MBX MBX Biosciences, Inc. - Common Stock
$66.72
Price · Aug 19, 2026
Fundamentals as of Aug 6, 2026
52W Range
$10–$73
91% of range
Analyst Rating
BUY
15 analysts
Price Target
$88
+32% upside
P/E (TTM)
-28.0
ROE
-29.6%
Net Profit Margin
—
MBX Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$66.72
Market Cap
$3.00B
P/E (TTM)
-28.0
EPS (TTM)
$-2.38
Revenue (TTM)
—
Div Yield
—
ROE
-29.6%
Debt/Equity
—
52W Range
$10 – $73
MBX Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
—
EPS
$-2.38
2023-12-31
→
2025-12-31
Free Cash Flow
$-82M
2024-12-31
→
2025-12-31
Margins
—
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
MBX
Peer Median
P/E (TTM)
-28.0
38.7
P/B
8.1
3.8
Price / FCF
-36.6
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
MBX
Peer Median
ROA
-26.6%
-6.4%
ROE
-29.6%
-16.8%
ROIC
-26.6%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
MBX
Peer Median
Current Ratio
24.6
12.8
Quick Ratio
24.1
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
MBX
Peer Median
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
MBX
Peer Median
MBX 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
10 analysts · 2026-08-18
Median
$88.00
← Below all targets
$66.72
Low
$70.00
High
$121.00
Median target
$88.00
+31.9%
Mean target
$88.40
+32.5%
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 | $-0.78 | $-0.64 | -0.14% |
| March 31, 2026 | $-0.51 | $-0.59 | 0.08% |
| Dec. 31, 2025 | $-0.49 | $-0.62 | 0.13% |
| Sept. 30, 2025 | $-0.63 | $-0.70 | 0.07% |
| June 30, 2025 | $-0.58 | $-0.77 | 0.19% |
| March 31, 2025 | $-0.71 | $-0.78 | 0.07% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| MBX | $1.42B | -13.3 | — | — | -29.6% | — |
| ELVN | $915M | -8.4 | — | — | -21.9% | — |
| AMLX | $1.33B | -7.9 | -77.1% | — | -61.2% | — |
| GPCR | $14.78B | -86.9 | — | — | -12.3% | — |
| OGN | $1.87B | 10.0 | -2.9% | 3.0% | 25.2% | 53.3% |
| TARS | $3.48B | -51.5 | 146.7% | -14.7% | -19.7% | — |
| ALMS | — | -3.4 | — | -1011.8% | -61.9% | — |
| SUPN | $2.86B | -73.1 | 8.6% | -5.4% | -3.6% | — |
| ATAI | $223M | -1.4 | -1.9% | -48464.0% | -83.1% | — |
| TRVI | $1.61B | -39.1 | — | — | -22.4% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 12
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| R&D Expense | $79M | $57M | $29M | |
| SG&A Expense | $19M | $11M | $7M | |
| Operating Expenses | $98M | $68M | $35M | |
| Operating Income | $-98M | $-68M | $-35M | |
| Pretax Income | $-87M | $-62M | · | |
| Income Tax | $0 | $0 | $0 | |
| Net Income | $-87M | $-62M | $-33M | |
| EPS (Basic) | $-2.38 | $-5.82 | $-31.96 | |
| EPS (Diluted) | $-2.38 | $-5.82 | $-31.96 | |
| Shares (Basic) | 36,506,092 | 10,642,954 | 1,018,757 | |
| Shares (Diluted) | 36,506,092 | 10,642,954 | 1,018,757 | |
| EBITDA | $-98M | $-68M | · |
Balance Sheet 21
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Cash & Equivalents | $75M | $49M | $31M | |
| Short-term Investments | $298M | $213M | $50M | |
| Prepaid Expense | $8M | $5M | $3M | |
| Other Current Assets | $861.0K | $803.0K | $133.0K | |
| Current Assets | $382M | $267M | $83M | |
