GLUE Monte Rosa Therapeutics, Inc. - Common Stock
$15.93
Price · Aug 19, 2026
Fundamentals as of Aug 6, 2026
52W Range
$4–$26
54% of range
Analyst Rating
BUY
15 analysts
Price Target
$28
+79% upside
P/E (TTM)
—
ROE
-15.4%
Net Profit Margin
-31.2%
GLUE Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$15.93
Market Cap
$1.04B
P/E (TTM)
—
EPS (TTM)
—
Revenue (TTM)
$124M
Div Yield
0.00%
ROE
-15.4%
Debt/Equity
—
52W Range
$4 – $26
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$124M
2023-12-31
→
2025-12-31
EPS
—
Free Cash Flow
$-27M
2021-12-31
→
2025-12-31
Margins
-31.2%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
GLUE
Peer Median
P/S (TTM)
8.4
30.7
P/B
4.5
3.6
Price / FCF
-38.0
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
GLUE
Peer Median
Operating Margin
-43.8%
—
Net Profit Margin
-31.2%
-638.9%
ROA
-8.7%
-40.9%
ROE
-15.4%
-47.9%
ROIC
-22.6%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
GLUE
Peer Median
Current Ratio
6.1
8.3
Quick Ratio
2.0
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
GLUE
Peer Median
Revenue YoY
63.5%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
GLUE
Peer Median
Payout Ratio
0.00%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
0.00%
Payout Ratio
0.00%
5Y Div CAGR
—
GLUE Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
15 analysts
- Strong Buy 5 33.3%
- Buy 9 60.0%
- Hold 1 6.7%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
6 analysts · 2026-08-13
Median
$27.00
Mean
$28.50
← Below all targets
$15.93
Low
$25.00
High
$37.00
Median target
$27.00
+69.5%
Mean target
$28.50
+78.9%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.16%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.43 | $-0.39 | -0.04% |
| March 31, 2026 | $-0.45 | $-0.39 | -0.06% |
| Dec. 31, 2025 | $-0.56 | $-0.36 | -0.20% |
| Sept. 30, 2025 | $-0.33 | $-0.38 | 0.05% |
| June 30, 2025 | $-0.15 | $-0.39 | 0.24% |
| March 31, 2025 | $0.56 | $-0.34 | 0.90% |
| Dec. 31, 2024 | $0.23 | $-0.02 | 0.25% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| GLUE | $1.03B | — | 63.5% | -31.2% | -15.4% | — |
| ORIC | $806M | -5.6 | — | — | -36.5% | — |
| AKTS | — | — | — | — | — | — |
| CGEM | $624M | -3.2 | — | — | -44.0% | — |
| NVAX | $1.09B | 2.6 | 64.7% | 39.2% | -977.1% | — |
| INBX | $1.15B | -8.7 | 550.0% | -10773.5% | -365.9% | — |
| MGTX | $645M | -5.6 | 144.6% | -140.3% | 8062.2% | — |
| CRVS | $575M | -14.5 | — | — | -21.6% | — |
| MNKD | $1.75B | 283.5 | 22.2% | 1.7% | -11.1% | — |
| REPL | $633M | -2.3 | — | — | -146.2% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 12
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Revenue | $124M | $76M | $0 | |
| R&D Expense | $142M | $122M | $111M | |
| SG&A Expense | $36M | $35M | $32M | |
| Operating Expenses | $178M | $157M | $143M | |
| Operating Income | $-54M | $-81M | $-143M | |
| Other Non-op | $14M | $11M | $8M | |
| Pretax Income | $-40M | $-70M | $-135M | |
| Income Tax | $-1M | $3M | $338.0K | |
| Net Income | $-39M | $-73M | $-135M | |
| Shares (Basic) | 83,071,185 | 73,910,026 | 51,396,961 | |
| Shares (Diluted) | 83,071,185 | 73,910,026 | 51,396,961 | |
| EBITDA | $-54M | $-81M | $-143M |
Balance Sheet 19
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Cash & Equivalents | $130M | $224M | $128M | |
| Prepaid Expense | $4M | $5M | $3M | |
| Current Assets | $393M | $377M | $236M | |
| PP&E (Net) | $26M | $29M | $34M | |
| PP&E (Gross) | $54M | $50M | $46M | |
| Accum. Depreciation | $28M | $20M | $12M | |
