ORKA Oruka Therapeutics, Inc. - Common Stock
ORKA Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
ORKA Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Financial Health Debt, liquidity, solvency — balance sheet strength
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Dividends Yield, payout ratio, dividend history, 5Y CAGR
| Ex-date | Amount |
|---|---|
| Aug. 29, 2024 | $19.3560 |
ORKA Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 9 45.0%
- Buy 10 50.0%
- Hold 1 5.0%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
12 analysts · 2026-08-17Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.55 | $-0.53 | -0.02% |
| March 31, 2026 | $-0.48 | $-0.56 | 0.08% |
| Dec. 31, 2025 | $-0.45 | $-0.64 | 0.19% |
| Sept. 30, 2025 | $-0.55 | $-0.59 | 0.04% |
| June 30, 2025 | $-0.46 | $-0.50 | 0.04% |
| March 31, 2025 | $-0.40 | $-0.52 | 0.12% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| ORKA | $1.48B | -3.3 | — | — | -25.9% | — |
| IBRX | $2.00B | -5.2 | 668.3% | -310.2% | 71.0% | — |
| RYTM | $7.19B | -34.4 | 45.8% | -103.6% | -309.1% | — |
| TGTX | $4.63B | 10.8 | 87.3% | 72.6% | 96.7% | — |
| CGON | $3.35B | -20.0 | 254.7% | -3985.0% | -22.6% | — |
| SRRK | $4.78B | -13.4 | — | — | -157.9% | — |
| MIRM | $4.10B | -168.1 | 54.7% | -4.5% | -8.2% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | · | · | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| R&D Expense | $101M | $75M | $1M | $5M | $14M | $5M | $2M | $4M | $14M | $12M | $7M | |
| SG&A Expense | $21M | $13M | $6M | $6M | $6M | $5M | $4M | $4M | $5M | $4M | $4M | |
| Operating Expenses | $122M | $88M | $7M | $11M | $19M | $10M | $6M | $8M | $19M | $17M | $11M | |
| Operating Income | $-122M | $-88M | $-7M | $-11M | $-19M | $-10M | $-6M | $-8M | $-19M | $-17M | $-11M | |
| Interest Expense | · | · | · | · | · | $9.0K | $7.0K | $8.0K | $6.0K | · | $4.0K | |
| Interest Income | $17M | $6M | · | · | · | · | · | · | · | · | · | |
| Other Non-op | $-12.0K | $4.0K | · | · | · | · | · | · | · | · | · | |
| Pretax Income | $-105M | $-84M | · | · | $-19M | $-10M | $-6M | $-8M | $-19M | $-16M | · | |
| Income Tax | · | · | $0 | $0 | $0 | $-9.0K | $-167.0K | $-31.0K | $-61.0K | $0 | $0 | |
| Net Income | $-105M | $-84M | $-5M | $-10M | $-19M | $-10M | $-5M | $-8M | $-18M | $-16M | $-11M | |
| EPS (Basic) | · | $-3.87 | $-0.37 | $-0.69 | $-1.39 | · | · | · | · | · | · | |
| EPS (Diluted) | · | $-3.87 | $-0.37 | $-0.69 | $-1.39 | · | · | · | · | · | · | |
| Shares (Basic) | · | 16,789,362 | 14,415,877 | 14,410,143 | 13,903,871 | · | · | · | · | · | · | |
| Shares (Diluted) | · | 16,789,362 | 14,415,877 | 14,410,143 | 13,903,871 | · | · | · | · | · | · | |
| EBITDA | $-122M | $-88M | $-7M | $-11M | $-19M | $-10M | $-6M | $-8M | $-19M | $-17M | $-11M |
Balance Sheet 21
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $47M | $62M | $37M | $42M | $53M | $49M | $8M | $7M | $9M | $7M | $39M | |
| Short-term Investments | $290M | $314M | · | · | · | · | · | · | · | · | · | |
| Prepaid Expense | $7M | $1M | · | · | · | · | · | · | · | · | · | |
| Other Current Assets | · | · | $161.0K | $254.0K | $1M | $897.0K | $117.0K | $169.0K | $547.0K | $282.0K | $114.0K | |
| Current Assets | $344M | $377M | $38M | $43M | $54M | $50M | $8M | $7M | $12M | $21M | $39M | |
| PP&E (Net) | $288.0K | $162.0K | $10.0K | $25.0K | $48.0K | $21.0K | $10.0K | $24.0K | $42.0K | $66.0K | $28.0K | |
| PP&E (Gross) | · | · | $222.0K | $229.0K | $243.0K | $271.0K | $377.0K | $398.0K | $443.0K | $453.0K | $415.0K | |
| Accum. Depreciation | · | · | $212.0K | $204.0K | $195.0K | $250.0K | $367.0K | $374.0K | $401.0K | $387.0K | $387.0K | |
| Other Non-current Assets | $103.0K | $43.0K | $12.0K | $18.0K | $18.0K | $12.0K | $24.0K | $24.0K | $24.0K | $766.0K | $630.0K | |
| Total Assets | $489M | $396M | $38M | $43M | $55M | $50M | $9M | $7M | $12M | $25M | $40M | |
| Accounts Payable | · | · | $362.0K | $334.0K | $1M | $2M | $418.0K | $230.0K | $622.0K | $1M | $364.0K | |
| Current Liabilities | $15M | $13M | $637.0K | $1M | $3M | $3M | $926.0K | $793.0K | $2M | $2M | $2M | |
