AKBA Akebia Therapeutics, Inc. - Common Stock
$0.89
Price · Aug 24, 2026
Fundamentals as of Aug 5, 2026
52W Range
$1–$3
3% of range
Analyst Rating
STRONG BUY
11 analysts
Price Target
$4
+329% upside
P/E (TTM)
-44.7
ROE
-17.3%
Net Profit Margin
-2.3%
AKBA Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$0.89
Market Cap
$237M
P/E (TTM)
-44.7
EPS (TTM)
$-0.02
Revenue (TTM)
$236M
Div Yield
—
ROE
-17.3%
Debt/Equity
1.5
52W Range
$1 – $3
AKBA 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
$236M
2020-12-31
→
2025-12-31
EPS
$-0.02
2020-12-31
→
2025-12-31
Free Cash Flow
$68M
2020-12-31
→
2025-12-31
Margins
-2.3%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
AKBA
Peer Median
P/E (TTM)
-44.7
88.5
P/S (TTM)
1.0
1.7
P/B
7.3
3.6
EV / EBITDA
4.3
—
Price / FCF
3.5
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
AKBA
Peer Median
Operating Margin
10.0%
—
Net Profit Margin
-2.3%
-35.8%
ROA
-1.8%
-38.8%
ROE
-17.3%
-61.0%
ROIC
41.7%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
AKBA
Peer Median
Debt / Equity
1.5
0.0
Current Ratio
1.6
3.9
Quick Ratio
1.4
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
AKBA
Peer Median
Revenue YoY
47.5%
—
Revenue CAGR 3Y
-6.9%
—
Revenue CAGR 5Y
-4.3%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
AKBA
Peer Median
AKBA Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
11 analysts
- Strong Buy 5 45.5%
- Buy 5 45.5%
- Hold 1 9.1%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
5 analysts · 2026-08-22
Median
$4.00
← Below all targets
$0.89
Low
$1.00
High
$6.00
Median target
$4.00
+351.9%
Mean target
$3.80
+329.3%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.02%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.03 | $-0.04 | 0.01% |
| March 31, 2026 | $-0.03 | $-0.03 | -0.00% |
| Dec. 31, 2025 | $-0.05 | $-0.03 | -0.02% |
| Sept. 30, 2025 | $0.00 | $-0.02 | 0.02% |
| June 30, 2025 | $0.00 | $-0.02 | 0.02% |
| March 31, 2025 | $0.03 | $-0.05 | 0.08% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| AKBA | $427M | -80.5 | 47.5% | -2.3% | -17.3% | — |
| MGNX | $102M | -1.4 | -0.31% | -49.9% | -87.0% | — |
| PYXS | $72M | -0.9 | -14.2% | -574.5% | -112.9% | — |
| CNXU | — | — | — | — | — | — |
| ALEC | $172M | -1.1 | -79.1% | -679.2% | -280.7% | — |
| EBS | $644M | 13.3 | -28.8% | 7.1% | 9.9% | — |
| GLSI | $300M | -14.7 | — | — | -2159.7% | — |
| SION | $1.84B | -21.9 | — | — | -23.4% | — |
| DTIL | $100M | -1.2 | -50.1% | -133.4% | -72.4% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $236M | $160M | $195M | $292M | $212M | $295M | $335M | $208M | $181M | $2M | $0 | $0 | |
| Cost of Revenue | $39M | $63M | $74M | $86M | $151M | $296M | $145M | $8M | · | · | · | · | |
| R&D Expense | $62M | $38M | $63M | $130M | $148M | $218M | $323M | $291M | $231M | $116M | $43M | $23M | |
| SG&A Expense | $107M | $107M | $100M | $139M | $174M | $154M | $149M | $87M | $27M | $22M | $18M | $15M | |
| Operating Expenses | $173M | $147M | $167M | $288M | $325M | $376M | $476M | $378M | $258M | $138M | $62M | $38M | |
| Operating Income | $23M | $-50M | $-46M | $-81M | $-265M | $-378M | $-286M | $-178M | $-77M | $-136M | $-62M | $-38M | |
| Interest Income | · | · | · | · | · | · | · | · | · | $901.0K | $510.0K | $206.0K | |
| Other Non-op | $58.0K | $94.0K | $887.0K | $3M | $2M | $2M | $-794.0K | $81.0K | $204.0K | $-188.0K | $287.0K | $700.0K | |
| Pretax Income | $-4M | $-69M | $-52M | $-94M | $-282M | $-385M | $-286M | $-172M | $-74M | $-136M | · | · | |
| Income Tax | $2M | $0 | $0 | $0 | $0 | $0 | $-7M | $-28M | · | · | · | · | |
| Net Income | $-5M | $-69M | $-52M | $-94M | $-282M | $-385M | $-280M | $-144M | $-74M | $-136M | $-61M | $-37M | |
| EPS (Basic) | $-0.02 | $-0.33 | $-0.28 | $-0.52 | $-1.70 | $-2.78 | $-2.36 | · | · | · | · | · | |
| EPS (Diluted) | $-0.02 | $-0.33 | $-0.28 | $-0.52 | $-1.70 | $-2.78 | $-2.36 | · | · | · | · | · | |
| Shares (Basic) | 257,157,782 | 210,946,658 | 187,465,448 | 182,782,680 | 165,949,695 | 138,463,152 | 118,395,919 | · | · | · | · | · | |
| Shares (Diluted) | 257,157,782 | 210,946,658 | 187,465,448 | 182,782,680 | 165,949,695 | 138,463,152 | 118,395,919 | · | · | · | · | · | |
| EBITDA | $23M | $-50M | $-46M | $-79M | $-263M | $-374M | $-284M | $-177M | $-79M | $-136M | $-62M | $-38M |
Balance Sheet 29
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $185M | $52M | $43M | $90M | $150M | $229M | $147M | $105M | $70M | $187M | $50M | $33M | |
| Short-term Investments | · | · | · | · | · | · | · | · | $248M | $73M | $89M | $76M | |
