | $643.0K | · | · | · | $0 | $87.0K | $193.0K | $680.0K | $1M | · | · | · | · | · | · | |
| Operating Cash Flow | $-6M | $-10M | $2M | $-7M | $-12M | $-28M | $-12M | $-27M | $-17M | $-38M | $-27M | $-47M | $-24M | $-59M | $-30M | $-42M | |
| CapEx | $1M | $796.0K | $636.0K | $409.0K | $655.0K | $1M | $80.0K | $344.0K | $2M | $2M | $1M | $3M | $4M | $3M | $3M | $5M | |
| Investing Cash Flow | $-43M | $9M | $-8M | $17M | $3M | $26M | $22M | $5M | $6M | $45M | $3M | $26M | $37M | $63M | $-98M | $58M | |
| Financing Cash Flow | $142M | $8M | $22M | $2M | $2M | $5M | $127.0K | $40.0K | $30.0K | $44.0K | $87.0K | $17.0K | $1M | $672.0K | $6.0K | $126M | |
| Net Change in Cash | $92M | $7M | $15M | $12M | $-7M | $3M | $10M | $-22M | $-11M | $6M | $-24M | $-21M | $15M | $4M | $-128M | $141M | |
| Free Cash Flow | · | $-10M | · | · | · | $-30M | · | · | · | $-40M | · | · | · | $-62M | · | · |
Profitability 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -22.0% | -27.1% | · | 10.9% | -42.5% | -56.5% | · | -70.3% | -109.6% | -116.5% | · | -134.4% | -97.7% | -151.9% | · | -95.0% | |
| Net Margin | -55.6% | -28.3% | · | 10.2% | -43.5% | -56.9% | · | -69.1% | -107.0% | -113.5% | · | -132.7% | -97.7% | -153.3% | · | -94.7% | |
| EBITDA Margin | -22.0% | -27.1% | · | 10.9% | -42.5% | -56.5% | · | -70.3% | -109.6% | -116.5% | · | -134.4% | -97.7% | -151.9% | · | -95.0% | |
| ROA | -7.0% | -3.9% | · | 1.8% | -4.7% | -5.3% | · | -5.0% | -6.9% | -6.7% | · | -6.3% | -6.1% | -7.0% | · | -4.8% | |
| ROE | -24.7% | -9.8% | · | 4.5% | -12.2% | -12.8% | · | -10.9% | -14.5% | -13.6% | · | -11.8% | -10.5% | -11.8% | · | -8.0% |
Liquidity & Solvency 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.8 | 3.4 | · | 3.4 | 2.8 | 2.9 | · | 3.5 | 4.0 | 4.5 | · | 4.7 | 5.0 | 5.6 | · | 5.4 | |
| Quick Ratio | 2.5 | 1.4 | · | 1.2 | 0.9 | 1.1 | · | 0.9 | 1.1 | 1.4 | · | 1.3 | 1.5 | 1.4 | · | 2.3 | |
| Debt / Equity | 0.0 | 0.6 | · | 0.6 | 0.7 | 0.7 | · | 0.6 | 0.5 | 0.5 | · | 0.4 | · | · | · | · | |
| LT Debt / Equity | 0.0 | 0.6 | · | 0.6 | 0.7 | 0.7 | · | 0.6 | 0.5 | 0.5 | · | 0.4 | · | · | · | · | |
| Interest Coverage | -5.9 | -6.6 | · | 3.5 | -8.5 | -10.2 | · | -11.1 | -17.6 | -16.3 | · | -14.0 | -13.3 | -16.2 | · | -69.6 |
Efficiency 3
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.2 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.0 | 0.1 | 0.0 | · | 0.1 | |
| Inventory Turnover | 2.1 | 1.9 | · | 1.7 | 1.7 | 1.5 | · | 1.1 | 1.2 | 1.1 | · | 1.1 | 0.9 | 0.9 | · | 0.8 | |
| Receivables Turnover | 1.5 | 1.5 | · | 2.2 | 1.5 | 1.2 | · | 1.3 | 1.3 | 1.1 | · | 1.3 | 1.8 | 1.4 | · | 2.2 |
Valuation (TTM) 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $295M | $276M | · | $252M | $201M | $184M | · | $169M | $172M | $166M | · | $172M | $178M | $168M | · | $170M | |
| Net Income TTM | $-76M | $-66M | · | $-78M | $-134M | $-156M | · | $-176M | $-192M | $-203M | · | $-201M | $-203M | $-218M | · | $-216M | |
| Market Cap | $3.41B | $2.22B | · | $2.28B | $1.77B | $1.13B | · | $756M | $534M | $473M | · | $789M | $971M | $1.27B | · | $1.02B | |