| Other Non-current Assets | $148.0K | $115.0K | $352.0K | |
| Total Assets | $449M | $439M | $304M | |
| Accounts Payable | $4M | $17M | $11M | |
| Accrued Liabilities | $27M | $19M | · | |
| Current Liabilities | $64M | $157M | $47M | |
| Capital Leases | $35M | $39M | $43M | |
| Total Liabilities | $216M | $216M | $125M | |
| Common Stock | $7.0K | $6.0K | $5.0K | |
| Retained Earnings | $-477M | $-439M | $-366M | |
| AOCI | $-4M | $-3M | $-3M | |
| Stockholders' Equity | $233M | $223M | $179M | |
| Liabilities + Equity | $449M | $439M | $304M | |
| Shares Outstanding | 65,543,723 | 61,507,446 | 50,140,233 |
Cash Flow 12
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Stock-based Comp | $19M | $18M | $17M | |
| Amort. of Intangibles | $2M | $2M | $2M | |
| Operating Cash Flow | $-23M | $42M | $-44M | |
| CapEx | $5M | $4M | $19M | |
| Investing Cash Flow | $-102M | $-44M | $89M | |
| Stock Issued | · | · | $0 | |
| Net Stock Activity | · | · | $0 | |
| Dividends Paid | $0 | $0 | $0 | |
| Financing Cash Flow | $30M | $99M | $27M | |
| Net Change in Cash | $-94M | $96M | $72M | |
| Taxes Paid | $5M | $3M | · | |
| Free Cash Flow | $-27M | $38M | $-63M |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Operating Margin | -43.8% | -107.3% | · | |
| Net Margin | -31.2% | -96.1% | · | |
| Pretax Margin | -32.1% | -92.7% | · | |
| EBITDA Margin | -43.8% | -107.3% | · | |
| ROA | -8.7% | -19.6% | -41.9% | |
| ROE | -15.4% | -33.9% | -74.4% | |
| ROIC | -22.6% | -37.7% | -80.2% |
Liquidity & Solvency 2
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Current Ratio | 6.1 | 2.4 | 5.1 | |
| Quick Ratio | 2.0 | 1.4 | 2.7 |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.2 | · |
Growth Rates 1
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Revenue YoY | 63.5% | · | · |
Valuation (TTM) 11
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Revenue TTM | $124M | $76M | $0 | |
| Net Income TTM | $-39M | $-73M | $-135M | |
| Market Cap | $1.03B | $427M | $283M | |
| P/S | 8.3 | 5.6 | · | |
| P/B | 4.4 | 1.9 | 1.6 | |
| P / Tangible Book | 4.4 | 1.9 | 1.6 | |
| P / Cash Flow | -45.1 | 10.2 | -6.5 | |
| P / FCF | -37.4 | 11.2 | -4.5 | |
| Dividend Yield | 0.00% | 0.00% | 0.00% | |
| Payout Ratio | 0.00% | 0.00% | 0.00% | |
| Annual Payout | $0 | $0 | $0 |
Income Statement 12
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9M | $4M | $3M | $13M | $23M | $85M | $61M | $9M | $5M | $1M | $0 | $0 | $0 | $0 | |
| R&D Expense | $48M | $44M | $42M | $37M | $31M | $32M | $39M | $28M | $28M | $27M | $27M | $28M | $29M | $27M | |
| SG&A Expense | $10M | $10M | $11M | $9M | $8M | $9M | $9M | $8M | $9M | $9M | $8M | $9M | $8M | $8M | |
| Operating Expenses | $58M | $54M | $52M | $46M | $39M | $41M | $48M | $36M | $37M | $36M | $35M | $37M | $37M | $34M | |
| Operating Income | $-49M | $-50M | $-50M | $-33M | $-16M | $44M | $13M | $-27M | $-33M | $-35M | $-35M | $-37M | $-37M | $-34M | |
| Other Non-op | $6M | $6M | $4M | $3M | $4M | $4M | $3M | $3M | $3M | $3M | $2M | $2M | $2M | $2M | |
| Pretax Income | $-43M | $-44M | $-46M | $-30M | $-11M | $48M | $16M | $-24M | $-30M | $-32M | $-33M | $-35M | $-35M | $-32M | |
| Income Tax | $208.0K | $52.0K | $59.0K | $-3M | $1M | $822.0K | $2M | $71.0K | $252.0K | $83.0K | $-22.0K | $170.0K | $190.0K | $0 | |
| Net Income | $-43M | $-45M | $-46M | $-27M | $-12M | $47M | $13M | $-24M | $-30M | $-32M | $-33M | $-35M | $-35M | $-32M | |