| Receivables | $47M | $34M | $39M | $40M | $52M | $27M | $39M | $17M | $34M | $34M | · | $48.0K | |
| Inventory | $16M | $16M | $16M | $22M | $37M | $61M | $116M | $114M | · | · | · | · | |
| Prepaid Expense | $5M | $11M | $20M | $33M | $33M | $15M | $7M | $16M | $6M | $2M | $3M | $2M | |
| Other Current Assets | $4M | $7M | $6M | $17M | · | · | · | · | · | · | · | · | |
| Current Assets | $253M | $114M | $118M | $185M | $271M | $371M | $310M | $468M | $358M | $296M | $141M | $110M | |
| PP&E (Net) | $1M | $2M | $4M | $5M | $7M | $9M | $10M | $8M | $4M | $3M | $540.0K | $210.0K | |
| PP&E (Gross) | · | · | · | $15M | $14M | $14M | $14M | $10M | $5M | $3M | $687.0K | $261.0K | |
| Accum. Depreciation | · | · | · | $9M | $8M | $6M | $4M | $2M | $1M | $442.0K | $147.0K | $51.0K | |
| Goodwill | $59M | $59M | $59M | $59M | $59M | $55M | $55M | $55M | · | · | · | · | |
| Intangibles | · | $0 | $36M | $72M | $108M | $144M | $291M | $328M | · | · | · | · | |
| Other Non-current Assets | $60M | $37M | $12M | $5M | $50M | $38M | $76M | $137M | $2M | $1M | $1M | $305.0K | |
| Total Assets | $377M | $221M | $242M | $356M | $529M | $644M | $771M | $997M | $364M | $300M | $143M | $111M | |
| Accounts Payable | $21M | $15M | $15M | $18M | $34M | $41M | $39M | $43M | $7M | $2M | $2M | $2M | |
| Accrued Liabilities | $122M | $63M | $68M | $76M | $109M | $131M | $129M | $151M | $52M | $30M | $10M | $5M | |
| Current Liabilities | $163M | $81M | $100M | $130M | $261M | $187M | $208M | $266M | $141M | $114M | $12M | $7M | |
| Capital Leases | $0 | $4M | $9M | $29M | $34M | $25M | $28M | · | · | · | · | · | |
| Other Non-current Liabilities | $2M | $5M | $9M | $16M | $84M | $61M | $30M | $30M | $22.0K | $27.0K | $5.0K | $32.0K | |
| Total Liabilities | $344M | $270M | $272M | $351M | $455M | $397M | $376M | $361M | $242M | $232M | $12M | $7M | |
| Long-term Debt | $48M | $39M | $35M | $66M | $98M | $96M | $76M | · | · | · | · | · | |
| Total Debt | $48M | $39M | $35M | · | $98M | $96M | $76M | · | · | · | · | · | |
| Common Stock | $2.0K | $2.0K | $2.0K | $2.0K | $1.0K | $1.0K | $1.0K | $1.0K | $0 | $0 | $0 | $0 | |
| Retained Earnings | $-1.68B | $-1.68B | $-1.61B | $-1.56B | $-1.46B | $-1.18B | $-794M | $-514M | $-371M | $-297M | $-161M | $-101M | |
| Treasury Stock | · | · | · | · | · | · | · | · | · | · | $162.0K | $162.0K | |
| AOCI | $6.0K | $6.0K | $6.0K | $6.0K | $6.0K | $13.0K | $0 | $-261.0K | $-442.0K | $-42.0K | $-234.0K | $-56.0K | |
| Stockholders' Equity | $33M | $-49M | $-31M | $5M | $74M | $244M | $393M | $636M | $123M | $68M | $131M | $104M | |
| Liabilities + Equity | $377M | $221M | $242M | $356M | $529M | $644M | $771M | $997M | $364M | $300M | $143M | $111M | |
| Shares Outstanding | 265,424,818 | 224,848,992 | 194,582,539 | 184,135,714 | 177,000,963 | 148,074,085 | 121,674,568 | 116,887,518 | 47,612,619 | 38,615,709 | 30,662,218 | 20,370,624 |
Cash Flow 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | · | $2M | $2M | $2M | $2M | $899.0K | $617.0K | $296.0K | $96.0K | $49.0K | |
| Stock-based Comp | $11M | $8M | $9M | $18M | $23M | $24M | $12M | $19M | $9M | $6M | $5M | $6M | |
| Deferred Tax | $0 | $0 | $0 | $0 | $0 | $0 | $-7M | $-28M | $0 | $0 | $0 | $0 | |
| Amort. of Intangibles | $0 | $36M | $36M | $36M | $36M | $33M | $36M | $2M | · | · | · | · | |
| Restructuring | $0 | $58.0K | $181.0K | $16M | $0 | $0 | · | · | · | · | · | · | |
| Other Non-cash | · | · | · | $2M | $5M | $247M | $15M | $55M | $11M | $188M | · | · | |
| Operating Cash Flow | $68M | $-41M | $-23M | $-73M | $-253M | $-110M | $-257M | $-97M | $-56M | $58M | $-52M | $-27M | |
| CapEx | $291.0K | $33.0K | $0 | $114.0K | $59.0K | $317.0K | $7M | $2M | $2M | $3M | $414.0K | $229.0K | |
| Investing Cash Flow | $-8M | $-33.0K | $0 | $-114.0K | $40M | $-40M | $211M | $37M | $-177M | $13M | · | · | |
| Debt Issued | · | · | · | $0 | $0 | $20M | $78M | $0 | · | · | · | · | |
| Net Debt Issued | · | · | · | $0 | $0 | $20M | $78M | · | · | · | · | · | |
| Stock Issued | · | · | · | · | · | · | · | $468M | $373M | · | · | $104M | |
| Stock Repurchased | · | · | · | · | · | · | · | · | · | · | · | $162.0K | |
| Net Stock Activity | · | · | · | · | · | · | · | $468M | $373M | · | · | $104M | |
| Financing Cash Flow | $73M | $50M | $-25M | $15M | $134M | $232M | $89M | $97M | $116M | $67M | · | · | |
| Net Change in Cash | $133M | $9M | $-49M | $-59M | $-79M | $81M | $43M | $36M | $-117M | $138M | $17M | $12M | |