| Enterprise Value | $3.24B | $2.27B | · | $2.36B | $1.86B | $1.21B | · | $850M | $606M | $533M | · | $830M | · | · | · | · | |
| P/E | -43.8 | -31.5 | · | -28.2 | -12.9 | -7.0 | · | -4.2 | -2.7 | -2.3 | · | -3.9 | -4.7 | -5.8 | · | -4.7 | |
| P/S | 11.6 | 8.0 | · | 9.1 | 8.8 | 6.1 | · | 4.5 | 3.1 | 2.8 | · | 4.6 | 5.5 | 7.6 | · | 6.0 | |
| P/B | 23.9 | 10.2 | · | 11.2 | 9.9 | 5.9 | · | 3.4 | 2.2 | 1.7 | · | 2.2 | 2.5 | 3.0 | · | 2.1 | |
| P / Tangible Book | 148.0 | 23.1 | · | 27.4 | 30.5 | 16.5 | · | 7.5 | 4.5 | 3.1 | · | 3.3 | 3.6 | 4.3 | · | 2.8 | |
| P / Cash Flow | · | -232.4 | · | · | · | -39.6 | · | · | · | -12.3 | · | · | · | -21.5 | · | · | |
| P / FCF | · | -214.5 | · | · | · | -37.9 | · | · | · | -11.9 | · | · | · | -20.5 | · | · | |
| EV / EBITDA | -205.6 | -118.2 | · | 229.3 | -74.5 | -40.9 | · | -26.1 | -12.8 | -10.9 | · | -16.3 | · | · | · | · | |
| EV / FCF | · | -219.6 | · | · | · | -40.7 | · | · | · | -13.4 | · | · | · | · | · | · | |
| EV / Revenue | 11.0 | 8.2 | · | 9.4 | 9.3 | 6.6 | · | 5.0 | 3.5 | 3.2 | · | 4.8 | · | · | · | · | |
| Earnings Yield | -2.3% | -3.2% | · | -3.5% | -7.7% | -14.3% | · | -23.6% | -36.5% | -43.9% | · | -25.7% | -21.2% | -17.3% | · | -21.5% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $277M | $179M | $170M | $185M | $154M |
| Operating Margin % | -20.6% | -90.8% | -133.3% | -108.0% | -135.4% |
| Net Income | $-59M | $-159M | $-225M | $-200M | $-207M |
| Diluted EPS | $-0.39 | $-1.08 | $-1.56 | $-1.40 | $-1.48 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.6 | 0.7 | 0.4 | — | — |
| Current Ratio | 3.3 | 2.9 | 4.7 | 5.1 | 3.5 |
| Quick Ratio | 1.3 | 0.9 | 1.2 | 1.2 | 1.4 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-49M | $-99M | $-167M | $-200M | $-254M |
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Institutional owners (13F) 316 filers · $2.4B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 55 (+6 vs prior Q) | 37 (0 vs prior Q) | 108 (+13 vs prior Q) | 79 (-18 vs prior Q) | +20.1M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VIKING GLOBAL INVESTORS LP | $643,365,037 | 29,993,708 | 26.70% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $137,356,941 | 6,403,587 | 5.70% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $117,465,155 | 5,476,231 | 4.88% | Shares |
| WESTFIELD CAPITAL MANAGEMENT CO LP | $91,540,985 | 4,267,645 | 3.80% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $75,636,776 | 3,526,190 | 3.14% | Shares |
| STATE STREET CORP | $74,181,636 | 3,458,388 | 3.08% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $67,416,242 | 3,142,305 | 2.80% | Shares |
| UBS Group AG | $61,392,474 | 2,862,120 | 2.55% | Call option |
| Driehaus Capital Management LLC | $54,219,229 | 2,527,703 | 2.25% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $54,153,099 | 2,524,620 | 2.25% | Shares |
| FRED ALGER MANAGEMENT, LLC | $44,879,492 | 2,092,284 | 1.86% | Shares |
| ARK Investment Management LLC | $44,837,058 | 2,090,306 | 1.86% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $42,284,385 | 1,971,300 | 1.76% | Call option |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $40,523,000 | 1,889,188 | 1.68% | Shares |