| Shares (Basic) | 101,478,945 | 99,883,878 | -163,662,055 | 82,397,753 | 82,186,768 | 82,148,719 | -139,491,823 | 82,011,670 | 71,233,992 | 60,156,187 | -97,197,337 | 49,814,903 | 49,431,922 | 49,347,473 | |
| Shares (Diluted) | 101,478,945 | 99,883,878 | -164,469,759 | 82,397,753 | 82,186,768 | 82,956,423 | -139,491,823 | 82,011,670 | 71,233,992 | 60,156,187 | -97,197,337 | 49,814,903 | 49,431,922 | 49,347,473 | |
| EBITDA | $-49M | $-50M | · | $-33M | $-16M | $44M | · | $-27M | $-33M | $-35M | · | $-37M | $-37M | $-34M |
Balance Sheet 20
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $90M | $160M | $130M | $208M | $69M | $79M | $224M | $126M | $109M | $100M | $128M | $59M | $47M | $52M | |
| Receivables | · | · | · | · | · | · | · | · | $9M | · | · | · | · | · | |
| Prepaid Expense | $5M | $7M | $4M | $6M | $7M | $5M | $5M | $8M | $6M | $6M | $3M | $4M | $4M | $6M | |
| Current Assets | $631M | $678M | $393M | $402M | $299M | $332M | $377M | $251M | $278M | $199M | $236M | $183M | $208M | $241M | |
| PP&E (Net) | $30M | $28M | $26M | $28M | $29M | $29M | $29M | $31M | $33M | $34M | $34M | $35M | $35M | $33M | |
| PP&E (Gross) | $61M | $58M | $54M | $53M | $52M | $51M | $50M | $50M | $49M | $48M | $46M | $45M | $44M | $41M | |
| Accum. Depreciation | $32M | $30M | $28M | $26M | $23M | $21M | $20M | $18M | $16M | $14M | $12M | $10M | $9M | $7M | |
| Other Non-current Assets | $828.0K | $832.0K | $148.0K | $411.0K | $445.0K | $440.0K | $115.0K | $159.0K | $209.0K | $389.0K | $352.0K | $270.0K | $291.0K | $351.0K | |
| Total Assets | $691M | $736M | $449M | $460M | $360M | $393M | $439M | $315M | $344M | $267M | $304M | $252M | $279M | $309M | |
| Accounts Payable | $7M | $8M | $4M | $15M | $6M | $6M | $17M | $4M | $6M | $7M | $11M | $6M | $5M | $7M | |
| Accrued Liabilities | $26M | $26M | $27M | · | · | · | $19M | · | · | · | · | · | · | · | |
| Current Liabilities | $60M | $71M | $64M | $61M | $42M | $59M | $157M | $42M | $42M | $41M | $47M | $23M | $19M | $21M | |
| Capital Leases | $33M | $35M | $35M | $36M | $37M | $38M | $39M | $40M | $41M | $42M | $43M | $44M | $44M | $43M | |
| Total Liabilities | $204M | $215M | $216M | $214M | $92M | $118M | $216M | $110M | $119M | $114M | $125M | $68M | $65M | $65M | |
| Common Stock | $9.0K | $8.0K | $7.0K | $6.0K | $6.0K | $6.0K | $6.0K | $6.0K | $6.0K | $5.0K | $5.0K | $5.0K | $5.0K | $5.0K | |
| Retained Earnings | $-565M | $-522M | $-477M | $-431M | $-404M | $-392M | $-439M | $-452M | $-428M | $-398M | $-366M | $-333M | $-298M | $-263M | |
| AOCI | $-5M | $-5M | $-4M | $-3M | $-3M | $-3M | $-3M | $-2M | $-3M | $-3M | $-3M | $-1M | $-2M | $-1M | |
| Stockholders' Equity | $487M | $522M | $233M | $246M | $268M | $275M | $223M | $205M | $225M | $153M | $179M | $185M | $214M | $244M | |
| Liabilities + Equity | $691M | $736M | $449M | $460M | $360M | $393M | $439M | $315M | $344M | $267M | $304M | $252M | $279M | $309M | |
| Shares Outstanding | 85,226,427 | 84,321,705 | 65,543,723 | 61,790,239 | 61,717,349 | 61,509,821 | 61,507,446 | 61,377,484 | 61,328,282 | 50,200,304 | 50,140,233 | 50,065,680 | 49,592,479 | 49,360,984 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $6M | $6M | $4M | $4M | $5M | $5M | $4M | $4M | $5M | $5M | $4M | $4M | $4M | $4M | |
| Amort. of Intangibles | $708.0K | $643.0K | $648.0K | $637.0K | $615.0K | $574.0K | $511.0K | $578.0K | $211.0K | $800.0K | $100.0K | $500.0K | $700.0K | $800.0K | |
| Operating Cash Flow | $-44M | $-37M | $-43M | $100M | $-35M | $-45M | $129M | $-21M | $-28M | $-38M | $30M | $-25M | $-25M | $-23M | |