| PP&E (Net) | $3M | $1M | $439.0K | |
| PP&E (Gross) | $3M | $2M | $617.0K | |
| Accum. Depreciation | $670.0K | $422.0K | $178.0K | |
| Other Non-current Assets | $383.0K | $50.0K | $50.0K | |
| Total Assets | $385M | $269M | $84M | |
| Accounts Payable | $3M | $5M | $1M | |
| Accrued Liabilities | $12M | $6M | $2M | |
| Current Liabilities | $15M | $11M | $4M | |
| Capital Leases | $424.0K | $0 | $171.0K | |
| Total Liabilities | $16M | $11M | $4M | |
| Common Stock | $6.0K | $5.0K | $1.0K | |
| Retained Earnings | $-224M | $-138M | $-76M | |
| AOCI | $286.0K | $55.0K | $60.0K | |
| Stockholders' Equity | $369M | $257M | $-72M | |
| Liabilities + Equity | $385M | $269M | $84M | |
| Shares Outstanding | 44,927,953 | 33,421,525 | 1,257,080 |
Cash Flow 9
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Stock-based Comp | $9M | $5M | $2M | |
| Operating Cash Flow | $-80M | $-55M | $-32M | |
| CapEx | $2M | $874.0K | $129.0K | |
| Investing Cash Flow | $-84M | $-161M | $-31M | |
| Stock Issued | $602M | · | · | |
| Net Stock Activity | $602M | · | · | |
| Financing Cash Flow | $190M | $234M | $69M | |
| Net Change in Cash | $26M | $19M | $6M | |
| Free Cash Flow | $-82M | $-56M | · |
Profitability 3
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| ROA | -26.6% | -35.1% | · | |
| ROE | -29.6% | -23.4% | · | |
| ROIC | -26.6% | · | · |
Liquidity & Solvency 2
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Current Ratio | 24.6 | 24.2 | · | |
| Quick Ratio | 24.1 | 23.7 | · |
Valuation (TTM) 8
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Net Income TTM | $-87M | $-62M | · | |
| Market Cap | $1.42B | $616M | · | |
| P/E | -13.3 | -3.2 | · | |
| P/B | 3.8 | 2.4 | · | |
| P / Tangible Book | 3.8 | 2.4 | · | |
| P / Cash Flow | -17.7 | -11.3 | · | |
| P / FCF | -17.3 | -11.1 | · | |
| Earnings Yield | -7.5% | -31.6% | · |
Income Statement 10
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q4 2023 |
|---|---|---|---|---|---|---|---|---|---|---|
| R&D Expense | $31M | $18M | $20M | $19M | $18M | $22M | $15M | $17M | $8M | |
| SG&A Expense | $10M | $9M | $6M | $5M | $4M | $4M | $3M | $3M | $2M | |
| Operating Expenses | $41M | $27M | $26M | $24M | $22M | $27M | $19M | $20M | $10M | |
| Operating Income | $-41M | $-27M | $-26M | $-24M | $-22M | $-27M | $-19M | $-20M | $-10M | |
| Net Income | $-37M | $-24M | $-22M | $-22M | $-19M | $-24M | $-16M | $-18M | $-9M | |
| EPS (Basic) | $-0.78 | $-0.50 | $-0.46 | $-0.63 | $-0.58 | $-0.71 | $19.84 | $-2.78 | $-7.68 | |
| EPS (Diluted) | $-0.78 | $-0.50 | $-0.46 | $-0.63 | $-0.58 | $-0.71 | $19.84 | $-2.78 | $-7.68 | |
| Shares (Basic) | 47,696,363 | 46,576,204 | -64,551,276 | 34,198,597 | 33,446,385 | 33,412,386 | 1,668,393 | 6,515,616 | 41,933 | |
| Shares (Diluted) | 47,696,363 | 46,576,204 | -64,551,276 | 34,198,597 | 33,446,385 | 33,412,386 | 1,668,393 | 6,515,616 | 41,933 | |
| EBITDA | $-41M | $-27M | · | $-24M | $-22M | $-27M | · | $-20M | · |
Balance Sheet 21
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q4 2023 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $54M | $45M | $75M | $223M | $40M | $30M | $49M | $133M | $31M | |
