RNAC Cartesian Therapeutics, Inc. - Common Stock
$9.23
Price · Aug 18, 2026
Fundamentals as of Aug 6, 2026
52W Range
$6–$12
59% of range
Analyst Rating
BUY
14 analysts
Price Target
$35
+275% upside
P/E (TTM)
-2.0
ROE
202.4%
Net Profit Margin
-4658.6%
About Cartesian Therapeutics, Inc. - Common Stock Company overview from Wikipedia
RNAC Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$9.23
Market Cap
$263M
P/E (TTM)
-2.0
EPS (TTM)
$-5.02
Revenue (TTM)
$3M
Div Yield
—
ROE
202.4%
Debt/Equity
—
52W Range
$6 – $12
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$3M
2017-12-31
→
2025-12-31
EPS
$-5.02
2019-12-31
→
2025-12-31
Free Cash Flow
$-79M
2017-12-31
→
2025-12-31
Margins
-4658.6%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
RNAC
Peer Median
P/E (TTM)
-2.0
88.5
P/S (TTM)
94.2
1.7
P/B
-2.1
3.6
Price / FCF
-3.3
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
RNAC
Peer Median
Operating Margin
-5127.1%
—
Net Profit Margin
-4658.6%
-35.8%
ROA
-35.6%
-38.8%
ROE
202.4%
-61.0%
ROIC
106.1%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
RNAC
Peer Median
Current Ratio
8.7
3.9
Quick Ratio
8.5
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
RNAC
Peer Median
Revenue YoY
-92.8%
—
Revenue CAGR 3Y
-70.7%
—
Revenue CAGR 5Y
-30.0%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
RNAC
Peer Median
RNAC Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
14 analysts
- Strong Buy 5 35.7%
- Buy 8 57.1%
- Hold 1 7.1%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
7 analysts · 2026-08-17
Median
$39.00
Mean
$34.57
← Below all targets
$9.23
Low
$16.00
High
$44.00
Median target
$39.00
+322.5%
Mean target
$34.57
+274.6%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.18%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.46 | $-0.89 | 1.3% |
| March 31, 2026 | $-1.46 | $-0.90 | -0.56% |
| Dec. 31, 2025 | $-3.57 | $-0.87 | -2.7% |
| Sept. 30, 2025 | $-1.38 | $-0.86 | -0.52% |
| June 30, 2025 | $0.50 | $-0.83 | 1.3% |
| March 31, 2025 | $-0.68 | $-0.72 | 0.04% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| RNAC | $188M | -1.4 | -92.8% | -4658.6% | 202.4% | — |
| ELDN | $114M | -2.9 | — | — | -69.4% | — |
| MYGN | $575M | -1.6 | -1.6% | -44.4% | -96.8% | 69.9% |
| ANIK | $133M | -12.6 | -5.9% | -9.6% | -7.5% | 56.6% |
| TRDA | $394M | -3.0 | -87.9% | -565.5% | -41.9% | — |
| SRZN | — | — | — | — | — | — |
| SION | $1.84B | -21.9 | — | — | -23.4% | — |
| ZSQR | — | — | — | — | — | — |
| MGNX | $102M | -1.4 | -0.31% | -49.9% | -87.0% | — |
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 | $3M | $39M | $26M | $111M | $85M | $17M | $7M | $903.0K | · | $8M | $6M | |
| R&D Expense | $58M | $45M | $71M | $72M | $69M | $55M | $43M | $48M | · | $30M | $23M | |
| SG&A Expense | $31M | $30M | $40M | $24M | $21M | $19M | $16M | $18M | · | $13M | $8M | |
| Operating Expenses | $146M | $83M | $112M | $96M | $90M | $73M | $59M | $66M | · | $43M | $31M | |
| Operating Income | $-143M | $-44M | $-86M | $15M | $-5M | $-57M | $-52M | $-65M | · | $-35M | $-25M | |
| Interest Expense | · | · | $3M | $3M | $3M | $2M | $2M | $1M | · | $1M | $948.0K | |
| Interest Income | $7M | $7M | $5M | · | · | · | · | · | · | · | · | |
| Other Non-op | $-2M | $606.0K | $691.0K | $330.0K | $15.0K | $89.0K | $-1M | $10.0K | · | $4.0K | $-26.0K | |
| Pretax Income | $-139M | $-77M | $-239M | $35M | $-10M | $-69M | $-55M | · | · | · | · | |
| Income Tax | $-9M | $287.0K | $-19M | $-609.0K | $16M | $0 | $0 | · | · | · | · | |
| Net Income | $-130M | $-77M | $-220M | $35M | $-26M | $-69M | $-55M | $-65M | · | $-36M | $-25M | |
| EPS (Basic) | $-5.02 | $-4.48 | $-49.76 | $0.24 | $-0.22 | $-0.68 | $-1.22 | · | · | · | · | |
| EPS (Diluted) | $-5.02 | $-4.49 | $-49.76 | $0.10 | $-0.22 | $-0.68 | $-1.22 | · | · | · | · | |
| Shares (Basic) | 25,973,329 | 17,276,822 | 5,170,319 | 144,758,555 | 114,328,798 | 101,202,176 | 45,548,511 | · | · | · | · | |
| Shares (Diluted) | 25,973,329 | 17,357,943 | 5,170,319 | 145,874,889 | 114,328,798 | 101,202,176 | 45,548,511 | · | · | · | · | |