| CapEx | $5M | $2M | $767.0K | $651.0K | $2M | $2M | $183.0K | $399.0K | $2M | $1M | $2M | $2M | $7M | $9M | |
| Investing Cash Flow | $-29M | $-261M | $-65M | $38M | $25M | $-100M | $-31M | $38M | $-61M | $10M | $14M | $36M | $19M | $20M | |
| Stock Issued | · | · | · | $0 | · | · | · | $0 | · | · | · | · | · | · | |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | · | $0 | $0 | $0 | · | $0 | $0 | $0 | |
| Financing Cash Flow | $3M | $328M | $30M | $348.0K | $365.0K | $14.0K | $608.0K | $15.0K | $98M | $246.0K | $25M | $1M | $1M | $18.0K | |
| Net Change in Cash | $-70M | $30M | $-78M | $139M | $-9M | $-146M | $99M | $17M | $9M | $-28M | $69M | $12M | $-6M | $-3M | |
| Free Cash Flow | · | $-39M | · | · | · | $-47M | · | · | · | $-40M | · | · | · | $-33M |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -547.8% | -1188.5% | · | -258.3% | -67.1% | 51.8% | · | -287.8% | -695.2% | -3284.5% | · | · | · | · | |
| Net Margin | -483.9% | -1057.1% | · | -212.1% | -53.0% | 55.2% | · | -258.9% | -645.6% | -3004.5% | · | · | · | · | |
| Pretax Margin | -481.6% | -1055.8% | · | -237.0% | -47.8% | 56.2% | · | -258.1% | -640.2% | -2996.7% | · | · | · | · | |
| EBITDA Margin | -547.8% | -1188.5% | · | -258.3% | -67.1% | 51.8% | · | -287.8% | -695.2% | -3284.5% | · | · | · | · | |
| ROA | -8.3% | -7.9% | · | -7.0% | -3.5% | 14.2% | · | -8.4% | -9.7% | -11.1% | · | -11.4% | -10.9% | -9.8% | |
| ROE | -11.5% | -11.2% | · | -12.0% | -5.0% | 21.9% | · | -12.2% | -13.8% | -16.1% | · | -14.7% | -13.6% | -11.2% | |
| ROIC | -10.1% | -9.6% | · | -12.0% | -6.4% | 15.7% | · | -13.0% | -14.6% | -23.0% | · | -20.1% | -17.5% | · |
Liquidity & Solvency 2
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 10.6 | 9.5 | · | 6.5 | 7.2 | 5.6 | · | 6.0 | 6.6 | 4.8 | · | 8.1 | 10.9 | 11.7 | |
| Quick Ratio | 1.5 | 2.3 | · | 3.4 | 1.7 | 1.3 | · | 3.0 | 2.8 | 2.4 | · | 2.6 | 2.5 | 2.5 |
Efficiency 2
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.1 | 0.3 | · | 0.0 | 0.0 | 0.0 | · | · | · | · | |
| Receivables Turnover | · | · | · | · | · | · | · | · | 1.0 | · | · | · | · | · |
Valuation (TTM) 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $49M | $125M | · | $130M | $122M | $100M | · | $15M | $6M | $1M | · | · | · | · | |
| Net Income TTM | $-127M | $-37M | · | $-16M | $-20M | $-39M | · | $-121M | $-132M | $-134M | · | $-129M | $-121M | $-110M | |
| Market Cap | $2.06B | $1.39B | · | $458M | $278M | $285M | · | $325M | $229M | $354M | · | $240M | $340M | $385M | |
| P/S | 42.0 | 11.1 | · | 3.5 | 2.3 | 2.9 | · | 21.7 | 39.8 | 332.6 | · | · | · | · | |
| P/B | 4.2 | 2.7 | · | 1.9 | 1.0 | 1.0 | · | 1.6 | 1.0 | 2.3 | · | 1.3 | 1.6 | 1.6 | |
| P / Tangible Book | 4.2 | 2.7 | · | 1.9 | 1.0 | 1.0 | · | 1.6 | 1.0 | 2.3 | · | 1.3 | 1.6 | 1.6 | |
| P / Cash Flow | · | -37.1 | · | · | · | -6.3 | · | · | · | -9.3 | · | · | · | -16.4 | |
| P / FCF | · | -35.4 | · | · | · | -6.1 | · | · | · | -8.9 | · | · | · | -11.8 | |
| Payout Ratio | · | 0.00% | · | · | · | 0.00% | · | · | · | 0.00% | · | · | · | 0.00% |
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 | $124M | $76M | $0 | — | — |
| Operating Margin % | -43.8% | -107.3% | — | — | — |
| Net Income | $-39M | $-73M | $-135M | $-109M | $-74M |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 6.1 | 2.4 | 5.1 | 10.8 | 21.0 |
| Quick Ratio | 2.0 | 1.4 | 2.7 | 2.1 | 20.8 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-27M | $38M | $-63M | $-105M | $-69M |
