RAPP Rapport Therapeutics, Inc. - Common Stock
$49.31
Price · Aug 19, 2026
Fundamentals as of Aug 5, 2026
52W Range
$14–$50
98% of range
Analyst Rating
BUY
19 analysts
Price Target
$61
+25% upside
P/E (TTM)
-17.3
ROE
-29.8%
Net Profit Margin
—
RAPP Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$49.31
Market Cap
$2.36B
P/E (TTM)
-17.3
EPS (TTM)
$-2.86
Revenue (TTM)
—
Div Yield
—
ROE
-29.8%
Debt/Equity
—
52W Range
$14 – $50
RAPP 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
$-2.86
2023-12-31
→
2025-12-31
Free Cash Flow
$-88M
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
RAPP
Peer Median
P/E (TTM)
-17.3
19.1
P/B
4.9
3.6
Price / FCF
-26.8
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
RAPP
Peer Median
ROA
-27.0%
-2.9%
ROE
-29.8%
-6.8%
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
RAPP
Peer Median
Current Ratio
26.2
4.7
Quick Ratio
25.8
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
RAPP
Peer Median
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
RAPP
Peer Median
RAPP Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
19 analysts
- Strong Buy 8 42.1%
- Buy 10 52.6%
- Hold 1 5.3%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
12 analysts · 2026-08-17
Median
$59.00
Mean
$61.47
← Below all targets
$49.31
Low
$50.00
High
$80.00
Median target
$59.00
+19.7%
Mean target
$61.47
+24.7%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.05%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-1.19 | $-0.97 | -0.22% |
| March 31, 2026 | $-0.42 | $-0.68 | 0.26% |
| Dec. 31, 2025 | $-0.72 | $-0.69 | -0.03% |
| Sept. 30, 2025 | $-0.71 | $-0.79 | 0.08% |
| June 30, 2025 | $-0.75 | $-0.85 | 0.10% |
| March 31, 2025 | $-0.68 | $-0.78 | 0.10% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| RAPP | $1.45B | -10.6 | — | — | -29.8% | — |
| NUVB | $3.03B | -14.9 | 699.0% | -325.3% | -60.3% | — |
| NKTR | $862M | -4.3 | -43.9% | -297.1% | -500.1% | — |
| OCUL | $2.62B | -8.5 | -18.5% | -511.9% | -55.4% | — |
| PBH | $3.33B | 15.2 | -4.3% | 17.5% | 10.2% | 54.7% |
| AMRX | — | 57.3 | 8.1% | 2.4% | -80.0% | 36.9% |
| HRMY | $2.16B | 13.8 | 21.5% | 18.3% | 19.3% | 77.2% |
| KARD | — | — | — | — | — | — |
| SEPN | $1.25B | -25.3 | 4174.5% | -106.4% | -12.9% | — |
| TRLV | — | — | -0.45% | -10.3% | -10.4% | 60.2% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 14
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| R&D Expense | $95M | $61M | $28M | |
| SG&A Expense | $30M | $22M | $8M | |
| Operating Expenses | $125M | $83M | $36M | |
| Operating Income | $-125M | $-83M | $-36M | |
| Interest Income | $14M | $12M | $3M | |
| Other Non-op | $14M | $5M | $1M | |
| Pretax Income | · | $-78M | $-35M | |
| Income Tax | $0 | $0 | $10.0K | |
| Net Income | $-111M | $-78M | $-35M | |
| EPS (Basic) | $-2.86 | $-3.78 | $-23.10 | |
| EPS (Diluted) | $-2.86 | $-3.78 | $-23.10 | |
| Shares (Basic) | 38,934,569 | 20,738,338 | 1,505,774 | |
| Shares (Diluted) | 38,934,569 | 20,738,338 | 1,505,774 | |
| EBITDA | $-124M | $-82M | · |
Balance Sheet 21
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Cash & Equivalents | $53M | $57M | $70M | |
| Short-term Investments | $438M | $248M | $77M | |
