OLMA Olema Pharmaceuticals, Inc. - Common Stock
$10.83
Price · Aug 18, 2026
Fundamentals as of Aug 10, 2026
52W Range
$5–$36
18% of range
Analyst Rating
BUY
18 analysts
Price Target
$40
+271% upside
P/E (TTM)
-5.8
ROE
-39.4%
Net Profit Margin
—
OLMA Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$10.82
Market Cap
$881M
P/E (TTM)
-5.8
EPS (TTM)
$-1.87
Revenue (TTM)
—
Div Yield
—
ROE
-39.4%
Debt/Equity
—
52W Range
$5 – $36
OLMA 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
$-1.87
2019-12-31
→
2025-12-31
Free Cash Flow
—
2021-12-31
→
2024-12-31
Margins
—
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
OLMA
Peer Median
P/E (TTM)
-5.8
—
P/B
1.8
3.4
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
OLMA
Peer Median
ROA
-33.0%
-31.3%
ROE
-39.4%
-38.1%
ROIC
-37.3%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
OLMA
Peer Median
Current Ratio
10.0
10.9
Quick Ratio
9.8
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
OLMA
Peer Median
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
OLMA
Peer Median
OLMA Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
18 analysts
- Strong Buy 6 33.3%
- Buy 10 55.6%
- Hold 2 11.1%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
10 analysts · 2026-08-17
Median
$40.00
← Below all targets
$10.82
Low
$20.00
High
$62.00
Median target
$40.00
+269.5%
Mean target
$40.20
+271.4%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.01%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.61 | $-0.56 | -0.05% |
| March 31, 2026 | $-0.52 | $-0.54 | 0.02% |
| Dec. 31, 2025 | $-0.50 | $-0.54 | 0.04% |
| Sept. 30, 2025 | $-0.49 | $-0.49 | 0.00% |
| June 30, 2025 | $-0.51 | $-0.38 | -0.13% |
| March 31, 2025 | $-0.36 | $-0.52 | 0.16% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| OLMA | $2.03B | -13.4 | — | — | -39.4% | — |
| CLYM | $191M | -4.5 | — | — | -34.6% | — |
| GERN | $845M | -10.2 | -60.2% | — | -34.4% | — |
| ANNX | $750M | -3.7 | — | — | -100.7% | — |
| SLDB | $445M | -2.8 | — | — | -79.5% | — |
| DSGN | $567M | -7.7 | — | — | -32.8% | — |
| CADL | $310M | -7.8 | — | — | -53.7% | — |
| FTH | — | — | — | — | — | — |
| IMMX | $277M | -5.9 | — | — | -59.8% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| R&D Expense | $158M | $125M | $86M | $82M | $51M | $14M | |
| SG&A Expense | $21M | $18M | $19M | $25M | $20M | $8M | |
| Operating Expenses | $179M | $142M | $105M | $107M | $71M | $22M | |
| Operating Income | $-179M | $-142M | $-105M | $-107M | $-71M | $-22M | |
| Interest Expense | · | · | · | · | · | $653.0K | |
| Interest Income | $16M | $13M | $8M | $2M | $442.0K | $60.0K | |
| Other Non-op | $23.0K | $102.0K | $-19.0K | $-27.0K | $-47.0K | · | |
| Pretax Income | $-162M | $-129M | · | · | · | · | |
| Income Tax | $3.0K | $2.0K | $2.0K | $1.0K | · | · | |
| Net Income | $-162M | $-129M | $-97M | $-105M | $-71M | $-22M | |
| EPS (Basic) | $-1.87 | $-2.20 | $-2.14 | $-2.62 | $-1.80 | $-3.42 | |
| EPS (Diluted) | $-1.87 | $-2.20 | $-2.14 | $-2.62 | $-1.80 | $-3.42 | |
| Shares (Basic) | 87,006,027 | 58,743,522 | 45,247,098 | 39,995,460 | 39,524,272 | 7,021,468 | |
| Shares (Diluted) | 87,006,027 | 58,743,522 | 45,247,098 | 39,995,460 | 39,524,272 | 7,021,468 | |
| EBITDA | $-178M | $-142M | $-105M | $-107M | $-71M | · |
Balance Sheet 20
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $48M | $139M | $69M | $24M | $14M | $339M | |
| Short-term Investments | $457M | $295M | $193M | $181M | $273M | · | |