| EBITDA | $-143M | $-44M | $-86M | $15M | · | $-57M | $-52M | $-65M | · | $-35M | · |
Balance Sheet 26
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $125M | $213M | $77M | $106M | $114M | $139M | $90M | $37M | · | $59M | $32M | |
| Short-term Investments | · | · | · | · | · | · | · | $0 | $26M | $25M | $4M | |
| Receivables | $1M | $872.0K | $6M | $7M | $10M | $7M | $5M | $0 | $63.0K | $215.0K | $824.0K | |
| Prepaid Expense | $3M | $3M | $5M | $4M | $6M | $5M | $1M | $5M | $2M | $2M | $1M | |
| Other Current Assets | · | · | · | · | · | · | · | $80.0K | · | · | · | |
| Current Assets | $129M | $217M | $91M | $148M | $144M | $151M | $97M | $42M | $99M | $87M | $39M | |
| PP&E (Net) | $12M | $10M | $2M | $3M | $2M | $1M | $1M | $2M | $2M | $2M | $2M | |
| PP&E (Gross) | $17M | $12M | $8M | $8M | $7M | $6M | $6M | $7M | · | $6M | $5M | |
| Accum. Depreciation | $5M | $2M | $6M | $5M | $5M | $4M | $5M | $5M | · | $4M | $3M | |
| Goodwill | $48M | $48M | $48M | $0 | · | · | · | · | · | · | · | |
| Other Non-current Assets | · | $518.0K | $0 | · | · | · | · | · | · | $122.0K | $2M | |
| Total Assets | $296M | $435M | $305M | $166M | $160M | $165M | $100M | $44M | $101M | $89M | $43M | |
| Accounts Payable | $1M | $288.0K | $3M | $316.0K | $224.0K | $443.0K | $500.0K | $1M | $2M | $4M | $2M | |
| Accrued Liabilities | $9M | $12M | $15M | $14M | $11M | $8M | $13M | $12M | $9M | $4M | $3M | |
| Current Liabilities | $15M | $23M | $68M | $25M | $72M | $82M | $35M | $35M | $11M | $14M | $7M | |
| Capital Leases | $9M | $11M | $9M | $10M | $9M | $10M | $0 | · | · | · | · | |
| Deferred Tax | $7M | $16M | $16M | $0 | · | · | · | · | · | · | · | |
| Other Non-current Liabilities | · | · | · | · | · | · | $0 | $938.0K | $1M | $0 | $290.0K | |
| Total Liabilities | $423M | $442M | $445M | $72M | $137M | $183M | $91M | $50M | $47M | $34M | $22M | |
| Common Stock | $3.0K | $3.0K | $1.0K | $15.0K | $12.0K | $11.0K | $9.0K | $3.0K | $3.0K | $1.0K | $0 | |
| Paid-in Capital | $701M | $690M | $179M | $493M | $457M | $391M | $349M | $280M | $273M | $211M | $1.0K | |
| Retained Earnings | $-822M | $-692M | $-615M | $-395M | $-430M | $-405M | $-336M | $-280M | $-215M | $-152M | $-112M | |
| AOCI | $-5M | $-5M | $-5M | $-5M | $-5M | $-5M | $-5M | $-5M | $-4M | $-5M | $-5M | |
| Stockholders' Equity | $-126M | $-7M | $-440M | $94M | $23M | $-18M | $8M | $-5M | $54M | $55M | $-116M | |
| Liabilities + Equity | $296M | $435M | $305M | $166M | $160M | $165M | $100M | $44M | $101M | $89M | $43M | |
| Shares Outstanding | 26,011,106 | 25,767,369 | 5,397,597 | 5,101,459 | 123,622,965 | 108,071,249 | 86,325,547 | 22,471,776 | · | 18,438,742 | 2,173,399 |
Cash Flow 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $11M | $7M | $23M | $11M | $8M | $5M | $5M | $6M | · | · | · | |
| Deferred Tax | $-9M | $287.0K | $-19M | $0 | $0 | · | · | $0 | · | · | · | |
| Restructuring | $0 | $798.0K | $6M | · | · | · | · | · | · | · | · | |
| Operating Cash Flow | $-74M | $-24M | $-51M | $-32M | $-60M | $35M | $-51M | $-59M | · | $-20M | $-22M | |
| CapEx | $5M | $9M | $206.0K | $1M | $1M | $815.0K | $47.0K | $884.0K | · | $586.0K | $1M | |
| Investing Cash Flow | $-5M | $-9M | $35M | $-15M | $-17M | $-741.0K | $229.0K | $25M | · | $-22M | $-5M | |
| Debt Issued | · | · | · | $0 | $0 | $25M | $0 | $0 | · | · | · | |
| Net Debt Issued | · | $0 | $-27M | $0 | · | $5M | $-3M | $0 | · | $0 | · | |
| Stock Issued | · | · | · | $2M | $52M | $2M | $31M | $0 | · | $3M | $0 | |
| Net Stock Activity | · | · | · | $2M | · | · | $31M | $0 | · | $3M | · | |
| Financing Cash Flow | $-8M | $168M | $-13M | $39M | $53M | $14M | $105M | $697.0K | · | $68M | $44M | |
| Net Change in Cash | $-87M | $136M | $-30M | $-7M | $-25M | $49M | $54M | $-33M | · | $26M | $16M | |
| Free Cash Flow | $-79M | $-33M | $-51M | $-33M | · | $34M | $-51M | $-60M | · | $-20M | · | |