| Capital Leases | $1M | $755.0K | $204.0K | $280.0K | $383.0K | $409.0K | · | · | · | · | · | |
| Total Liabilities | $17M | $14M | $841.0K | $1M | $4M | $4M | $926.0K | $793.0K | $2M | $2M | $2M | |
| Common Stock | $49.0K | $37.0K | $14.0K | $14.0K | $14.0K | $10.0K | $2.0K | $1.0K | $12.0K | $9.0K | $9.0K | |
| Paid-in Capital | $658M | $463M | · | · | · | · | · | · | · | · | · | |
| Retained Earnings | $-189M | $-84M | $-189M | $-183M | $-173M | $-154M | $-144M | $-139M | $-131M | $-113M | $-96M | |
| AOCI | $546.0K | $-41.0K | · | · | · | · | · | · | $-2.0K | $-19.0K | · | |
| Stockholders' Equity | $472M | $382M | $37M | $42M | $51M | $47M | $8M | $6M | $10M | $22M | $38M | |
| Liabilities + Equity | $489M | $396M | $38M | $43M | $55M | $50M | $9M | $7M | $12M | $25M | $40M | |
| Shares Outstanding | 48,722,309 | 37,440,510 | 14,501,143 | 14,410,143 | 14,410,143 | 9,548,150 | 1,594,070 | 773,558 | 654,170 | 9,082,366 | 9,051,217 |
Cash Flow 11
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | $15.0K | $20.0K | $16.0K | $8.0K | $18.0K | $22.0K | $27.0K | $24.0K | $19.0K | |
| Stock-based Comp | $24M | $15M | $686.0K | $556.0K | $497.0K | $43.0K | $151.0K | $273.0K | $458.0K | $576.0K | $599.0K | |
| Operating Cash Flow | $-88M | $-58M | $-5M | $-11M | $-19M | $-8M | $-5M | $-8M | $-17M | $-15M | $-11M | |
| CapEx | $209.0K | $189.0K | $0 | $2.0K | $43.0K | $19.0K | $4.0K | $4.0K | $3.0K | $12.0K | $11.0K | |
| Investing Cash Flow | $-97M | $-330M | $0 | $-2.0K | $-43.0K | $-19.0K | $-4.0K | $3M | $13M | · | · | |
| Stock Issued | $671.0K | $54.0K | · | · | $24M | $51M | $7M | $4M | $7M | · | $37M | |
| Net Stock Activity | $671.0K | $54.0K | · | · | $24M | $51M | $7M | $4M | $7M | · | $37M | |
| Financing Cash Flow | $170M | $450M | $0 | $0 | $23M | $48M | $7M | $3M | $6M | · | · | |
| Net Change in Cash | · | · | $-5M | $-11M | $4M | $41M | $2M | $-2M | $1M | · | · | |
| Free Cash Flow | $-88M | $-58M | $-5M | $-11M | $-19M | $-8M | $-5M | $-8M | $-17M | $-15M | $-11M | |
| Levered FCF | · | · | · | · | · | $-8M | $-5M | $-8M | $-17M | · | · |
Profitability 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROA | -23.8% | -42.3% | -13.2% | -20.3% | -36.7% | -33.0% | -71.4% | -82.7% | -100.0% | -51.2% | -41.1% | |
| ROE | -25.9% | -23.1% | -14.2% | -23.5% | -35.9% | -20.1% | -66.8% | -117.6% | -150.2% | -54.6% | -43.3% | |
| ROIC | · | · | · | · | · | -21.0% | -74.1% | -134.1% | -181.5% | · | · |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 22.4 | 28.9 | 59.0 | 37.7 | 15.6 | 14.3 | 9.2 | 8.5 | 5.9 | 9.0 | 25.9 | |
| Quick Ratio | 21.9 | 28.8 | 58.8 | 37.5 | 15.3 | 14.0 | 9.0 | 8.3 | 4.2 | 3.1 | 25.8 | |
| Interest Coverage | · | · | · | · | · | -1085.1 | -830.6 | -1014.8 | -3118.7 | · | -2863.8 |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | · | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Valuation (TTM) 9
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | · | · | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Net Income TTM | $-105M | $-84M | $-5M | $-10M | $-19M | $-10M | $-5M | $-8M | $-18M | $-16M | $-11M | |
| Market Cap | $1.48B | $726M | $296M | $410M | $372M | $459M | $109M | $993M | $3.43B | $5.59B | $9.09B | |
| P/E | -3.3 | -5.0 | -55.1 | -41.2 | -18.6 | · | · | · | · | · | · | |
| P/B | 3.1 | 1.9 | 8.0 | 9.8 | 7.3 | 9.9 | 14.4 | 164.5 | 334.2 | 251.9 | 238.8 | |
| P / Tangible Book | 3.1 | 1.9 | 8.0 | 9.8 | 7.3 | 9.9 | · | · | · | · | · | |
| P / Cash Flow | -16.7 | -12.6 | -59.0 | -37.6 | -19.8 | -59.5 | -22.8 | -120.4 | -196.5 | -373.1 | -863.0 | |
| P / FCF | -16.7 | -12.5 | -59.0 | -37.6 | -19.8 | -59.3 | -22.7 | -120.3 | -196.5 | -372.8 | -862.1 | |
| Earnings Yield | -30.6% | -20.0% | -1.8% | -2.4% | -5.4% | · | · | · | · | · | · |
Income Statement 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | · | · | · | · | · | · | · | · | $0 | $0 | $0 | $0 | $0 | $0 | · | $0 | |
| R&D Expense | $43M | $29M | $28M | $29M | $24M | $20M | $31M | $26M | $19M | $165.0K | $47.0K | $322.0K | $254.0K | $390.0K | $61.0K | $1M | |
