ZYME Zymeworks Inc. - Common Stock
$25.55
Price · Aug 18, 2026
Fundamentals as of Aug 6, 2026
52W Range
$13–$30
74% of range
Analyst Rating
BUY
18 analysts
Price Target
$40
+58% upside
P/E (TTM)
-23.7
ROE
-26.9%
Net Profit Margin
-76.6%
About Zymeworks Inc. - Common Stock Company overview from Wikipedia
Zymeworks Inc. is a publicly held biotechnology company based in Vancouver, British Columbia, that develops protein therapeutics for the treatment of cancer as well as for autoimmune and inflammatory diseases. The products are based upon the company's molecular modeling software for optimizing protein structure. In 2014, Zymeworks raised $44 million across various funding rounds according to PitchBook, placing it among the top 10 HealthTech businesses in the world to raise the most capital that year. In May 2017, Zymeworks held an IPO on the Toronto Stock Exchange, raising $59 million. This was the largest Canadian biotech IPO in more than a decade. By alphabetical order, Zymeworks is the last company on the Toronto Stock Exchange.
Read more
Zymeworks Inc. is a publicly held biotechnology company based in Vancouver,
British Columbia, that develops protein therapeutics for the treatment of cancer as well as for autoimmune and inflammatory diseases. The products are based upon the company's molecular modeling software for optimizing protein structure. In 2014, Zymeworks raised $44 million across various funding rounds according to PitchBook, placing it among the top 10 HealthTech businesses in the world to raise the most capital that year. In May 2017, Zymeworks held an IPO on the Toronto Stock Exchange, raising $59 million. This was the largest Canadian biotech IPO in more than a decade. By alphabetical order, Zymeworks is the last company on the Toronto Stock Exchange.
In May 2019, Zymeworks announced that GSK has expanded its 2016 licensing and collaboration agreement for the research, development and commercialization of bispecific antibodies across multiple disease areas. The extended agreement has meant that GSK can have access to Zymeworks' heavy-light chain pairing technology, which enables the development of bispecific and multifunctional therapeutics.
In September 2019, Zymeworks announced that, following their clinical trials, it has been confirmed that their ZW25 monotherapy can provide durable disease control in patients with a variety of HER2-expressing solid tumors that have progressed following standard of care treatments.
In May 2022, Zymeworks rejected an unsolicited takeover proposal from a Dubai hedge fund, All Blue Falcons FZE, an arm of All Blue Capital.
Azymetric
This is an IgG1-based heterodimeric antibody scaffold that consists of two different heavy chains engineered to exclusively assemble into a single molecule, allowing bi-specific binding to two different antigens or drug targets. The Azymetric scaffold is engineered by making amino acid changes in the CH3 region of the constant Fc domain of the IgG1. This scaffold can also be engineered with tailored effector function and optimized serum half-life.
Awards and recognition
Deal of the Year, Lifesciences BC Awards, 2018
Life Sciences Company of the Year, Lifesciences BC Awards, 2016
Emerging company of the year – Health, BIOTECanada Gold Leaf Awards, 2015
12th Place, BC's Leading Innovators, 2011
Life Science Emerging Rocket, 2009, 2010, 2011
Early stage Company of the year – Industrial & Agriculture, BIOTECanada Gold Leaf Awards, 2009