| Levered FCF | · | · | $-54M | $-36M | · | · | · | · | · | · | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -5127.1% | -112.8% | -332.3% | 13.1% | · | -342.4% | -785.6% | -7200.7% | · | -428.9% | · | |
| Net Margin | -4658.6% | -199.0% | -844.9% | 31.9% | · | -415.0% | -829.0% | -7235.4% | · | -448.0% | · | |
| Pretax Margin | -4987.3% | -198.2% | -918.0% | 31.4% | · | · | · | · | · | · | · | |
| EBITDA Margin | -5127.1% | -112.8% | -332.3% | 13.1% | · | -342.4% | -785.6% | -7200.7% | · | -428.9% | · | |
| ROA | -35.6% | -20.9% | -93.3% | 21.7% | · | -52.0% | -76.8% | · | · | -54.8% | · | |
| ROE | 202.4% | 2559.5% | 115.7% | 39.6% | · | 542.6% | -3179.2% | · | · | 117.7% | · | |
| ROIC | 106.1% | 647.8% | 18.1% | 15.8% | · | · | · | · | · | · | · |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 8.7 | 9.4 | 1.3 | 5.9 | · | 1.9 | 2.8 | · | · | 6.3 | · | |
| Quick Ratio | 8.5 | 9.3 | 1.2 | 4.5 | · | 1.8 | 2.7 | · | · | 6.2 | · | |
| Interest Coverage | · | · | -30.5 | 4.8 | · | -36.5 | -34.5 | -43.5 | · | -27.7 | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.1 | 0.1 | 0.7 | · | 0.1 | 0.1 | · | · | 0.1 | · | |
| Receivables Turnover | 2.8 | 11.5 | 4.2 | 13.4 | · | 2.7 | 2.7 | · | · | 15.6 | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -92.8% | 49.6% | -76.5% | 30.2% | 412.6% | · | · | · | · | · | · | |
| Revenue CAGR 3Y | -70.7% | -22.9% | 16.2% | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | -30.0% | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $3M | $39M | $26M | $111M | $85M | $17M | $7M | $903.0K | · | $8M | · | |
| Net Income TTM | $-130M | $-77M | $-220M | $35M | $-26M | $-69M | $-55M | $-65M | · | $-36M | · | |
| Market Cap | $188M | $461M | $3.35B | $5.19B | · | $9.82B | $6.16B | · | · | $9.49B | · | |
| P/E | -1.4 | -4.0 | -0.4 | 339.0 | -444.5 | -133.7 | -58.5 | · | · | · | · | |
| P/S | 67.1 | 11.9 | 128.7 | 46.8 | · | 591.9 | 923.1 | · | · | 1173.7 | · | |
| P/B | -1.5 | -67.8 | -7.6 | 55.3 | · | -545.6 | 734.0 | · | · | 172.6 | · | |
| P / Tangible Book | · | · | · | 55.3 | 536.8 | · | · | · | · | · | · | |
| P / Cash Flow | -2.5 | -19.5 | -65.4 | -164.0 | · | 281.6 | -119.8 | · | · | -482.0 | · | |
| P / FCF | -2.4 | -14.1 | -65.2 | -158.0 | · | 288.4 | -119.7 | · | · | -468.0 | · | |
| Earnings Yield | -69.6% | -25.1% | -240.7% | 0.29% | -0.22% | -0.75% | -1.7% | · | · | · | · |
Income Statement 16
| 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 | $78.0K | $947.0K | $452.0K | $298.0K | $1M | $-759.0K | $387.0K | $33M | $6M | $8M | $7M | $5M | $6M | $17M | $21M | |
| R&D Expense | $20M | $19M | $15M | $14M | $15M | $15M | $11M | $11M | $13M | $10M | $22M | $13M | $18M | $19M | $19M | $17M | |
| SG&A Expense | $9M | $7M | $8M | $8M | $7M | $8M | $7M | $7M | $7M | $9M | $22M | $7M | $6M | $6M | $6M | $6M | |
| Operating Expenses | $29M | $27M | $80M | $22M | $22M | $23M | $26M | $18M | $20M | $19M | $45M | $20M | $24M | $24M | $25M | $22M | |
| Operating Income | $-29M | $-26M | $-79M | $-21M | $-22M | $-22M | $-27M | $-18M | $14M | $-13M | $-36M | $-13M | $-19M | $-18M | $-8M | $-2M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $0 | · | $1M | $752.0K | $808.0K | $807.0K | $802.0K | |
| Interest Income | $1M | $1M | · | · | $2M | $2M | · | · | · | · | · | · | · | · | · | · | |
| Other Non-op | $126.0K | $-3.0K | $-2M | $0 | $-5.0K | $0 | $-444.0K | $250.0K | $292.0K | $508.0K | $-62.0K | $253.0K | $245.0K | $255.0K | $175.0K | $1.0K | |
| Pretax Income | · | · | · | · | · | · | · | · | · | · | $-197M | $-9M | · | · | $6M | $-8M | |
| Income Tax | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $-288.0K | $-321.0K | |
| Net Income | $16M | $-39M | $-93M | $-36M | $16M | $-18M | $-10M | $-24M | $14M | $-57M | $-178M | $-9M | $-11M | $-22M | $6M | $-8M | |
| EPS (Basic) | $0.47 | $-1.46 | $-3.47 | $-1.38 | $0.51 | $-0.68 | $6.57 | $-1.13 | $0.58 | $-10.50 | $-41.55 | $-1.74 | $-2.23 | $-4.24 | $0.00 | $-0.05 | |
