DYN Dyne Therapeutics, Inc. - Common Stock
$26.41
Price · Aug 19, 2026
Fundamentals as of Jul 29, 2026
52W Range
$12–$27
94% of range
Analyst Rating
BUY
21 analysts
Price Target
$39
+49% upside
P/E (TTM)
-7.6
ROE
-57.8%
Net Profit Margin
—
DYN Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$26.41
Market Cap
$4.36B
P/E (TTM)
-7.6
EPS (TTM)
$-3.47
Revenue (TTM)
—
Div Yield
—
ROE
-57.8%
Debt/Equity
—
52W Range
$12 – $27
DYN 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
—
EPS
$-3.47
2021-12-31
→
2025-12-31
Free Cash Flow
$-405M
2020-12-31
→
2025-12-31
Margins
—
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
DYN
Peer Median
P/E (TTM)
-7.6
13.2
P/B
4.5
3.5
Price / FCF
-10.8
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
DYN
Peer Median
ROA
-47.5%
-42.2%
ROE
-57.8%
-52.8%
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
DYN
Peer Median
Current Ratio
22.3
10.3
Quick Ratio
17.6
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
DYN
Peer Median
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
DYN
Peer Median
DYN Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
21 analysts
- Strong Buy 7 33.3%
- Buy 12 57.1%
- Hold 2 9.5%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
15 analysts · 2026-08-15
Median
$40.00
Now
$26.41
Low
$17.00
High
$50.00
Median target
$40.00
+51.5%
Mean target
$39.40
+49.2%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.06%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-1.08 | $-0.76 | -0.32% |
| March 31, 2026 | $-0.73 | $-0.78 | 0.05% |
| Dec. 31, 2025 | $-0.76 | $-0.78 | 0.02% |
| Sept. 30, 2025 | $-0.76 | $-0.85 | 0.09% |
| June 30, 2025 | $-0.97 | $-0.96 | -0.01% |
| March 31, 2025 | $-1.05 | $-0.89 | -0.16% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| DYN | $3.23B | -5.6 | — | — | -57.8% | — |
| CAI | $7.62B | -8.4 | 97.0% | -8.4% | -13.2% | — |
| PTCT | $6.19B | 9.8 | 114.5% | 39.4% | -331.5% | — |
| TVTX | $3.47B | -131.8 | 110.5% | -5.2% | -34.6% | — |
| ACAD | $4.55B | 11.6 | 11.9% | 36.5% | 38.1% | — |
| PBLS | — | — | — | — | — | — |
| CELC | $4.81B | -26.3 | — | — | -244.3% | — |
| RLAY | $1.47B | -5.3 | 53.4% | -1800.6% | -44.9% | — |
| TNGX | $1.20B | -10.2 | 48.3% | -162.8% | -42.2% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| R&D Expense | $398M | $281M | $211M | $143M | $121M | $45M | $11M | |
| SG&A Expense | $70M | $62M | $31M | $28M | $29M | $13M | $3M | |
| Operating Expenses | $468M | $344M | $242M | $171M | $150M | $59M | $14M | |
| Operating Income | $-468M | $-344M | $-242M | $-171M | $-150M | $-59M | $-14M | |
| Other Non-op | $22M | $26M | $6M | $3M | $734.0K | $-790.0K | $-1M | |
| Income Tax | $0 | $0 | $0 | · | · | · | · | |
| Net Income | $-446M | $-317M | $-236M | $-168M | $-149M | $-59M | $-15M | |
| EPS (Basic) | $-3.47 | $-3.37 | $-3.95 | $-3.23 | $-2.93 | · | · | |
| EPS (Diluted) | $-3.47 | $-3.37 | $-3.95 | $-3.23 | $-2.93 | · | · | |
| EBITDA | $-466M | $-342M | $-240M | $-169M | $-149M | $-58M | · |
Balance Sheet 20
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $893M | $435M | $122M | $172M | $201M | $301M | $15M | |
| Prepaid Expense | $16M | $17M | $6M | $10M | $6M | $4M | $127.0K | |
| Current Assets | $1.13B | $659M | $129M | $266M | $382M | $349M | $15M | |
| PP&E (Net) | $24M | $5M | $5M | $6M | $5M | $2M | $1M | |
| PP&E (Gross) | $33M | $12M | $10M | $10M | $7M | $3M | $2M | |
| Accum. Depreciation | $9M | $7M | $5M | $4M | $2M | $995.0K | $295.0K | |