== References ==
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
ZYME Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$25.55
Market Cap
$1.91B
P/E (TTM)
-23.7
EPS (TTM)
$-1.08
Revenue (TTM)
$106M
Div Yield
—
ROE
-26.9%
Debt/Equity
—
52W Range
$13 – $30
ZYME Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$106M
2020-12-31
→
2025-12-31
EPS
$-1.08
2020-12-31
→
2025-12-31
Free Cash Flow
$-35M
2023-12-31
→
2025-12-31
Margins
-76.6%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
ZYME
Peer Median
P/E (TTM)
-23.7
—
P/S (TTM)
18.0
418.4
P/B
7.1
2.3
Price / FCF
-55.2
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
ZYME
Peer Median
Operating Margin
-87.3%
—
Net Profit Margin
-76.6%
-549.8%
ROA
-20.0%
-41.8%
ROE
-26.9%
-54.1%
ROIC
-35.1%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
ZYME
Peer Median
Current Ratio
5.9
12.6
Quick Ratio
1.1
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
ZYME
Peer Median
Revenue YoY
38.9%
—
Revenue CAGR 3Y
-36.4%
—
Revenue CAGR 5Y
22.2%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
ZYME
Peer Median
ZYME Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
18 analysts
- Strong Buy 6 33.3%
- Buy 11 61.1%
- Hold 1 5.6%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
12 analysts · 2026-08-16
Median
$38.50
← Below all targets
$25.55
Low
$31.00
High
$58.00
Median target
$38.50
+50.7%
Mean target
$40.33
+57.8%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.01%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.62 | $-0.50 | -0.12% |
| March 31, 2026 | $-0.59 | $-0.20 | -0.39% |
| Dec. 31, 2025 | $-0.55 | $-0.42 | -0.13% |
| Sept. 30, 2025 | $-0.26 | $-0.33 | 0.07% |
| June 30, 2025 | $0.03 | $-0.50 | 0.53% |
| March 31, 2025 | $-0.30 | $-0.42 | 0.12% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| ZYME | $1.97B | -24.4 | 38.9% | -76.6% | -26.9% | — |
| AUPH | $2.11B | 7.7 | 20.4% | 101.5% | 62.7% | — |
| ABUS | $926M | -28.3 | 128.2% | -237.9% | -42.0% | — |
| ACOG | $141M | -5.5 | — | -202.2% | -43.8% | — |
| PMN | $15M | -0.3 | — | — | 4840.3% | — |
| XENE | $3.59B | -10.3 | — | -4612.1% | -56.9% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Revenue | $106M | $76M | $76M | $412M | $27M | |
| R&D Expense | · | · | $144M | $209M | $200M | |
| SG&A Expense | $62M | $62M | $70M | $73M | $43M | |
| Operating Expenses | $199M | $213M | $214M | $282M | $242M | |
| Operating Income | $-93M | $-137M | $-138M | $131M | $-216M | |
| Other Non-op | $51.0K | $-218.0K | $291.0K | $-42.0K | $118.0K | |
| Pretax Income | $-80M | $-117M | $-119M | $135M | $-212M | |
| Income Tax | $1M | $6M | $-568.0K | $11M | $-516.0K | |
| Net Income | $-81M | $-123M | $-119M | $124M | $-212M | |
| EPS (Basic) | $-1.08 | $-1.62 | $-1.72 | $1.91 | $-4.11 | |
| EPS (Diluted) | $-1.08 | $-1.62 | $-1.72 | $1.90 | $-4.61 | |
| Shares (Basic) | 75,404,897 | 75,846,681 | 68,863,010 | 65,194,775 | 51,553,869 | |
| Shares (Diluted) | 75,413,396 | 75,878,738 | 68,863,010 | 65,249,184 | 52,131,596 | |
| EBITDA | $-93M | $-137M | $-138M | · | · |
Balance Sheet 23
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $41M | $66M | $158M | $401M | $202M | |
| Short-term Investments | · | · | $217M | $91M | $51M | |
| Receivables | $5M | $56M | $19M | $33M | $16M | |
| Prepaid Expense | $15M | $19M | $19M | $19M | $20M | |
| Current Assets | $249M | $300M | $413M | $545M | $288M | |