| TORONTO DOMINION BANK | $38,610,000 | 1,800,000 | 1.60% | Call option |
| Aristotle Atlantic Partners, LLC | $31,871,697 | 1,485,860 | 1.32% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $28,525,411 | 1,329,856 | 1.18% | Shares |
| Amova Asset Management Americas, Inc. | $28,512,113 | 1,329,856 | 1.18% | Shares |
| OBERWEIS ASSET MANAGEMENT INC/ | $27,000,209 | 1,258,751 | 1.12% | Shares |
| PERCEPTIVE ADVISORS LLC | $26,111,621 | 1,217,325 | 1.08% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $25,279,940 | 1,178,552 | 1.05% | Shares |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | $22,993,006 | 1,071,935 | 0.95% | Shares |
| AMERIPRISE FINANCIAL INC | $21,973,304 | 1,024,394 | 0.91% | Shares |
| Blue Water Life Science Advisors, LP | $21,667,610 | 1,010,145 | 0.90% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $20,049,508 | 934,709 | 0.83% | Shares |
| Aberdeen Group plc | $19,712,507 | 918,998 | 0.82% | Shares |
| Freestone Grove Partners LP | $18,912,208 | 881,688 | 0.78% | Shares |
| KENNEDY CAPITAL MANAGEMENT LLC | $18,228,103 | 849,795 | 0.76% | Shares |
| PANAGORA ASSET MANAGEMENT INC | $16,679,842 | 777,615 | 0.69% | Shares |
| Granite Investment Partners, LLC | $16,242,305 | 757,217 | 0.67% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $16,124,115 | 751,707 | 0.67% | Shares |
| Trexquant Investment LP | $15,792,777 | 736,260 | 0.66% | Shares |
| FMR LLC | $15,183,726 | 707,866 | 0.63% | Shares |
| BANK OF AMERICA CORP /DE/ | $14,875,790 | 693,510 | 0.62% | Shares |
| Hillsdale Investment Management Inc. | $14,676,454 | 684,217 | 0.61% | Shares |
| GOLDMAN SACHS GROUP INC | $13,224,526 | 616,528 | 0.55% | Shares |
| NEXT CENTURY GROWTH INVESTORS LLC | $13,080,853 | 609,830 | 0.54% | Shares |
| TUDOR INVESTMENT CORP ET AL | $11,657,753 | 543,485 | 0.48% | Shares |
| JENNISON ASSOCIATES LLC | $11,594,647 | 540,543 | 0.48% | Shares |
| ExodusPoint Capital Management, LP | $11,114,232 | 518,146 | 0.46% | Shares |
| MILLENNIUM MANAGEMENT LLC | $10,830,298 | 504,909 | 0.45% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $10,734,760 | 500,455 | 0.45% | Shares |
| Parkman Healthcare Partners LLC | $10,445,807 | 486,984 | 0.43% | Shares |
| Qube Research & Technologies Ltd | $10,290,251 | 479,732 | 0.43% | Shares |
| ESSEX INVESTMENT MANAGEMENT CO LLC | $10,140,766 | 472,763 | 0.42% | Shares |
| JANE STREET GROUP, LLC | $10,010,608 | 466,695 | 0.42% | Shares |
| D. E. Shaw & Co., Inc. | $9,608,034 | 447,927 | 0.40% | Shares |
| FIRST TRUST ADVISORS LP | $8,962,303 | 417,823 | 0.37% | Shares |
| PEREGRINE CAPITAL MANAGEMENT LLC | $8,431,888 | 393,095 | 0.35% | Shares |
| 1492 Capital Management LLC | $8,211,918 | 382,840 | 0.34% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $8,177,770 | 381,248 | 0.34% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $7,578,735 | 353,321 | 0.31% | Shares |
| BlackRock, Inc. | $7,573,673 | 353,085 | 0.31% | Shares |
| AFFINITY WEALTH MANAGEMENT LLC | $7,348,105 | 342,569 | 0.30% | Shares |