| Other Non-current Assets | · | · | · | · | · | · | $191.0K | |
| Total Assets | $1.19B | $691M | $165M | $306M | $426M | $353M | $16M | |
| Accounts Payable | $8M | $7M | $23M | $5M | $4M | $3M | $1M | |
| Current Liabilities | $51M | $42M | $51M | $28M | $29M | $11M | $2M | |
| Capital Leases | $15M | $19M | $23M | $26M | $29M | $0 | · | |
| Total Liabilities | $215M | $61M | $74M | $54M | $57M | $11M | $2M | |
| Long-term Debt | $149M | $0 | · | · | · | · | · | |
| Common Stock | $16.0K | $10.0K | $6.0K | $6.0K | $6.0K | $5.0K | $1.0K | |
| Paid-in Capital | $2.37B | $1.58B | $724M | $650M | $597M | $422M | $6M | |
| Retained Earnings | $-1.40B | $-950M | $-633M | $-397M | $-228M | $-79M | $-20M | |
| AOCI | $475.0K | $6.0K | $0 | $-571.0K | $-269.0K | $-27.0K | · | |
| Stockholders' Equity | $972M | $630M | $91M | $252M | $368M | $342M | $14M | |
| Liabilities + Equity | $1.19B | $691M | $165M | $306M | $426M | $353M | $16M | |
| Shares Outstanding | 164,950,540 | 102,318,629 | 61,468,743 | 55,636,505 | 51,569,381 | 45,076,574 | 2,586,535 |
Cash Flow 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| D&A | $2M | $2M | $2M | $2M | $1M | $700.0K | $271.0K | |
| Stock-based Comp | $46M | $46M | $20M | $15M | $18M | $7M | $26.0K | |
| Other Non-cash | $-5M | $-22M | $26M | $-2M | $11M | $6M | · | |
| Operating Cash Flow | $-403M | $-292M | $-188M | $-154M | $-120M | $-47M | $-12M | |
| CapEx | $2M | $2M | $729.0K | $3M | $4M | $1M | $2M | |
| Investing Cash Flow | $-29M | $-204M | $83M | $87M | $-138M | $-46M | $-2M | |
| Debt Issued | $148M | $0 | $0 | · | · | $10M | · | |
| Net Debt Issued | $148M | · | · | · | · | $10M | · | |
| Stock Issued | $141M | $98M | $52M | $37M | · | · | · | |
| Net Stock Activity | $141M | $98M | · | · | · | · | · | |
| Financing Cash Flow | $890M | $810M | $54M | $37M | $158M | $381M | $20M | |
| Net Change in Cash | $458M | $313M | $-51M | $-29M | $-100M | $289M | $7M | |
| Free Cash Flow | $-405M | $-295M | $-189M | $-157M | $-123M | $-48M | · |
Profitability 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| ROA | -47.5% | -74.1% | -100.1% | -45.9% | -38.3% | -32.1% | · | |
| ROE | -57.8% | -47.5% | -193.9% | -67.0% | -38.2% | -16.8% | · |
Liquidity & Solvency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 22.3 | 15.6 | 2.5 | 9.5 | 13.3 | 31.8 | · | |
| Quick Ratio | 17.6 | 10.3 | 2.4 | 6.1 | 7.0 | 27.4 | · |
Valuation (TTM) 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Net Income TTM | $-446M | $-317M | $-236M | $-168M | $-149M | $-59M | · | |
| Market Cap | $3.23B | $2.41B | $818M | $645M | $613M | $947M | · | |
| P/E | -5.6 | -7.0 | -3.4 | -3.6 | -4.1 | · | · | |
| P/B | 3.3 | 3.8 | 9.0 | 2.6 | 1.7 | 2.8 | · | |
| P / Tangible Book | 3.3 | 3.8 | 9.0 | 2.6 | 1.7 | 2.8 | · | |
| P / Cash Flow | -8.0 | -8.2 | -4.3 | -4.2 | -5.1 | -20.4 | · | |
| P / FCF | -8.0 | -8.2 | -4.3 | -4.1 | -5.0 | -19.9 | · | |
| Earnings Yield | -17.7% | -14.3% | -29.7% | -27.9% | -24.6% | · | · |
Income Statement 10
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| R&D Expense | $152M | $101M | $95M | $97M | $99M | $106M | $82M | $93M | $62M | $45M | $55M | $59M | $38M | $35M | $47M | $28M | |
| SG&A Expense | $29M | $24M | $21M | $17M | $17M | $16M | $15M | $13M | $10M | $25M | $7M | $8M | $8M | $8M | $6M | $8M | |
| Operating Expenses | $182M | $125M | $116M | $114M | $116M | $122M | $97M | $106M | $72M | $69M | $62M | $67M | $45M | $42M | $53M | $36M | |