| Free Cash Flow | $68M | $-41M | $-23M | $-73M | $-253M | $-111M | $-264M | $-99M | $-58M | $55M | $-53M | $-28M |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 10.0% | -31.5% | -23.8% | -27.6% | -124.2% | -127.5% | -85.5% | -85.8% | · | · | · | · | |
| Net Margin | -2.3% | -43.3% | -26.7% | -32.2% | -132.4% | -129.8% | -83.5% | -69.1% | · | · | · | · | |
| Pretax Margin | -1.6% | -43.3% | -26.7% | -32.2% | -132.4% | -129.8% | -85.5% | -82.8% | · | · | · | · | |
| EBITDA Margin | 10.0% | -31.5% | -23.8% | -27.1% | -123.3% | -126.8% | -84.8% | -85.3% | · | · | · | · | |
| ROA | -1.8% | -30.0% | -19.9% | · | -48.4% | -54.2% | -31.6% | -21.1% | -23.2% | -61.3% | -47.8% | -50.8% | |
| ROE | -17.3% | 139.4% | 148.3% | · | -264.8% | -135.6% | -64.9% | -36.9% | -82.1% | -136.3% | -51.7% | 322.1% | |
| ROIC | 41.7% | · | · | · | -152.5% | -109.4% | -59.4% | -23.4% | · | · | · | · |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.6 | 1.4 | 1.2 | · | 1.1 | 2.0 | 1.5 | 1.8 | 2.5 | 2.6 | 11.9 | 16.0 | |
| Quick Ratio | 1.4 | 1.1 | 0.8 | · | 0.8 | 1.4 | 0.9 | 0.5 | 2.4 | 2.3 | 11.7 | 15.8 | |
| Debt / Equity | 1.5 | -0.8 | -1.1 | · | 1.3 | 0.4 | 0.2 | · | · | · | · | · | |
| LT Debt / Equity | 1.5 | -0.8 | -0.6 | · | 0.0 | 0.4 | 0.2 | · | · | · | · | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.8 | 0.7 | 0.7 | · | 0.4 | 0.4 | 0.4 | 0.3 | · | · | 0.0 | 0.0 | |
| Inventory Turnover | 2.5 | 4.0 | 4.1 | · | 3.1 | 3.3 | 0.9 | 0.1 | · | · | · | · | |
| Receivables Turnover | 5.8 | 4.3 | 6.7 | · | 5.5 | 9.0 | 12.1 | 8.2 | · | · | · | 0.0 |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 47.5% | -17.7% | -33.5% | 38.2% | -28.2% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | -6.9% | -8.9% | -12.9% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | -4.3% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $236M | $160M | $195M | $292M | $212M | $295M | $335M | $208M | $181M | $2M | $0 | $0 | |
| Net Income TTM | $-5M | $-69M | $-52M | $-94M | $-282M | $-385M | $-280M | $-144M | $-74M | $-136M | $-61M | $-37M | |
| Market Cap | $427M | $427M | $241M | · | $400M | $415M | $769M | $646M | $708M | $402M | $396M | $237M | |
| Enterprise Value | $291M | $414M | $233M | · | $348M | $282M | $697M | · | · | · | · | · | |
| P/E | -80.5 | -5.8 | -4.4 | -1.1 | -1.3 | -1.0 | -2.7 | -3.0 | -8.0 | · | · | · | |
| P/S | 1.8 | 2.7 | 1.2 | · | 1.9 | 1.4 | 2.3 | 3.1 | 3.9 | 261.9 | · | · | |
| P/B | 13.1 | -8.7 | -7.9 | · | 5.2 | 1.7 | 1.9 | 1.0 | 5.9 | 5.9 | 3.0 | 2.3 | |
| P / Tangible Book | · | · | · | · | · | 9.2 | · | · | · | · | · | · | |
| P / Cash Flow | 6.3 | -10.5 | -10.3 | · | -1.6 | -3.8 | -3.0 | -6.6 | -12.6 | 6.9 | -7.6 | -8.6 | |
| P / FCF | 6.3 | -10.5 | -10.3 | · | -1.6 | -3.7 | -2.9 | -6.5 | -12.3 | 7.3 | -7.5 | -8.6 | |
| EV / EBITDA | 12.4 | -8.2 | -5.0 | · | -1.3 | -0.8 | -2.5 | · | · | · | · | · | |
| EV / FCF | 4.3 | -10.2 | -10.0 | · | -1.4 | -2.5 | -2.6 | · | · | · | · | · | |
| EV / Revenue | 1.2 | 2.6 | 1.2 | · | 1.6 | 1.0 | 2.1 | · | · | · | · | · | |
| Earnings Yield | -1.2% | -17.4% | -22.6% | -90.1% | -75.2% | -99.3% | -37.3% | -33.6% | -12.5% | · | · | · |
Income Statement 15
| 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 | $49M | $54M | $58M | $59M | $62M | $57M | $46M | $37M | $44M | $33M | $56M | $42M | $56M | $40M | $56M | $49M | |
| Cost of Revenue | $10M | $12M | $13M | $9M | $10M | $8M | $20M | $14M | $17M | $12M | $19M | $18M | $17M | $20M | $-3M | $38M | |
| R&D Expense | $14M | $15M | $27M | $15M | $11M | $10M | $12M | $8M | $8M | $10M | $10M | $13M | $20M | $20M | $32M | $28M | |
| SG&A Expense | $28M | $30M | $26M | $29M | $27M | $26M | $28M | $27M | $27M | $25M | $25M | $23M | $27M | $25M | $30M | $32M | |
| Operating Expenses | $45M | $46M | $54M | $45M | $38M | $36M | $40M | $36M | $35M | $36M | $36M | $37M | $48M | $45M | $64M | $61M | |
| Operating Income | $-6M | $-5M | $-9M | $4M | $14M | $14M | $-14M | $-13M | $-9M | $-15M | $1M | $-13M | $-9M | $-26M | $-5M | $-50M | |
| Other Non-op | $-7.0K | $3.0K | $-117.0K | $-10.0K | $-28.0K | $213.0K | $55.0K | $-17.0K | $-39.0K | $95.0K | $658.0K | $-43.0K | $-10.0K | $282.0K | $434.0K | $1M | |
| Pretax Income | $-9M | $-9M | $-11M | $1M | $247.0K | $6M | $-23M | $-20M | $-9M | $-18M | $612.0K | $-14M | $-11M | $-27M | · | · | |
| Income Tax | $70.0K | $126.0K | $1M | $615.0K | $0 | $0 | $0 | $0 | · | · | · | · | · | · | · | · | |
| Net Income | $-9M | $-9M | $-12M | $540.0K | $247.0K | $6M | $-23M | $-20M | $-9M | $-18M | $612.0K | $-14M | $-11M | $-27M | $-6M | $-54M | |