| Prepaid Expense | $10M | $4M | $5M | $4M | $3M | $4M | |
| Current Assets | $515M | $438M | $267M | $209M | $291M | $342M | |
| PP&E (Net) | $274.0K | $746.0K | $968.0K | $1M | $1M | $75.0K | |
| PP&E (Gross) | · | · | · | $2M | $2M | $137.0K | |
| Accum. Depreciation | · | · | · | $581.0K | $224.0K | $62.0K | |
| Other Non-current Assets | · | $15.0K | · | $3M | $540.0K | $510.0K | |
| Total Assets | $533M | $451M | $277M | $216M | $296M | $343M | |
| Accounts Payable | $9M | $4M | $3M | $374.0K | $23.0K | $719.0K | |
| Current Liabilities | $52M | $42M | $22M | $17M | $9M | $5M | |
| Capital Leases | $69.0K | $257.0K | $1M | $2M | $2M | · | |
| Total Liabilities | $55M | $42M | $23M | $18M | $11M | $5M | |
| Common Stock | $8.0K | $7.0K | $4.0K | $3.0K | $3.0K | $3.0K | |
| Paid-in Capital | $1.08B | $844M | $559M | $408M | $389M | $371M | |
| Retained Earnings | $-598M | $-435M | $-306M | $-209M | $-104M | $-33M | |
| AOCI | $621.0K | $143.0K | $347.0K | $-2M | $-149.0K | · | |
| Stockholders' Equity | $479M | $409M | $254M | $198M | $285M | $338M | |
| Liabilities + Equity | $533M | $451M | $277M | $216M | $296M | $343M | |
| Shares Outstanding | 81,376,449 | 74,312,608 | 54,992,784 | 40,287,097 | 39,797,263 | 39,308,238 |
Cash Flow 9
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| D&A | $490.0K | $393.0K | $377.0K | $357.0K | $163.0K | $11.0K | |
| Stock-based Comp | $18M | $23M | $17M | $19M | $16M | $3M | |
| Other Non-cash | $-2M | $2M | $-5M | $4M | $4M | · | |
| Operating Cash Flow | $-147M | $-104M | $-84M | $-82M | $-51M | $-20M | |
| CapEx | · | $159.0K | · | $363.0K | $2M | $56.0K | |
| Investing Cash Flow | $-156M | $-94M | $-5M | $91M | $-275M | $-56.0K | |
| Financing Cash Flow | $211M | $269M | $133M | $476.0K | $1M | $358M | |
| Net Change in Cash | $-91M | $71M | $45M | $10M | $-325M | $338M | |
| Free Cash Flow | · | $-105M | · | $-82M | $-52M | · |
Profitability 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| ROA | -33.0% | -35.6% | -39.2% | -41.0% | -22.3% | · | |
| ROE | -39.4% | -42.6% | -36.5% | -50.5% | -24.3% | · | |
| ROIC | -37.3% | · | · | · | · | · |
Liquidity & Solvency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 10.0 | 10.5 | 12.3 | 12.6 | 32.2 | · | |
| Quick Ratio | 9.8 | 10.4 | 12.1 | 12.4 | 31.8 | · |
Valuation (TTM) 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Net Income TTM | $-162M | $-129M | $-97M | $-105M | $-71M | $-22M | |
| Market Cap | $2.03B | $433M | $772M | $99M | $373M | · | |
| P/E | -13.4 | -2.6 | -6.6 | -0.9 | -5.2 | -14.1 | |
| P/B | 4.3 | 1.1 | 3.0 | 0.5 | 1.3 | · | |
| P / Tangible Book | 4.3 | 1.1 | 3.0 | 0.5 | 1.3 | · | |
| P / Cash Flow | -13.9 | -4.2 | -9.2 | -1.2 | -7.3 | · | |
| P / FCF | · | -4.1 | · | -1.2 | -7.1 | · | |
| Earnings Yield | -7.5% | -37.7% | -15.2% | -106.9% | -19.2% | -7.1% |
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 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| R&D Expense | $58M | $49M | $43M | $40M | $44M | $31M | $32M | $33M | $29M | $30M | $26M | $19M | $18M | $23M | $22M | $18M | |
| SG&A Expense | $9M | $9M | $7M | $6M | $4M | $4M | $4M | $4M | $4M | $4M | $5M | $4M | $4M | $7M | $6M | $6M | |
| Operating Expenses | $67M | $58M | $50M | $46M | $48M | $35M | $37M | $38M | $34M | $34M | $30M | $23M | $22M | $30M | $27M | $23M | |
| Operating Income | $-67M | $-58M | $-50M | $-46M | $-48M | $-35M | $-37M | $-38M | $-34M | $-34M | $-30M | $-23M | $-22M | $-30M | $-27M | $-23M | |