| PP&E (Net) | $16M | $18M | $20M | $25M | $23M | |
| PP&E (Gross) | $36M | $35M | $41M | $38M | $37M | |
| Accum. Depreciation | $21M | $18M | $21M | $13M | $14M | |
| Goodwill | $12M | $12M | $12M | $12M | $12M | |
| Intangibles | $1M | $5M | $8M | $9M | $4M | |
| Total Assets | $347M | $463M | $581M | $649M | $389M | |
| Accounts Payable | $36M | $60M | $46M | $87M | $63M | |
| Current Liabilities | $42M | $88M | $56M | $96M | $72M | |
| Capital Leases | $15M | $16M | $22M | $25M | $31M | |
| Deferred Tax | $6M | $5M | $3M | $2M | $2M | |
| Other Non-current Liabilities | $278.0K | $923.0K | $2M | $3M | $3M | |
| Total Liabilities | $78M | $124M | $116M | $156M | $140M | |
| Common Stock | $1.11B | $1.02B | $997M | $886M | $741M | |
| Retained Earnings | $-953M | $-830M | $-677M | $-559M | $-683M | |
| AOCI | $-6M | $-7M | $-7M | $-7M | $-7M | |
| Stockholders' Equity | $269M | $339M | $465M | $493M | $249M | |
| Liabilities + Equity | $347M | $463M | $581M | $649M | $389M | |
| Shares Outstanding | 74,638,413 | 68,964,319 | 70,115,997 | 63,059,501 | 46,633,935 |
Cash Flow 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Stock-based Comp | $28M | $18M | $8M | $4M | $11M | |
| Deferred Tax | $945.0K | $691.0K | $-757.0K | $2M | $-953.0K | |
| Amort. of Intangibles | $4M | $4M | $3M | $1M | $3M | |
| Restructuring | · | · | $0 | · | · | |
| Operating Cash Flow | $-33M | $-110M | $-118M | $144M | $-192M | |
| CapEx | $2M | $2M | $2M | $8M | $12M | |
| Investing Cash Flow | $27M | $39M | $-207M | $-54M | $145M | |
| Stock Issued | $0 | $0 | $26M | $108M | $0 | |
| Stock Repurchased | $42M | $30M | $0 | $0 | · | |
| Net Stock Activity | $-42M | $-30M | $26M | · | · | |
| Financing Cash Flow | $-19M | $-20M | $82M | $109M | $8M | |
| Net Change in Cash | $-25M | $-91M | $-243M | $199M | $-40M | |
| Taxes Paid | $1M | $3M | $165.0K | $10M | · | |
| Free Cash Flow | $-35M | $-112M | $-121M | · | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Operating Margin | -87.3% | -179.7% | -181.6% | · | · | |
| Net Margin | -76.6% | -160.8% | -156.1% | · | · | |
| Pretax Margin | -75.3% | -152.8% | -156.9% | · | · | |
| EBITDA Margin | -87.3% | -179.7% | -181.6% | · | · | |
| ROA | -20.0% | -23.5% | -19.3% | · | · | |
| ROE | -26.9% | -34.8% | -26.7% | · | · | |
| ROIC | -35.1% | -42.6% | -29.6% | · | · |
Liquidity & Solvency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Current Ratio | 5.9 | 3.4 | 7.4 | · | · | |
| Quick Ratio | 1.1 | 1.4 | 7.1 | · | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.1 | 0.1 | · | · | |
| Receivables Turnover | 3.5 | 2.0 | 2.9 | · | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Revenue YoY | 38.9% | 0.38% | -81.6% | 1446.0% | -31.5% | |
| Revenue CAGR 3Y | -36.4% | 41.9% | 25.0% | · | · | |
| Revenue CAGR 5Y | 22.2% | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Revenue TTM | $106M | $76M | $76M | $412M | · | |
| Net Income TTM | $-81M | $-123M | $-119M | $124M | · | |
| Market Cap | $1.97B | $1.01B | $729M | · | · | |
| P/E | -24.4 | -9.0 | -6.0 | 4.1 | · | |
| P/S | 18.5 | 13.2 | 9.6 | · | · | |
| P/B | 7.3 | 3.0 | 1.6 | · | · | |
| P / Tangible Book | 7.7 | 3.1 | 1.6 | 1.0 | · | |
| P / Cash Flow | -59.5 | -9.2 | -6.2 | · | · | |
| P / FCF | -56.9 | -9.0 | -6.0 | · | · | |
| Earnings Yield | -4.1% | -11.1% | -16.6% | 24.2% | · |
Income Statement 14
| 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 | $5M | $2M | $3M | $28M | $49M | $27M | $31M | $16M | $19M | $10M | $17M | $17M | $7M | $36M | $402M | $3M | |