| Operating Income | $-182M | $-125M | $-116M | $-114M | $-116M | $-122M | $-97M | $-106M | $-72M | $-69M | $-62M | $-67M | $-45M | $-42M | $-53M | $-36M | |
| Interest Expense | · | · | · | $3M | $94.0K | · | · | $0 | · | · | · | · | · | · | · | · | |
| Other Non-op | $3M | $4M | $4M | $6M | $5M | $7M | $8M | $9M | $7M | $4M | $2M | $2M | $1M | $894.0K | $451.0K | $200.0K | |
| Net Income | $-179M | $-121M | $-112M | $-108M | $-111M | $-115M | $-90M | $-97M | $-65M | $-66M | $-60M | $-65M | $-44M | $-41M | $-52M | $-36M | |
| EPS (Basic) | $-1.08 | $-0.73 | $-0.69 | $-0.76 | $-0.97 | $-1.05 | $-0.90 | $-0.96 | $-0.70 | $-0.81 | $-0.99 | $-1.08 | $-0.78 | $-0.80 | $-1.01 | $-0.69 | |
| EPS (Diluted) | $-1.08 | $-0.73 | $-0.69 | $-0.76 | $-0.97 | $-1.05 | $-0.90 | $-0.96 | $-0.70 | $-0.81 | $-0.99 | $-1.08 | $-0.78 | $-0.80 | $-1.01 | $-0.69 | |
| EBITDA | $-181M | $-125M | · | $-113M | $-115M | $-122M | · | $-105M | $-72M | $-69M | $-62M | $-66M | $-45M | $-42M | $-52M | $-35M |
Balance Sheet 19
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $676M | $753M | $893M | $574M | $485M | $472M | $435M | $532M | $608M | $272M | $130M | $168M | $181M | $145M | $136M | $148M | |
| Prepaid Expense | $39M | $49M | $16M | $14M | $14M | $12M | $17M | $13M | $13M | $35M | $10M | $5M | $11M | $10M | $6M | $21M | |
| Current Assets | $938M | $1.02B | $1.13B | $806M | $698M | $690M | $659M | $736M | $792M | $488M | $168M | $213M | $249M | $258M | $298M | $344M | |
| PP&E (Net) | $25M | $24M | $24M | $24M | $6M | $6M | $5M | $5M | $5M | $5M | $5M | $5M | $6M | $6M | $5M | $6M | |
| PP&E (Gross) | $34M | $33M | $33M | $32M | $13M | $13M | $12M | $11M | $11M | $10M | $10M | $10M | $10M | $9M | $8M | $8M | |
| Accum. Depreciation | $10M | $9M | $9M | $8M | $8M | $7M | $7M | $7M | $6M | $6M | $5M | $4M | $4M | $3M | $3M | $2M | |
| Total Assets | $994M | $1.08B | $1.19B | $867M | $729M | $721M | $691M | $769M | $826M | $522M | $205M | $251M | $289M | $300M | $340M | $388M | |
| Accounts Payable | $12M | $11M | $8M | $12M | $14M | $7M | $7M | $6M | $2M | $7M | $4M | $3M | $9M | $919.0K | $7M | $5M | |
| Current Liabilities | $78M | $51M | $51M | $60M | $41M | $34M | $42M | $43M | $30M | $22M | $30M | $20M | $22M | $23M | $26M | $23M | |
| Capital Leases | $15M | $14M | $15M | $16M | $17M | $18M | $19M | $20M | $21M | $22M | $24M | $24M | $25M | $27M | $27M | $28M | |
| Total Liabilities | $292M | $215M | $215M | $175M | $158M | $52M | $61M | $63M | $51M | $44M | $53M | $45M | $47M | $50M | $53M | $51M | |
| Long-term Debt | $199M | $149M | $149M | $99M | $99M | · | $0 | · | · | · | · | · | · | · | · | · | |
| Common Stock | $16.0K | $16.0K | $16.0K | $14.0K | $11.0K | $11.0K | $10.0K | $10.0K | $10.0K | $9.0K | $6.0K | $6.0K | $6.0K | $6.0K | $6.0K | $6.0K | |
| Paid-in Capital | $2.40B | $2.38B | $2.37B | $1.98B | $1.75B | $1.73B | $1.58B | $1.57B | $1.54B | $1.18B | $718M | $713M | $683M | $608M | $605M | $601M | |
| Retained Earnings | $-1.70B | $-1.52B | $-1.40B | $-1.28B | $-1.18B | $-1.07B | $-950M | $-860M | $-763M | $-698M | $-566M | $-506M | $-441M | $-358M | $-316M | $-264M | |
| AOCI | $-353.0K | $-137.0K | $475.0K | $496.0K | $252.0K | $241.0K | $6.0K | $478.0K | $-240.0K | $-132.0K | $-13.0K | $-56.0K | $-203.0K | $-983.0K | $-1M | $-930.0K | |
| Stockholders' Equity | $702M | $865M | $972M | $692M | $571M | $669M | $630M | $706M | $775M | $478M | $152M | $207M | $242M | $250M | $287M | $336M | |