| EPS (Diluted) | $0.46 | $-1.46 | $-3.46 | $-1.38 | $0.50 | $-0.68 | $6.60 | $-1.13 | $0.54 | $-10.50 | $-41.55 | $-1.74 | $-2.23 | $-4.24 | $0.01 | $-0.05 | |
| Shares (Basic) | 29,467,130 | 26,855,158 | -51,912,475 | 26,002,892 | 25,980,262 | 25,902,650 | -26,332,085 | 21,471,408 | 16,723,479 | 5,414,020 | -10,216,096 | 5,160,150 | 5,114,747 | 5,111,518 | -280,829,965 | 152,849,992 | |
| Shares (Diluted) | 29,860,880 | 26,855,158 | -52,379,464 | 26,002,892 | 26,447,251 | 25,902,650 | -27,318,628 | 21,471,408 | 17,791,143 | 5,414,020 | -10,216,096 | 5,160,150 | 5,114,747 | 5,111,518 | -283,054,317 | 152,849,992 | |
| EBITDA | $-29M | $-26M | · | $-21M | $-22M | $-22M | · | $-18M | $14M | $-13M | · | $-13M | $-19M | $-18M | · | $-2M |
Balance Sheet 24
| 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 | $148M | $119M | $125M | $143M | $160M | $180M | $213M | $219M | $87M | $103M | $77M | $80M | $112M | $126M | $106M | $113M | |
| Receivables | $196.0K | $261.0K | $1M | $722.0K | $354.0K | $2M | $872.0K | $5M | $32M | $2M | $6M | $5M | $5M | $7M | $7M | $7M | |
| Prepaid Expense | $6M | $3M | $3M | $3M | $3M | $3M | $3M | $4M | $2M | $3M | $5M | $3M | $4M | $4M | $4M | $6M | |
| Current Assets | $154M | $122M | $129M | $147M | $163M | $185M | $217M | $229M | $125M | $111M | $91M | $90M | $123M | $138M | $148M | $160M | |
| PP&E (Net) | $11M | $12M | $12M | $12M | $12M | $10M | $10M | $10M | $7M | $2M | $2M | $2M | $3M | $3M | $3M | $3M | |
| PP&E (Gross) | $17M | $17M | $17M | $17M | $16M | $13M | $12M | $17M | $13M | $8M | $8M | $8M | $8M | $8M | $8M | $8M | |
| Accum. Depreciation | $6M | $5M | $5M | $4M | $4M | $3M | $2M | $6M | $6M | $6M | $6M | $6M | $6M | $5M | $5M | $5M | |
| Goodwill | $48M | $48M | $48M | $48M | $48M | $48M | $48M | $48M | $48M | $48M | $48M | · | · | · | $0 | · | |
| Other Non-current Assets | · | · | · | · | $6M | $6M | · | · | · | · | $0 | · | · | · | · | · | |
| Total Assets | $319M | $288M | $296M | $373M | $389M | $409M | $435M | $455M | $348M | $325M | $305M | $106M | $140M | $156M | $166M | $178M | |
| Accounts Payable | $1M | $2M | $1M | $2M | $454.0K | $2M | $288.0K | $517.0K | $3M | $3M | $3M | $375.0K | $267.0K | $1M | $316.0K | $214.0K | |
| Accrued Liabilities | $15M | $10M | $9M | $8M | $8M | $9M | $12M | $9M | $11M | $9M | $15M | $14M | $13M | $9M | $14M | $12M | |
| Current Liabilities | $21M | $16M | $15M | $14M | $12M | $15M | $23M | $21M | $26M | $37M | $68M | $20M | $29M | $27M | $25M | $24M | |
| Capital Leases | $7M | $8M | $9M | $9M | $10M | $10M | $11M | $12M | $12M | $8M | $9M | $9M | $9M | $10M | $10M | $11M | |
| Deferred Tax | $7M | $7M | $7M | $16M | $16M | $16M | $16M | $16M | $16M | $16M | $16M | · | · | · | $0 | · | |
| Total Liabilities | $444M | $437M | $423M | $409M | $391M | $431M | $442M | $455M | $449M | $442M | $445M | $46M | $74M | $81M | $72M | $93M | |
| Total Debt | $53M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Common Stock | $3.0K | $3.0K | $3.0K | $3.0K | $3.0K | $3.0K | $3.0K | $2.0K | $2.0K | $1.0K | $1.0K | $15.0K | $15.0K | $15.0K | $15.0K | $15.0K | |
| Paid-in Capital | $725M | $718M | $701M | $699M | $696M | $693M | $690M | $687M | $561M | $559M | $179M | $502M | $498M | $496M | $493M | $490M | |
| Retained Earnings | $-846M | $-862M | $-822M | $-730M | $-694M | $-710M | $-692M | $-682M | $-658M | $-671M | $-615M | $-437M | $-428M | $-417M | $-395M | $-401M | |
| AOCI | $-5M | $-5M | $-5M | $-5M | $-5M | $-5M | $-5M | $-5M | $-5M | $-5M | $-5M | $-5M | $-5M | $-5M | $-5M | $-5M | |
| Stockholders' Equity | $-125M | $-148M | $-126M | $-36M | $-3M | $-22M | $-7M | $752.0K | $-101M | $-117M | $-440M | $60M | $65M | $75M | $94M | $85M | |
| Liabilities + Equity | $319M | $288M | $296M | $373M | $389M | $409M | $435M | $455M | $348M | $325M | $305M | $106M | $140M | $156M | $166M | $178M | |