| R&D Expense | · | · | · | · | · | · | · | · | · | $32M | · | $33M | $39M | $46M | · | $37M | |
| SG&A Expense | $19M | $15M | $15M | $14M | $15M | $17M | $16M | $14M | $16M | $16M | $15M | $17M | $22M | $17M | $30M | $16M | |
| Operating Expenses | $47M | $50M | $47M | $50M | $49M | $53M | $53M | $50M | $62M | $48M | $40M | $50M | $61M | $63M | $83M | $53M | |
| Operating Income | $-42M | $-47M | $-44M | $-22M | $-674.0K | $-26M | $-22M | $-34M | $-43M | $-38M | $-23M | $-33M | $-54M | $-27M | $319M | $-50M | |
| Other Non-op | $196.0K | $120.0K | $-18.0K | $26.0K | $-621.0K | $49.0K | $-253.0K | $-37.0K | $53.0K | $19.0K | $-278.0K | $370.0K | $230.0K | $-31.0K | $-27.0K | $-98.0K | |
| Pretax Income | $-45M | $-46M | $-41M | $-18M | $2M | $-22M | $-18M | $-30M | $-38M | $-32M | $-19M | $-28M | $-49M | $-23M | $320M | $-48M | |
| Income Tax | $-273.0K | $-2M | $-270.0K | $1M | $-186.0K | $496.0K | $6M | $226.0K | $68.0K | $75.0K | $-5M | $1M | $2M | $1M | $11M | $-29.0K | |
| Net Income | $-45M | $-44M | $-41M | $-20M | $2M | $-23M | $-24M | $-30M | $-38M | $-32M | $-14M | $-29M | $-51M | $-24M | $309M | $-48M | |
| EPS (Basic) | $-0.62 | $-0.59 | $-0.55 | $-0.26 | $0.03 | $-0.30 | $-0.32 | $-0.39 | $-0.49 | $-0.42 | $-0.19 | $-0.41 | $-0.76 | $-0.36 | $4.78 | $-0.72 | |
| EPS (Diluted) | $-0.62 | $-0.59 | $-0.55 | $-0.26 | $0.03 | $-0.30 | $-0.32 | $-0.39 | $-0.49 | $-0.42 | $-0.18 | $-0.41 | $-0.76 | $-0.37 | $4.78 | $-0.72 | |
| Shares (Basic) | 72,993,313 | 74,668,790 | -150,871,069 | 75,767,778 | 75,337,168 | 75,171,020 | -152,889,276 | 76,128,531 | 76,392,593 | 76,214,833 | -135,733,099 | 70,575,773 | 67,281,028 | 66,739,308 | -129,002,888 | 66,477,016 | |
| Shares (Diluted) | 72,993,313 | 74,694,762 | -152,966,654 | 75,775,214 | 77,378,449 | 75,226,387 | -152,922,738 | 76,157,101 | 76,396,217 | 76,248,158 | -135,739,304 | 70,575,773 | 67,284,511 | 66,742,030 | -128,961,927 | 66,478,157 | |
| EBITDA | $-42M | $-47M | · | $-22M | $-674.0K | $-26M | · | $-34M | $-43M | $-38M | · | $-33M | $-54M | $-27M | · | $-50M |
Balance Sheet 23
| 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 | $179M | $244M | $41M | $65M | $98M | $76M | $66M | $122M | $71M | $115M | · | $94M | $142M | $182M | · | $96M | |
| Short-term Investments | · | · | · | · | · | · | · | · | · | · | · | $201M | $198M | $159M | · | $70M | |
| Receivables | $6M | $5M | $5M | $29M | $3M | $25M | $56M | $24M | $32M | $31M | · | $67M | $49M | $67M | · | $7M | |
| Prepaid Expense | $22M | $16M | $15M | $10M | $12M | $17M | $19M | $23M | $21M | $18M | · | $12M | $31M | $19M | · | $18M | |
| Current Assets | $298M | $386M | $249M | $292M | $296M | $306M | $300M | $344M | $383M | $394M | · | $375M | $420M | $426M | · | $191M | |
| PP&E (Net) | $14M | $15M | $16M | $16M | $16M | $17M | $18M | $18M | $18M | $19M | · | $21M | $22M | $24M | · | $26M | |
| PP&E (Gross) | · | · | $36M | · | · | · | $35M | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $21M | · | · | · | $18M | · | · | · | · | · | · | · | · | · | |
| Goodwill | $12M | $12M | $12M | $12M | $12M | $12M | $12M | $12M | $12M | $12M | · | $12M | $12M | $12M | · | $12M | |
| Intangibles | $998.0K | $1M | $1M | $1M | $2M | $3M | $5M | $6M | $7M | $7M | · | $8M | $7M | $8M | · | $9M | |
| Total Assets | $397M | $478M | $347M | $397M | $408M | $426M | $463M | $487M | $516M | $554M | · | $556M | $602M | $601M | · | $300M | |