| Liabilities + Equity | $994M | $1.08B | $1.19B | $867M | $729M | $721M | $691M | $769M | $826M | $522M | $205M | $251M | $289M | $300M | $340M | $388M | |
| Shares Outstanding | 165,670,880 | 165,201,329 | 164,950,540 | 142,613,248 | 114,338,610 | 113,633,782 | 102,318,629 | 101,753,378 | 100,119,518 | 87,089,649 | 61,322,283 | 61,013,986 | 58,305,480 | 51,906,773 | 51,734,361 | 51,649,423 |
Cash Flow 12
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $600.0K | $550.0K | $547.0K | $500.0K | $500.0K | $502.0K | $487.0K | $400.0K | $400.0K | $386.0K | $400.0K | $400.0K | $412.0K | $400.0K | $500.0K | $425.0K | |
| Stock-based Comp | $15M | $13M | $11M | $11M | $11M | $13M | $10M | $9M | $7M | $20M | $5M | $5M | $5M | $4M | $3M | $4M | |
| Other Non-cash | · | $-38M | · | · | · | $-4M | · | · | · | $-33M | · | · | $-8M | · | · | $-20M | |
| Operating Cash Flow | $-130M | $-145M | $-112M | $-91M | $-95M | $-106M | $-84M | $-75M | $-55M | $-79M | $-51M | $-56M | $-47M | $-43M | $-31M | $-51M | |
| CapEx | $2M | $221.0K | $484.0K | $395.0K | $60.0K | $981.0K | $1M | $253.0K | $857.0K | $191.0K | $167.0K | $250.0K | $230.0K | $886.0K | $261.0K | $1M | |
| Investing Cash Flow | $-5M | $-2M | $982.0K | $-38M | $7M | $1M | $-16M | $-19M | $11M | $-180M | $13M | $17M | $27M | $52M | $18M | $-2M | |
| Debt Issued | · | · | $49M | $0 | · | · | $0 | $0 | · | · | · | · | · | · | · | · | |
| Stock Issued | $0 | $0 | $0 | $0 | $0 | $141M | $0 | $0 | $24M | $74M | $0 | $24M | $28M | · | · | · | |
| Net Stock Activity | · | $0 | · | · | · | $141M | · | · | · | $74M | · | · | · | · | · | · | |
| Financing Cash Flow | $58M | $7M | $431M | $217M | $101M | $141M | $4M | $18M | $380M | $408M | $454.0K | $25M | $29M | $70.0K | $99.0K | $18.0K | |
| Net Change in Cash | $-77M | $-140M | $320M | $89M | $13M | $37M | $-97M | $-76M | $336M | $150M | $-37M | $-14M | $9M | $9M | $-12M | $-53M | |
| Free Cash Flow | · | $-145M | · | · | · | $-107M | · | · | · | $-79M | · | · | $-47M | · | · | $-52M |
Profitability 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROA | -20.7% | -13.4% | · | -13.2% | -14.3% | -18.6% | · | -19.9% | -12.1% | -16.2% | -23.8% | -21.9% | -13.1% | -10.8% | -13.0% | -8.1% | |
| ROE | -28.0% | -15.8% | · | -15.5% | -16.5% | -20.1% | · | -22.7% | -13.3% | -18.2% | -30.0% | -26.3% | -15.3% | -12.5% | -14.1% | -8.7% |
Liquidity & Solvency 3
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 12.0 | 19.9 | · | 13.5 | 16.8 | 20.4 | · | 17.0 | 26.6 | 21.8 | 5.7 | 10.5 | 11.5 | 11.1 | 11.6 | 14.8 | |
| Quick Ratio | 8.7 | 14.7 | · | 9.6 | 11.7 | 13.9 | · | 12.3 | 20.4 | 12.2 | 4.4 | 8.3 | 8.4 | 6.2 | 5.3 | 6.4 | |
| Interest Coverage | · | · | · | -39.2 | -1231.8 | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 8
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income TTM | $-518M | $-455M | · | $-431M | $-388M | $-343M | · | $-288M | $-256M | $-235M | $-211M | $-203M | $-173M | $-172M | $-160M | $-133M | |
| Market Cap | $3.68B | $3.00B | · | $1.80B | $1.09B | $1.19B | · | $3.65B | $3.53B | $2.47B | $549M | $686M | $672M | $659M | $355M | $498M | |
| P/E | -6.3 | -5.2 | · | -3.4 | -2.6 | -3.0 | · | -10.4 | -9.9 | -7.8 | -2.5 | -3.1 | -3.5 | -3.8 | -2.2 | · | |
| P/B | 5.2 | 3.5 | · | 2.6 | 1.9 | 1.8 | · | 5.2 | 4.6 | 5.2 | 3.6 | 3.3 | 2.8 | 2.6 | 1.2 | 1.5 | |
| P / Tangible Book | 5.2 | 3.5 | · | 2.6 | 1.9 | 1.8 | · | 5.2 | 4.6 | 5.2 | 3.6 | 3.3 | 2.8 | 2.6 | 1.2 | 1.5 | |
| P / Cash Flow | · | -20.7 | · | · | · | -11.2 | · | · | · | -31.5 | · | · | -14.3 | · | · | -9.8 | |