| Shares Outstanding | 30,037,962 | 28,544,728 | 26,011,106 | 26,003,606 | 26,000,065 | 25,936,101 | 25,767,369 | 23,896,525 | 17,816,238 | 5,515,836 | 5,397,597 | 154,854,032 | 153,427,571 | 153,426,983 | 153,042,435 | 153,028,822 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $2M | $2M | $2M | $3M | $3M | $3M | $2M | $2M | $2M | $1M | $14M | $2M | $4M | $2M | $2M | $3M | |
| Restructuring | · | · | $0 | $0 | $0 | $0 | $21.0K | $-23.0K | $505.0K | $292.0K | · | · | · | · | · | · | |
| Operating Cash Flow | $-21M | $-22M | $-18M | $-16M | $-18M | $-23M | $-7M | $14M | $-14M | $-16M | $-23M | $-9M | $-10M | $-9M | $-12M | $4M | |
| CapEx | $272.0K | $27.0K | $492.0K | $1M | $3M | $1M | $705.0K | $6M | $2M | $602.0K | $64.0K | $0 | $12.0K | $130.0K | $211.0K | $436.0K | |
| Investing Cash Flow | $-272.0K | $-27.0K | $-492.0K | $-1M | $-3M | $-1M | $-354.0K | $-6M | $-2M | $-602.0K | $6M | $0 | $-12.0K | $28M | $5M | $-30M | |
| Stock Issued | $4M | $15M | · | · | $0 | $0 | · | · | · | · | · | · | · | · | · | · | |
| Net Stock Activity | · | $15M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $50M | $16M | $-52.0K | $-38.0K | $60.0K | $-8M | $783.0K | $124M | $120.0K | $43M | $14M | $-25M | $-3M | $149.0K | $0 | $612.0K | |
| Net Change in Cash | $29M | $-6M | $-18M | $-17M | $-20M | $-32M | $-7M | $132M | $-16M | $27M | $-3M | $-34M | $-13M | $19M | $-6M | $-25M | |
| Free Cash Flow | · | $-22M | · | · | · | $-24M | · | · | · | $-17M | · | · | · | $-9M | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | · | -33973.1% | · | -4660.6% | -7319.1% | -1989.9% | · | -4541.3% | 41.1% | -228.6% | · | -199.4% | -355.1% | -309.6% | · | -7.7% | |
| Net Margin | · | -50233.3% | · | -7942.9% | 5330.9% | -1610.0% | · | -6248.8% | 41.4% | -973.0% | · | -137.4% | -216.9% | -364.8% | · | -38.1% | |
| Pretax Margin | · | · | · | · | · | · | · | · | · | · | · | -137.4% | · | · | · | -39.7% | |
| EBITDA Margin | · | -33973.1% | · | -4660.6% | -7319.1% | -1989.9% | · | -4541.3% | 41.1% | -228.6% | · | -199.4% | -355.1% | -309.6% | · | -7.7% | |
| ROA | 4.5% | -11.2% | · | -8.7% | 4.3% | -4.8% | · | -8.6% | 5.7% | -23.6% | · | -6.3% | -7.0% | -14.4% | · | -4.6% | |
| ROE | -24.7% | 46.1% | · | 204.6% | -30.6% | 25.6% | · | -79.2% | -76.8% | 269.2% | · | -12.4% | -14.7% | -33.2% | · | -23.8% | |
| ROIC | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | -1.8% |
Liquidity & Solvency 5
| 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 | 7.5 | 7.7 | · | 10.7 | 13.3 | 12.3 | · | 10.7 | 4.8 | 3.0 | · | 4.5 | 4.2 | 5.2 | · | 6.7 | |
| Quick Ratio | 7.2 | 7.5 | · | 10.4 | 13.1 | 12.1 | · | 10.5 | 4.6 | 2.9 | · | 4.2 | 4.0 | 5.0 | · | 5.0 | |
| Debt / Equity | -0.4 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| LT Debt / Equity | -0.4 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | · | · | -10.3 | -24.8 | -22.7 | · | -2.0 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.1 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.1 | |
| Receivables Turnover | 0.0 | 0.1 | · | 0.2 | 0.0 | 0.6 | · | 0.1 | 1.8 | 1.3 | · | 1.1 | 0.4 | 0.8 | · | 2.9 |
Valuation (TTM) 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 TTM | $828.0K | $2M | · | $2M | $35M | $41M | · | $46M | $51M | $24M | · | $38M | $71M | $100M | · | $118M | |
| Net Income TTM | $-43M | $-77M | · | $-62M | $-12M | $-85M | · | $-76M | $-63M | $-99M | · | $-50M | $-32M | $8M | · | $12M | |
| Market Cap | $313M | $176M | · | $266M | $270M | $342M | · | $385M | $481M | $108M | · | $4.92B | $5.16B | $6.40B | · | $7.53B | |
| Enterprise Value | $218M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| P/E | -5.5 | -2.0 | · | -3.8 | -13.5 | -1.1 | · | -1.3 | -1.9 | -1.0 | · | -3.8 | -5.2 | -10.0 | · | -702.9 | |
| P/S | 378.0 | 91.1 | · | 118.8 | 7.7 | 8.4 | · | 8.3 | 9.4 | 4.6 | · | 128.1 | 72.4 | 64.0 | · | 63.6 | |
| P/B | -2.5 | -1.2 | · | -7.4 | -106.9 | -15.7 | · | 512.2 | -4.7 | -0.9 | · | 81.6 | 78.8 | 85.8 | · | 88.7 | |
| P / Tangible Book | · | · | · | · | · | · | · | · | · | · | · | 81.6 | 78.8 | 85.8 | · | 88.7 | |
| P / Cash Flow | · | -7.9 | · | · | · | -14.8 | · | · | · | -6.8 | · | · | · | -729.9 | · | · | |