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Institutional owners (13F) 206 filers · $1.7B 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 |
|---|---|---|---|---|
| 38 (-8 vs prior Q) | 22 (+5 vs prior Q) | 73 (-11 vs prior Q) | 61 (+20 vs prior Q) | +14.1M |
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 |
|---|---|---|---|---|
| NEA Management Company, LLC | $186,153,612 | 7,692,298 | 10.97% | Shares |
| TCG Crossover Management, LLC | $111,856,054 | 4,622,151 | 6.59% | Shares |
| Vestal Point Capital, LP | $111,320,000 | 4,600,000 | 6.56% | Shares |
| BVF INC/IL | $107,953,441 | 4,460,886 | 6.36% | Shares |
| BAKER BROS. ADVISORS LP | $105,166,811 | 4,345,736 | 6.20% | Shares |
| STATE STREET CORP | $90,300,267 | 3,731,416 | 5.32% | Shares |
| MONTANOVA CAPITAL, LLC | $85,898,844 | 3,549,539 | 5.06% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $82,592,833 | 3,412,927 | 4.87% | Shares |
| Versant Venture Management, LLC | $76,974,876 | 3,180,780 | 4.54% | Shares |
| BRAIDWELL LP | $59,327,800 | 2,451,562 | 3.50% | Shares |
| AMERICAN CENTURY COMPANIES INC | $39,272,873 | 1,622,846 | 2.31% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $38,803,969 | 1,603,052 | 2.29% | Shares |
| Aisling Capital Management LP | $37,647,069 | 1,555,664 | 2.22% | Shares |
| Bellevue Group AG | $28,798,000 | 1,190,000 | 1.70% | Shares |
| MPM BIOIMPACT LLC | $28,098,160 | 1,161,081 | 1.66% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $27,032,513 | 1,117,046 | 1.59% | Shares |
| SILVERARC CAPITAL MANAGEMENT, LLC | $26,820,739 | 1,108,295 | 1.58% | Shares |
| Frazier Life Sciences Management, L.P. | $24,200,000 | 1,000,000 | 1.43% | Shares |
| Woodline Partners LP | $23,301,793 | 962,884 | 1.37% | Shares |
| GOLDMAN SACHS GROUP INC | $21,296,702 | 880,029 | 1.26% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $19,164,754 | 791,932 | 1.13% | Shares |
| Nextech Invest Ltd. | $18,419,903 | 761,153 | 1.09% | Shares |
| Opaleye Management Inc. | $18,029,000 | 745,000 | 1.06% | Shares |
| Nantahala Capital Management, LLC | $15,778,231 | 651,993 | 0.93% | Shares |
| FIRST TRUST ADVISORS LP | $15,676,663 | 647,796 | 0.92% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $14,914,702 | 616,310 | 0.88% | Shares |
| BOONE CAPITAL MANAGEMENT LLC | $14,889,945 | 615,287 | 0.88% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $13,372,097 | 552,566 | 0.79% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $12,233,100 | 505,500 | 0.72% | Shares |
| JANUS HENDERSON GROUP PLC | $11,051,736 | 671,226 | 0.65% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $10,890,000 | 450,000 | 0.64% | Shares |
| KENNEDY CAPITAL MANAGEMENT LLC | $9,813,802 | 405,529 | 0.58% | Shares |
| Alphabet Inc. | $9,013,871 | 372,474 | 0.53% | Shares |
| Fisher Asset Management, LLC | $8,797,182 | 363,520 | 0.52% | Shares |
| Allspring Global Investments Holdings, LLC | $8,539,139 | 352,857 | 0.50% | Shares |
| AMERIPRISE FINANCIAL INC | $8,310,934 | 343,427 | 0.49% | Shares |
| Empowered Funds, LLC | $7,968,237 | 329,266 | 0.47% | Shares |
| Caption Management, LLC | $7,260,000 | 300,000 | 0.43% | Call option |
| TD Asset Management Inc | $6,919,651 | 285,936 | 0.41% | Shares |
| Longaeva Partners L.P. | $5,246,366 | 216,792 | 0.31% | Shares |
| ADAR1 Capital Management, LLC | $5,245,398 | 216,752 | 0.31% | Shares |
| BANK OF AMERICA CORP /DE/ | $5,151,865 | 212,887 | 0.30% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $4,840,000 | 200,000 | 0.29% | Shares |
| Balyasny Asset Management L.P. | $4,813,259 | 198,895 | 0.28% | Shares |