| Accounts Payable | $27M | $30M | $36M | $34M | $31M | $38M | $60M | $52M | $44M | $47M | · | $68M | $70M | $59M | · | $52M | |
| Current Liabilities | $47M | $36M | $42M | $42M | $39M | $65M | $88M | $84M | $55M | $57M | · | $73M | $94M | $67M | · | $58M | |
| Capital Leases | $13M | $14M | $15M | $16M | $15M | $15M | $16M | $17M | $17M | $21M | · | $22M | $23M | $24M | · | $25M | |
| Deferred Tax | $4M | $4M | $6M | $5M | $5M | $5M | $5M | $3M | $3M | $3M | · | $2M | $2M | $2M | · | $2M | |
| Other Non-current Liabilities | $278.0K | $278.0K | $278.0K | $278.0K | $828.0K | $856.0K | $923.0K | $929.0K | $1M | $2M | · | $2M | $4M | $4M | · | $3M | |
| Total Liabilities | $317M | $315M | $78M | $77M | $74M | $101M | $124M | $120M | $109M | $116M | · | $132M | $153M | $127M | · | $121M | |
| Common Stock | $1.13B | $1.13B | $1.11B | $1.09B | $1.07B | $1.02B | $1.02B | $1.01B | $1.01B | $1.00B | · | $932M | $929M | $900M | · | $885M | |
| Retained Earnings | $-1.17B | $-1.07B | $-953M | $-886M | $-851M | $-853M | $-830M | $-798M | $-747M | $-709M | · | $-663M | $-634M | $-583M | · | $-868M | |
| AOCI | $-7M | $-7M | $-6M | $-6M | $-6M | $-6M | $-7M | $-6M | $-8M | $-8M | · | $-8M | $-8M | $-6M | · | $-7M | |
| Stockholders' Equity | $80M | $164M | $269M | $320M | $335M | $325M | $339M | $367M | $406M | $438M | $465M | $424M | $449M | $474M | $493M | $180M | |
| Liabilities + Equity | $397M | $478M | $347M | $397M | $408M | $426M | $463M | $487M | $516M | $554M | · | $556M | $602M | $601M | · | $300M | |
| Shares Outstanding | 71,412,072 | 73,102,689 | 74,638,413 | 75,139,281 | 74,846,147 | 69,584,811 | 68,964,319 | 69,584,882 | 70,831,545 | 70,677,106 | · | 67,922,559 | 67,687,384 | 64,083,770 | · | 61,694,387 |
Cash Flow 12
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $11M | $7M | $9M | $7M | $6M | $6M | $5M | $5M | $5M | $4M | $3M | $2M | $367.0K | $2M | $4M | $5M | |
| Amort. of Intangibles | $176.0K | $176.0K | $185.0K | $648.0K | $2M | $2M | $2M | $980.0K | $812.0K | $702.0K | $673.0K | $672.0K | $678.0K | $679.0K | $529.0K | $166.0K | |
| Operating Cash Flow | $-32M | $-46M | $-10M | $-31M | $12M | $-3M | $-42M | $-6M | $-25M | $-38M | $14M | $-43M | $-6M | $-83M | $327M | $-73M | |
| CapEx | $0 | $216.0K | $581.0K | $410.0K | $514.0K | $16.0K | $314.0K | $899.0K | $593.0K | $185.0K | $356.0K | $930.0K | $802.0K | $386.0K | $348.0K | $981.0K | |
| Investing Cash Flow | $17M | $70M | $5M | $368.0K | $9M | $12M | $-6M | $72M | $-20M | $-7M | $-1M | $-7M | $-61M | $-138M | $-22M | $-30M | |
| Stock Issued | · | · | · | · | · | · | $0 | $0 | · | · | $0 | $0 | $26M | $0 | $0 | $0 | |
| Stock Repurchased | $52M | $76M | $25M | $16M | $0 | $0 | $9M | · | · | · | $0 | · | · | · | · | · | |
| Net Stock Activity | · | $-76M | · | · | · | · | · | · | · | · | · | · | · | $0 | · | · | |
| Financing Cash Flow | $-50M | $179M | $-19M | $-2M | $1M | $1M | $-9M | $-15M | $1M | $2M | $51M | $2M | $28M | $2M | $-377.0K | $628.0K | |
| Net Change in Cash | $-65M | $203M | $-24M | $-33M | $22M | $10M | $-56M | $51M | $-44M | $-43M | $63M | $-48M | $-39M | $-219M | $305M | $-103M | |
| Taxes Paid | $863.0K | $245.0K | $107.0K | $660.0K | $196.0K | $387.0K | $3M | $106.0K | $106.0K | $0 | · | · | · | · | · | · | |
| Free Cash Flow | · | $-46M | · | · | · | $-3M | · | · | · | $-38M | · | · | · | $-84M | · | · |