| Interest Income | $5M | $5M | $4M | $4M | $4M | $5M | $3M | $3M | $3M | $3M | $4M | $2M | $2M | $1M | $973.0K | $622.0K | |
| Other Non-op | $-528.0K | $121.0K | $13.0K | $12.0K | $38.0K | $-40.0K | $-93.0K | $138.0K | $40.0K | $17.0K | $93.0K | $-79.0K | $-44.0K | $11.0K | $67.0K | $-120.0K | |
| Net Income | $-63M | $-53M | $-46M | $-42M | $-44M | $-30M | $-34M | $-35M | $-30M | $-31M | $-27M | $-22M | $-20M | $-28M | $-26M | $-23M | |
| EPS (Basic) | $-0.61 | $-0.52 | $-0.51 | $-0.49 | $-0.51 | $-0.36 | $-0.50 | $-0.60 | $-0.54 | $-0.56 | $-0.47 | $-0.48 | $-0.49 | $-0.70 | $-0.65 | $-0.57 | |
| EPS (Diluted) | $-0.61 | $-0.52 | $-0.51 | $-0.49 | $-0.51 | $-0.36 | $-0.50 | $-0.60 | $-0.54 | $-0.56 | $-0.47 | $-0.48 | $-0.49 | $-0.70 | $-0.65 | $-0.57 | |
| Shares (Basic) | 104,453,732 | 102,800,098 | -169,649,843 | 85,732,221 | 85,497,426 | 85,426,223 | -110,376,007 | 57,262,803 | 56,282,402 | 55,574,324 | -80,804,850 | 44,977,161 | 40,720,294 | 40,354,493 | -79,793,579 | 40,036,201 | |
| Shares (Diluted) | 104,453,732 | 102,800,098 | -169,649,843 | 85,732,221 | 85,497,426 | 85,426,223 | -110,376,007 | 57,262,803 | 56,282,402 | 55,574,324 | -80,804,850 | 44,977,161 | 40,720,294 | 40,354,493 | -79,793,579 | 40,036,201 | |
| EBITDA | $-67M | $-58M | · | $-46M | $-48M | $-35M | · | $-38M | $-34M | $-34M | · | $-23M | $-22M | $-30M | · | $-23M |
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 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $49M | $53M | $48M | $35M | $52M | $51M | $139M | $36M | $17M | $34M | $69M | $117M | $35M | $41M | $24M | $27M | |
| Short-term Investments | $412M | $453M | $457M | $294M | $309M | $342M | $295M | $179M | $222M | $215M | $193M | $159M | $132M | $145M | $181M | $196M | |
| Prepaid Expense | $9M | $8M | $10M | $5M | $6M | $4M | $4M | $3M | $3M | $3M | $5M | $5M | $4M | $3M | $4M | $2M | |
| Current Assets | $470M | $513M | $515M | $334M | $368M | $397M | $438M | $218M | $242M | $252M | $267M | $282M | $172M | $189M | $209M | $225M | |
| PP&E (Net) | $382.0K | $356.0K | $274.0K | $486.0K | $560.0K | $653.0K | $746.0K | $849.0K | $945.0K | $1M | $968.0K | $1M | $1M | $1M | $1M | $1M | |
| PP&E (Gross) | · | · | · | · | · | · | · | · | · | · | · | $2M | $2M | $2M | · | $2M | |
| Accum. Depreciation | · | · | · | · | · | · | · | · | · | · | · | $698.0K | $744.0K | $681.0K | · | $484.0K | |
| Other Non-current Assets | · | · | · | · | $15.0K | $14.0K | $15.0K | $15.0K | $16.0K | · | · | · | · | $3M | · | $3M | |
| Total Assets | $487M | $531M | $533M | $352M | $382M | $410M | $451M | $230M | $255M | $264M | $277M | $293M | $178M | $196M | $216M | $232M | |
| Accounts Payable | $2M | $4M | $9M | $3M | $934.0K | $151.0K | $4M | $3M | $4M | $8M | $3M | $2M | $2M | $681.0K | $374.0K | $14.0K | |
| Current Liabilities | $53M | $47M | $52M | $42M | $33M | $26M | $42M | $31M | $27M | $26M | $22M | $16M | $15M | $19M | $17M | $13M | |
| Capital Leases | $0 | $0 | $69.0K | $310.0K | $602.0K | $123.0K | $257.0K | $562.0K | $859.0K | $1M | $1M | $2M | $1M | $1M | $2M | $2M | |
| Total Liabilities | $56M | $50M | $55M | $45M | $37M | $26M | $42M | $31M | $27M | $27M | $23M | $18M | $16M | $21M | $18M | $14M | |
| Common Stock | $8.0K | $8.0K | $8.0K | $7.0K | $7.0K | $7.0K | $7.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $3.0K | $3.0K | $3.0K | $3.0K | |
| Paid-in Capital | $1.15B | $1.13B | $1.08B | $858M | $854M | $849M | $844M | $600M | $594M | $573M | $559M | $554M | $419M | $413M | $408M | $403M | |