| P / FCF | · | -20.6 | · | · | · | -11.1 | · | · | · | -31.4 | · | · | -14.2 | · | · | -9.5 | |
| Earnings Yield | -15.9% | -19.4% | · | -29.6% | -38.7% | -33.7% | · | -9.6% | -10.1% | -12.9% | -40.7% | -32.6% | -28.5% | -26.2% | -45.3% | · |
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 | |
|---|---|---|---|---|---|
| Net Income | $-446M | $-317M | $-236M | $-168M | $-149M |
| Diluted EPS | $-3.47 | $-3.37 | $-3.95 | $-3.23 | $-2.93 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 22.3 | 15.6 | 2.5 | 9.5 | 13.3 |
| Quick Ratio | 17.6 | 10.3 | 2.4 | 6.1 | 7.0 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-405M | $-295M | $-189M | $-157M | $-123M |
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Institutional owners (13F) 262 filers · $2.5B 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 |
|---|---|---|---|---|
| 54 (+12 vs prior Q) | 27 (-14 vs prior Q) | 87 (-11 vs prior Q) | 70 (+7 vs prior Q) | +3.8M |
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 |
|---|---|---|---|---|
| STATE STREET CORP | $165,648,021 | 7,458,263 | 6.74% | Shares |
| FMR LLC | $160,201,907 | 7,213,053 | 6.52% | Shares |
| Orbis Allan Gray Ltd | $155,111,575 | 6,983,862 | 6.31% | Shares |
| Atlas Venture Life Science Advisors, LLC | $151,030,199 | 6,800,099 | 6.14% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $140,166,621 | 6,310,969 | 5.70% | Shares |
| TCG Crossover Management, LLC | $102,502,348 | 4,615,144 | 4.17% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $89,915,586 | 4,048,428 | 3.66% | Shares |
| Vestal Point Capital, LP | $74,958,750 | 3,375,000 | 3.05% | Shares |
| ORBIMED ADVISORS LLC | $71,864,542 | 3,235,684 | 2.92% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $71,309,878 | 3,209,934 | 2.90% | Shares |
| Frazier Life Sciences Management, L.P. | $70,029,951 | 3,153,082 | 2.85% | Shares |
| ARMISTICE CAPITAL, LLC | $68,567,289 | 3,087,226 | 2.79% | Shares |
| PERCEPTIVE ADVISORS LLC | $59,727,909 | 2,689,235 | 2.43% | Shares |
| Logos Global Management LP | $56,635,500 | 2,550,000 | 2.30% | Shares |
| Venrock Adviser, LLC | $48,282,608 | 2,173,913 | 1.96% | Shares |
| Siren, L.L.C. | $47,287,866 | 2,129,125 | 1.92% | Shares |
| MPM BIOIMPACT LLC | $42,689,686 | 1,922,093 | 1.74% | Shares |
| GOLDMAN SACHS GROUP INC | $41,625,071 | 1,874,159 | 1.69% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $40,865,556 | 1,839,962 | 1.66% | Shares |
| Sofinnova Investments, Inc. | $36,832,709 | 1,658,384 | 1.50% | Shares |
| Palo Alto Investors LP | $36,591,441 | 1,647,521 | 1.49% | Shares |
| Vivo Capital, LLC | $34,591,320 | 1,557,466 | 1.41% | Shares |
| Aberdeen Group plc | $34,190,829 | 1,539,434 | 1.39% | Shares |
| Deep Track Capital, LP | $33,315,000 | 1,500,000 | 1.35% | Shares |
| BANK OF AMERICA CORP /DE/ | $31,725,719 | 1,428,443 | 1.29% | Shares |
| FCPM III SERVICES B.V. | $31,679,678 | 1,426,370 | 1.29% | Shares |
| Polar Capital Holdings Plc | $28,580,072 | 1,286,811 | 1.16% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $26,700,929 | 1,202,203 | 1.09% | Shares |
| CITADEL ADVISORS LLC | $25,407,307 | 1,143,958 | 1.03% | Shares |
| Saturn V Capital Management LP | $23,486,920 | 1,057,493 | 0.96% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $21,964,557 | 988,949 | 0.89% | Shares |
| NOVO HOLDINGS A/S | $21,330,351 | 960,394 | 0.87% | Shares |
| Rock Springs Capital Management LP | $20,925,240 | 942,154 | 0.85% | Shares |
| BRAIDWELL LP | $20,468,692 | 921,598 | 0.83% | Shares |