| FMR LLC | $4,725,123 | 195,253 | 0.28% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $4,643,423 | 191,877 | 0.27% | Shares |
| Casdin Capital, LLC | $4,501,539 | 186,014 | 0.27% | Shares |
| FRANKLIN RESOURCES INC | $4,435,086 | 183,268 | 0.26% | Shares |
| DIADEMA PARTNERS LP | $4,116,420 | 170,100 | 0.24% | Call option |
| VICTORY CAPITAL MANAGEMENT INC | $4,077,990 | 168,512 | 0.24% | Shares |
| CITADEL ADVISORS LLC | $3,958,418 | 163,571 | 0.23% | Shares |
| STEMPOINT CAPITAL LP | $3,715,765 | 153,544 | 0.22% | Shares |
| TWO SIGMA INVESTMENTS, LP | $3,410,337 | 140,923 | 0.20% | Shares |
| Exome Asset Management LLC | $3,318,183 | 137,115 | 0.20% | Shares |
| CITIGROUP INC | $3,029,695 | 125,194 | 0.18% | Shares |
| ExodusPoint Capital Management, LP | $2,931,128 | 121,121 | 0.17% | Shares |
| Trexquant Investment LP | $2,791,785 | 115,363 | 0.16% | Shares |
| Caption Management, LLC | $2,718,192 | 112,322 | 0.16% | Shares |
| Atom Investors LP | $2,686,490 | 111,012 | 0.16% | Shares |
| Jain Global LLC | $2,677,657 | 110,647 | 0.16% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $2,480,500 | 102,500 | 0.15% | Shares |
| Swiss National Bank | $2,330,460 | 96,300 | 0.14% | Shares |
| RHUMBLINE ADVISERS | $2,289,140 | 94,593 | 0.13% | Shares |
| Bank of New York Mellon Corp | $2,040,350 | 84,312 | 0.12% | Shares |
| Squarepoint Ops LLC | $2,007,463 | 82,953 | 0.12% | Shares |
| BlackRock, Inc. | $1,947,931 | 80,493 | 0.11% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $1,928,038 | 79,671 | 0.11% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $1,914,752 | 79,122 | 0.11% | Shares |
| DIADEMA PARTNERS LP | $1,897,062 | 78,391 | 0.11% | Shares |
| WELLS FARGO & COMPANY/MN | $1,634,710 | 67,550 | 0.10% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $1,614,285 | 66,706 | 0.10% | Shares |
| MARSHALL WACE, LLP | $1,529,778 | 63,214 | 0.09% | Shares |
| ALLIANCEBERNSTEIN L.P. | $1,438,059 | 87,420 | 0.08% | Shares |
| Rafferty Asset Management, LLC | $1,421,871 | 58,755 | 0.08% | Shares |
| Tetragon Partners GP Ltd | $1,356,458 | 56,052 | 0.08% | Shares |
| Quantinno Capital Management LP | $1,311,616 | 54,199 | 0.08% | Shares |
| SEVEN GRAND MANAGERS, LLC | $1,089,000 | 45,000 | 0.06% | Shares |
| MetLife Investment Management, LLC | $1,053,402 | 43,529 | 0.06% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $1,048,804 | 43,339 | 0.06% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,043,020 | 43,100 | 0.06% | Put option |
| JPMORGAN CHASE & CO | $985,660 | 41,241 | 0.06% | Shares |
| XTX Topco Ltd | $964,975 | 39,875 | 0.06% | Shares |
| Vanguard Global Advisers, LLC | $934,967 | 38,635 | 0.06% | Shares |
| Round Rock Advisors LLC | $900,942 | 37,229 | 0.05% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $885,720 | 36,600 | 0.05% | Call option |
| ACT CAPITAL MANAGEMENT, LLC | $847,000 | 35,000 | 0.05% | Shares |
| Jump Financial, LLC | $844,580 | 34,900 | 0.05% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $829,600 | 34,281 | 0.05% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $825,172 | 34,098 | 0.05% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $816,314 | 33,732 | 0.05% | Shares |
| Arax Advisory Partners | $773,311 | 31,955 | 0.05% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $769,076 | 31,780 | 0.05% | Shares |
| ADVISORY RESEARCH INC | $759,783 | 31,396 | 0.04% | Shares |
| Aquatic Capital Management LLC | $739,310 | 30,550 | 0.04% | Shares |