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 | -919.0% | -1956.7% | · | -80.1% | -1.4% | -94.5% | · | -213.8% | -222.9% | -376.9% | · | -201.4% | -772.8% | -76.7% | · | -1914.0% | |
| Net Margin | -980.8% | -1834.0% | · | -71.0% | 4.8% | -83.5% | · | -186.6% | -195.8% | -315.6% | · | -173.8% | -730.5% | -68.5% | · | -1818.6% | |
| Pretax Margin | -986.8% | -1925.0% | · | -66.1% | 4.4% | -81.7% | · | -185.2% | -195.5% | -314.8% | · | -167.1% | -706.9% | -64.5% | · | -1819.7% | |
| EBITDA Margin | -919.0% | -1956.7% | · | -80.1% | -1.4% | -94.5% | · | -213.8% | -222.9% | -376.9% | · | -201.4% | -772.8% | -76.7% | · | -1914.0% | |
| ROA | -11.2% | -9.8% | · | -4.4% | 0.50% | -4.6% | · | -5.7% | -6.7% | -5.5% | · | -6.7% | -17.0% | -8.1% | · | -31.9% | |
| ROE | -21.7% | -18.1% | · | -5.7% | 0.63% | -5.9% | · | -7.5% | -8.8% | -6.9% | · | -9.5% | -22.8% | -10.3% | · | -53.2% | |
| ROIC | -52.2% | -27.4% | · | -7.4% | -0.22% | -8.1% | · | -9.4% | -10.6% | -8.6% | · | -8.2% | -12.5% | -6.1% | · | -28.0% |
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 | 6.3 | 10.8 | · | 6.9 | 7.7 | 4.7 | · | 4.1 | 7.0 | 6.9 | · | 5.1 | 4.5 | 6.3 | · | 3.3 | |
| Quick Ratio | 3.9 | 7.0 | · | 2.2 | 2.6 | 1.5 | · | 1.7 | 1.9 | 2.6 | · | 5.0 | 4.2 | 6.1 | · | 3.0 |
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 | · | 0.1 | 0.1 | 0.1 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.1 | · | 0.0 | |
| Receivables Turnover | 1.1 | 0.2 | · | 1.0 | 2.8 | 1.0 | · | 0.4 | 0.5 | 0.2 | · | 0.4 | 0.3 | 1.1 | · | 0.8 |
Valuation (TTM) 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $83M | $106M | · | $119M | $111M | $72M | · | $62M | $53M | $69M | · | $62M | $51M | $46M | · | $14M | |
| Net Income TTM | $-106M | $-84M | · | $-70M | $-88M | $-122M | · | $-128M | $-149M | $-136M | · | $-152M | $-188M | $-209M | · | $-246M | |
| Market Cap | $1.87B | $1.83B | · | $1.28B | $939M | $829M | · | $873M | $603M | $744M | · | $431M | $585M | $579M | · | $379M | |
| P/E | -18.2 | -22.4 | · | -18.6 | -10.9 | -7.4 | · | -7.3 | -4.1 | -5.4 | · | -2.8 | -3.1 | -2.8 | · | -1.5 | |
| P/S | 22.4 | 17.3 | · | 10.7 | 8.5 | 11.4 | · | 14.1 | 11.4 | 10.8 | · | 7.0 | 11.5 | 12.7 | · | 26.4 | |
| P/B | 23.2 | 11.2 | · | 4.0 | 2.8 | 2.6 | · | 2.4 | 1.5 | 1.7 | · | 1.0 | 1.3 | 1.2 | · | 2.1 | |
| P / Tangible Book | 27.7 | 12.2 | · | 4.2 | 2.9 | 2.7 | · | 2.5 | 1.6 | 1.8 | · | 1.1 | 1.4 | 1.3 | · | 2.4 | |
| P / Cash Flow | · | -40.0 | · | · | · | -243.3 | · | · | · | -19.7 | · | · | · | -7.0 | · | · | |
| P / FCF | · | -39.9 | · | · | · | -242.1 | · | · | · | -19.6 | · | · | · | -6.9 | · | · | |
| Earnings Yield | -5.5% | -4.5% | · | -5.4% | -9.2% | -13.4% | · | -13.6% | -24.4% | -18.6% | · | -35.6% | -32.6% | -35.9% | · | -67.2% |
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 | $106M | $76M | $76M | $412M | $27M |
| Operating Margin % | -87.3% | -179.7% | -181.6% | — | — |
| Net Income | $-81M | $-123M | $-119M | $124M | $-212M |
| Diluted EPS | $-1.08 | $-1.62 | $-1.72 | $1.90 | $-4.61 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 5.9 | 3.4 | 7.4 | — | — |
| Quick Ratio | 1.1 | 1.4 | 7.1 | — | — |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-35M | $-112M | $-121M | — | — |
My Metrics Your personal watchlist — selected rows from Full Fundamentals
📊
Pick the metrics that matter to you — click the ➕ next to any row in Full Fundamentals above.
Your selection is saved and follows you across all tickers.