| FRONTIER CAPITAL MANAGEMENT CO LLC | $19,414,605 | 874,138 | 0.79% | Shares |
| BAKER BROS. ADVISORS LP | $18,066,702 | 813,449 | 0.73% | Shares |
| SAMLYN CAPITAL, LLC | $14,875,658 | 669,773 | 0.60% | Shares |
| Artisan Partners Limited Partnership | $14,653,847 | 659,786 | 0.60% | Shares |
| TD Asset Management Inc | $12,173,568 | 548,112 | 0.50% | Shares |
| ALGERT GLOBAL LLC | $11,244,323 | 506,273 | 0.46% | Shares |
| MILLENNIUM MANAGEMENT LLC | $9,591,389 | 431,850 | 0.39% | Shares |
| Clearbridge Investments, LLC | $9,220,070 | 415,131 | 0.37% | Shares |
| ArrowMark Colorado Holdings LLC | $8,822,278 | 397,221 | 0.36% | Shares |
| MPM ASSET MANAGEMENT LLC | $8,632,056 | 682,376 | 0.35% | Shares |
| WASATCH ADVISORS LP | $8,043,701 | 443,668 | 0.33% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $8,008,304 | 360,572 | 0.33% | Shares |
| Tetragon Partners GP Ltd | $7,921,352 | 356,657 | 0.32% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $7,905,716 | 355,953 | 0.32% | Shares |
| Granahan Investment Management, LLC | $7,519,529 | 338,565 | 0.31% | Shares |
| University of Wisconsin Foundation | $6,964,146 | 313,559 | 0.28% | Shares |
| MOORE CAPITAL MANAGEMENT, LP | $6,791,685 | 305,794 | 0.28% | Shares |
| Squarepoint Ops LLC | $6,664,644 | 300,074 | 0.27% | Shares |
| Fisher Asset Management, LLC | $6,629,795 | 298,505 | 0.27% | Shares |
| AMERIPRISE FINANCIAL INC | $6,625,622 | 298,317 | 0.27% | Shares |
| RAYMOND JAMES FINANCIAL INC | $6,468,951 | 291,263 | 0.26% | Shares |
| Ensign Peak Advisors, Inc | $6,434,903 | 289,730 | 0.26% | Shares |
| Alyeska Investment Group, L.P. | $5,447,624 | 245,278 | 0.22% | Shares |
| Catalio Capital Management, LP | $5,439,873 | 244,929 | 0.22% | Shares |
| Swiss National Bank | $5,152,720 | 232,000 | 0.21% | Shares |
| SPHERA FUNDS MANAGEMENT LTD. | $4,432,983 | 199,594 | 0.18% | Shares |
| SummitTX Capital, L.P. | $4,323,021 | 194,643 | 0.18% | Shares |
| RHUMBLINE ADVISERS | $4,082,158 | 183,799 | 0.17% | Shares |
| CITIGROUP INC | $3,998,733 | 180,042 | 0.16% | Shares |
| HighVista Strategies LLC | $3,819,254 | 171,961 | 0.16% | Shares |
| ALPS ADVISORS INC | $3,710,891 | 167,082 | 0.15% | Shares |
| Y-Intercept (Hong Kong) Ltd | $3,469,269 | 156,203 | 0.14% | Shares |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $3,467,781 | 156,136 | 0.14% | Shares |
| AXXCESS WEALTH MANAGEMENT, LLC | $3,448,547 | 155,270 | 0.14% | Shares |
| Darwin Wealth Management, LLC | $3,448,546 | 155,270 | 0.14% | Shares |
| Aegis Wealth Management LLC | $3,332,166 | 150,030 | 0.14% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $3,331,500 | 150,000 | 0.14% | Shares |
| Woodline Partners LP | $3,317,907 | 149,388 | 0.13% | Shares |
| BlackRock, Inc. | $3,223,182 | 145,123 | 0.13% | Shares |
| Bank of New York Mellon Corp | $3,129,789 | 140,918 | 0.13% | Shares |
| ALLIANCEBERNSTEIN L.P. | $3,119,810 | 172,080 | 0.13% | Shares |
| Schonfeld Strategic Advisors LLC | $2,992,841 | 134,752 | 0.12% | Shares |
| XTX Topco Ltd | $2,793,707 | 125,786 | 0.11% | Shares |
| Jain Global LLC | $2,583,934 | 116,341 | 0.11% | Shares |
| Rafferty Asset Management, LLC | $2,556,415 | 115,102 | 0.10% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $2,532,090 | 139,663 | 0.10% | Shares |
| MORGAN STANLEY | $2,460,571 | 110,786 | 0.10% | Shares |
| AXA Investment Managers S.A. | $2,064,872 | 163,231 | 0.08% | Shares |
| FIDEURAM - INTESA SANPAOLO PRIVATE BANKING S.P.A. | $1,933,798 | 87,069 | 0.08% | Shares |