| Short-term Investments | $364M | $395M | $298M | $169M | $185M | $211M | $213M | $144M | $50M | |
| Prepaid Expense | $9M | $9M | $8M | $6M | $4M | $3M | $5M | $4M | $3M | |
| Other Current Assets | $1M | $814.0K | $861.0K | $882.0K | $472.0K | $626.0K | $803.0K | $838.0K | $133.0K | |
| Current Assets | $428M | $449M | $382M | $398M | $229M | $244M | $267M | $281M | $83M | |
| PP&E (Net) | $5M | $3M | $3M | $2M | $2M | $2M | $1M | $1M | $439.0K | |
| PP&E (Gross) | $5M | $4M | $3M | $3M | $2M | $2M | $2M | $1M | $617.0K | |
| Accum. Depreciation | $813.0K | $734.0K | $670.0K | $610.0K | $560.0K | $499.0K | $422.0K | $364.0K | $178.0K | |
| Other Non-current Assets | $625.0K | $579.0K | $383.0K | $50.0K | $50.0K | $50.0K | $50.0K | $50.0K | $50.0K | |
| Total Assets | $436M | $453M | $385M | $400M | $232M | $246M | $269M | $282M | $84M | |
| Accounts Payable | $4M | $7M | $3M | $4M | $6M | $4M | $5M | $5M | $1M | |
| Accrued Liabilities | $19M | $7M | $12M | $8M | $6M | $6M | $6M | $6M | $2M | |
| Current Liabilities | $24M | $15M | $15M | $12M | $12M | $10M | $11M | $11M | $4M | |
| Capital Leases | $3M | $377.0K | $424.0K | $469.0K | $512.0K | · | $0 | $44.0K | $171.0K | |
| Total Liabilities | $26M | $15M | $16M | $13M | $12M | $11M | $11M | $11M | $4M | |
| Common Stock | $6.0K | $6.0K | $6.0K | $6.0K | $5.0K | $5.0K | $5.0K | $5.0K | $1.0K | |
| Retained Earnings | $-285M | $-248M | $-224M | $-202M | $-181M | $-161M | $-138M | $-122M | $-76M | |
| AOCI | $-1M | $-606.0K | $286.0K | $154.0K | $11.0K | $53.0K | $55.0K | $106.0K | $60.0K | |
| Stockholders' Equity | $410M | $438M | $369M | $388M | $219M | $235M | $257M | $271M | $-72M | |
| Liabilities + Equity | $436M | $453M | $385M | $400M | $232M | $246M | $269M | $282M | $84M | |
| Shares Outstanding | 47,949,804 | 47,570,464 | 44,927,953 | 44,715,498 | 33,592,226 | 33,424,371 | 33,421,525 | 33,376,058 | 1,257,080 |
Cash Flow 9
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q4 2023 |
|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $6M | $5M | $3M | $2M | $2M | $2M | $1M | $1M | $1M | |
| Operating Cash Flow | $-23M | $-20M | $-18M | $-22M | $-17M | $-23M | $-16M | $-15M | $-11M | |
| CapEx | $901.0K | $437.0K | $793.0K | $399.0K | $707.0K | $30.0K | $92.0K | $57.0K | $55.0K | |
| Investing Cash Flow | $29M | $-97M | $-130M | $17M | $26M | $3M | $-67M | $-101M | $-29M | |
| Stock Issued | $0 | $689M | · | · | · | · | · | · | · | |
| Net Stock Activity | · | $689M | · | · | · | · | · | · | · | |
| Financing Cash Flow | $2M | $87M | $438.0K | $188M | $1M | $4.0K | $-132.0K | $236M | $19.0K | |
| Net Change in Cash | $9M | $-30M | $-148M | $183M | $10M | $-19M | $-84M | $120M | $-40M | |
| Free Cash Flow | · | $-21M | · | · | · | $-23M | · | · | · |
Profitability 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q4 2023 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROA | -11.1% | -6.7% | · | -6.3% | -16.8% | -19.4% | · | -12.8% | · | |
| ROE | -11.8% | -7.0% | · | -6.6% | -17.7% | -20.3% | · | -13.4% | · |