| Receivables | $0 | · | · | |
| Prepaid Expense | $8M | $4M | $3M | |
| Current Assets | $499M | $310M | $151M | |
| PP&E (Net) | $3M | $4M | $2M | |
| PP&E (Gross) | $5M | $4M | $2M | |
| Accum. Depreciation | $2M | $965.0K | $127.0K | |
| Other Non-current Assets | $985.0K | $160.0K | $551.0K | |
| Total Assets | $512M | $315M | $155M | |
| Accounts Payable | $4M | $2M | $3M | |
| Accrued Liabilities | $12M | $6M | $6M | |
| Current Liabilities | $19M | $9M | $9M | |
| Capital Leases | $9M | $739.0K | $1M | |
| Total Liabilities | $28M | $10M | $14M | |
| Common Stock | $48.0K | $37.0K | $4.0K | |
| Retained Earnings | $-235M | $-124M | $-45M | |
| AOCI | $546.0K | $-522.0K | $4.0K | |
| Stockholders' Equity | $485M | $305M | $-26M | |
| Liabilities + Equity | $512M | $315M | $155M | |
| Shares Outstanding | 47,772,567 | 36,580,202 | 4,170,817 |
Cash Flow 10
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| D&A | $1M | $839.0K | $112.0K | |
| Stock-based Comp | $19M | $10M | $4M | |
| Other Non-cash | $4M | $2M | · | |
| Operating Cash Flow | $-87M | $-65M | $-27M | |
| CapEx | $616.0K | $2M | $2M | |
| Investing Cash Flow | $-187M | $-170M | $-79M | |
| Stock Issued | · | · | $54.0K | |
| Financing Cash Flow | $271M | $222M | $145M | |
| Net Change in Cash | $-4M | $-13M | $39M | |
| Free Cash Flow | $-88M | $-67M | · |
Profitability 3
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| ROA | -27.0% | -33.3% | · | |
| ROE | -29.8% | -24.9% | · | |
| ROIC | · | -27.2% | · |
Liquidity & Solvency 2
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Current Ratio | 26.2 | 35.3 | · | |
| Quick Ratio | 25.8 | 34.8 | · |
Valuation (TTM) 8
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Net Income TTM | $-111M | $-78M | · | |
| Market Cap | $1.45B | $649M | · | |
| P/E | -10.6 | -4.7 | · | |
| P/B | 3.0 | 2.1 | · | |
| P / Tangible Book | 3.0 | 2.1 | · | |
| P / Cash Flow | -16.6 | -10.0 | · | |
| P / FCF | -16.5 | -9.7 | · | |
| Earnings Yield | -9.4% | -21.3% | · |
Income Statement 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $20M | · | · | $0 | $0 | |
| R&D Expense | $51M | $33M | $30M | $22M | $23M | $20M | |
| SG&A Expense | $9M | $11M | $8M | $8M | $7M | $8M | |
| Operating Expenses | $61M | $44M | $39M | $30M | $29M | $27M | |
| Operating Income | $-61M | $-24M | $-39M | $-30M | $-29M | $-27M | |
| Interest Income | $4M | $4M | $5M | $3M | $3M | $3M | |
| Other Non-op | $4M | $4M | $5M | $3M | $3M | $3M | |
| Net Income | $-57M | $-20M | $-34M | $-27M | $-27M | $-24M | |
| EPS (Basic) | $-1.19 | $-0.42 | $-0.72 | $-0.71 | $-0.75 | $-0.68 | |
| EPS (Diluted) | $-1.19 | $-0.42 | $-0.72 | $-0.71 | $-0.75 | $-0.68 | |
| Shares (Basic) | 47,473,174 | 47,236,618 | -69,707,813 | 37,931,170 | 35,444,635 | 35,266,577 | |
| Shares (Diluted) | 47,473,174 | 47,236,618 | -69,707,813 | 37,931,170 | 35,444,635 | 35,266,577 | |
| EBITDA | $-61M | $-24M | · | $-30M | $-29M | $-27M |
Balance Sheet 21
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $64M | $78M | $53M | $251M | $55M | $58M | |
| Short-term Investments | $372M | $399M | $438M | $262M | $205M | $228M | |
| Receivables | $293.0K | $58.0K | · | · | · | · | |