| JANUS HENDERSON GROUP PLC | $1,810,516 | 99,863 | 0.07% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $1,804,296 | 81,238 | 0.07% | Shares |
| MetLife Investment Management, LLC | $1,771,803 | 79,775 | 0.07% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $1,746,195 | 78,622 | 0.07% | Shares |
| FIFTH THIRD BANCORP | $1,684,826 | 75,859 | 0.07% | Shares |
| CIBC WORLD MARKET INC. | $1,683,140 | 75,783 | 0.07% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $1,548,081 | 69,702 | 0.06% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $1,478,808 | 66,583 | 0.06% | Shares |
| VANGUARD GROUP INC | $1,433,904 | 73,308 | 0.06% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $1,395,321 | 62,824 | 0.06% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,390,346 | 62,600 | 0.06% | Put option |
| JANE STREET GROUP, LLC | $1,377,020 | 62,000 | 0.06% | Put option |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $1,309,213 | 58,947 | 0.05% | Shares |
| PROFUND ADVISORS LLC | $1,306,170 | 58,810 | 0.05% | Shares |
| Invesco Ltd. | $1,212,555 | 54,595 | 0.05% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $1,210,400 | 54,498 | 0.05% | Shares |
| Vanguard Global Advisers, LLC | $1,202,383 | 54,137 | 0.05% | Shares |
Company insiders 26 insiders · 7 officers · 10 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Joshua T Brumm | CEO & President | March 11, 2024 M | 537,998 | 0 | 0 | $0 |
| Susanna Gatti High | Chief Operating Officer | Sept. 18, 2024 S | 131,636 | 0 | 0 | $0 |
| Oxana Beskrovnaya | Chief Scientific Officer | March 11, 2025 S | 195,840 | 0 | 0 | $0 |
| Richard William Scalzo | SVP, Head of Finance & Admin. | March 11, 2025 S | 122,330 | 0 | 0 | $0 |
| Wildon Farwell | Chief Medical Officer | Aug. 19, 2024 S | 143,222 | 0 | 0 | $0 |
| Jonathan Mcneill | Chief Business Officer | Aug. 19, 2024 S | 132,106 | 0 | 0 | $0 |
| Romesh Subramanian | Chief Scientific Officer | Sept. 16, 2020 A | 566,249 | 0 | 0 | $0 |
| Dirk Kersten | Director | July 27, 2026 S | 3,586,796 | 0 | 19 | $-38,570,974 |
| Barry E Greene | Director | June 22, 2026 A | — | 0 | 0 | $0 |
| Carlo Incerti | Director | June 5, 2026 A | 0 | 0 | 0 | $0 |
| Catherine Stehman-Breen | Director | June 5, 2026 A | 115,713 | 0 | 0 | $0 |
| David Charles Lubner | Director | June 5, 2026 A | 0 | 0 | 0 | $0 |
| Brian S Posner | Director | June 5, 2026 A | 24,500 | 7 | 0 | $274,840 |
| Edward Hurwitz | Director | June 5, 2026 A | 91,081 | 0 | 0 | $0 |
| Vikram Karnani | Director | Dec. 22, 2025 A | — | 0 | 0 | $0 |
| Lawrence Otto Klein | Director | July 5, 2022 A | 10,725 | 0 | 0 | $0 |
| Atlas Venture Fund XI, L.P. | 10% owner | July 13, 2021 J | 7,326,117 | 0 | 0 | $0 |
| CureDuchenne Ventures, LLC | 10% owner | Sept. 21, 2020 C | 602,972 | 0 | 0 | $0 |
| Forbion Capital Fund IV Cooperatief U.A. | 10% owner | Sept. 21, 2020 C | 6,131,079 | 0 | 0 | $0 |
| Logos Global Management LP | 10% owner | Sept. 21, 2020 C | 1,504,392 | 0 | 0 | $0 |
| Wellington Biomedical Innovation Master Investors (Cayman) I L.P. | 10% owner | Sept. 21, 2020 C | 1,608,785 | 0 | 0 | $0 |
| Jason P Rhodes | — | Aug. 14, 2026 S | 428,946 | 0 | 31 | $-99,402,433 |
| Johanna Friedl-Naderer | — | Aug. 13, 2026 S | 153,982 | 0 | 7 | $-31,766 |
| Douglas Kerr | — | Aug. 13, 2026 S | 167,599 | 0 | 7 | $-176,412 |
| Erick Lucera | — | Aug. 13, 2026 S | 119,766 | 0 | 4 | $-228,675 |