| Retained Earnings | $-714M | $-651M | $-598M | $-551M | $-509M | $-465M | $-435M | $-402M | $-367M | $-337M | $-306M | $-279M | $-257M | $-237M | $-209M | $-183M | |
| AOCI | $-947.0K | $-460.0K | $621.0K | $526.0K | $314.0K | $420.0K | $143.0K | $464.0K | $-118.0K | $-10.0K | $347.0K | $-241.0K | $-518.0K | $-978.0K | $-2M | $-3M | |
| Stockholders' Equity | $431M | $480M | $479M | $307M | $345M | $383M | $409M | $199M | $227M | $236M | $254M | $275M | $162M | $175M | $198M | $218M | |
| Liabilities + Equity | $487M | $531M | $533M | $352M | $382M | $410M | $451M | $230M | $255M | $264M | $277M | $293M | $178M | $196M | $216M | $232M | |
| Shares Outstanding | 87,452,166 | 87,332,971 | 81,376,449 | 68,652,730 | 68,627,886 | 68,333,065 | 74,312,608 | 57,288,319 | 57,246,411 | 55,867,863 | 54,992,784 | 54,601,516 | 41,122,482 | 40,438,320 | 40,287,097 | 40,084,568 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $102.0K | $119.0K | $187.0K | $43.0K | $132.0K | $128.0K | $116.0K | $95.0K | $94.0K | $88.0K | $88.0K | $90.0K | $99.0K | $100.0K | $97.0K | $91.0K | |
| Stock-based Comp | $13M | $10M | $4M | $4M | $5M | $4M | $6M | $6M | $6M | $5M | $4M | $4M | $4M | $5M | $5M | $4M | |
| Other Non-cash | · | $-3M | · | · | · | $-18M | · | · | · | $2M | · | · | · | $3M | · | · | |
| Operating Cash Flow | $-46M | $-46M | $-38M | $-35M | $-30M | $-44M | $-26M | $-27M | $-28M | $-23M | $-18M | $-23M | $-22M | $-20M | $-20M | $-18M | |
| CapEx | · | · | · | $0 | · | · | $0 | $0 | $6.0K | $153.0K | · | · | · | · | $173.0K | $139.0K | |
| Investing Cash Flow | $41M | $5M | $-162M | $17M | $34M | $-45M | $-114M | $46M | $-5M | $-20M | $-31M | $-25M | $14M | $37M | $16M | $20M | |
| Financing Cash Flow | $1M | $46M | $214M | $41.0K | $-3M | $222.0K | $244M | $92.0K | $16M | $9M | $523.0K | $131M | $2M | $220.0K | $273.0K | $106.0K | |
| Net Change in Cash | $-4M | $4M | $13M | $-17M | $2M | $-89M | $104M | $19M | $-17M | $-35M | $-49M | $82M | $-6M | $17M | $-3M | $2M | |
| Free Cash Flow | · | · | · | · | · | · | · | · | · | $-24M | · | · | · | · | · | · |
Profitability 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 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROA | -14.5% | -11.3% | · | -14.5% | -13.8% | -9.0% | · | -13.2% | -14.1% | -13.5% | · | -8.2% | -9.4% | -12.0% | · | -8.4% | |
| ROE | -16.3% | -12.3% | · | -16.7% | -15.3% | -9.8% | · | -14.6% | -15.6% | -15.1% | · | -8.7% | -10.1% | -12.9% | · | -8.8% |
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 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 8.9 | 10.9 | · | 8.0 | 11.1 | 15.2 | · | 7.1 | 9.1 | 9.6 | · | 17.7 | 11.6 | 9.8 | · | 17.9 | |
| Quick Ratio | 8.7 | 10.7 | · | 7.9 | 10.9 | 15.1 | · | 7.0 | 9.0 | 9.5 | · | 17.3 | 11.3 | 9.6 | · | 17.7 |
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 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income TTM | $-202M | $-169M | · | $-151M | $-139M | $-126M | · | $-117M | $-103M | $-101M | · | $-93M | $-104M | $-107M | · | $-96M | |
| Market Cap | $1.09B | $1.30B | · | $672M | $292M | $257M | · | $684M | $619M | $632M | · | $674M | $371M | $140M | · | $111M | |
| P/E | -5.9 | -7.9 | · | -5.0 | -2.1 | -1.8 | · | -5.5 | -5.2 | -5.1 | · | -5.5 | -3.5 | -1.3 | · | -1.1 | |
| P/B | 2.5 | 2.7 | · | 2.2 | 0.8 | 0.7 | · | 3.4 | 2.7 | 2.7 | · | 2.5 | 2.3 | 0.8 | · | 0.5 | |
| P / Tangible Book | 2.5 | 2.7 | · | 2.2 | 0.8 | 0.7 | · | 3.4 | 2.7 | 2.7 | · | 2.5 | 2.3 | 0.8 | · | 0.5 | |