Institutional owners (13F) 218 filers · $1.5B 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 |
|---|---|---|---|---|
| 30 (-4 vs prior Q) | 29 (-2 vs prior Q) | 56 (-17 vs prior Q) | 68 (+9 vs prior Q) | +2.6M |
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 |
|---|---|---|---|---|
| EcoR1 Capital, LLC | $600,445,942 | 22,970,388 | 39.27% | Shares |
| Rubric Capital Management LP | $182,980,000 | 7,000,000 | 11.97% | Shares |
| PERCEPTIVE ADVISORS LLC | $109,342,391 | 4,182,953 | 7.15% | Shares |
| BVF INC/IL | $95,388,572 | 3,649,142 | 6.24% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $40,752,208 | 1,558,998 | 2.67% | Shares |
| Assenagon Asset Management S.A. | $32,727,986 | 1,252,027 | 2.14% | Shares |
| Nextech Invest Ltd. | $29,118,548 | 1,113,946 | 1.90% | Shares |
| STATE STREET CORP | $28,445,966 | 1,088,216 | 1.86% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $24,486,776 | 936,755 | 1.60% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $23,259,000 | 889,802 | 1.52% | Shares |
| CITADEL ADVISORS LLC | $21,330,894 | 816,025 | 1.40% | Shares |
| FMR LLC | $18,355,822 | 702,212 | 1.20% | Shares |
| Prosight Management, LP | $17,629,705 | 674,434 | 1.15% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $16,322,460 | 624,447 | 1.07% | Shares |
| Nextech Invest Ltd. | $16,308,169 | 1,113,946 | 1.07% | Shares |
| Qube Research & Technologies Ltd | $15,516,443 | 593,590 | 1.01% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $13,332,236 | 510,032 | 0.87% | Shares |
| Redmile Group, LLC | $12,851,836 | 491,654 | 0.84% | Shares |
| Capricorn Fund Managers Ltd | $12,717,868 | 486,529 | 0.83% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $10,939,512 | 418,497 | 0.72% | Shares |
| Hillsdale Investment Management Inc. | $10,009,581 | 382,922 | 0.65% | Shares |
| GOLDMAN SACHS GROUP INC | $9,345,338 | 357,511 | 0.61% | Shares |
| FIRST TRUST ADVISORS LP | $8,897,088 | 340,363 | 0.58% | Shares |
| Granahan Investment Management, LLC | $8,787,144 | 336,157 | 0.57% | Shares |
| Pictet Asset Management Holding SA | $7,446,189 | 308,187 | 0.49% | Shares |
| PICTON MAHONEY ASSET MANAGEMENT | $7,092,908 | 271,343 | 0.46% | Shares |
| SILVERCREST ASSET MANAGEMENT GROUP LLC | $5,849,243 | 223,766 | 0.38% | Shares |
| SummitTX Capital, L.P. | $5,510,364 | 210,802 | 0.36% | Shares |
| Man Group plc | $5,509,763 | 210,779 | 0.36% | Shares |
| BANK OF AMERICA CORP /DE/ | $5,182,437 | 198,257 | 0.34% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $4,066,835 | 155,579 | 0.27% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $3,984,154 | 152,416 | 0.26% | Shares |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $3,960,132 | 151,497 | 0.26% | Shares |
| KENNEDY CAPITAL MANAGEMENT LLC | $3,800,390 | 145,386 | 0.25% | Shares |
| D. E. Shaw & Co., Inc. | $3,785,255 | 144,807 | 0.25% | Shares |
| DIADEMA PARTNERS LP | $3,715,330 | 142,132 | 0.24% | Shares |
| BlackRock, Inc. | $3,614,744 | 138,284 | 0.24% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $3,408,656 | 130,400 | 0.22% | Call option |
| CITIGROUP INC | $3,364,872 | 128,725 | 0.22% | Shares |
| XTX Topco Ltd | $3,290,425 | 125,877 | 0.22% | Shares |
| PANAGORA ASSET MANAGEMENT INC | $3,100,282 | 118,603 | 0.20% | Shares |
| PLATINUM INVESTMENT MANAGEMENT LTD | $2,749,510 | 105,184 | 0.18% | Shares |
| AXA Investment Managers S.A. | $2,705,745 | 158,416 | 0.18% | Shares |
| Manatuck Hill Partners, LLC | $2,614,000 | 100,000 | 0.17% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $2,451,932 | 93,800 | 0.16% | Put option |
| KORNITZER CAPITAL MANAGEMENT INC /KS | $2,321,232 | 88,800 | 0.15% | Shares |
| MACKENZIE FINANCIAL CORP | $2,293,654 | 87,745 | 0.15% | Shares |
| VANGUARD GROUP INC | $2,251,979 | 85,529 | 0.15% | Shares |