| Lisanti Capital Growth, LLC | $6,974,575 | 325,155 | 0.29% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $6,495,060 | 302,800 | 0.27% | Shares |
| MARSHALL WACE, LLP | $6,265,095 | 292,079 | 0.26% | Shares |
| Polar Asset Management Partners Inc. | $5,846,648 | 272,571 | 0.24% | Shares |
| Allianz Asset Management GmbH | $5,271,693 | 379,805 | 0.22% | Shares |
| Swiss National Bank | $4,969,965 | 231,700 | 0.21% | Shares |
| Susquehanna Portfolio Strategies, LLC | $4,700,789 | 219,151 | 0.20% | Shares |
| Cubist Systematic Strategies, LLC | $4,339,724 | 290,088 | 0.18% | Shares |
| FIDEURAM - INTESA SANPAOLO PRIVATE BANKING S.P.A. | $4,334,983 | 202,097 | 0.18% | Shares |
| RHUMBLINE ADVISERS | $4,275,746 | 199,336 | 0.18% | Shares |
| SUSQUEHANNA ADVISORS GROUP, INC. | $3,951,090 | 184,200 | 0.16% | Shares |
| ARISTEIA CAPITAL, L.L.C. | $3,936,075 | 183,500 | 0.16% | Shares |
| CITADEL ADVISORS LLC | $3,890,086 | 181,356 | 0.16% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $3,562,437 | 166,081 | 0.15% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $3,130,542 | 145,946 | 0.13% | Shares |
| BLAIR WILLIAM & CO/IL | $3,004,308 | 140,061 | 0.12% | Shares |
| PRUDENTIAL FINANCIAL INC | $2,987,985 | 139,300 | 0.12% | Shares |
| Bank of New York Mellon Corp | $2,936,162 | 136,884 | 0.12% | Shares |
| Y-Intercept (Hong Kong) Ltd | $2,898,689 | 135,137 | 0.12% | Shares |
| OSAIC HOLDINGS, INC. | $2,896,766 | 135,053 | 0.12% | Shares |
| ALGERT GLOBAL LLC | $2,827,753 | 131,830 | 0.12% | Shares |
| LPL Financial LLC | $2,730,842 | 127,312 | 0.11% | Shares |
| EP Wealth Advisors, LLC | $2,669,474 | 124,451 | 0.11% | Shares |
| Ensign Peak Advisors, Inc | $2,590,517 | 120,770 | 0.11% | Shares |
| Nuveen, LLC | $2,520,868 | 117,523 | 0.10% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $2,503,687 | 116,722 | 0.10% | Shares |
| XTX Topco Ltd | $2,424,772 | 113,043 | 0.10% | Shares |
| ALLIANCEBERNSTEIN L.P. | $2,384,973 | 171,828 | 0.10% | Shares |
| NEUBERGER BERMAN GROUP LLC | $2,328,934 | 108,575 | 0.10% | Shares |
| Freestone Capital Holdings, LLC | $2,225,502 | 103,753 | 0.09% | Shares |
| Squarepoint Ops LLC | $2,207,141 | 102,897 | 0.09% | Shares |
| POLEN CAPITAL MANAGEMENT LLC | $2,197,703 | 102,457 | 0.09% | Shares |
| MORGAN STANLEY | $2,121,202 | 98,890 | 0.09% | Shares |
| Robertson Stephens Wealth Management, LLC | $2,085,326 | 97,218 | 0.09% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $2,081,658 | 97,047 | 0.09% | Shares |
| TWO SIGMA ADVISERS, LP | $2,080,344 | 128,100 | 0.09% | Shares |
| CITIGROUP INC | $2,043,799 | 95,282 | 0.08% | Shares |
| Huntleigh Advisors, Inc. | $1,998,523 | 93,171 | 0.08% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $1,993,973 | 143,658 | 0.08% | Shares |
| Edge Wealth Management LLC | $1,930,500 | 90,000 | 0.08% | Shares |
| MetLife Investment Management, LLC | $1,924,944 | 89,741 | 0.08% | Shares |
| Bellevue Group AG | $1,918,467 | 89,439 | 0.08% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $1,824,579 | 85,062 | 0.08% | Shares |