| P / Cash Flow | · | -28.3 | · | · | · | -5.8 | · | · | · | -26.9 | · | · | · | -6.9 | · | · | |
| P / FCF | · | · | · | · | · | · | · | · | · | -26.7 | · | · | · | · | · | · | |
| Earnings Yield | -17.0% | -12.6% | · | -20.0% | -47.2% | -54.8% | · | -18.3% | -19.1% | -19.7% | · | -18.1% | -28.6% | -77.0% | · | -87.7% |
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 | $-162M | $-129M | $-97M | $-105M | $-71M |
| Diluted EPS | $-1.87 | $-2.20 | $-2.14 | $-2.62 | $-1.80 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 10.0 | 10.5 | 12.3 | 12.6 | 32.2 |
| Quick Ratio | 9.8 | 10.4 | 12.1 | 12.4 | 31.8 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | — | $-105M | — | $-82M | $-52M |
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Institutional owners (13F) 201 filers · $1.1B 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 |
|---|---|---|---|---|
| 32 (-20 vs prior Q) | 37 (-10 vs prior Q) | 69 (-1 vs prior Q) | 61 (+6 vs prior Q) | +2.5M |
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 |
|---|---|---|---|---|
| FMR LLC | $109,938,906 | 8,788,082 | 10.35% | Shares |
| Paradigm Biocapital Advisors LP | $108,468,906 | 8,670,576 | 10.21% | Shares |
| Bain Capital Life Sciences Investors, LLC | $88,636,465 | 7,085,249 | 8.34% | Shares |
| VANGUARD GROUP INC | $81,312,975 | 3,252,519 | 7.65% | Shares |
| BVF INC/IL | $66,251,621 | 5,295,893 | 6.23% | Shares |
| Siren, L.L.C. | $60,760,432 | 4,856,949 | 5.72% | Shares |
| STATE STREET CORP | $53,993,886 | 4,316,058 | 5.08% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $41,798,625 | 3,341,217 | 3.93% | Shares |
| Logos Global Management LP | $40,143,026 | 3,208,875 | 3.78% | Shares |
| FRANKLIN RESOURCES INC | $29,375,482 | 2,348,160 | 2.76% | Shares |
| Cormorant Asset Management, LP | $26,896,500 | 2,150,000 | 2.53% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $20,806,857 | 1,663,218 | 1.96% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $19,640,235 | 1,569,659 | 1.85% | Shares |
| Deep Track Capital, LP | $18,765,000 | 1,500,000 | 1.77% | Shares |
| GOLDMAN SACHS GROUP INC | $17,828,551 | 1,425,144 | 1.68% | Shares |
| LIGHTSPEED MANAGEMENT COMPANY, L.L.C. | $16,954,790 | 1,355,299 | 1.60% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $16,685,012 | 1,333,734 | 1.57% | Shares |
| KINGDON CAPITAL MANAGEMENT, L.L.C. | $15,012,000 | 1,200,000 | 1.41% | Shares |
| TWO SIGMA INVESTMENTS, LP | $14,154,239 | 1,131,434 | 1.33% | Shares |
| Point72 Asset Management, L.P. | $13,397,572 | 1,070,949 | 1.26% | Shares |
| Defilade Capital Management, L.P. | $11,568,723 | 924,758 | 1.09% | Shares |
| AMERIPRISE FINANCIAL INC | $10,346,508 | 827,059 | 0.97% | Shares |
| Woodline Partners LP | $9,395,385 | 751,030 | 0.88% | Shares |
| Candriam S.C.A. | $9,387,633 | 751,133 | 0.88% | Shares |
| Vivo Capital, LLC | $8,404,756 | 671,843 | 0.79% | Shares |
| Qube Research & Technologies Ltd | $8,298,121 | 663,319 | 0.78% | Shares |
| Squarepoint Ops LLC | $7,699,530 | 615,470 | 0.72% | Shares |
| READYSTATE ASSET MANAGEMENT LP | $7,428,801 | 593,829 | 0.70% | Shares |
| Jones Hill Capital LP | $7,182,817 | 574,166 | 0.68% | Shares |
| Hudson Bay Capital Management LP | $7,085,664 | 566,400 | 0.67% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $6,484,458 | 518,342 | 0.61% | Shares |
| CITADEL ADVISORS LLC | $5,710,252 | 456,455 | 0.54% | Shares |