| P / FCF | · | -7.9 | · | · | · | -14.1 | · | · | · | -6.5 | · | · | · | -719.3 | · | · | |
| EV / EBITDA | -7.5 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| EV / Revenue | 263.6 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Earnings Yield | -18.0% | -49.1% | · | -26.3% | -7.4% | -89.3% | · | -79.6% | -51.6% | -96.0% | · | -26.0% | -19.2% | -10.0% | · | -0.14% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $3M | $39M | $26M | $111M | $85M |
| Operating Margin % | -5127.1% | -112.8% | -332.3% | 13.1% | — |
| Net Income | $-130M | $-77M | $-220M | $35M | $-26M |
| Diluted EPS | $-5.02 | $-4.49 | $-49.76 | $0.10 | $-0.22 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 8.7 | 9.4 | 1.3 | 5.9 | — |
| Quick Ratio | 8.5 | 9.3 | 1.2 | 4.5 | — |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-79M | $-33M | $-51M | $-33M | — |
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Institutional owners (13F) 105 filers · $71.0M 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 |
|---|---|---|---|---|
| 33 (+9 vs prior Q) | 11 (-1 vs prior Q) | 37 (+12 vs prior Q) | 12 (-2 vs prior Q) | +1.6M |
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 |
|---|---|---|---|---|
| Squarepoint Ops LLC | $23,493,130 | 2,254,619 | 33.07% | Shares |
| 683 Capital Management, LLC | $6,773,001 | 650,000 | 9.53% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $5,791,676 | 555,823 | 8.15% | Shares |
| FMR LLC | $3,839,030 | 368,429 | 5.40% | Shares |
| MILLENNIUM MANAGEMENT LLC | $3,229,023 | 309,887 | 4.55% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $3,101,727 | 297,630 | 4.37% | Shares |
| TWO SIGMA INVESTMENTS, LP | $3,087,373 | 296,293 | 4.35% | Shares |
| STATE STREET CORP | $2,596,789 | 249,212 | 3.66% | Shares |
| Privium Fund Management B.V. | $1,580,454 | 151,675 | 2.22% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,351,474 | 129,700 | 1.90% | Call option |
| ADAR1 Capital Management, LLC | $1,030,298 | 98,877 | 1.45% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $957,119 | 91,854 | 1.35% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $909,843 | 87,317 | 1.28% | Shares |
| DIADEMA PARTNERS LP | $907,134 | 87,057 | 1.28% | Shares |
| BANK OF AMERICA CORP /DE/ | $881,782 | 84,624 | 1.24% | Shares |
| Walleye Capital LLC | $852,648 | 81,828 | 1.20% | Shares |
| Nuveen Asset Management, LLC | $852,552 | 47,602 | 1.20% | Shares |
| GOLDMAN SACHS GROUP INC | $839,560 | 80,572 | 1.18% | Shares |
| Jump Financial, LLC | $696,056 | 66,800 | 0.98% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $666,640 | 63,977 | 0.94% | Shares |
| CM Management, LLC | $625,200 | 60,000 | 0.88% | Shares |
| Point72 Asset Management, L.P. | $454,590 | 43,627 | 0.64% | Shares |
| Trexquant Investment LP | $427,699 | 41,046 | 0.60% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $338,650 | 32,500 | 0.48% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $335,191 | 32,168 | 0.47% | Shares |
| D. E. Shaw & Co., Inc. | $298,543 | 28,651 | 0.42% | Shares |
| Atlatl Advisers LLC | $297,064 | 28,509 | 0.42% | Shares |
| IEQ CAPITAL, LLC | $264,835 | 25,416 | 0.37% | Shares |
| TWIN FOCUS CAPITAL PARTNERS, LLC | $260,500 | 25,000 | 0.37% | Shares |
| Persistent Asset Partners Ltd | $231,230 | 22,191 | 0.33% | Shares |
| Miller Financial Services LLC | $230,730 | 22,143 | 0.32% | Shares |
| Erste Asset Management GmbH | $227,176 | 23,566 | 0.32% | Shares |
| Ikarian Capital, LLC | $216,809 | 20,807 | 0.31% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $212,568 | 20,400 | 0.30% | Put option |
| RENAISSANCE TECHNOLOGIES LLC | $211,526 | 20,300 | 0.30% | Shares |
| XTX Topco Ltd | $202,096 | 19,395 | 0.28% | Shares |
| Brevan Howard Capital Management LP | $201,783 | 19,365 | 0.28% | Shares |
| TWO SIGMA ADVISERS, LP | $178,866 | 24,808 | 0.25% | Shares |
| Mariner, LLC | $154,334 | 14,813 | 0.22% | Shares |
| MARSHALL WACE, LLP | $150,778 | 14,470 | 0.21% | Shares |