| SG&A Expense | $7M | $7M | $7M | $5M | $4M | $5M | $4M | $4M | $3M | $2M | $2M | $2M | $2M | $1M | $1M | $2M | |
| Operating Expenses | $50M | $36M | $34M | $34M | $28M | $25M | $35M | $29M | $21M | $2M | $2M | $2M | $2M | $2M | $2M | $3M | |
| Operating Income | $-50M | $-36M | $-34M | $-34M | $-28M | $-25M | $-35M | $-29M | $-21M | $-2M | $-2M | $-2M | $-2M | $-2M | $-2M | $-3M | |
| Interest Income | $9M | $5M | $5M | $4M | $4M | $4M | · | $1M | · | · | · | · | · | · | · | · | |
| Other Non-op | $4.0K | $8.0K | $-12M | $4M | $-2.0K | $-5.0K | · | $826.0K | $-750.0K | · | · | · | · | · | · | · | |
| Net Income | $-41M | $-32M | $-30M | $-30M | $-25M | $-21M | $-31M | $-29M | $-22M | $-2M | $-1M | $-1M | $-1M | $-1M | $-1M | $-2M | |
| EPS (Basic) | · | · | · | · | $-0.46 | $-0.40 | · | $-1.46 | $-6.96 | $-0.14 | $-0.08 | $-0.10 | $-0.10 | $-0.09 | $-0.08 | $-0.16 | |
| EPS (Diluted) | · | · | · | · | $-0.46 | $-0.40 | · | $-1.46 | $-6.96 | $-0.14 | $-0.08 | $-0.10 | $-0.10 | $-0.09 | $-0.08 | $-0.16 | |
| Shares (Basic) | · | · | · | · | 42,095,951 | 41,679,560 | · | 15,013,655 | 3,197,975 | 14,501,143 | -28,814,552 | 14,410,143 | 14,410,143 | 14,410,143 | -28,820,286 | 14,410,143 | |
| Shares (Diluted) | · | · | · | · | 42,095,951 | 41,679,560 | · | 15,013,655 | 3,197,975 | 14,501,143 | -28,814,552 | 14,410,143 | 14,410,143 | 14,410,143 | -28,820,286 | 14,410,143 | |
| EBITDA | $-50M | $-36M | · | $-34M | $-28M | $-25M | · | $-29M | $-3M | $-2M | · | $-2M | $-2M | $-2M | · | $-3M |
Balance Sheet 21
| 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 | $268M | $50M | $47M | $91M | $65M | $84M | $62M | $411M | $33M | $36M | $37M | $38M | $40M | $41M | $42M | $44M | |
| Short-term Investments | $605M | $339M | $290M | $258M | $263M | $266M | $314M | · | · | · | · | · | · | · | · | · | |
| Prepaid Expense | $11M | $6M | $7M | $6M | $4M | $3M | $1M | $2M | · | · | · | · | · | · | · | · | |
| Other Current Assets | · | · | · | · | · | · | · | · | $537.0K | $767.0K | $161.0K | $405.0K | $599.0K | $852.0K | $254.0K | $611.0K | |
| Current Assets | $885M | $395M | $344M | $355M | $332M | $352M | $377M | $413M | $34M | $37M | $38M | $39M | $41M | $42M | $43M | $45M | |
| PP&E (Net) | $275.0K | $318.0K | $288.0K | $253.0K | $174.0K | $159.0K | $162.0K | $160.0K | $4.0K | $7.0K | $10.0K | $13.0K | $17.0K | $21.0K | $25.0K | $30.0K | |
| PP&E (Gross) | · | · | · | · | · | · | · | · | $222.0K | $222.0K | $222.0K | $229.0K | $229.0K | $229.0K | $229.0K | $231.0K | |
| Accum. Depreciation | · | · | · | · | · | · | · | · | $218.0K | $215.0K | $212.0K | $216.0K | $212.0K | $208.0K | $204.0K | $201.0K | |
| Other Non-current Assets | $128.0K | $103.0K | $103.0K | $103.0K | $103.0K | $103.0K | $43.0K | $43.0K | $12.0K | $12.0K | $12.0K | $12.0K | $18.0K | $18.0K | $18.0K | $18.0K | |
| Total Assets | $1.14B | $504M | $489M | $509M | $357M | $377M | $396M | $414M | $34M | $37M | $38M | $39M | $41M | $42M | $43M | $45M | |
| Accounts Payable | · | · | · | · | · | · | · | · | $571.0K | $529.0K | $362.0K | $322.0K | $241.0K | $366.0K | $334.0K | $593.0K | |
| Current Liabilities | $23M | $17M | $15M | $21M | $12M | $12M | $13M | $18M | $1M | $2M | $637.0K | $992.0K | $2M | $1M | $1M | $2M | |
| Capital Leases | $2M | $1M | $1M | $1M | $2M | $664.0K | $755.0K | $842.0K | $0 | $0 | $204.0K | $224.0K | $243.0K | $262.0K | $280.0K | $301.0K | |
| Total Liabilities | $25M | $18M | $17M | $22M | $14M | $12M | $14M | $19M | $1M | $2M | $841.0K | $1M | $2M | $2M | $1M | $2M | |
| Common Stock | $61.0K | $50.0K | $49.0K | $48.0K | $37.0K | $37.0K | $37.0K | $35.0K | $14.0K | $14.0K | $14.0K | $14.0K | $14.0K | $14.0K | $14.0K | $14.0K | |
| Paid-in Capital | $1.38B | $705M | $658M | $643M | $470M | $466M | $463M | $397M | · | · | · | · | · | · | · | · | |
| Retained Earnings | $-262M | $-221M | $-189M | $-160M | $-129M | $-105M | $-84M | $-58M | $-193M | $-191M | $-189M | $-188M | $-186M | $-185M | $-183M | $-182M | |