| Vestal Point Capital, LP | $5,236,073 | 418,551 | 0.49% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $5,192,338 | 415,055 | 0.49% | Shares |
| Ikarian Capital, LLC | $4,794,845 | 383,281 | 0.45% | Shares |
| SEB Asset Management AB | $4,246,649 | 339,461 | 0.40% | Shares |
| Fisher Asset Management, LLC | $3,712,015 | 296,724 | 0.35% | Shares |
| BANK OF AMERICA CORP /DE/ | $3,148,342 | 251,666 | 0.30% | Shares |
| Rock Springs Capital Management LP | $2,942,077 | 235,178 | 0.28% | Shares |
| Pier Capital, LLC | $2,760,944 | 220,699 | 0.26% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $2,589,432 | 206,989 | 0.24% | Shares |
| Ikarian Capital, LLC | $2,502,000 | 200,000 | 0.24% | Call option |
| Birchview Capital, LP | $2,489,490 | 199,000 | 0.23% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $2,280,573 | 182,300 | 0.21% | Put option |
| FIDEURAM - INTESA SANPAOLO PRIVATE BANKING S.P.A. | $2,024,566 | 161,836 | 0.19% | Shares |
| HighVista Strategies LLC | $2,003,689 | 160,167 | 0.19% | Shares |
| Susquehanna Portfolio Strategies, LLC | $1,847,339 | 147,669 | 0.17% | Shares |
| BOOTHBAY FUND MANAGEMENT, LLC | $1,784,051 | 142,610 | 0.17% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $1,665,769 | 133,155 | 0.16% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,563,150 | 124,952 | 0.15% | Shares |
| ALLIANCEBERNSTEIN L.P. | $1,530,810 | 102,670 | 0.14% | Shares |
| CITIGROUP INC | $1,514,173 | 121,037 | 0.14% | Shares |
| SCHRODER INVESTMENT MANAGEMENT GROUP | $1,393,142 | 114,192 | 0.13% | Shares |
| TD Asset Management Inc | $1,328,737 | 106,214 | 0.13% | Shares |
| Swiss National Bank | $1,313,550 | 105,000 | 0.12% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,297,287 | 103,700 | 0.12% | Call option |
| Integral Health Asset Management, LLC | $1,251,000 | 100,000 | 0.12% | Shares |
| RHUMBLINE ADVISERS | $1,245,110 | 99,530 | 0.12% | Shares |
| Trexquant Investment LP | $1,156,074 | 92,412 | 0.11% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $1,125,775 | 89,990 | 0.11% | Shares |
| XTX Topco Ltd | $1,119,958 | 89,525 | 0.11% | Shares |
| TEMA ETFS LLC | $1,112,625 | 44,505 | 0.10% | Shares |
| ALPS ADVISORS INC | $1,108,999 | 88,649 | 0.10% | Shares |
| Bank of New York Mellon Corp | $1,071,482 | 85,650 | 0.10% | Shares |
| BlackRock, Inc. | $1,070,956 | 85,608 | 0.10% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $1,026,195 | 82,030 | 0.10% | Shares |
| ALGERT GLOBAL LLC | $1,012,409 | 80,928 | 0.10% | Shares |
| FEDERATED HERMES, INC. | $966,598 | 77,266 | 0.09% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $960,893 | 76,810 | 0.09% | Shares |
| Rafferty Asset Management, LLC | $944,780 | 75,522 | 0.09% | Shares |
| ExodusPoint Capital Management, LP | $877,476 | 70,142 | 0.08% | Shares |
| WELLS FARGO & COMPANY/MN | $833,691 | 66,642 | 0.08% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $827,699 | 66,163 | 0.08% | Shares |
| NOMURA HOLDINGS INC | $825,660 | 66,000 | 0.08% | Put option |
| LPL Financial LLC | $737,352 | 58,941 | 0.07% | Shares |
| Quantinno Capital Management LP | $699,046 | 55,879 | 0.07% | Shares |
| CITADEL ADVISORS LLC | $691,803 | 55,300 | 0.07% | Call option |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC | $689,564 | 55,121 | 0.06% | Shares |
| Swedbank AB | $689,301 | 55,100 | 0.06% | Shares |
| BOOTHBAY FUND MANAGEMENT, LLC | $688,050 | 55,000 | 0.06% | Call option |
| Engineers Gate Manager LP | $669,961 | 53,554 | 0.06% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $626,000 | 50,000 | 0.06% | Shares |