| Cerity Partners LLC | $145,870 | 13,999 | 0.21% | Shares |
| JANE STREET GROUP, LLC | $141,712 | 13,600 | 0.20% | Call option |
| RHUMBLINE ADVISERS | $140,589 | 13,493 | 0.20% | Shares |
| ALLIANCEBERNSTEIN L.P. | $136,007 | 22,115 | 0.19% | Shares |
| SEI INVESTMENTS CO | $133,001 | 12,764 | 0.19% | Shares |
| Nuveen, LLC | $133,001 | 12,764 | 0.19% | Shares |
| JANE STREET GROUP, LLC | $123,206 | 11,824 | 0.17% | Shares |
| Bank of New York Mellon Corp | $118,007 | 11,325 | 0.17% | Shares |
| JANE STREET GROUP, LLC | $112,536 | 10,800 | 0.16% | Put option |
| MERCER GLOBAL ADVISORS INC /ADV | $76,306 | 7,323 | 0.11% | Shares |
| Arax Advisory Partners | $67,469 | 6,475 | 0.09% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $62,989 | 6,045 | 0.09% | Shares |
| CITIGROUP INC | $55,351 | 5,312 | 0.08% | Shares |
| Invesco Ltd. | $53,528 | 5,137 | 0.08% | Shares |
| AlphaQuest LLC | $49,922 | 6,924 | 0.07% | Shares |
| Russell Investments Group, Ltd. | $49,724 | 4,772 | 0.07% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $40,659 | 3,902 | 0.06% | Shares |
| BlackRock, Inc. | $39,752 | 3,815 | 0.06% | Shares |
| Vanguard Global Advisers, LLC | $37,825 | 3,630 | 0.05% | Shares |
| BARCLAYS PLC | $31,051 | 2,980 | 0.04% | Shares |
| Police & Firemen's Retirement System of New Jersey | $30,624 | 2,939 | 0.04% | Shares |
| CWM, LLC | $28,511 | 4,636 | 0.04% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $27,878 | 4,533 | 0.04% | Shares |
| VANGUARD GROUP INC | $26,172 | 3,630 | 0.04% | Shares |
| NORTHERN TRUST CORP | $21,788 | 2,091 | 0.03% | Shares |
| Tower Research Capital LLC (TRC) | $21,715 | 2,084 | 0.03% | Shares |
| Strategic Wealth Partners, Ltd. | $21,142 | 2,029 | 0.03% | Shares |
| NISA INVESTMENT ADVISORS, LLC | $16,672 | 1,600 | 0.02% | Shares |
| Integrated Wealth Concepts LLC | $16,275 | 1,562 | 0.02% | Shares |
| WELLS FARGO & COMPANY/MN | $15,974 | 1,533 | 0.02% | Shares |
| Legal & General Group Plc | $15,325 | 1,475 | 0.02% | Shares |
| North Star Investment Management Corp. | $11,295 | 1,084 | 0.02% | Shares |
| ALERUS FINANCIAL NA | $10,420 | 1,000 | 0.01% | Shares |
| Allworth Financial LP | $8,066 | 774 | 0.01% | Shares |
| Ameritas Investment Partners, Inc. | $7,377 | 708 | 0.01% | Shares |
| SBI Securities Co., Ltd. | $5,721 | 549 | 0.01% | Shares |
| Essential Partners LLC | $4,501 | 432 | 0.01% | Shares |
| ROYAL BANK OF CANADA | $4,000 | 391 | 0.01% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $3,487 | 567 | 0.00% | Shares |
| OSAIC HOLDINGS, INC. | $3,145 | 302 | 0.00% | Shares |
| UBS Group AG | $2,730 | 262 | 0.00% | Shares |
| Caitong International Asset Management Co., Ltd | $2,720 | 261 | 0.00% | Shares |
| Sterling Capital Management LLC | $2,480 | 238 | 0.00% | Shares |
| MORGAN STANLEY | $2,459 | 236 | 0.00% | Shares |
| IFP Advisors, Inc | $2,209 | 212 | 0.00% | Shares |
| GAMMA Investing LLC | $2,136 | 205 | 0.00% | Shares |
| DEUTSCHE BANK AG\ | $1,917 | 184 | 0.00% | Shares |
| ROTHSCHILD INVESTMENT LLC | $1,605 | 154 | 0.00% | Shares |
| Farther Finance Advisors, LLC | $1,389 | 135 | 0.00% | Shares |
| JPMORGAN CHASE & CO | $1,359 | 141 | 0.00% | Shares |
| PNC Financial Services Group, Inc. | $1,292 | 124 | 0.00% | Shares |
| True Wealth Design, LLC | $1,272 | 122 | 0.00% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $1,032 | 99 | 0.00% | Shares |
| Activest Wealth Management | $688 | 66 | 0.00% | Shares |
| EverSource Wealth Advisors, LLC | $677 | 65 | 0.00% | Shares |
| WR Wealth Planners, LLC | $591 | 233 | 0.00% | Shares |
| ACADIAN ASSET MANAGEMENT LLC | $287 | 27,746 | 0.00% | Shares |
| SJS Investment Consulting Inc. | $219 | 21 | 0.00% | Shares |
| Quarry LP | $156 | 15 | 0.00% | Shares |
| PRICE T ROWE ASSOCIATES INC /MD/ | $113 | 10,758 | 0.00% | Shares |
Company insiders 23 insiders · 10 officers · 12 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Carsten Brunn | President & CEO | July 1, 2020 A | — | 0 | 0 | $0 |