| Prepaid Expense | $10M | $8M | $8M | $8M | $10M | $5M | |
| Current Assets | $447M | $485M | $499M | $521M | $270M | $291M | |
| PP&E (Net) | $2M | $3M | $3M | $3M | $3M | $3M | |
| PP&E (Gross) | $4M | $4M | $5M | $5M | $5M | $5M | |
| Accum. Depreciation | $2M | $2M | $2M | $2M | $1M | $1M | |
| Other Non-current Assets | $1M | $1M | $985.0K | $1M | $1M | $211.0K | |
| Total Assets | $459M | $498M | $512M | $535M | $285M | $302M | |
| Accounts Payable | $3M | $7M | $4M | $3M | $3M | $2M | |
| Accrued Liabilities | $23M | $9M | $12M | $9M | $7M | $6M | |
| Current Liabilities | $28M | $18M | $19M | $14M | $12M | $9M | |
| Capital Leases | $8M | $8M | $9M | $9M | $10M | $7M | |
| Total Liabilities | $36M | $26M | $28M | $24M | $22M | $16M | |
| Common Stock | $48.0K | $48.0K | $48.0K | $48.0K | $37.0K | $37.0K | |
| Retained Earnings | $-312M | $-255M | $-235M | $-201M | $-175M | $-148M | |
| AOCI | $-1M | $-505.0K | $546.0K | $145.0K | $-76.0K | $-95.0K | |
| Stockholders' Equity | $423M | $472M | $485M | $512M | $264M | $286M | |
| Liabilities + Equity | $459M | $498M | $512M | $535M | $285M | $302M | |
| Shares Outstanding | 47,955,079 | 47,807,453 | 47,772,567 | 47,650,216 | 36,497,677 | 36,497,434 |
Cash Flow 9
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|---|
| D&A | $212.0K | $227.0K | $265.0K | $256.0K | $252.0K | $244.0K | |
| Stock-based Comp | $7M | $7M | $6M | $5M | $4M | $4M | |
| Other Non-cash | · | $-394.0K | · | · | · | $-458.0K | |
| Operating Cash Flow | $-41M | $-13M | $-25M | $-17M | $-25M | $-20M | |
| CapEx | $78.0K | $86.0K | $169.0K | $134.0K | $22.0K | $291.0K | |
| Investing Cash Flow | $26M | $38M | $-174M | $-57M | $23M | $21M | |
| Financing Cash Flow | $1M | $531.0K | $311.0K | $271M | $-63.0K | $5.0K | |
| Net Change in Cash | $-14M | $25M | $-199M | $196M | $-3M | $799.0K | |
| Free Cash Flow | · | $-13M | · | · | · | $-21M |
Profitability 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|---|
| Operating Margin | · | -121.1% | · | · | · | · | |
| Net Margin | · | -99.3% | · | · | · | · | |
| EBITDA Margin | · | -119.9% | · | · | · | · | |
| ROA | -15.2% | -5.0% | · | -6.2% | -8.5% | -15.9% | |
| ROE | -16.5% | -5.2% | · | -6.5% | -8.9% | -16.8% |
Liquidity & Solvency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 15.7 | 27.1 | · | 36.4 | 22.7 | 31.0 | |
| Quick Ratio | 15.4 | 26.6 | · | 35.8 | 21.9 | 30.4 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.1 | · | · | · | · | |
| Receivables Turnover | 0.0 | 689.7 | · | · | · | · |
Valuation (TTM) 8
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|---|
| Net Income TTM | $-130M | $-98M | · | $-95M | $-86M | $-82M | |
| Market Cap | $2.00B | $1.50B | · | $1.42B | $415M | $366M | |
| P/E | -13.6 | -12.2 | · | -11.2 | -3.1 | -0.7 | |
| P/B | 4.7 | 3.2 | · | 2.8 | 1.6 | 1.3 | |
| P / Tangible Book | 4.7 | 3.2 | · | 2.8 | 1.6 | 1.3 | |
| P / Cash Flow | · | -114.5 | · | · | · | -18.1 | |
| P / FCF | · | -113.8 | · | · | · | -17.8 | |
| Earnings Yield | -7.4% | -8.2% | · | -8.9% | -31.9% | -139.1% |
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 | $-111M | $-78M | $-35M |