| EPS (Basic) | $-0.03 | $-0.03 | $-0.05 | $0.00 | $0.00 | $0.03 | $-0.10 | $-0.10 | $-0.04 | $-0.09 | $0.01 | $-0.08 | $-0.06 | $-0.15 | $-0.04 | $-0.29 | |
| EPS (Diluted) | $-0.03 | $-0.03 | $-0.05 | $0.00 | $0.00 | $0.03 | $-0.10 | $-0.10 | $-0.04 | $-0.09 | $0.01 | $-0.08 | $-0.06 | $-0.15 | $-0.03 | $-0.29 | |
| Shares (Basic) | 269,602,747 | 267,046,755 | -505,691,870 | 264,786,432 | 262,565,500 | 235,497,720 | -414,062,349 | 210,348,459 | 209,705,397 | 204,955,151 | -372,427,316 | 188,306,350 | 186,817,431 | 184,768,983 | -364,296,577 | 183,882,446 | |
| Shares (Diluted) | 269,602,747 | 267,046,755 | -529,921,813 | 274,372,722 | 271,104,020 | 241,602,853 | -414,062,349 | 210,348,459 | 209,705,397 | 204,955,151 | -372,427,316 | 188,306,350 | 186,817,431 | 184,768,983 | -371,074,128 | 183,882,446 | |
| EBITDA | $-6M | $-5M | · | $4M | $14M | $14M | · | $-13M | $-9M | $-15M | · | $-13M | $-9M | $-25M | · | $-48M |
Balance Sheet 25
| 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 | $156M | $163M | $185M | $166M | $137M | $113M | $52M | $34M | $39M | $42M | $43M | $47M | $54M | $57M | $90M | $145M | |
| Receivables | $54M | $63M | $47M | $66M | $73M | $62M | $34M | $32M | $30M | $27M | · | $23M | $20M | $18M | $40M | $23M | |
| Inventory | $13M | $13M | $16M | $19M | $17M | $20M | $16M | $20M | $24M | $26M | · | $18M | $21M | $21M | $22M | $40M | |
| Prepaid Expense | $7M | $5M | $5M | $7M | $8M | $9M | $11M | $13M | $19M | $19M | · | $22M | $24M | $25M | $33M | $30M | |
| Other Current Assets | $6M | $4M | $4M | $5M | $8M | $8M | $7M | $6M | $7M | $5M | · | · | · | · | $17M | · | |
| Current Assets | $230M | $243M | $253M | $258M | $235M | $204M | $114M | $100M | $112M | $113M | · | $110M | $118M | $121M | $185M | $238M | |
| PP&E (Net) | $2M | $956.0K | $1M | $1M | $2M | $2M | $2M | $3M | $3M | $3M | · | $4M | $4M | $5M | $5M | $6M | |
| Goodwill | $59M | $59M | $59M | $59M | $59M | $59M | $59M | $59M | $59M | $59M | · | $59M | $59M | $55M | $59M | $55M | |
| Intangibles | · | · | · | · | · | · | · | $9M | $18M | $27M | · | $45M | $54M | $63M | $72M | $81M | |
| Other Non-current Assets | $54M | $57M | $60M | $40M | $44M | $38M | $37M | $27M | $18M | $12M | · | $4M | $3M | $5M | $5M | $26M | |
| Total Assets | $350M | $363M | $377M | $364M | $346M | $310M | $221M | $207M | $220M | $225M | · | $235M | $254M | $277M | $356M | $436M | |
| Accounts Payable | $9M | $8M | $21M | $10M | $12M | $13M | $15M | $13M | $10M | $12M | · | $9M | $12M | $13M | $18M | $20M | |
| Accrued Liabilities | $110M | $125M | $122M | $106M | $92M | $71M | $63M | $52M | $54M | $54M | · | $63M | $56M | $46M | $76M | $87M | |
| Current Liabilities | $161M | $174M | $163M | $133M | $119M | $91M | $81M | $66M | $107M | $66M | · | $80M | $92M | $83M | $130M | $188M | |
| Capital Leases | $4M | · | $0 | $0 | $671.0K | $2M | $4M | $5M | $6M | $8M | · | $10M | $11M | $27M | $29M | $31M | |
| Other Non-current Liabilities | $562.0K | $681.0K | $2M | $5M | $5M | $5M | $5M | $5M | $7M | $7M | · | $9M | $17M | $13M | $16M | $74M | |
| Total Liabilities | $325M | $335M | $344M | $323M | $316M | $286M | $270M | $258M | $254M | $253M | · | $274M | $281M | $291M | $351M | $422M | |
| Long-term Debt | $50M | $49M | $48M | $48M | $47M | $47M | · | $38M | $38M | $30M | · | $43M | $42M | $50M | $66M | $66M | |
| Total Debt | $50M | $49M | · | $48M | $47M | $47M | · | $38M | $38M | $30M | · | $43M | $42M | $50M | · | $66M | |
| Common Stock | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | · | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | |
| Retained Earnings | $-1.70B | $-1.69B | $-1.68B | $-1.67B | $-1.67B | $-1.67B | $-1.68B | $-1.66B | $-1.64B | $-1.63B | · | $-1.61B | $-1.60B | $-1.58B | $-1.56B | $-1.55B | |
| AOCI | $6.0K | $6.0K | $6.0K | $6.0K | $6.0K | $6.0K | $6.0K | $6.0K | $6.0K | $6.0K | · | $6.0K | $6.0K | $6.0K | $6.0K | $6.0K | |
| Stockholders' Equity | $25M | $27M | $33M | $42M | $29M | $25M | $-49M | $-50M | $-34M | $-27M | $-31M | $-39M | $-27M | $-14M | $5M | $14M | |
| Liabilities + Equity | $350M | $363M | $377M | $364M | $346M | $310M | $221M | $207M | $220M | $225M | · | $235M | $254M | $277M | $356M | $436M | |
| Shares Outstanding | 271,742,717 | 267,898,415 | 265,424,818 | 265,226,038 | 263,041,832 | 261,644,590 | 224,848,992 | 211,542,122 | 209,929,145 | 209,454,149 | 194,582,539 | 188,313,807 | 188,128,869 | 185,835,946 | 184,135,714 | 183,951,583 |
Cash Flow 9