Liquidity & Solvency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q4 2023 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 18.1 | 30.8 | · | 33.0 | 19.5 | 23.3 | · | 25.7 | · | |
| Quick Ratio | 17.7 | 30.2 | · | 32.5 | 19.1 | 23.0 | · | 25.4 | · |
Valuation (TTM) 8
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q4 2023 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income TTM | $-102M | $-88M | · | $-83M | $-77M | $-70M | · | $-56M | · | |
| Market Cap | $2.65B | $1.42B | · | $783M | $383M | $247M | · | $867M | · | |
| P/E | -22.2 | -12.3 | · | -3.7 | -0.7 | -0.3 | · | -0.7 | · | |
| P/B | 6.5 | 3.2 | · | 2.0 | 1.7 | 1.0 | · | 3.2 | · | |
| P / Tangible Book | 6.5 | 3.2 | · | 2.0 | 1.7 | 1.0 | · | 3.2 | · | |
| P / Cash Flow | · | -70.3 | · | · | · | -10.9 | · | · | · | |
| P / FCF | · | -68.8 | · | · | · | -10.9 | · | · | · | |
| Earnings Yield | -4.5% | -8.1% | · | -26.9% | -146.3% | -357.3% | · | -134.9% | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | |
|---|---|---|---|
| Net Income | $-87M | $-62M | $-33M |
| Diluted EPS | $-2.38 | $-5.82 | $-31.96 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | |
|---|---|---|---|
| Current Ratio | 24.6 | 24.2 | — |
| Quick Ratio | 24.1 | 23.7 | — |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | |
|---|---|---|---|
| Free Cash Flow | $-82M | $-56M | — |
Latest News Recent headlines mentioning this company
My Metrics Your personal watchlist — selected rows from Full Fundamentals
📊
Pick the metrics that matter to you — click the ➕ next to any row in Full Fundamentals above.
Your selection is saved and follows you across all tickers.
Institutional owners (13F) 182 filers · $2.7B 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 |
|---|---|---|---|---|
| 47 (+14 vs prior Q) | 18 (-1 vs prior Q) | 59 (+20 vs prior Q) | 47 (-3 vs prior Q) | +4.5M |
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 |
|---|---|---|---|---|
| Frazier Life Sciences Management, L.P. | $367,191,118 | 6,652,013 | 13.63% | Shares |
| FMR LLC | $268,545,074 | 4,864,947 | 9.97% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $218,738,501 | 3,962,654 | 8.12% | Shares |
| NEA Management Company, LLC | $199,519,627 | 3,614,486 | 7.41% | Shares |
| ORBIMED ADVISORS LLC | $189,266,227 | 3,428,736 | 7.03% | Shares |
| Paradigm Biocapital Advisors LP | $138,442,428 | 2,508,015 | 5.14% | Shares |
| NVP ASSOCIATES, LLC | $117,925,692 | 2,136,335 | 4.38% | Shares |
| Deep Track Capital, LP | $95,637,809 | 1,732,569 | 3.55% | Shares |
| Polar Capital Holdings Plc | $88,789,973 | 1,608,514 | 3.30% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $81,551,818 | 1,477,388 | 3.03% | Shares |
| Aaron Wealth Advisors LLC | $64,462,505 | 1,167,799 | 2.39% | Shares |
| Driehaus Capital Management LLC | $58,323,161 | 1,056,579 | 2.17% | Shares |
| Kynam Capital Management, LP | $51,600,905 | 934,799 | 1.92% | Shares |
| Woodline Partners LP | $49,685,078 | 900,092 | 1.84% | Shares |
| EVENTIDE ASSET MANAGEMENT, LLC | $48,216,758 | 873,492 | 1.79% | Shares |