| AOCI | $-2M | $-480.0K | $546.0K | $185.0K | $-27.0K | $-6.0K | $-41.0K | · | · | · | · | · | · | · | · | · | |
| Stockholders' Equity | $1.11B | $487M | $472M | $487M | $344M | $365M | $382M | $342M | $33M | $35M | $37M | $38M | $39M | $41M | $42M | $43M | |
| Liabilities + Equity | $1.14B | $504M | $489M | $509M | $357M | $377M | $396M | $414M | $34M | $37M | $38M | $39M | $41M | $42M | $43M | $45M | |
| Shares Outstanding | 61,069,887 | 50,167,623 | 48,722,309 | 48,384,150 | 37,450,745 | 37,440,510 | 37,440,510 | 34,998,550 | 14,507,143 | 14,501,143 | 14,501,143 | 14,410,143 | 14,410,143 | 14,410,143 | 14,410,143 | 14,410,143 |
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 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | · | · | · | · | · | · | $3.0K | $3.0K | $3.0K | $4.0K | $4.0K | $4.0K | $5.0K | $4.0K | |
| Stock-based Comp | $7M | $7M | $4M | $10M | $5M | $5M | · | $9M | $112.0K | $114.0K | $141.0K | $154.0K | $187.0K | $204.0K | $120.0K | $97.0K | |
| Operating Cash Flow | $-33M | $-24M | $-23M | $-22M | $-23M | $-21M | · | · | $-3M | $-2M | $-1M | $-2M | $-694.0K | $-2M | $-1M | $-2M | |
| CapEx | $0 | $73.0K | $63.0K | $99.0K | $34.0K | $13.0K | · | · | · | · | · | · | · | · | $0 | $0 | |
| Investing Cash Flow | $-411M | $-14M | $-22M | $-122M | $5M | $43M | · | · | $0 | $0 | · | · | $0 | $0 | $0 | $0 | |
| Stock Issued | $4M | $2M | $562.0K | $0 | · | · | · | · | · | · | · | · | · | · | · | · | |
| Net Stock Activity | · | $2M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $663M | $41M | $298.0K | $170M | · | · | · | · | $14.0K | $0 | · | · | $0 | $0 | · | · | |
| Net Change in Cash | · | · | · | · | · | · | · | · | $-3M | $-2M | $-1M | $-2M | $-694.0K | $-2M | $-1M | $-2M | |
| Free Cash Flow | · | $-24M | · | · | · | $-21M | · | · | · | · | · | · | · | · | · | · |
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 | -5.5% | -7.2% | · | -6.6% | -12.6% | -10.2% | · | -12.6% | -6.5% | -5.2% | · | -3.4% | · | -2.9% | · | -4.4% | |
| ROE | -5.7% | -7.5% | · | -7.3% | -13.1% | -10.5% | · | -15.0% | -6.9% | -5.4% | · | -3.5% | · | -3.0% | · | -4.7% |
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 | 38.5 | 23.8 | · | 16.9 | 27.4 | 30.0 | · | 22.9 | 26.6 | 23.2 | · | 39.2 | · | 32.9 | · | 23.0 | |
| Quick Ratio | 38.0 | 23.4 | · | 16.7 | 27.1 | 29.8 | · | 22.8 | 26.2 | 22.7 | · | 38.8 | · | 32.3 | · | 22.7 |
Efficiency 1
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | · | · | · | · | · | · | · | · | 0.0 | · | · | · | 0.0 | · | · |
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 | $-128M | $-108M | · | $-104M | $-96M | $-74M | · | $-54M | $-27M | $-6M | · | $-5M | $-6M | $-8M | · | $-14M | |
| Market Cap | $5.81B | $2.46B | · | $930M | $420M | $384M | · | $858M | $667M | $306M | · | $348M | · | $344M | · | $356M | |
| P/E | -10.3 | -5.3 | · | -2.1 | -1.2 | -1.1 | · | -2.8 | -6.3 | -49.1 | · | -53.6 | -42.7 | -34.1 | · | -26.3 | |
| P/B | 5.2 | 5.1 | · | 1.9 | 1.2 | 1.1 | · | 2.5 | 20.5 | 8.7 | · | 9.2 | · | 8.5 | · | 8.3 | |
| P / Tangible Book | 5.2 | 5.1 | · | 1.9 | 1.2 | 1.1 | · | 2.5 | 20.5 | 8.7 | · | 9.2 | · | 8.5 | · | 8.3 | |
| P / Cash Flow | · | -104.4 | · | · | · | -18.4 | · | · | · | -200.4 | · | · | · | -215.7 | · | · | |
| P / FCF | · | -104.0 | · | · | · | -18.4 | · | · | · | · | · | · | · | · | · | · | |
| Earnings Yield | -9.8% | -18.9% | · | -48.3% | -82.8% | -87.3% | · | -35.3% | -15.9% | -2.0% | · | -1.9% | -2.3% | -2.9% | · | -3.8% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2024-02-06 | 2023-12-31 | 2022-12-31 | |
|---|---|---|---|---|---|
| Revenue | — | — | — | $0 | $0 |
| Net Income | $-105M | $-84M | — | $-5M | $-10M |
| Diluted EPS | — | $-3.87 | — | $-0.37 | $-0.69 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2024-02-06 | 2023-12-31 | 2022-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 22.4 | 28.9 | — | 59.0 | 37.7 |
| Quick Ratio | 21.9 | 28.8 | — | 58.8 | 37.5 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2024-02-06 | 2023-12-31 | 2022-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-88M | $-58M | — | $-5M | $-11M |