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $3M | $4M | $3M | $3M | $3M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $3M | $2M | $3M | $3M | |
| Amort. of Intangibles | · | · | $0 | $0 | $0 | $0 | $9M | $9M | $9M | $9M | $9M | $9M | $9M | $9M | $9M | $9M | |
| Restructuring | $2M | · | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $58.0K | $0 | $169.0K | $-94.0K | $106.0K | $1M | $180.0K | |
| Operating Cash Flow | $4M | $-21M | $31M | $28M | $22M | $-14M | $-4M | $-7M | $-10M | $-19M | $-2M | $-7M | $4M | $-18M | $-55M | $34M | |
| CapEx | $1M | $62.0K | $70.0K | $77.0K | $126.0K | $18.0K | $2.0K | $2.0K | $29.0K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Investing Cash Flow | $-4M | $-62.0K | $-8M | $-77.0K | $-126.0K | $154.0K | $-2.0K | $-2.0K | $-29.0K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Financing Cash Flow | $-7M | $-926.0K | $-5M | $1M | $2M | $75M | $22M | $1M | $8M | $18M | $-1M | $50.0K | $-8M | $-16M | $-1.0K | $-33M | |
| Net Change in Cash | $-7M | $-22M | $18M | $29M | $24M | $62M | $18M | $-5M | $-2M | $-957.0K | $-4M | $-7M | $-4M | $-34M | $-55M | $868.0K | |
| Free Cash Flow | · | $-21M | · | · | · | $-14M | · | · | · | · | · | · | · | $-18M | · | · |
Profitability 7
| 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 | -12.9% | -8.8% | · | 7.6% | 22.6% | 23.6% | · | -33.4% | -20.0% | -45.8% | · | -31.0% | -16.0% | -62.2% | · | -98.4% | |
| Net Margin | -18.1% | -16.9% | · | 0.92% | 0.40% | 10.7% | · | -53.5% | -19.7% | -55.2% | · | -34.5% | -19.8% | -65.3% | · | -105.9% | |
| Pretax Margin | -18.0% | -16.7% | · | 2.0% | 0.40% | 10.7% | · | -53.5% | -19.7% | -55.2% | · | · | · | · | · | · | |
| EBITDA Margin | -12.9% | -8.8% | · | 7.6% | 22.6% | 23.6% | · | -33.4% | -20.0% | -45.8% | · | -31.0% | -16.0% | -62.2% | · | -98.4% | |
| ROA | -2.6% | -2.7% | · | 0.19% | 0.09% | 2.3% | · | -9.1% | -3.6% | -7.2% | · | -4.3% | -2.9% | -6.5% | · | -10.0% | |
| ROE | -32.9% | -34.8% | · | -12.3% | -10.9% | -456.6% | · | 44.6% | 28.3% | 86.5% | · | 113.3% | -62.9% | -445.7% | · | -68.7% | |
| ROIC | -8.6% | -6.2% | · | 2.3% | · | · | · | · | · | · | · | · | · | · | · | · |
Liquidity & Solvency 4
| 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 | 1.4 | 1.4 | · | 1.9 | 2.0 | 2.2 | · | 1.5 | 1.0 | 1.7 | · | 1.4 | 1.3 | 1.5 | · | 1.3 | |
| Quick Ratio | 1.3 | 1.3 | · | 1.7 | 1.8 | 1.9 | · | 1.0 | 0.6 | 1.0 | · | 0.9 | 0.8 | 0.9 | · | 0.9 | |
| Debt / Equity | 2.0 | 1.8 | · | 1.1 | 1.6 | 1.9 | · | -0.8 | -1.1 | -1.1 | · | -1.1 | -1.6 | -3.5 | · | 4.8 | |
| LT Debt / Equity | 1.0 | 1.3 | · | 1.1 | 1.6 | 1.9 | · | -0.8 | -1.1 | -1.1 | · | -0.9 | -0.7 | -1.8 | · | · |
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 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Inventory Turnover | 0.7 | 0.8 | · | 0.5 | 0.5 | 0.3 | · | 0.7 | 0.8 | 0.5 | · | 0.6 | 0.6 | 0.6 | · | 1.0 | |
| Receivables Turnover | 0.8 | 0.9 | · | 1.2 | 1.2 | 1.3 | · | 1.4 | 1.8 | 1.5 | · | 1.8 | 1.1 | 1.0 | · | 1.3 |
Valuation (TTM) 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 TTM | $224M | $232M | · | $216M | $201M | $171M | · | $156M | $175M | $171M | · | $187M | $271M | $277M | · | $286M | |
| Net Income TTM | $-17M | $-2M | · | $-13M | $-22M | $-40M | · | $-61M | $-52M | $-71M | · | $-107M | $-63M | $-115M | · | $-148M | |
| Market Cap | $310M | $372M | · | $724M | $957M | $502M | · | $279M | $214M | $383M | · | $215M | $172M | $104M | · | $58M | |
| Enterprise Value | $204M | $259M | · | $605M | $867M | $435M | · | $284M | $213M | $371M | · | $211M | $161M | $97M | · | $-21M | |
| P/E | -19.0 | · | · | -39.0 | -33.1 | -9.6 | · | -4.3 | -3.8 | -4.8 | · | -2.0 | -2.6 | -0.9 | · | -0.4 | |
| P/S | 1.4 | 1.6 | · | 3.4 | 4.8 | 2.9 | · | 1.8 | 1.2 | 2.2 | · | 1.1 | 0.6 | 0.4 | · | 0.2 | |
| P/B | 12.4 | 13.6 | · | 17.4 | 32.8 | 20.4 | · | -5.5 | -6.3 | -14.1 | · | -5.4 | -6.4 | -7.3 | · | 4.2 | |
| P / Cash Flow | · | -17.6 | · | · | · | -37.0 | · | · | · | -19.7 | · | · | · | -5.9 | · | · | |
| P / FCF | · | -17.5 | · | · | · | -36.9 | · | · | · | · | · | · | · | -5.9 | · | · | |
| EV / EBITDA | -32.2 | -55.1 | · | 136.0 | 61.6 | 32.2 | · | -22.7 | -24.4 | -24.9 | · | -16.2 | -17.9 | -3.9 | · | 0.4 | |
| EV / FCF | · | -12.2 | · | · | · | -32.0 | · | · | · | · | · | · | · | -5.6 | · | · | |
| EV / Revenue | 0.9 | 1.1 | · | 2.8 | 4.3 | 2.5 | · | 1.8 | 1.2 | 2.2 | · | 1.1 | 0.6 | 0.4 | · | -0.1 | |
| Earnings Yield | -5.3% | 0.00% | · | -2.6% | -3.0% | -10.4% | · | -23.5% | -26.5% | -20.8% | · | -50.9% | -38.2% | -114.3% | · | -262.7% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2023-03-31 | 2022-12-31 | |