| TD Asset Management Inc | $1,762,890 | 82,186 | 0.07% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $1,683,889 | 78,503 | 0.07% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $1,663,683 | 77,561 | 0.07% | Shares |
Company insiders 27 insiders · 16 officers · 8 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Chad M Robins | CEO and Chairman | March 6, 2025 S | 2,959,249 | 0 | 0 | $0 |
| Kyle Piskel | Chief Financial Officer | May 16, 2025 S | 269,581 | 0 | 0 | $0 |
| Tycho Peterson | Chief Financial Officer | March 5, 2024 S | 531,553 | 0 | 0 | $0 |
| Chad M Cohen | Chief Financial Officer | Dec. 22, 2021 M | 21,604 | 0 | 0 | $0 |
| Julie Rubinstein | President and COO | March 5, 2025 S | 588,249 | 0 | 0 | $0 |
| Mark R Adams | Chief Operating Officer | April 11, 2023 S | 175,361 | 0 | 0 | $0 |
| Harlan S Robins | Chief Scientific Officer | July 21, 2026 M | 812,058 | 0 | 6 | $-21,129,500 |
| Francis Lo | Chief People Officer | July 15, 2026 M | 230,713 | 0 | 5 | $-5,241,916 |
| Sharon Benzeno | Chief Commercial Ofc Imm Med | June 29, 2026 M | 221,278 | 0 | 2 | $-3,503,510 |
| Stacy L Taylor | SVP and General Counsel | Aug. 22, 2024 S | 139,365 | 0 | 0 | $0 |
| Nitin Sood | Chief Commercial Officer, MRD | Aug. 8, 2023 S | 214,808 | 0 | 0 | $0 |
| Lance Baldo | Chief Medical Officer | March 8, 2022 S | 17,171 | 0 | 0 | $0 |
| Jyoti Palaniappan | SVP, Diagnostics, T-Detect | July 19, 2021 M | 9,158 | 0 | 0 | $0 |
| Henning Thorsen | SVP, Commercial Operations | May 17, 2021 A | 29,061 | 0 | 0 | $0 |
| Nancy Louise Hill | EVP, Operations & Program Mana | Jan. 19, 2021 M | 10,000 | 0 | 0 | $0 |
| Charles Sang | SVP, External Affairs | Dec. 11, 2020 M | 0 | 0 | 0 | $0 |
| Michelle Renee Griffin | Director | June 25, 2026 M | 15,625 | 0 | 3 | $-2,000,259 |
| Katey Einterz Owen | Director | March 4, 2025 A | 72,629 | 0 | 0 | $0 |
| Michael J Pellini | Director | March 4, 2025 A | 69,690 | 0 | 0 | $0 |
| Kevin T Conroy | Director | March 6, 2023 A | 22,968 | 0 | 0 | $0 |
| Leslie Trigg | Director | March 6, 2023 A | 25,907 | 0 | 0 | $0 |
| David E. Goel | Director | Feb. 15, 2021 A | 1,504 | 0 | 0 | $0 |
| Andris A Zoltners | Director | Feb. 13, 2020 A | 3,621,016 | 0 | 0 | $0 |
| Susan Bobulsky | — | Aug. 10, 2026 S | 396,989 | 0 | 7 | $-627,390 |
| Robert Hershberg | — | March 4, 2026 A | 62,347 | 0 | 1 | $-367,488 |
| Peter M Neupert | — | March 4, 2026 A | 240,315 | 0 | 0 | $0 |
| Eric Dobmeier | — | Feb. 14, 2021 A | 1,504 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 48 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| ARKG · ARK ETF Trust | 2.42% | 2,123,561 NS | April 30, 2026 | N-PORT |
| HTEC · EXCHANGE TRADED CONCEPTS TRUST | 1.74% | 65,865 NS | April 30, 2026 | N-PORT |
| MEDI · Harbor ETF Trust | 1.06% | 20,675 NS | April 30, 2026 | N-PORT |
| DWAS · Invesco Exchange-Traded Fund Trust … | 0.76% | 137,018 SH | Aug. 8, 2026 | Daily |
| FYC · First Trust Exchange-Traded AlphaDE… | 0.33% | 247,631 NS | April 30, 2026 | N-PORT |
| IBB · iShares Trust | 0.28% | 1,135,939 SH | Aug. 8, 2026 | Daily |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.27% | 8,711 SH | Aug. 8, 2026 | Daily |