| Werner Cautreels | President and CEO | June 21, 2016 A | — | 0 | 0 | $0 |
| David Siewers | Chief Financial Officer | June 21, 2016 A | — | 0 | 0 | $0 |
| Lloyd P. Johnston | COO & SVP, R&D | July 1, 2020 A | 1,606 | 0 | 0 | $0 |
| Metin Kurtoglu | Chief Operations Officer | Nov. 13, 2023 A | — | 0 | 0 | $0 |
| Milos Miljkovic | Chief Medical Officer | Nov. 13, 2023 A | — | 0 | 0 | $0 |
| Christopher M Jewell | Chief Scientific Officer | Nov. 13, 2023 A | — | 0 | 0 | $0 |
| David Abraham | CCO, Gen.Counsel, Corp.Sec. | Dec. 21, 2016 M | 0 | 0 | 0 | $0 |
| Peter Keller | Chief Business Officer | Dec. 19, 2016 S | 405 | 0 | 0 | $0 |
| Earl Sands | Chief Medical Officer | June 21, 2016 A | — | 0 | 0 | $0 |
| Michael Singer | Director | Nov. 13, 2023 J | 7,616 | 0 | 0 | $0 |
| Murat Kalayoglu | Director | Nov. 13, 2023 P | 3,303,699 | 0 | 0 | $0 |
| Scott Dunseth Myers | Director | Dec. 23, 2019 A | 80,845 | 0 | 0 | $0 |
| Timothy C Barabe | Director | Dec. 23, 2019 A | 83,173 | 0 | 0 | $0 |
| COX CARRIE SMITH | Director | Dec. 23, 2019 A | 65,681 | 0 | 0 | $0 |
| Timothy A. Springer | Director | Dec. 23, 2019 A | 5,486,463 | 0 | 0 | $0 |
| Amir Nashat | Director | Jan. 25, 2019 P | 2,676,234 | 0 | 0 | $0 |
| Edwin M Kania JR | Director | May 16, 2017 S | 560,067 | 0 | 0 | $0 |
| Omid Farokhzad | Director | March 23, 2017 M | 188,004 | 0 | 0 | $0 |
| GORDON CARL L | Director | June 27, 2016 C | 1,825,415 | 0 | 0 | $0 |
| RUSNANO | 10% owner | June 27, 2016 C | 1,476,177 | 0 | 0 | $0 |
| Bradford D. Dahms | — | July 1, 2020 A | — | 0 | 0 | $0 |
| Takashi Kei Kishimoto | — | Dec. 28, 2016 M | 0 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 5 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 |
|---|---|---|---|---|---|
| Murat Kalayoglu, Seven One Eight Three Four Irrevocable Trust, Elizabeth Hoge, Sinan Kalayoglu ×4 filings | April 2, 2026 | 19.90% | Amendment | — | SEC |
| Timothy A. Springer, TAS Partners LLC, Chafen Lu ×20 filings | Jan. 15, 2025 | 36.90% | Amendment | — | SEC |
| Michael Singer, Thirsty Brook 2010 Irrevocable Trust, Singer Asefzadeh Family Holding Trust, Bakezilla 2019 Irrevocable Trust, Baharak Asefzadeh, Barbara P. Martin ×2 filings | April 10, 2024 | — | Initial filing | — | SEC |
| Polaris Venture Partners V, L.P. (“PVP V”), Polaris Venture Partners Entrepreneurs’ Fund V, L.P. (“PVPE V”), Polaris Venture Partners Founders’ Fund V, L.P. (“PVPFF V”), Polaris Venture Partners Special Founders’ Fund V, L.P. (“PVPSFF V”), Polaris Venture Management Co. V, L.L.C. (“PVM V”), Jonathan A. Flint, Terrance G. McGuire, Amir Nashat ×5 filings | Feb. 12, 2020 | — | Initial filing | — | SEC |
| OrbiMed Advisors LLC, OrbiMed Capital GP III LLC ×6 filings | Feb. 5, 2020 | — | 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 16 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 |
|---|---|---|---|---|
| QQQS · Invesco Exchange-Traded Fund Trust … | 0.58% | 14,831 SH | Aug. 8, 2026 | Daily |
| IWC · iShares Trust | 0.03% | 44,124 SH | Aug. 8, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.01% | 10,285 SH | Aug. 8, 2026 | Daily |
| IWN · iShares Trust | 0.01% | 93,935 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.00% | 331,773 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.00% | 4,929 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.00% | 494 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.00% | 386 NS | May 31, 2026 | N-PORT |
| IWO · iShares Trust | 0.00% | 16,635 SH | Aug. 8, 2026 | Daily |
| URTY · ProShares Trust | 0.00% | 390 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 11 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 169,730 SH | Aug. 8, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 376,309 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.00% | 74,975 SH | Aug. 8, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.00% | 1,441 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 616 SH | Aug. 8, 2026 | Daily |