| PORTLAND INVESTMENT COUNSEL INC. | $625,500 | 50,000 | 0.06% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $582,668 | 39,079 | 0.05% | Shares |
| MetLife Investment Management, LLC | $581,715 | 46,500 | 0.05% | Shares |
| Headlands Technologies LLC | $515,937 | 41,242 | 0.05% | Shares |
| NOMURA HOLDINGS INC | $505,404 | 40,400 | 0.05% | Call option |
| PRUDENTIAL FINANCIAL INC | $494,896 | 39,560 | 0.05% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $482,811 | 38,594 | 0.05% | Shares |
| PROFUND ADVISORS LLC | $479,871 | 38,359 | 0.05% | Shares |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | $469,901 | 37,562 | 0.04% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $451,586 | 36,098 | 0.04% | Shares |
| JANUS HENDERSON GROUP PLC | $450,716 | 30,219 | 0.04% | Shares |
| Aristotle Atlantic Partners, LLC | $448,609 | 35,860 | 0.04% | Shares |
| NOMURA HOLDINGS INC | $423,539 | 33,856 | 0.04% | Shares |
| Virtus Investment Advisers, LLC | $414,707 | 33,150 | 0.04% | Shares |
| JANE STREET GROUP, LLC | $401,571 | 32,100 | 0.04% | Call option |
| Seven Fleet Capital Management LP | $393,765 | 31,476 | 0.04% | Shares |
| Invesco Ltd. | $389,224 | 31,113 | 0.04% | Shares |
| Caption Management, LLC | $375,300 | 30,000 | 0.04% | Call option |
Company insiders 19 insiders · 7 officers · 12 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Sean Bohen | President and CEO | Feb. 1, 2023 A | 51,649 | 0 | 0 | $0 |
| Naseem Zojwalla | Chief Medical Officer | Feb. 1, 2023 A | — | 0 | 0 | $0 |
| David C. Myles | Chief Development Officer | Feb. 1, 2023 A | 154,846 | 0 | 0 | $0 |
| Kinney Horn | Chief Business Officer | Feb. 1, 2023 A | — | 0 | 0 | $0 |
| Shane William Charles Kovacs | Ch. Operating & Financial Off. | Feb. 1, 2023 A | 358,680 | 0 | 0 | $0 |
| John B Moriarty | EVP, Ch. Legal Officer & Sec. | Feb. 1, 2023 A | — | 0 | 0 | $0 |
| Peter J. Kushner | Chief Scientific Officer | Nov. 23, 2020 C | 1,431,672 | 0 | 0 | $0 |
| Cyrus Harmon | Director | July 24, 2026 S | 702,770 | 0 | 2 | $-291,125 |
| Prakash Raman | Director | June 18, 2026 A | — | 0 | 0 | $0 |
| Hrustanovic Gorjan | Director | June 18, 2026 A | — | 0 | 0 | $0 |
| Yi Larson | Director | June 18, 2026 A | — | 0 | 0 | $0 |
| Graham Walmsley | Director | June 18, 2026 A | 700,761 | 0 | 0 | $0 |
| Sandra Horning | Director | June 18, 2026 A | — | 0 | 0 | $0 |
| Scott J. Garland | Director | June 18, 2026 A | — | 0 | 0 | $0 |
| Ian T Clark | Director | June 18, 2026 A | 0 | 0 | 3 | $-7,873,109 |
| Cynthia M Butitta | Director | June 18, 2026 A | 83,876 | 0 | 0 | $0 |
| Andrew Rappaport | Director | June 18, 2026 A | 0 | 0 | 0 | $0 |
| Frank Mccormick | Director | Nov. 23, 2020 C | 84,260 | 0 | 0 | $0 |
| Wellington Biomedical Innovation Master Investors (Cayman) I L.P. | 10% owner | Nov. 23, 2020 C | 1,725,406 | 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 |
|---|---|---|---|---|---|
| Logos Global Management LP, Logos Global Management GP LLC, Arsani William, Graham Walmsley, Logos Opportunities GP LLC, Logos GP LLC ×4 filings | May 13, 2025 | 4.70% | Amendment | Passive investment | SEC |
| BIOTECHNOLOGY VALUE FUND, L.P., BVF I GP LLC, BIOTECHNOLOGY VALUE FUND II, L.P., BVF II GP LLC, BIOTECHNOLOGY VALUE TRADING FUND OS, L.P., BVF PARTNERS OS LTD., BVF GP HOLDINGS LLC, BVF PARTNERS L.P., BVF INC., MARK N. LAMPERT, GORJAN HRUSTANOVIC ×4 filings | Dec. 4, 2024 | — | 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 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 |