| Diluted EPS | $-2.86 | $-3.78 | $-23.10 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | |
|---|---|---|---|
| Current Ratio | 26.2 | 35.3 | — |
| Quick Ratio | 25.8 | 34.8 | — |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | |
|---|---|---|---|
| Free Cash Flow | $-88M | $-67M | — |
Latest News Recent headlines mentioning this company
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Institutional owners (13F) 170 filers · $1.7B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 35 (+9 vs prior Q) | 12 (-10 vs prior Q) | 46 (-3 vs prior Q) | 50 (+17 vs prior Q) | +1.0M |
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 |
|---|---|---|---|---|
| TRV GP V, LLC | $261,709,477 | 6,280,525 | 15.41% | Shares |
| FMR LLC | $165,521,866 | 3,972,207 | 9.75% | Shares |
| ARCH Venture Management, LLC | $155,376,512 | 3,728,738 | 9.15% | Shares |
| Capital International Investors | $121,757,990 | 2,921,958 | 7.17% | Shares |
| Cormorant Asset Management, LP | $110,738,900 | 2,657,521 | 6.52% | Shares |
| Sofinnova Investments, Inc. | $79,356,681 | 1,904,408 | 4.67% | Shares |
| JOHNSON & JOHNSON | $74,360,823 | 1,784,517 | 4.38% | Shares |
| GOLDMAN SACHS GROUP INC | $69,303,544 | 1,663,152 | 4.08% | Shares |
| Polar Capital Holdings Plc | $67,026,778 | 1,608,514 | 3.95% | Shares |
| BAKER BROS. ADVISORS LP | $64,467,240 | 1,547,090 | 3.80% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $56,109,155 | 1,346,512 | 3.30% | Shares |
| TRV GP VI, LLC | $40,387,314 | 969,218 | 2.38% | Shares |
| STATE STREET CORP | $34,115,729 | 818,712 | 2.01% | Shares |
| PERCEPTIVE ADVISORS LLC | $32,225,161 | 773,342 | 1.90% | Shares |
| Vestal Point Capital, LP | $30,419,100 | 730,000 | 1.79% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $28,564,682 | 685,371 | 1.68% | Shares |
| Siren, L.L.C. | $26,730,013 | 641,469 | 1.57% | Shares |
| Capital World Investors | $22,987,547 | 551,657 | 1.35% | Shares |
| ALLIANCEBERNSTEIN L.P. | $21,695,985 | 693,384 | 1.28% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $14,998,866 | 359,944 | 0.88% | Shares |
| Candriam S.C.A. | $14,472,638 | 347,650 | 0.85% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $14,240,764 | 341,751 | 0.84% | Shares |
| Sio Capital Management, LLC | $12,820,067 | 307,657 | 0.75% | Shares |
| KENNEDY CAPITAL MANAGEMENT LLC | $10,450,628 | 250,795 | 0.62% | Shares |
| Burkehill Global Management, LP | $10,417,500 | 250,000 | 0.61% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $10,284,781 | 246,815 | 0.61% | Shares |
| ALGERT GLOBAL LLC | $9,326,663 | 223,822 | 0.55% | Shares |
| D. E. Shaw & Co., Inc. | $8,952,008 | 214,831 | 0.53% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $8,681,236 | 208,333 | 0.51% | Shares |
| Ensign Peak Advisors, Inc | $6,898,302 | 165,546 | 0.41% | Shares |
| MILLENNIUM MANAGEMENT LLC | $6,455,016 | 154,908 | 0.38% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $6,250,500 | 150,000 | 0.37% | Shares |
| Artia Global Partners LP | $5,771,628 | 138,508 | 0.34% | Shares |
| VANGUARD GROUP INC | $5,536,018 | 182,466 | 0.33% | Shares |
| Swedbank AB | $4,892,058 | 117,400 | 0.29% | Shares |
| Walleye Capital LLC | $4,257,132 | 102,163 | 0.25% | Shares |