| John Cox | — | Aug. 13, 2026 S | 363,165 | 0 | 5 | $-336,865 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 1 position
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 |
|---|---|---|---|---|---|
| Vida Ventures II, LLC, Vida Ventures II-A, LLC, VV Manager II, LLC ×2 filings | Feb. 10, 2023 | — | 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 52 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 |
|---|---|---|---|---|
| BBC · ETFis Series Trust I | 0.67% | 14,322 NS | April 30, 2026 | N-PORT |
| JDOC · J.P. Morgan Exchange-Traded Fund Tr… | 0.67% | 4,266 NS | April 30, 2026 | N-PORT |
| LABU · Direxion Shares ETF Trust | 0.67% | 196,941 NS | April 30, 2026 | N-PORT |
| ESSC · Strategy Shares | 0.18% | 2,581 NS | April 30, 2026 | N-PORT |
| BIB · ProShares Trust | 0.16% | 6,087 NS | May 31, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.12% | 51,630 NS | April 30, 2026 | N-PORT |
| BKSE · BNY Mellon ETF Trust | 0.10% | 4,423 NS | April 30, 2026 | N-PORT |
| RSSL · Global X Funds | 0.07% | 57,752 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.06% | 6,271 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.06% | 688,953 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.05% | 390,218 NS | April 30, 2026 | N-PORT |
| UWM · ProShares Trust | 0.04% | 4,905 NS | May 31, 2026 | N-PORT |
| FHLC · FIDELITY COVINGTON TRUST | 0.03% | 53,716 NS | April 30, 2026 | N-PORT |
| URTY · ProShares Trust | 0.03% | 4,964 NS | May 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.02% | 25,564 NS | April 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.01% | 4,701 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.01% | 125 NS | May 31, 2026 | N-PORT |
| ONEQ · Fidelity Commonwealth Trust | 0.01% | 44,010 NS | May 31, 2026 | N-PORT |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.01% | 11,272 NS | May 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.01% | 9,076 NS | April 30, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 123,282 NS | April 30, 2026 | N-PORT |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 84,436 NS | May 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 21,333 NS | April 30, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.00% | 720 NS | April 30, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 33,452 NS | April 30, 2026 | N-PORT |
| AVUS · AMERICAN CENTURY ETF TRUST | 0.00% | 5,252 NS | May 31, 2026 | N-PORT |
| FTLS · First Trust Exchange-Traded Fund III | -0.03% | -43,244 NS | April 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VBR · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VFMO · VANGUARD WELLINGTON FUND | — | — | July 30, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| ITOT · iShares Trust | — | — | Aug. 5, 2026 | Daily |
| IWV · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| IWN · iShares Trust | — | — | Aug. 17, 2026 | Daily |
| IWO · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| IWM · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| IBB · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | — | — | July 23, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | — | — | July 20, 2026 | Daily |
| ISCB · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| ISCG · iShares Trust | — | — | Aug. 6, 2026 | Daily |
| ISCV · iShares Trust | — | — | Aug. 5, 2026 | Daily |
| SMLF · iShares Trust | — | — | Aug. 10, 2026 | Daily |
| ESML · iShares Trust | — | — | Aug. 14, 2026 | Daily |
| IBRN · iShares Trust | — | — | Aug. 6, 2026 | Daily |