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Institutional owners (13F) 265 filers · $5.6B 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.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 108 (+50 vs prior Q) | 25 (+7 vs prior Q) | 84 (+28 vs prior Q) | 50 (+14 vs prior Q) | +20.0M |
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 | $674,010,785 | 7,082,177 | 11.93% | Shares |
| Venrock Adviser, LLC | $394,805,893 | 4,148,428 | 6.99% | Shares |
| Fairmount Funds Management LLC | $352,629,785 | 3,705,262 | 6.24% | Shares |
| Capital World Investors | $323,733,984 | 3,401,639 | 5.73% | Shares |
| RTW INVESTMENTS, LP | $298,741,485 | 3,139,030 | 5.29% | Shares |
| STATE STREET CORP | $254,384,117 | 2,673,090 | 4.50% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $224,693,610 | 2,360,971 | 3.98% | Shares |
| Paradigm Biocapital Advisors LP | $204,094,539 | 2,144,526 | 3.61% | Shares |
| Deep Track Capital, LP | $183,297,420 | 1,926,000 | 3.24% | Shares |
| Bellevue Group AG | $157,714,772 | 1,657,190 | 2.79% | Shares |
| Remedium Capital Partners, LLC | $149,003,957 | 1,565,661 | 2.64% | Shares |
| RA CAPITAL MANAGEMENT, L.P. | $147,950,996 | 1,554,597 | 2.62% | Shares |
| VIKING GLOBAL INVESTORS LP | $143,086,001 | 1,503,478 | 2.53% | Shares |
| PERCEPTIVE ADVISORS LLC | $128,009,646 | 1,345,063 | 2.27% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $118,395,286 | 1,243,776 | 2.10% | Shares |
| Polar Capital Holdings Plc | $116,926,719 | 1,228,609 | 2.07% | Shares |
| FRANKLIN RESOURCES INC | $107,961,469 | 1,134,407 | 1.91% | Shares |
| CITADEL ADVISORS LLC | $106,496,277 | 1,119,011 | 1.89% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $102,689,858 | 1,079,015 | 1.82% | Shares |
| Avidity Partners Management LP | $72,369,552 | 760,424 | 1.28% | Shares |
| SUMMIT PARTNERS PUBLIC ASSET MANAGEMENT, LLC | $62,650,506 | 658,301 | 1.11% | Shares |
| Aberdeen Group plc | $61,569,565 | 646,943 | 1.09% | Shares |
| WESTFIELD CAPITAL MANAGEMENT CO LP | $60,093,479 | 631,433 | 1.06% | Shares |
| Pictet Asset Management Holding SA | $58,914,871 | 619,076 | 1.04% | Shares |
| Affinity Asset Advisors, LLC | $56,150,300 | 590,000 | 0.99% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $55,427,865 | 582,409 | 0.98% | Shares |
| Cormorant Asset Management, LP | $50,757,968 | 533,340 | 0.90% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $41,247,154 | 433,405 | 0.73% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $34,797,007 | 365,630 | 0.62% | Shares |
| Synergy Asset Management, LLC | $33,909,166 | 356,301 | 0.60% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $33,785,636 | 355,003 | 0.60% | Shares |
| SILVERARC CAPITAL MANAGEMENT, LLC | $33,576,166 | 352,802 | 0.59% | Shares |
| Candriam S.C.A. | $33,535,685 | 352,716 | 0.59% | Shares |
| BANK OF AMERICA CORP /DE/ | $30,991,159 | 325,640 | 0.55% | Shares |
| Holocene Advisors, LP | $29,117,357 | 305,951 | 0.52% | Shares |
| JENNISON ASSOCIATES LLC | $28,480,289 | 299,257 | 0.50% | Shares |
| Woodline Partners LP | $27,146,957 | 285,247 | 0.48% | Shares |
| BRAIDWELL LP | $26,472,868 | 278,164 | 0.47% | Shares |
| Siren, L.L.C. | $23,792,500 | 250,000 | 0.42% | Shares |
| EVENTIDE ASSET MANAGEMENT, LLC | $22,840,800 | 240,000 | 0.40% | Shares |
| Blackstone Inc. | $22,565,568 | 237,108 | 0.40% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $20,846,000 | 219,039 | 0.37% | Shares |
| SEB Asset Management AB | $18,724,947 | 196,753 | 0.33% | Shares |
| GREAT POINT PARTNERS LLC | $17,447,516 | 183,330 | 0.31% | Shares |
| Sio Capital Management, LLC | $16,856,320 | 177,118 | 0.30% | Shares |
| PFM Health Sciences, LP | $15,115,375 | 158,825 | 0.27% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $15,074,928 | 158,400 | 0.27% | Call option |
| First Turn Management, LLC | $14,783,993 | 155,343 | 0.26% | Shares |
| ExodusPoint Capital Management, LP | $14,105,336 | 148,212 | 0.25% | Shares |