|---|---|---|---|---|---|
| Revenue | $236M | $160M | $195M | — | $292M |
| Operating Margin % | 10.0% | -31.5% | -23.8% | — | -27.6% |
| Net Income | $-5M | $-69M | $-52M | — | $-94M |
| Diluted EPS | $-0.02 | $-0.33 | $-0.28 | — | $-0.52 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2023-03-31 | 2022-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 1.5 | -0.8 | -1.1 | — | — |
| Current Ratio | 1.6 | 1.4 | 1.2 | — | — |
| Quick Ratio | 1.4 | 1.1 | 0.8 | — | — |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2023-03-31 | 2022-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $68M | $-41M | $-23M | — | $-73M |
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Institutional owners (13F) 184 filers · $87.7M 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 |
|---|---|---|---|---|
| 39 (+4 vs prior Q) | 35 (+9 vs prior Q) | 63 (+18 vs prior Q) | 36 (-14 vs prior Q) | -3.7M |
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 |
|---|---|---|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC | $12,907,243 | 11,322,143 | 14.72% | Shares |
| SATTER MANAGEMENT CO., L.P. | $10,921,021 | 5,747,906 | 12.45% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $6,557,737 | 5,750,625 | 7.48% | Shares |
| STATE STREET CORP | $6,145,572 | 5,390,853 | 7.01% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $4,871,250 | 4,273,026 | 5.55% | Shares |
| MILLENNIUM MANAGEMENT LLC | $3,644,130 | 3,196,605 | 4.15% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $2,888,734 | 2,533,977 | 3.29% | Shares |
| GOLDMAN SACHS GROUP INC | $2,779,842 | 2,438,458 | 3.17% | Shares |
| TWO SIGMA INVESTMENTS, LP | $2,777,807 | 2,436,673 | 3.17% | Shares |
| VANGUARD GROUP INC | $2,715,740 | 1,686,795 | 3.10% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $2,622,499 | 2,300,438 | 2.99% | Shares |
| Nantahala Capital Management, LLC | $2,280,000 | 2,000,000 | 2.60% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $2,176,029 | 1,908,797 | 2.48% | Shares |
| FMR LLC | $2,132,467 | 1,870,585 | 2.43% | Shares |
| Qube Research & Technologies Ltd | $2,028,866 | 1,779,707 | 2.31% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $1,395,318 | 1,223,963 | 1.59% | Shares |
| CITIGROUP INC | $1,265,009 | 1,109,657 | 1.44% | Shares |
| MANGROVE PARTNERS IM, LLC | $760,328 | 666,954 | 0.87% | Shares |
| AMERIPRISE FINANCIAL INC | $703,205 | 616,846 | 0.80% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $672,396 | 589,821 | 0.77% | Shares |
| TWO SIGMA ADVISERS, LP | $643,918 | 399,949 | 0.73% | Shares |
| CHOREO, LLC | $641,162 | 562,423 | 0.73% | Shares |
| Quantinno Capital Management LP | $640,820 | 562,123 | 0.73% | Shares |
| Creative Planning | $622,144 | 545,740 | 0.71% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $606,265 | 531,813 | 0.69% | Shares |
| MORGAN STANLEY | $584,591 | 512,799 | 0.67% | Shares |
| PANAGORA ASSET MANAGEMENT INC | $531,832 | 466,519 | 0.61% | Shares |
| ALLIANCEBERNSTEIN L.P. | $493,325 | 354,910 | 0.56% | Shares |
| Eversept Partners, LP | $486,888 | 427,095 | 0.56% | Shares |
| BANK OF AMERICA CORP /DE/ | $473,308 | 415,182 | 0.54% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $368,904 | 323,600 | 0.42% | Shares |
| VIRTUS ADVISERS, LLC | $359,940 | 315,737 | 0.41% | Shares |
| RHUMBLINE ADVISERS | $350,544 | 307,503 | 0.40% | Shares |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | $336,186 | 294,900 | 0.38% | Shares |
| ALPS ADVISORS INC | $310,379 | 272,262 | 0.35% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $307,391 | 269,641 | 0.35% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $304,722 | 267,300 | 0.35% | Put option |
| FRANKLIN RESOURCES INC | $286,156 | 251,014 | 0.33% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $279,072 | 244,800 | 0.32% | Call option |
| Vanguard Global Advisers, LLC | $251,440 | 220,561 | 0.29% | Shares |
| Graham Capital Management, L.P. | $236,845 | 207,759 | 0.27% | Shares |
| Bank of New York Mellon Corp | $227,323 | 199,406 | 0.26% | Shares |
| Wealthspire Advisors, LLC | $205,203 | 180,002 | 0.23% | Shares |
| CITADEL ADVISORS LLC | $190,608 | 167,200 | 0.22% | Put option |
| BlackRock, Inc. | $189,909 | 166,587 | 0.22% | Shares |
| Nuveen Asset Management, LLC | $186,464 | 98,139 | 0.21% | Shares |
| Man Group plc | $177,151 | 155,396 | 0.20% | Shares |
| Mariner, LLC | $175,851 | 154,256 | 0.20% | Shares |