| Informed Momentum Co LLC | $736,067 | 30,416 | 0.04% | Shares |
| PROFUND ADVISORS LLC | $728,686 | 30,111 | 0.04% | Shares |
| Invesco Ltd. | $711,286 | 29,392 | 0.04% | Shares |
| Campbell & CO Investment Adviser LLC | $686,675 | 28,375 | 0.04% | Shares |
| MORGAN STANLEY | $666,783 | 27,553 | 0.04% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $663,104 | 27,401 | 0.04% | Shares |
Company insiders 32 insiders · 11 officers · 10 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Markus Warmuth | President & CEO | July 16, 2026 S | 585,038 | 0 | 10 | $-951,079 |
| Ajim Tamboli | Chief Financial Officer | Jan. 3, 2023 A | — | 0 | 0 | $0 |
| Jennifer Champoux | Chief Operating Officer | July 15, 2026 M | 62,371 | 0 | 6 | $-311,296 |
| Sharon Townson | Chief Scientific Officer | July 6, 2026 M | 67,845 | 0 | 6 | $-423,933 |
| Filip Janku | Chief Medical Officer | June 30, 2026 M | 60,612 | 0 | 6 | $-1,379,325 |
| Philip Nickson | Chief Business & Legal Officer | April 9, 2026 S | 55,000 | 0 | 2 | $-151,259 |
| Matthew Bowen | Principal Accounting Officer | April 6, 2026 A | 25,904 | 0 | 0 | $0 |
| Edmund Dunn | Principal Accounting Officer | March 4, 2026 S | 22,554 | 0 | 4 | $-483,106 |
| Julian G Jones | Chief Business Officer | Jan. 2, 2024 A | — | 0 | 0 | $0 |
| Owen B. Wallace | Chief Scientific Officer | Jan. 2, 2024 A | — | 0 | 0 | $0 |
| John C. Castle | Chief Data Scientist | Jan. 3, 2023 A | — | 0 | 0 | $0 |
| Ali Behbahani | Director | July 1, 2026 J | 0 | 0 | 0 | $0 |
| Anthony M. Manning | Director | June 29, 2026 M | 0 | 0 | 2 | $-411,200 |
| Eric A Hughes | Director | June 11, 2026 A | — | 0 | 0 | $0 |
| Jan Skvarka | Director | June 11, 2026 A | — | 0 | 0 | $0 |
| Kimberly Blackwell | Director | June 11, 2026 A | — | 0 | 0 | $0 |
| Christine Siu | Director | June 11, 2026 A | — | 0 | 0 | $0 |
| Andrew N Schiff | Director | June 11, 2026 A | — | 0 | 0 | $0 |
| Chandra P. Leo | Director | March 24, 2025 P | 10,000 | 0 | 0 | $0 |
| Alexander Mayweg | Director | June 14, 2023 A | — | 0 | 0 | $0 |
| Rick Yang | — | June 28, 2021 C | 7,692,298 | 0 | 0 | $0 |
| Carmen Chang | — | June 28, 2021 C | 7,692,298 | 0 | 0 | $0 |
| Mohamad Makhzoumi | — | June 28, 2021 C | 7,692,298 | 0 | 0 | $0 |
| Liza Landsman | — | June 28, 2021 C | 7,692,298 | 0 | 0 | $0 |
| Anthony A. Florence, Jr. | — | June 28, 2021 C | 7,692,298 | 0 | 0 | $0 |
| Peter W. Sonsini | — | June 28, 2021 C | 7,692,298 | 0 | 0 | $0 |
| Paul Walker | — | June 28, 2021 C | 7,692,298 | 0 | 0 | $0 |
| Bradley J Bolzon PhD | — | June 28, 2021 C | 2,097,938 | 0 | 0 | $0 |
| Edward T. Mathers | — | June 28, 2021 C | 7,692,298 | 0 | 0 | $0 |
| Forest Baskett | — | June 28, 2021 C | 7,692,298 | 0 | 0 | $0 |
| Scott D. Sandell | — | June 28, 2021 C | 7,692,298 | 0 | 0 | $0 |
| Joshua Makower | — | June 28, 2021 C | 7,692,298 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 2 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 |
|---|---|---|---|---|---|
| New Enterprise Associates 17, L.P., NEA Partners 17, L.P., NEA 17 GP, LLC, Anthony A. Florence, Jr., Mohamad H. Makhzoumi, Scott D. Sandell, Forest Baskett, Ali Behbahani, Carmen Chang, Edward T. Mathers, Paul Walker, Rick Yang ×5 filings | July 6, 2026 | 7.90% | Amendment | — | SEC |
| Versant Venture Capital VI, L.P., Versant Ventures VI GP, L.P., Versant Ventures VI GP-GP, LLC, Versant Vantage I, L.P., Versant Vantage I GP, L.P., Versant Vantage I GP-GP, LLC ×7 filings | Jan. 9, 2026 | 3.40% | Amendment | — | 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 45 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 | 0.87% | 16,922 NS | April 30, 2026 | N-PORT |