| STATE STREET CORP | $47,718,523 | 864,466 | 1.77% | Shares |
| Parkman Healthcare Partners LLC | $44,169,550 | 800,173 | 1.64% | Shares |
| BRAIDWELL LP | $39,240,576 | 710,880 | 1.46% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $36,875,889 | 667,870 | 1.37% | Shares |
| TCG Crossover Management, LLC | $35,880,000 | 650,000 | 1.33% | Shares |
| Cormorant Asset Management, LP | $30,360,000 | 550,000 | 1.13% | Shares |
| Soleus Capital Management, L.P. | $28,443,401 | 515,279 | 1.06% | Shares |
| MARSHALL WACE, LLP | $22,184,052 | 401,885 | 0.82% | Shares |
| EcoR1 Capital, LLC | $21,445,200 | 388,500 | 0.80% | Shares |
| GOLDMAN SACHS GROUP INC | $21,151,812 | 383,185 | 0.79% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $19,138,778 | 346,717 | 0.71% | Shares |
| Rock Springs Capital Management LP | $16,461,634 | 298,218 | 0.61% | Shares |
| Candriam S.C.A. | $15,986,698 | 289,893 | 0.59% | Shares |
| BANK OF AMERICA CORP /DE/ | $15,871,325 | 287,524 | 0.59% | Shares |
| Opaleye Management Inc. | $14,352,000 | 260,000 | 0.53% | Shares |
| Schonfeld Strategic Advisors LLC | $13,726,583 | 248,670 | 0.51% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $12,866,844 | 233,095 | 0.48% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $12,527,364 | 226,945 | 0.47% | Shares |
| MILLENNIUM MANAGEMENT LLC | $12,483,535 | 226,151 | 0.46% | Shares |
| Tetragon Partners GP Ltd | $11,235,574 | 203,543 | 0.42% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $11,118,881 | 201,429 | 0.41% | Shares |
| Caption Management, LLC | $11,040,000 | 200,000 | 0.41% | Call option |
| Caption Management, LLC | $11,040,000 | 200,000 | 0.41% | Put option |
| Caligan Partners LP | $11,040,000 | 200,000 | 0.41% | Shares |
| D. E. Shaw & Co., Inc. | $10,088,738 | 182,767 | 0.37% | Shares |
| KVP Capital Advisors, LP | $6,708,125 | 121,524 | 0.25% | Shares |
| TWO SIGMA INVESTMENTS, LP | $6,263,820 | 113,475 | 0.23% | Shares |
| Burkehill Global Management, LP | $5,520,000 | 100,000 | 0.20% | Shares |
| TD Asset Management Inc | $5,277,010 | 95,598 | 0.20% | Shares |
| VANGUARD GROUP INC | $5,248,193 | 166,398 | 0.19% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $5,210,880 | 94,400 | 0.19% | Call option |
| Elmind Capital, LP | $5,023,200 | 91,000 | 0.19% | Shares |
| BARCLAYS PLC | $4,755,424 | 86,149 | 0.18% | Shares |
| Affinity Asset Advisors, LLC | $4,140,000 | 75,000 | 0.15% | Shares |
| PFM Health Sciences, LP | $3,917,599 | 70,971 | 0.15% | Shares |
| BOOTHBAY FUND MANAGEMENT, LLC | $3,883,486 | 70,353 | 0.14% | Shares |
| PRUDENTIAL FINANCIAL INC | $3,684,324 | 66,745 | 0.14% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $3,649,382 | 66,112 | 0.14% | Shares |
| MOORE CAPITAL MANAGEMENT, LP | $3,582,094 | 64,893 | 0.13% | Shares |
| Rhenman & Partners Asset Management AB | $3,422,400 | 62,000 | 0.13% | Shares |
| BlackRock, Inc. | $2,806,534 | 50,843 | 0.10% | Shares |
| ALPS ADVISORS INC | $2,650,262 | 48,012 | 0.10% | Shares |
| PLATINUM INVESTMENT MANAGEMENT LTD | $2,406,554 | 43,597 | 0.09% | Shares |