| GOLDMAN SACHS GROUP INC | $12,155,303 | 127,722 | 0.22% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $11,827,537 | 124,278 | 0.21% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $11,115,856 | 116,800 | 0.20% | Put option |
| STEMPOINT CAPITAL LP | $11,083,593 | 116,461 | 0.20% | Shares |
| Parkman Healthcare Partners LLC | $10,772,102 | 113,188 | 0.19% | Shares |
| Apis Capital Advisors, LLC | $10,659,040 | 112,000 | 0.19% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $10,593,373 | 111,310 | 0.19% | Shares |
| SEVEN GRAND MANAGERS, LLC | $10,468,700 | 110,000 | 0.19% | Shares |
| KENNEDY CAPITAL MANAGEMENT LLC | $10,170,152 | 106,863 | 0.18% | Shares |
| TD Asset Management Inc | $9,797,180 | 102,944 | 0.17% | Shares |
| Moody Aldrich Partners LLC | $9,651,285 | 101,411 | 0.17% | Shares |
| BlackRock, Inc. | $9,637,390 | 101,265 | 0.17% | Shares |
| TORONTO DOMINION BANK | $8,549,787 | 89,837 | 0.15% | Shares |
| Alyeska Investment Group, L.P. | $8,350,596 | 87,744 | 0.15% | Shares |
| Rhenman & Partners Asset Management AB | $7,613,600 | 80,000 | 0.13% | Shares |
| B Group, Inc. | $7,137,750 | 75,000 | 0.13% | Shares |
| VOYA INVESTMENT MANAGEMENT LLC | $7,010,603 | 73,664 | 0.12% | Shares |
| BARCLAYS PLC | $6,884,504 | 72,339 | 0.12% | Shares |
| AMERIPRISE FINANCIAL INC | $6,884,027 | 72,334 | 0.12% | Shares |
| PRUDENTIAL FINANCIAL INC | $6,556,737 | 68,895 | 0.12% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $6,511,627 | 68,421 | 0.12% | Shares |
| Fisher Asset Management, LLC | $6,459,567 | 67,874 | 0.11% | Shares |
| Ensign Peak Advisors, Inc | $6,439,964 | 67,668 | 0.11% | Shares |
| Secure Asset Management, LLC | $6,271,585 | 65,899 | 0.11% | Shares |
| CITIGROUP INC | $6,109,343 | 64,194 | 0.11% | Shares |
| Swiss National Bank | $5,995,710 | 63,000 | 0.11% | Shares |
| ALPS ADVISORS INC | $5,806,702 | 61,014 | 0.10% | Shares |
| RHUMBLINE ADVISERS | $5,784,799 | 60,784 | 0.10% | Shares |
| Informed Momentum Co LLC | $5,616,362 | 59,014 | 0.10% | Shares |
| Atika Capital Management LLC | $5,547,745 | 58,293 | 0.10% | Shares |
| Atle Fund Management AB | $5,223,500 | 54,886 | 0.09% | Shares |
| Granahan Investment Management, LLC | $4,857,286 | 51,038 | 0.09% | Shares |
| Burkehill Global Management, LP | $4,758,500 | 50,000 | 0.08% | Shares |
| Ghisallo Capital Management LLC | $4,758,500 | 50,000 | 0.08% | Shares |
| Trexquant Investment LP | $4,721,955 | 49,616 | 0.08% | Shares |
| Nuveen, LLC | $4,471,087 | 46,980 | 0.08% | Shares |
| Bank of New York Mellon Corp | $4,302,350 | 45,207 | 0.08% | Shares |
| Rafferty Asset Management, LLC | $4,102,779 | 43,110 | 0.07% | Shares |
| SECTORAL ASSET MANAGEMENT INC | $3,995,903 | 41,987 | 0.07% | Shares |
| HighVista Strategies LLC | $3,987,813 | 41,902 | 0.07% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $3,885,886 | 40,831 | 0.07% | Shares |
| XTX Topco Ltd | $3,854,956 | 40,506 | 0.07% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $3,418,983 | 35,925 | 0.06% | Shares |
| Schonfeld Strategic Advisors LLC | $3,317,625 | 34,860 | 0.06% | Shares |
| ALLIANCEBERNSTEIN L.P. | $3,241,224 | 66,080 | 0.06% | Shares |
| Palo Alto Investors LP | $3,192,573 | 33,546 | 0.06% | Shares |
| Artia Global Partners LP | $3,178,678 | 33,400 | 0.06% | Shares |
| MILLENNIUM MANAGEMENT LLC | $3,127,857 | 32,866 | 0.06% | Shares |
| LAZARD ASSET MANAGEMENT LLC | $3,063,617 | 32,191 | 0.05% | Shares |
| FEDERATED HERMES, INC. | $2,862,904 | 30,082 | 0.05% | Shares |
| MetLife Investment Management, LLC | $2,789,718 | 29,313 | 0.05% | Shares |
Company insiders 60 insiders · 14 officers · 29 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Lawrence Otto Klein | Chief Executive Officer | June 15, 2026 S | 925,580 | 0 | 2 | $-191,902 |
| Jeffrey C. Dekker | Chief Financial Officer | Dec. 8, 2022 A | 40,000 | 0 | 0 | $0 |
| Patrick M Wheeler | Chief Financial Officer | Sept. 18, 2014 S | 101,510 | 0 | 0 | $0 |
| Kathryn E Falberg | CFO and COO | June 25, 2009 A | 0 | 0 | 0 | $0 |
| Lee E Bendekgey | Sr. VP CFO and General Counsel | Feb. 1, 2008 A | 6,511 | 0 | 0 | $0 |