| Woodline Partners LP | $4,064,367 | 97,537 | 0.24% | Shares |
| TD Asset Management Inc | $3,828,556 | 91,878 | 0.23% | Shares |
| CITADEL ADVISORS LLC | $3,435,358 | 82,442 | 0.20% | Shares |
| ORBIMED ADVISORS LLC | $3,192,589 | 76,616 | 0.19% | Shares |
| DAFNA Capital Management LLC | $3,125,250 | 75,000 | 0.18% | Shares |
| PRUDENTIAL FINANCIAL INC | $2,903,774 | 69,685 | 0.17% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $2,903,649 | 69,682 | 0.17% | Shares |
| STEMPOINT CAPITAL LP | $2,774,472 | 66,582 | 0.16% | Shares |
| AMERICAN CENTURY COMPANIES INC | $2,740,386 | 65,764 | 0.16% | Shares |
| BANK OF AMERICA CORP /DE/ | $2,694,507 | 64,663 | 0.16% | Shares |
| XTX Topco Ltd | $2,560,246 | 61,441 | 0.15% | Shares |
| Allspring Global Investments Holdings, LLC | $2,394,692 | 57,468 | 0.14% | Shares |
| Swiss National Bank | $2,300,184 | 55,200 | 0.14% | Shares |
| Trexquant Investment LP | $2,247,555 | 53,937 | 0.13% | Shares |
| ALPS ADVISORS INC | $2,010,286 | 48,243 | 0.12% | Shares |
| Susquehanna Portfolio Strategies, LLC | $1,665,883 | 39,978 | 0.10% | Shares |
| JANE STREET GROUP, LLC | $1,635,798 | 39,256 | 0.10% | Shares |
| RHUMBLINE ADVISERS | $1,550,030 | 37,198 | 0.09% | Shares |
| Integrated Quantitative Investments LLC | $1,266,185 | 30,386 | 0.07% | Shares |
| Bank of New York Mellon Corp | $1,233,682 | 29,606 | 0.07% | Shares |
| MORGAN STANLEY | $1,194,971 | 28,677 | 0.07% | Shares |
| BlackRock, Inc. | $1,166,135 | 27,985 | 0.07% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $1,146,425 | 27,512 | 0.07% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $1,085,212 | 26,043 | 0.06% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $1,045,900 | 33,426 | 0.06% | Shares |
| TWO SIGMA INVESTMENTS, LP | $1,019,665 | 24,470 | 0.06% | Shares |
| Ellsworth Advisors, LLC | $979,842 | 24,539 | 0.06% | Shares |
| CITIGROUP INC | $925,282 | 22,205 | 0.05% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $920,949 | 22,101 | 0.05% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $919,032 | 22,055 | 0.05% | Shares |
| Engineers Gate Manager LP | $888,154 | 21,314 | 0.05% | Shares |
| Y-Intercept (Hong Kong) Ltd | $799,606 | 19,189 | 0.05% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $772,228 | 18,532 | 0.05% | Shares |
| MetLife Investment Management, LLC | $750,435 | 18,009 | 0.04% | Shares |
| Vanguard Global Advisers, LLC | $718,391 | 17,240 | 0.04% | Shares |
| SEI INVESTMENTS CO | $678,971 | 16,294 | 0.04% | Shares |
| AMERIPRISE FINANCIAL INC | $612,382 | 14,696 | 0.04% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $594,048 | 14,256 | 0.03% | Shares |
| BARCLAYS PLC | $588,880 | 14,132 | 0.03% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $587,880 | 14,108 | 0.03% | Shares |
| PSP Research LLC | $583,380 | 14,000 | 0.03% | Shares |
| VARCOV Co. | $537,335 | 12,895 | 0.03% | Shares |
| Invesco Ltd. | $509,666 | 12,231 | 0.03% | Shares |
| Optimize Financial Inc | $458,586 | 14,656 | 0.03% | Shares |
| China Universal Asset Management Co., Ltd. | $450,536 | 10,812 | 0.03% | Shares |