| Swiss National Bank | $2,368,080 | 42,900 | 0.09% | Shares |
| Ensign Peak Advisors, Inc | $2,327,011 | 42,156 | 0.09% | Shares |
| ALGERT GLOBAL LLC | $2,322,264 | 42,070 | 0.09% | Shares |
| JANE STREET GROUP, LLC | $2,075,520 | 37,600 | 0.08% | Call option |
| RHUMBLINE ADVISERS | $2,053,213 | 37,196 | 0.08% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,711,200 | 31,000 | 0.06% | Put option |
| Bank of New York Mellon Corp | $1,627,958 | 29,492 | 0.06% | Shares |
| WELLS FARGO & COMPANY/MN | $1,562,878 | 28,313 | 0.06% | Shares |
| EXCHANGE TRADED CONCEPTS, LLC | $1,513,639 | 27,421 | 0.06% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,472,957 | 26,684 | 0.05% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $1,424,160 | 25,800 | 0.05% | Shares |
| CITIGROUP INC | $1,287,871 | 23,331 | 0.05% | Shares |
| AMERICAN CENTURY COMPANIES INC | $1,251,936 | 22,680 | 0.05% | Shares |
| CITADEL ADVISORS LLC | $1,236,480 | 22,400 | 0.05% | Call option |
| AQR CAPITAL MANAGEMENT LLC | $1,215,007 | 22,011 | 0.05% | Shares |
| Cerity Partners LLC | $1,149,374 | 20,822 | 0.04% | Shares |
| Vanguard Global Advisers, LLC | $1,047,089 | 18,969 | 0.04% | Shares |
| MetLife Investment Management, LLC | $1,007,400 | 18,250 | 0.04% | Shares |
| Koa Wealth Management, LLC | $944,638 | 17,113 | 0.04% | Shares |
| ALLIANCEBERNSTEIN L.P. | $925,350 | 31,000 | 0.03% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $881,599 | 15,971 | 0.03% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $814,310 | 14,752 | 0.03% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $788,918 | 14,292 | 0.03% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $679,535 | 22,765 | 0.03% | Shares |
| Invesco Ltd. | $679,015 | 12,301 | 0.03% | Shares |
| DAFNA Capital Management LLC | $651,857 | 11,809 | 0.02% | Shares |
| HighVista Strategies LLC | $642,197 | 11,634 | 0.02% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $607,200 | 11,000 | 0.02% | Shares |
| FRED ALGER MANAGEMENT, LLC | $545,210 | 9,877 | 0.02% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $544,272 | 9,860 | 0.02% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $539,690 | 9,777 | 0.02% | Shares |
| Virtus Investment Advisers, LLC | $508,668 | 9,215 | 0.02% | Shares |
| China Universal Asset Management Co., Ltd. | $506,460 | 9,175 | 0.02% | Shares |
| Police & Firemen's Retirement System of New Jersey | $505,301 | 9,154 | 0.02% | Shares |
| PROFUND ADVISORS LLC | $486,422 | 8,812 | 0.02% | Shares |
| ACT CAPITAL MANAGEMENT, LLC | $441,600 | 8,000 | 0.02% | Shares |
| Optimize Financial Inc | $433,064 | 14,508 | 0.02% | Shares |
| DNB Asset Management AS | $430,174 | 7,793 | 0.02% | Shares |
| AXQ CAPITAL, LP | $428,186 | 7,757 | 0.02% | Shares |
| State of New Jersey Common Pension Fund D | $381,598 | 6,913 | 0.01% | Shares |
| Quantinno Capital Management LP | $358,634 | 6,497 | 0.01% | Shares |
| Rafferty Asset Management, LLC | $353,832 | 6,410 | 0.01% | Shares |