| IWO · iShares Trust | 0.22% | 1,394,571 SH | Aug. 8, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.19% | 165,252 SH | Aug. 8, 2026 | Daily |
| AFSM · First Trust Exchange-Traded Fund VI… | 0.16% | 10,411 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.15% | 74,955 NS | May 31, 2026 | N-PORT |
| ESSC · Strategy Shares | 0.15% | 2,670 NS | April 30, 2026 | N-PORT |
| BIB · ProShares Trust | 0.12% | 5,692 NS | May 31, 2026 | N-PORT |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.12% | 99,767 NS | April 30, 2026 | N-PORT |
| ISCG · iShares Trust | 0.11% | 48,637 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.11% | 3,898,560 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.10% | 886,884 SH | Aug. 8, 2026 | Daily |
| SMLF · iShares Trust | 0.09% | 170,751 SH | Aug. 8, 2026 | Daily |
| GSSC · Goldman Sachs ETF Trust | 0.09% | 59,120 NS | May 31, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.09% | 99,762 SH | Aug. 8, 2026 | Daily |
| ESML · iShares Trust | 0.08% | 103,428 SH | Aug. 8, 2026 | Daily |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.08% | 38,966 NS | April 30, 2026 | N-PORT |
| GINN · Goldman Sachs ETF Trust | 0.07% | 9,805 NS | May 31, 2026 | N-PORT |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.07% | 23,092 NS | April 30, 2026 | N-PORT |
| RSSL · Global X Funds | 0.06% | 64,737 NS | April 30, 2026 | N-PORT |
| VFMO · VANGUARD WELLINGTON FUND | 0.06% | 51,690 SH | Aug. 8, 2026 | Daily |
| ITWO · ProShares Trust | 0.06% | 7,032 NS | May 31, 2026 | N-PORT |
| ISCB · iShares Trust | 0.06% | 6,849 SH | Aug. 8, 2026 | Daily |
| VBK · VANGUARD INDEX FUNDS | 0.04% | 1,011,327 SH | Aug. 8, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.04% | 345,932 SH | Aug. 8, 2026 | Daily |
| SCHA · SCHWAB STRATEGIC TRUST | 0.04% | 572,294 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.03% | 5,500 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.03% | 1,415,247 SH | Aug. 8, 2026 | Daily |
| WSML · iShares Trust | 0.03% | 7,505 SH | Aug. 8, 2026 | Daily |
| FHLC · FIDELITY COVINGTON TRUST | 0.03% | 52,346 NS | April 30, 2026 | N-PORT |
| URTY · ProShares Trust | 0.02% | 5,565 NS | May 31, 2026 | N-PORT |
| VB · VANGUARD INDEX FUNDS | 0.02% | 1,746,783 SH | Aug. 8, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.01% | 1,203 SH | Aug. 8, 2026 | Daily |
| HDG · ProShares Trust | 0.01% | 140 NS | May 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.01% | 9,089 NS | April 30, 2026 | N-PORT |
| ONEQ · Fidelity Commonwealth Trust | 0.01% | 42,372 NS | May 31, 2026 | N-PORT |
| IWV · iShares Trust | 0.01% | 43,269 SH | Aug. 8, 2026 | Daily |
| ITOT · iShares Trust | 0.00% | 170,705 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.00% | 28,496 NS | April 30, 2026 | N-PORT |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 75,853 NS | May 31, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 4,835,465 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 12,307 SH | Aug. 8, 2026 | Daily |
| AVSU · AMERICAN CENTURY ETF TRUST | 0.00% | 15 NS | May 31, 2026 | N-PORT |