| JANUS HENDERSON GROUP PLC | $432,768 | 13,800 | 0.03% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $429,201 | 10,300 | 0.03% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $424,034 | 10,176 | 0.02% | Shares |
| CATALYST PRIVATE WEALTH, LLC | $416,700 | 10,000 | 0.02% | Shares |
| Allianz Asset Management GmbH | $413,028 | 13,200 | 0.02% | Shares |
| CLEAR WAVE WEALTH MANAGEMENT LLC | $395,865 | 9,500 | 0.02% | Shares |
| Police & Firemen's Retirement System of New Jersey | $376,447 | 9,034 | 0.02% | Shares |
| State of New Jersey Common Pension Fund D | $370,321 | 8,887 | 0.02% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $362,529 | 8,700 | 0.02% | Call option |
| Virtus Investment Advisers, LLC | $355,070 | 8,521 | 0.02% | Shares |
| INTECH INVESTMENT MANAGEMENT LLC | $348,820 | 8,371 | 0.02% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $343,986 | 8,255 | 0.02% | Shares |
| ARIZONA STATE RETIREMENT SYSTEM | $316,025 | 7,584 | 0.02% | Shares |
| Vanguard Investments Australia, Ltd. | $302,483 | 7,259 | 0.02% | Shares |
| AlphaCentric Advisors LLC | $272,147 | 6,531 | 0.02% | Shares |
| Quadrature Capital Ltd | $264,980 | 6,359 | 0.02% | Shares |
| PROFUND ADVISORS LLC | $264,938 | 6,358 | 0.02% | Shares |
| VOYA INVESTMENT MANAGEMENT LLC | $250,020 | 6,000 | 0.01% | Shares |
| KLP KAPITALFORVALTNING AS | $245,853 | 5,900 | 0.01% | Shares |
Company insiders 15 insiders · 6 officers · 8 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Troy A. Ignelzi | Chief Financial Officer | Feb. 2, 2026 A | 10,000 | 0 | 0 | $0 |
| Cheryl Gault | Chief Operating Officer | June 30, 2026 S | 149,914 | 0 | 8 | $-906,382 |
| Krishnaswamy Yeleswaram | Chief Development Officer | April 17, 2026 S | 246,426 | 0 | 7 | $-1,905,859 |
| David Bredt | Chief Scientific Officer | Feb. 19, 2026 M | 393,075 | 0 | 14 | $-1,566,191 |
| Jeffrey Sevigny | Chief Medical Officer | Feb. 2, 2026 A | — | 0 | 0 | $0 |
| Bradley S. Galer | Chief Medical Officer | June 6, 2024 A | — | 0 | 0 | $0 |
| Wendy B. Young | Director | June 10, 2026 A | 9,500 | 1 | 0 | $79,100 |
| Ramiro Sanchez | Director | June 10, 2026 A | — | 0 | 0 | $0 |
| Reid M Huber | Director | June 10, 2026 A | 20,400 | 1 | 0 | $499,392 |
| Paul M Silva | Director | June 10, 2026 A | — | 0 | 0 | $0 |
| Robert J Perez | Director | June 10, 2026 A | — | 0 | 0 | $0 |
| Dr. James I. Healy | Director | June 10, 2026 A | 40,851 | 0 | 0 | $0 |
| Steven M Paul | Director | June 10, 2026 A | 41,666 | 2 | 0 | $1,027,107 |
| John Maraganore | Director | June 10, 2026 A | — | 0 | 0 | $0 |
| Abraham Ceesay | — | Aug. 11, 2026 S | 486,108 | 0 | 35 | $-6,678,858 |
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 |
|---|---|---|---|---|---|
| Sofinnova Venture Partners XI, L.P. ("SVP XI"), Sofinnova Management XI, L.P. ("SM XI LP"), Sofinnova Management XI, L.L.C. ("SM XI LLC"), Dr. James I. Healy ("Healy"), Dr. Maha Katabi ("Katabi") | Sept. 18, 2025 | 4.20% | Amendment | Passive investment | SEC |
| Sofinnova Venture Partners XI, L.P. (“SVP XI”), Sofinnova Management XI, L.P. (“SM XI LP”), Sofinnova Management XI, L.L.C. (“SM XI LLC”), Dr. James I. Healy (“Healy”), Dr. Maha Katabi (“Katabi”) | June 14, 2024 | — | Initial filing | Passive investment | 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 41 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 |