Company insiders 22 insiders · 4 officers · 10 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Steven L. Hoerter | President and CEO | Aug. 3, 2026 A | 82,938 | 1 | 0 | $265,000 |
| Kent P. Hawryluk | President & CEO | May 6, 2026 S | 727,667 | 2 | 1 | $780,454 |
| John W Smither | Chief Financial Officer | Aug. 3, 2026 A | 28,000 | 0 | 0 | $0 |
| Richard Bartram | Chief Financial Officer | Feb. 2, 2026 A | 15,000 | 0 | 0 | $0 |
| Steven Ryder | Director | June 4, 2026 A | — | 0 | 0 | $0 |
| Tiba Aynechi | Director | June 4, 2026 A | 2,136,335 | 0 | 0 | $0 |
| Laurie Stelzer | Director | June 4, 2026 A | — | 0 | 0 | $0 |
| Ora H. Pescovitz | Director | June 4, 2026 A | 24,329 | 0 | 0 | $0 |
| Patrick J. Heron | Director | June 4, 2026 A | 4,552,774 | 0 | 0 | $0 |
| Edward T. Mathers | Director | June 4, 2026 A | 3,614,486 | 0 | 0 | $0 |
| James M Cornelius | Director | June 5, 2025 A | 102,082 | 0 | 0 | $0 |
| GORDON CARL L | Director | Feb. 18, 2025 P | 747,887 | 0 | 0 | $0 |
| Wellington Biomedical Innovation Master Investors (Cayman) II L.P. | 10% owner | Sept. 16, 2024 C | 1,790,122 | 0 | 0 | $0 |
| Rick Yang | 10% owner | Sept. 16, 2024 C | 3,614,486 | 0 | 0 | $0 |
| Carmen Chang | 10% owner | Sept. 16, 2024 C | 3,614,486 | 0 | 0 | $0 |
| Mohamad Makhzoumi | 10% owner | Sept. 16, 2024 C | 3,614,486 | 0 | 0 | $0 |
| Ali Behbahani | 10% owner | Sept. 16, 2024 C | 3,614,486 | 0 | 0 | $0 |
| Anthony A. Florence, Jr. | 10% owner | Sept. 16, 2024 C | 3,614,486 | 0 | 0 | $0 |
| Paul Walker | 10% owner | Sept. 16, 2024 C | 3,614,486 | 0 | 0 | $0 |
| Forest Baskett | 10% owner | Sept. 16, 2024 C | 3,614,486 | 0 | 0 | $0 |
| Scott D. Sandell | 10% owner | Sept. 16, 2024 C | 3,614,486 | 0 | 0 | $0 |
| Salomon Azoulay | — | Aug. 4, 2026 S | 14,399 | 0 | 4 | $-2,716,674 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 4 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 |
|---|---|---|---|---|---|
| Frazier Life Sciences Public Fund, L.P., FHMLSP, L.P., FHMLSP, L.L.C., Frazier Life Sciences X, L.P., FHMLS X, L.P., FHMLS X, L.L.C., Frazier Life Sciences XI, L.P., FHMLS XI, L.P., FHMLS XI, L.L.C., James N. Topper, Patrick J. Heron ×4 filings | Aug. 10, 2026 | 11.70% | Amendment | — | SEC |
| ORBIMED ADVISORS LLC, ORBIMED CAPITAL GP VII LLC, ORBIMED GENESIS GP LLC ×4 filings | Aug. 10, 2026 | 6.40% | Amendment | — | SEC |
| New Enterprise Associates 17, L.P., NEA Partners 17, L.P., NEA 17 GP, LLC, Forest Baskett, Ali Behbahani, Carmen Chang, Anthony A. Florence, Jr., Mohamad H. Makhzoumi, Edward T. Mathers, Scott D. Sandell, Paul Walker, Rick Yang ×2 filings | Nov. 10, 2025 | 8.10% | Amendment | Passive investment | SEC |
| Norwest Venture Partners XVI, LP, Genesis VC Partners XVI, LLC, NVP Associates, LLC, Jeffrey Crowe, Jon Erik Kossow, Tiba Aynechi ×2 filings | Sept. 30, 2025 | 4.80% | 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 |
|---|---|---|---|---|
| PTH · Invesco Exchange-Traded Fund Trust | 1.52% | 55,186 SH | Aug. 8, 2026 | Daily |
| PILL · Direxion Shares ETF Trust | 1.37% | 5,866 NS | April 30, 2026 | N-PORT |
| SBIO · ALPS ETF Trust | 0.90% | 46,286 NS | May 31, 2026 | N-PORT |