| FYC · First Trust Exchange-Traded AlphaDE… | 0.65% | 354,376 NS | April 30, 2026 | N-PORT |
| LABU · Direxion Shares ETF Trust | 0.42% | 112,609 NS | April 30, 2026 | N-PORT |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.33% | 211,017 NS | April 30, 2026 | N-PORT |
| IWC · iShares Trust | 0.27% | 252,116 SH | Aug. 8, 2026 | Daily |
| VFMO · VANGUARD WELLINGTON FUND | 0.16% | 135,738 SH | Aug. 8, 2026 | Daily |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.13% | 33,064 NS | April 30, 2026 | N-PORT |
| AVUV · AMERICAN CENTURY ETF TRUST | 0.12% | 1,688,329 NS | May 31, 2026 | N-PORT |
| JPSE · J.P. Morgan Exchange-Traded Fund Tr… | 0.12% | 36,364 NS | April 30, 2026 | N-PORT |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.11% | 79,376 SH | Aug. 8, 2026 | Daily |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.09% | 4,595 SH | Aug. 8, 2026 | Daily |
| BIB · ProShares Trust | 0.08% | 2,818 NS | May 31, 2026 | N-PORT |
| IWO · iShares Trust | 0.07% | 672,538 SH | Aug. 8, 2026 | Daily |
| IBB · iShares Trust | 0.07% | 432,718 SH | Aug. 8, 2026 | Daily |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.06% | 84,980 NS | May 31, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.05% | 426,236 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.04% | 1,889,130 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.04% | 26,222 NS | April 30, 2026 | N-PORT |
| ISCV · iShares Trust | 0.03% | 14,176 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.03% | 232,444 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.03% | 2,848 NS | May 31, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.03% | 48,467 SH | Aug. 8, 2026 | Daily |
| SCHA · SCHWAB STRATEGIC TRUST | 0.03% | 299,700 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.02% | 784,803 SH | Aug. 8, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.02% | 144,477 SH | Aug. 8, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.02% | 3,431 SH | Aug. 8, 2026 | Daily |
| UWM · ProShares Trust | 0.02% | 2,227 NS | May 31, 2026 | N-PORT |
| ISCB · iShares Trust | 0.01% | 2,736 SH | Aug. 8, 2026 | Daily |
| URTY · ProShares Trust | 0.01% | 2,256 NS | May 31, 2026 | N-PORT |
| FHLC · FIDELITY COVINGTON TRUST | 0.01% | 14,154 NS | April 30, 2026 | N-PORT |
| WSML · iShares Trust | 0.01% | 3,331 SH | Aug. 8, 2026 | Daily |
| AVUS · AMERICAN CENTURY ETF TRUST | 0.01% | 38,324 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.01% | 57 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 1,804 NS | May 31, 2026 | N-PORT |
| ONEQ · Fidelity Commonwealth Trust | 0.00% | 22,362 NS | May 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 4,562 NS | April 30, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 60,673 NS | April 30, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 11,346 NS | April 30, 2026 | N-PORT |
| IWV · iShares Trust | 0.00% | 22,928 SH | Aug. 8, 2026 | Daily |
| AVUQ · AMERICAN CENTURY ETF TRUST | 0.00% | 222 NS | May 31, 2026 | N-PORT |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 35,519 NS | May 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 89,698 SH | Aug. 8, 2026 | Daily |
| DFUS · Dimensional ETF Trust | 0.00% | 12,608 NS | April 30, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 2,550,827 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 6,105 SH | Aug. 8, 2026 | Daily |