| Henry Ward Wolff | Sr. VP Finance and CFO | Feb. 1, 2007 A | 229 | 0 | 0 | $0 |
| Laura Lee Sandler | Chief Operating Officer | July 1, 2026 M | 236,384 | 0 | 16 | $-1,396,710 |
| Thomas A Keuer | Chief Operating Officer | Dec. 8, 2022 A | 40,730 | 0 | 0 | $0 |
| Michael R Bristow | Pres. & Chief Executive Offic | Dec. 14, 2021 A | 41,155 | 0 | 0 | $0 |
| Brian L. Selby | VP, Finance | Dec. 21, 2020 A | 0 | 0 | 0 | $0 |
| Michael D Levy | Executive Vice President | Feb. 1, 2008 A | 20,821 | 0 | 0 | $0 |
| Gary Titus | Chief Acct.Officer | Aug. 30, 2006 S | 2,633 | 0 | 0 | $0 |
| Peter S Garcia | Senior V.P. and C.F.O. | May 7, 2004 A | — | 0 | 0 | $0 |
| Linda A Fitzpatrick | Senior V.P. of Human Resources | May 7, 2004 A | — | 0 | 0 | $0 |
| Carl Dambkowski | Director | June 12, 2026 S | 38,743 | 0 | 5 | $-8,645,640 |
| Christopher Nathan Martin | Director | June 2, 2026 A | — | 0 | 0 | $0 |
| Samarth Kulkarni | Director | June 2, 2026 A | — | 0 | 0 | $0 |
| Kristine M Ball | Director | June 2, 2026 A | — | 0 | 0 | $0 |
| Cameron Turtle | Director | June 2, 2025 A | — | 0 | 0 | $0 |
| Flynn James P. | Director | Jan. 30, 2024 A | — | 0 | 0 | $0 |
| Raymond L. Woosley | Director | Jan. 30, 2024 A | — | 0 | 0 | $0 |
| Linda S Grais | Director | Jan. 30, 2024 A | — | 0 | 0 | $0 |
| Anders D Hove | Director | Jan. 30, 2024 A | — | 0 | 0 | $0 |
| Robert E Conway | Director | Jan. 30, 2024 A | 50,000 | 0 | 0 | $0 |
| Daniel J Mitchell | Director | Jan. 30, 2024 A | 11,000 | 0 | 0 | $0 |
| Ma-Weaver Jacob | Director | June 15, 2022 A | — | 0 | 0 | $0 |
| ZABRISKIE JOHN L | Director | Sept. 17, 2013 A | 156,131 | 0 | 0 | $0 |
| FORMELA JEAN FRANCOIS | Director | Oct. 22, 2012 A | 1,579,542 | 0 | 0 | $0 |
| Burton E Sobel | Director | Feb. 10, 2012 A | 0 | 0 | 0 | $0 |
| Richard B Brewer | Director | Feb. 10, 2012 A | — | 0 | 0 | $0 |
| William J Freytag | Director | Feb. 5, 2010 A | — | 0 | 0 | $0 |
| Mary K Pendergast | Director | Feb. 5, 2010 A | 2,000 | 0 | 0 | $0 |
| Ted W Love | Director | Feb. 5, 2010 A | 57,289 | 0 | 0 | $0 |
| David George Lowe | Director | July 21, 2009 S | 129,600 | 0 | 0 | $0 |
| Kimberly J Popovits | Director | June 4, 2008 A | — | 0 | 0 | $0 |
| James R Gavin III | Director | June 4, 2008 A | — | 0 | 0 | $0 |
| Mark L Perry | Director | June 4, 2008 A | 65,833 | 0 | 0 | $0 |
| Barry L Zubrow | Director | May 31, 2007 A | 50,000 | 0 | 0 | $0 |
| George B Rathmann | Director | May 24, 2005 A | 903,788 | 0 | 0 | $0 |
| Philippe Chambon | Director | May 6, 2004 A | 5,759,875 | 0 | 0 | $0 |
| Carter Iii Thomas N Mc | Director | March 27, 2003 A | — | 0 | 0 | $0 |
| Funicular Funds, LP | 10% owner | July 1, 2022 J | 2,580,452 | 0 | 0 | $0 |
| Jon Sakoda | 10% owner | Feb. 26, 2018 S | 0 | 0 | 0 | $0 |
| Anthony A. Florence, Jr. | 10% owner | Feb. 26, 2018 S | 0 | 0 | 0 | $0 |
| Peter W. Sonsini | 10% owner | Feb. 26, 2018 S | 0 | 0 | 0 | $0 |
| Ravi Viswanathan | 10% owner | Feb. 26, 2018 S | 0 | 0 | 0 | $0 |
| Forest Baskett | 10% owner | Feb. 26, 2018 S | 0 | 0 | 0 | $0 |
| Scott D. Sandell | 10% owner | Feb. 26, 2018 S | 0 | 0 | 0 | $0 |
| Joshua Makower | 10% owner | Feb. 26, 2018 S | 0 | 0 | 0 | $0 |
| David M Mott | 10% owner | Feb. 26, 2018 S | 0 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 9 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 |
|---|---|---|---|---|---|
| Fairmount Funds Management LLC, Fairmount Healthcare Fund II L.P., Fairmount Healthcare Co-Invest III L.P., Harwin Peter Evan, Kiselak Tomas ×7 filings | July 1, 2026 | 19.50% | Amendment | — | SEC |
| Adage Capital Management, L.P., Robert Atchinson, Phillip Gross ×2 filings | Oct. 22, 2024 | — | Initial filing | — | SEC |
| Funicular Funds, LP, The Funicular Fund, LP, Jacob Ma-Weaver | July 8, 2022 | — | Initial filing | — | SEC |
| The Funicular Fund, LP, Jacob Ma-Weaver ×6 filings | June 21, 2022 | — | Initial filing | — | SEC |
| March 5, 2018 | — | Initial filing | — | SEC | |