| BBC · ETFis Series Trust I | 0.75% | 9,242 NS | April 30, 2026 | N-PORT |
| HRTS · Tema ETF Trust | 0.53% | 8,761 NS | May 31, 2026 | N-PORT |
| IWC · iShares Trust | 0.47% | 105,329 SH | Aug. 8, 2026 | Daily |
| IHE · iShares Trust | 0.39% | 95,133 SH | Aug. 8, 2026 | Daily |
| FMED · Fidelity Covington Trust | 0.39% | 5,128 NS | May 31, 2026 | N-PORT |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.22% | 2,591 SH | Aug. 8, 2026 | Daily |
| VFMO · VANGUARD WELLINGTON FUND | 0.19% | 67,904 SH | Aug. 8, 2026 | Daily |
| IBB · iShares Trust | 0.15% | 216,559 SH | Aug. 8, 2026 | Daily |
| IWO · iShares Trust | 0.13% | 281,995 SH | Aug. 8, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.10% | 33,276 SH | Aug. 8, 2026 | Daily |
| FFSM · FIDELITY COVINGTON TRUST | 0.08% | 36,306 NS | April 30, 2026 | N-PORT |
| BIB · ProShares Trust | 0.07% | 1,658 NS | May 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.07% | 784,502 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.05% | 178,613 SH | Aug. 8, 2026 | Daily |
| ISCV · iShares Trust | 0.03% | 3,348 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.03% | 12,353 NS | April 30, 2026 | N-PORT |
| ISCB · iShares Trust | 0.03% | 1,098 SH | Aug. 8, 2026 | Daily |
| GSSC · Goldman Sachs ETF Trust | 0.02% | 7,648 NS | May 31, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.02% | 1,340 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.02% | 305,918 SH | Aug. 8, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.02% | 64,357 SH | Aug. 8, 2026 | Daily |
| ISCG · iShares Trust | 0.02% | 2,970 SH | Aug. 8, 2026 | Daily |
| SCHA · SCHWAB STRATEGIC TRUST | 0.02% | 119,833 NS | May 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.01% | 1,376 SH | Aug. 8, 2026 | Daily |
| UWM · ProShares Trust | 0.01% | 1,048 NS | May 31, 2026 | N-PORT |
| FHLC · FIDELITY COVINGTON TRUST | 0.01% | 10,305 NS | April 30, 2026 | N-PORT |
| URTY · ProShares Trust | 0.01% | 1,060 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.01% | 40,965 NS | April 30, 2026 | N-PORT |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.01% | 5,970 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.01% | 1,397 NS | May 31, 2026 | N-PORT |
| ONEQ · Fidelity Commonwealth Trust | 0.00% | 14,062 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 27 NS | May 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 41,133 SH | Aug. 8, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 7,686 SH | Aug. 8, 2026 | Daily |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 15,071 NS | May 31, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 5,577 NS | April 30, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 8,774 NS | April 30, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 344 NS | April 30, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 869 NS | April 30, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 1,135,725 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 2,567 SH | Aug. 8, 2026 | Daily |
| DFSU · Dimensional ETF Trust | 0.00% | 29 NS | April 30, 2026 | N-PORT |