| MetLife Investment Management, LLC | $174,281 | 152,878 | 0.20% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $157,464 | 112,474 | 0.18% | Shares |
| Russell Investments Group, Ltd. | $143,655 | 126,014 | 0.16% | Shares |
| BARCLAYS PLC | $139,430 | 122,307 | 0.16% | Shares |
| VIRGINIA RETIREMENT SYSTEMS ET Al | $136,850 | 85,000 | 0.16% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $135,666 | 119,005 | 0.15% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $127,402 | 111,756 | 0.15% | Shares |
| Invesco Ltd. | $116,967 | 102,603 | 0.13% | Shares |
| GROUP ONE TRADING LLC | $115,841 | 101,615 | 0.13% | Shares |
| Fiduciary Trust Co | $114,000 | 100,000 | 0.13% | Shares |
| CITADEL ADVISORS LLC | $110,580 | 97,000 | 0.13% | Call option |
| LPL Financial LLC | $108,888 | 95,516 | 0.12% | Shares |
| IEQ CAPITAL, LLC | $105,312 | 92,379 | 0.12% | Shares |
| Jain Global LLC | $104,214 | 91,416 | 0.12% | Shares |
| Focus Partners Wealth | $92,280 | 80,948 | 0.11% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $91,133 | 79,941 | 0.10% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $90,174 | 79,100 | 0.10% | Shares |
| Headlands Technologies LLC | $88,911 | 77,992 | 0.10% | Shares |
| Abel Hall, LLC | $85,999 | 75,438 | 0.10% | Shares |
| SEI INVESTMENTS CO | $84,797 | 74,383 | 0.10% | Shares |
| D. E. Shaw & Co., Inc. | $82,699 | 72,543 | 0.09% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $81,957 | 71,892 | 0.09% | Shares |
| OSAIC HOLDINGS, INC. | $79,715 | 69,926 | 0.09% | Shares |
| Police & Firemen's Retirement System of New Jersey | $78,757 | 69,085 | 0.09% | Shares |
| Brevan Howard Capital Management LP | $72,675 | 63,750 | 0.08% | Shares |
| CITADEL ADVISORS LLC | $72,243 | 63,371 | 0.08% | Shares |
| INTECH INVESTMENT MANAGEMENT LLC | $70,931 | 62,220 | 0.08% | Shares |
| Squarepoint Ops LLC | $67,747 | 59,427 | 0.08% | Shares |
| CWA Asset Management Group, LLC | $67,260 | 59,000 | 0.08% | Shares |
| RAYMOND JAMES FINANCIAL INC | $65,585 | 57,531 | 0.07% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $63,105 | 55,355 | 0.07% | Shares |
| Arax Advisory Partners | $62,700 | 54,999 | 0.07% | Shares |
| VOYA INVESTMENT MANAGEMENT LLC | $61,941 | 54,334 | 0.07% | Shares |
| CAPTRUST FINANCIAL ADVISORS | $61,567 | 54,006 | 0.07% | Shares |
| JANE STREET GROUP, LLC | $59,280 | 52,000 | 0.07% | Call option |
| PDS Planning, Inc | $57,000 | 50,000 | 0.06% | Shares |
| Nuveen, LLC | $56,925 | 49,934 | 0.06% | Shares |
| UBS Group AG | $52,834 | 46,346 | 0.06% | Shares |
| PRUDENTIAL FINANCIAL INC | $50,028 | 43,884 | 0.06% | Shares |
| NORTHERN TRUST CORP | $46,146 | 40,479 | 0.05% | Shares |
| TWO SIGMA SECURITIES, LLC | $45,753 | 40,134 | 0.05% | Shares |
| EP Wealth Advisors, LLC | $44,059 | 38,648 | 0.05% | Shares |
| HighTower Advisors, LLC | $43,968 | 38,568 | 0.05% | Shares |
| Gotham Asset Management, LLC | $41,100 | 36,053 | 0.05% | Shares |
| Scientech Research LLC | $40,117 | 35,190 | 0.05% | Shares |
| Empirical Asset Management, LLC | $39,900 | 35,000 | 0.05% | Shares |
| ProShare Advisors LLC | $38,572 | 33,836 | 0.04% | Shares |
| NEUBERGER BERMAN GROUP LLC | $37,783 | 33,143 | 0.04% | Shares |
| CWM, LLC | $36,332 | 26,138 | 0.04% | Shares |
| Tower Research Capital LLC (TRC) | $35,706 | 31,321 | 0.04% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $34,394 | 30,170 | 0.04% | Shares |
| Sonora Investment Management Group, LLC | $32,760 | 12,000 | 0.04% | Shares |
Company insiders 29 insiders · 9 officers · 17 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Erik Ostrowski | SVP, CFO, CBO & Treasurer | June 29, 2026 S | 616,616 | 0 | 1 | $-62,181 |
| David A Spellman | SVP, CFO and Treasurer | June 30, 2020 A | — | 0 | 0 | $0 |
| Jason Amello | SVP, CFO & Treasurer | April 11, 2019 D | 118,618 | 0 | 0 | $0 |
| Rita Jain | SVP, Chief Medical Officer | April 11, 2019 D | 96,332 | 0 | 0 | $0 |
| Michel Dahan | SVP, Chief Business Officer | April 11, 2019 D | 146,932 | 0 | 0 | $0 |
| Nicole R. Hadas | SVP, CLO & Secretary | April 11, 2019 D | 154,806 | 0 | 0 | $0 |
| Karen L Tubridy | SVP, Chief Development Officer | April 11, 2019 D | 55,324 | 0 | 0 | $0 |
| Bradley Maroni | SVP and Chief Medical Officer | Feb. 22, 2016 A | 38,859 | 0 | 0 | $0 |
| Robert Shalwitz | Chief Medical Officer | May 14, 2014 A | 264,556 | 0 | 0 | $0 |
| Ron Frieson | Director | June 17, 2026 A | 165,200 | 0 | 0 | $0 |
| Myles Wolf | Director | June 17, 2026 A | 169,081 | 0 | 0 | $0 |
| Cynthia Smith | Director | June 17, 2026 A | 196,633 | 0 | 0 | $0 |