|---|---|---|---|---|
| SBIO · ALPS ETF Trust | 0.66% | 81,077 NS | May 31, 2026 | N-PORT |
| CANC · Tema ETF Trust | 0.60% | 79,759 NS | May 31, 2026 | N-PORT |
| LABU · Direxion Shares ETF Trust | 0.39% | 141,558 NS | April 30, 2026 | N-PORT |
| FMED · Fidelity Covington Trust | 0.36% | 11,250 NS | May 31, 2026 | N-PORT |
| BBC · ETFis Series Trust I | 0.32% | 8,351 NS | April 30, 2026 | N-PORT |
| IWC · iShares Trust | 0.21% | 266,015 SH | Aug. 8, 2026 | Daily |
| VFMO · VANGUARD WELLINGTON FUND | 0.11% | 180,516 SH | Aug. 8, 2026 | Daily |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.07% | 4,753 SH | Aug. 8, 2026 | Daily |
| IBB · iShares Trust | 0.06% | 515,376 SH | Aug. 8, 2026 | Daily |
| BIB · ProShares Trust | 0.05% | 2,962 NS | May 31, 2026 | N-PORT |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.05% | 56,779 SH | Aug. 8, 2026 | Daily |
| IWN · iShares Trust | 0.05% | 606,631 SH | Aug. 8, 2026 | Daily |
| FFSM · FIDELITY COVINGTON TRUST | 0.04% | 40,123 NS | April 30, 2026 | N-PORT |
| RSSL · Global X Funds | 0.03% | 30,271 NS | April 30, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.03% | 451,269 SH | Aug. 8, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.03% | 71,008 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.03% | 2,004,959 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.03% | 284,227 NS | April 30, 2026 | N-PORT |
| GSSC · Goldman Sachs ETF Trust | 0.03% | 18,801 NS | May 31, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.02% | 3,287 NS | May 31, 2026 | N-PORT |
| ISCV · iShares Trust | 0.01% | 8,558 SH | Aug. 8, 2026 | Daily |
| SCHA · SCHWAB STRATEGIC TRUST | 0.01% | 247,403 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.01% | 2,571 NS | May 31, 2026 | N-PORT |
| ISCB · iShares Trust | 0.01% | 2,951 SH | Aug. 8, 2026 | Daily |
| ISCG · iShares Trust | 0.01% | 8,602 SH | Aug. 8, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 652,061 SH | Aug. 8, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.01% | 14,261 SH | Aug. 8, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.01% | 157,394 SH | Aug. 8, 2026 | Daily |
| URTY · ProShares Trust | 0.01% | 2,602 NS | May 31, 2026 | N-PORT |
| IWO · iShares Trust | 0.01% | 121,187 SH | Aug. 8, 2026 | Daily |
| FHLC · FIDELITY COVINGTON TRUST | 0.01% | 17,308 NS | April 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 2,374 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 65 NS | May 31, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.00% | 1,110 NS | April 30, 2026 | N-PORT |
| WSML · iShares Trust | 0.00% | 2,299 SH | Aug. 8, 2026 | Daily |
| DCOR · Dimensional ETF Trust | 0.00% | 6,974 NS | April 30, 2026 | N-PORT |
| ONEQ · Fidelity Commonwealth Trust | 0.00% | 23,513 NS | May 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 21,603 NS | April 30, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 75,925 NS | April 30, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 16,063 NS | April 30, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 79,886 SH | Aug. 8, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 17,373 SH | Aug. 8, 2026 | Daily |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 28,000 NS | May 31, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 2,611,290 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 7,103 SH | Aug. 8, 2026 | Daily |