| Growth Equity Opportunities Fund IV, LLC, New Enterprise Associates 15, L.P., NEA Partners 15, L.P., NEA 15 GP, LLC, Peter J. Barris, Forest Baskett, Anthony A. Florence, Jr., Krishna S. Kolluri, Joshua Makower, David M. Mott, Jon M. Sakoda, Scott D. Sandell, Peter W. Sonsini, Ravi Viswanathan, Harry R. Weller | June 29, 2015 | — | Initial filing | Passive investment | SEC |
| Atlas Venture Fund VII, L.P., Atlas Venture Associates VII, L.P. | Nov. 2, 2012 | — | Initial filing | — | SEC |
| Credit Suisse, on behalf of the Investment Banking division | March 15, 2006 | — | Initial filing | — | SEC |
| Undisclosed reporting person | April 6, 2004 | — | Initial filing | Board campaign | 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 44 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 | 2.70% | 67,376 SH | Aug. 8, 2026 | Daily |
| SBIO · ALPS ETF Trust | 1.81% | 49,896 NS | May 31, 2026 | N-PORT |
| BBC · ETFis Series Trust I | 1.68% | 9,143 NS | April 30, 2026 | N-PORT |
| DWAS · Invesco Exchange-Traded Fund Trust … | 1.18% | 53,572 SH | Aug. 8, 2026 | Daily |
| LABU · Direxion Shares ETF Trust | 0.57% | 43,576 NS | April 30, 2026 | N-PORT |
| MEDI · Harbor ETF Trust | 0.46% | 1,846 NS | April 30, 2026 | N-PORT |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.41% | 3,283 SH | Aug. 8, 2026 | Daily |
| IBB · iShares Trust | 0.38% | 372,279 SH | Aug. 8, 2026 | Daily |
| IWO · iShares Trust | 0.31% | 458,307 SH | Aug. 8, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.28% | 53,886 SH | Aug. 8, 2026 | Daily |
| AFSM · First Trust Exchange-Traded Fund VI… | 0.26% | 4,318 NS | May 31, 2026 | N-PORT |
| VFMO · VANGUARD WELLINGTON FUND | 0.21% | 43,678 SH | Aug. 8, 2026 | Daily |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.17% | 81,774 NS | May 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.16% | 1,284,921 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.15% | 289,905 SH | Aug. 8, 2026 | Daily |
| FMED · Fidelity Covington Trust | 0.14% | 1,000 NS | May 31, 2026 | N-PORT |
| BIB · ProShares Trust | 0.14% | 1,789 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.11% | 14,532 NS | May 31, 2026 | N-PORT |
| CGMM · Capital Group Equity ETF Trust I | 0.11% | 52,068 NS | May 31, 2026 | N-PORT |
| SMMV · iShares Trust | 0.08% | 2,391 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.08% | 16,691 NS | April 30, 2026 | N-PORT |
| ESML · iShares Trust | 0.08% | 23,190 SH | Aug. 8, 2026 | Daily |
| ITWO · ProShares Trust | 0.07% | 2,178 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.06% | 234,870 NS | May 31, 2026 | N-PORT |
| ISCB · iShares Trust | 0.05% | 1,604 SH | Aug. 8, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.05% | 580,805 SH | Aug. 8, 2026 | Daily |
| UWM · ProShares Trust | 0.04% | 1,703 NS | May 31, 2026 | N-PORT |
| VHT · VANGUARD WORLD FUND | 0.04% | 94,538 SH | Aug. 8, 2026 | Daily |
| GSSC · Goldman Sachs ETF Trust | 0.04% | 6,385 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.03% | 1,724 NS | May 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.03% | 1,930 SH | Aug. 8, 2026 | Daily |
| FHLC · FIDELITY COVINGTON TRUST | 0.02% | 9,959 NS | April 30, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.02% | 42,314 NS | April 30, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.02% | 5,464 SH | Aug. 8, 2026 | Daily |
| HDG · ProShares Trust | 0.01% | 43 NS | May 31, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.01% | 1,725,048 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.01% | 4,138 SH | Aug. 8, 2026 | Daily |
| ONEQ · Fidelity Commonwealth Trust | 0.01% | 16,709 NS | May 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.01% | 68,265 SH | Aug. 8, 2026 | Daily |
| IWV · iShares Trust | 0.01% | 13,405 SH | Aug. 8, 2026 | Daily |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 28,726 NS | May 31, 2026 | N-PORT |
| AVUS · AMERICAN CENTURY ETF TRUST | 0.00% | 8,112 NS | May 31, 2026 | N-PORT |
| AVSU · AMERICAN CENTURY ETF TRUST | 0.00% | 64 NS | May 31, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 1,553 NS | April 30, 2026 | N-PORT |