| Adrian Adams | Director | June 17, 2026 A | 236,200 | 0 | 0 | $0 |
| Michael W Rogers | Director | June 17, 2026 A | 197,429 | 0 | 0 | $0 |
| Leanne M Zumwalt | Director | June 17, 2026 A | 145,100 | 0 | 0 | $0 |
| Jodie Pope Morrison | Director | Dec. 12, 2018 A | 44,919 | 0 | 0 | $0 |
| Mark J Enyedy | Director | Dec. 12, 2018 A | 3,743 | 0 | 0 | $0 |
| Michael Thomas Heffernan | Director | Dec. 12, 2018 A | 7,486 | 0 | 0 | $0 |
| Steven C Gilman | Director | Dec. 12, 2018 A | 10,231 | 0 | 0 | $0 |
| Satter Muneer A | Director | July 5, 2017 P | 3,037,042 | 0 | 0 | $0 |
| Duane Nash | Director | Oct. 2, 2015 S | 31,609 | 0 | 0 | $0 |
| Anupam Dalal | Director | June 10, 2015 A | — | 0 | 0 | $0 |
| Michael D. Clayman | Director | June 10, 2015 A | — | 0 | 0 | $0 |
| Ronald C Renaud JR | Director | June 10, 2015 A | 5,000 | 0 | 0 | $0 |
| Maxine Gowen | Director | June 10, 2015 A | 1,300 | 0 | 0 | $0 |
| Michael S Wyzga | Director | June 10, 2015 A | 1,500 | 0 | 0 | $0 |
| John P. Butler | — | Aug. 6, 2026 M | 3,718,564 | 0 | 0 | $0 |
| Novo Holdings A/S | — | March 25, 2014 C | 1,516,387 | 0 | 0 | $0 |
| Novartis Bioventures Ltd | — | March 25, 2014 C | 3,405,764 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 5 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Muneer A. Satter (2) ×3 filings | Jan. 11, 2019 | — | Initial filing | M&A / sale | SEC |
| Nantahala Capital Management, LLC, Wilmot B. Harkey, Daniel Mack ×2 filings | Dec. 21, 2018 | — | Initial filing | Passive investment | SEC |
| Vifor (International) Ltd., Vifor Pharma Ltd. ×2 filings | Aug. 10, 2017 | — | Initial filing | — | SEC |
| Kearny Venture Partners, L.P. (“KVP”), Kearny Venture Partners Entrepreneurs’ Fund, L.P. (“KVPE”), Thomas Weisel Healthcare Venture Partners, L.P. (“TWHVP”), Kearny Venture Associates, L.L.C. (“KVA”), Caley Castelein (“Castelein”), Richard Spalding (“Spalding”), James Shapiro (“Shapiro”) ×2 filings | Jan. 20, 2016 | — | Initial filing | — | SEC |
| Novo A/S ×3 filings | Nov. 18, 2015 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 31 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 |
|---|---|---|---|---|
| QQQS · Invesco Exchange-Traded Fund Trust … | 0.44% | 109,760 SH | Aug. 21, 2026 | Daily |
| SBIO · ALPS ETF Trust | 0.17% | 276,121 NS | May 31, 2026 | N-PORT |
| LABU · Direxion Shares ETF Trust | 0.09% | 352,079 NS | April 30, 2026 | N-PORT |
| IWC · iShares Trust | 0.05% | 891,009 SH | Aug. 21, 2026 | Daily |
| GSSC · Goldman Sachs ETF Trust | 0.03% | 326,417 NS | May 31, 2026 | N-PORT |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.02% | 249,458 SH | Aug. 19, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.01% | 449,603 SH | Aug. 21, 2026 | Daily |
| IWO · iShares Trust | 0.01% | 2,169,896 SH | Aug. 21, 2026 | Daily |
| RSSL · Global X Funds | 0.01% | 111,420 NS | April 30, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.01% | 1,485,665 SH | Aug. 19, 2026 | Daily |
| IWM · iShares Trust | 0.01% | 6,688,188 SH | Aug. 21, 2026 | Daily |
| ITWO · ProShares Trust | 0.01% | 11,916 NS | May 31, 2026 | N-PORT |
| RB · ProShares Trust | 0.01% | 74 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.01% | 1,262,655 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.00% | 9,319 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.00% | 9,423 NS | May 31, 2026 | N-PORT |
| IWN · iShares Trust | 0.00% | 338,633 SH | Aug. 21, 2026 | Daily |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 11,769 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 237 NS | May 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 365,352 SH | Aug. 21, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.00% | 108,459 NS | April 30, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 6,918 NS | April 30, 2026 | N-PORT |
| IWV · iShares Trust | 0.00% | 45,806 SH | Aug. 21, 2026 | Daily |
| DFAU · Dimensional ETF Trust | 0.00% | 6,798 NS | April 30, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.00% | 11,776 NS | April 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 3,164,884 SH | Aug. 19, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 7,912,283 SH | Aug. 19, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.00% | 24,210 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 20,230 SH | Aug. 19, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.00% | 754,414 SH | Aug. 19, 2026 | Daily |
| SMLF · iShares Trust | — | 621,529 SH | Aug. 21, 2026 | Daily |