|---|---|---|---|---|
| IBRN · iShares Trust | 1.34% | 2,230 SH | Aug. 8, 2026 | Daily |
| SBIO · ALPS ETF Trust | 1.20% | 49,264 NS | May 31, 2026 | N-PORT |
| PILL · Direxion Shares ETF Trust | 1.01% | 3,931 NS | April 30, 2026 | N-PORT |
| BBC · ETFis Series Trust I | 0.81% | 9,118 NS | April 30, 2026 | N-PORT |
| DWAS · Invesco Exchange-Traded Fund Trust … | 0.53% | 52,606 SH | Aug. 8, 2026 | Daily |
| IWC · iShares Trust | 0.32% | 103,994 SH | Aug. 8, 2026 | Daily |
| IHE · iShares Trust | 0.29% | 102,384 SH | Aug. 8, 2026 | Daily |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.15% | 2,603 SH | Aug. 8, 2026 | Daily |
| VFMO · VANGUARD WELLINGTON FUND | 0.14% | 65,899 SH | Aug. 8, 2026 | Daily |
| ESSC · Strategy Shares | 0.14% | 1,068 NS | April 30, 2026 | N-PORT |
| IBB · iShares Trust | 0.10% | 209,659 SH | Aug. 8, 2026 | Daily |
| BIB · ProShares Trust | 0.09% | 1,764 NS | May 31, 2026 | N-PORT |
| IWO · iShares Trust | 0.08% | 257,826 SH | Aug. 8, 2026 | Daily |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.08% | 56,640 NS | May 31, 2026 | N-PORT |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.07% | 30,687 SH | Aug. 8, 2026 | Daily |
| ISCV · iShares Trust | 0.05% | 6,950 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.04% | 782,204 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.04% | 176,323 SH | Aug. 8, 2026 | Daily |
| ITWO · ProShares Trust | 0.03% | 1,383 NS | May 31, 2026 | N-PORT |
| RSSL · Global X Funds | 0.03% | 12,538 NS | April 30, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.02% | 138,494 NS | May 31, 2026 | N-PORT |
| ISCB · iShares Trust | 0.02% | 1,416 SH | Aug. 8, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.02% | 82,726 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.02% | 80,309 NS | April 30, 2026 | N-PORT |
| UWM · ProShares Trust | 0.02% | 1,083 NS | May 31, 2026 | N-PORT |
| FHLC · FIDELITY COVINGTON TRUST | 0.02% | 13,646 NS | April 30, 2026 | N-PORT |
| URTY · ProShares Trust | 0.01% | 1,094 NS | May 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.01% | 1,681 SH | Aug. 8, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 328,506 SH | Aug. 8, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.01% | 1,796 SH | Aug. 8, 2026 | Daily |
| ONEQ · Fidelity Commonwealth Trust | 0.01% | 15,825 NS | May 31, 2026 | N-PORT |
| IWN · iShares Trust | 0.01% | 17,530 SH | Aug. 8, 2026 | Daily |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.01% | 1,037 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 27 NS | May 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 42,603 SH | Aug. 8, 2026 | Daily |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 20,394 NS | May 31, 2026 | N-PORT |
| IWV · iShares Trust | 0.00% | 7,681 SH | Aug. 8, 2026 | Daily |
| AVUS · AMERICAN CENTURY ETF TRUST | 0.00% | 1,854 NS | May 31, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 1,102 NS | April 30, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 986,730 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 2,513 SH | Aug. 8, 2026 | Daily |