| Y-Intercept (Hong Kong) Ltd | $2,181,514 | 83,455 | 0.14% | Shares |
| LMR Partners LLP | $2,156,550 | 82,500 | 0.14% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $2,127,587 | 81,392 | 0.14% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $2,094,337 | 80,120 | 0.14% | Shares |
| TEMA ETFS LLC | $2,000,422 | 75,975 | 0.13% | Shares |
| RHUMBLINE ADVISERS | $1,962,211 | 75,066 | 0.13% | Shares |
| Swiss National Bank | $1,939,588 | 74,200 | 0.13% | Shares |
| MARTINGALE ASSET MANAGEMENT L P | $1,915,592 | 73,282 | 0.13% | Shares |
| TWO SIGMA INVESTMENTS, LP | $1,878,786 | 71,874 | 0.12% | Shares |
| Dana Investment Advisors, Inc. | $1,873,192 | 71,660 | 0.12% | Shares |
| CREDIT AGRICOLE S A | $1,855,940 | 71,000 | 0.12% | Shares |
| Fisher Asset Management, LLC | $1,850,057 | 70,775 | 0.12% | Shares |
| SEGALL BRYANT & HAMILL, LLC | $1,747,093 | 66,836 | 0.11% | Shares |
| Verdad Advisers, LP | $1,743,224 | 66,688 | 0.11% | Shares |
| Susquehanna Portfolio Strategies, LLC | $1,705,583 | 65,248 | 0.11% | Shares |
| Campbell & CO Investment Adviser LLC | $1,591,246 | 60,874 | 0.10% | Shares |
| ALLIANCEBERNSTEIN L.P. | $1,399,636 | 55,896 | 0.09% | Shares |
| CITADEL ADVISORS LLC | $1,364,508 | 52,200 | 0.09% | Call option |
| Virtus Investment Advisers, LLC | $1,328,566 | 50,825 | 0.09% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $1,272,365 | 48,675 | 0.08% | Shares |
| Quantinno Capital Management LP | $1,245,362 | 47,642 | 0.08% | Shares |
| WELLS FARGO & COMPANY/MN | $1,122,164 | 42,929 | 0.07% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $1,111,577 | 42,524 | 0.07% | Shares |
| Bank of New York Mellon Corp | $1,076,785 | 41,193 | 0.07% | Shares |
| MARSHALL WACE, LLP | $1,070,380 | 40,948 | 0.07% | Shares |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC | $1,033,419 | 39,534 | 0.07% | Shares |
| Aquilo Capital Management, LLC | $1,006,181 | 84,482 | 0.07% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $965,141 | 36,922 | 0.06% | Shares |
| TUDOR INVESTMENT CORP ET AL | $953,352 | 36,471 | 0.06% | Shares |
| HighTower Advisors, LLC | $943,654 | 36,100 | 0.06% | Shares |
| Persistent Asset Partners Ltd | $939,341 | 35,935 | 0.06% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $936,221 | 37,389 | 0.06% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $904,653 | 34,608 | 0.06% | Shares |
| HighVista Strategies LLC | $889,100 | 34,013 | 0.06% | Shares |
| COMMONWEALTH EQUITY SERVICES, LLC | $837,838 | 32,052 | 0.05% | Shares |
| TWO SIGMA ADVISERS, LP | $827,157 | 31,415 | 0.05% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $807,360 | 30,886 | 0.05% | Shares |
| SBI Okasan Asset Management Co.Ltd. | $771,200 | 32,000 | 0.05% | Shares |
| VIRGINIA RETIREMENT SYSTEMS ET Al | $735,529 | 27,935 | 0.05% | Shares |
| MetLife Investment Management, LLC | $728,888 | 27,884 | 0.05% | Shares |
| JOURNEY STRATEGIC WEALTH LLC | $722,304 | 28,846 | 0.05% | Shares |
| STRS OHIO | $692,710 | 26,500 | 0.05% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $686,933 | 26,279 | 0.04% | Shares |
| Brevan Howard Capital Management LP | $678,490 | 25,956 | 0.04% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $657,735 | 25,162 | 0.04% | Shares |
| RITHOLTZ WEALTH MANAGEMENT | $633,712 | 24,243 | 0.04% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $607,206 | 23,229 | 0.04% | Shares |
| Duncan Williams Asset Management, LLC | $577,563 | 22,095 | 0.04% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $564,049 | 21,578 | 0.04% | Shares |
| BARCLAYS PLC | $524,577 | 20,068 | 0.03% | Shares |
| SIMPLEX TRADING, LLC | $507,926 | 19,431 | 0.03% | Shares |
| Invesco Ltd. | $491,720 | 18,811 | 0.03% | Shares |
Company insiders 28 insiders · 12 officers · 17 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Kenneth Galbraith | Chair & CEO | Jan. 12, 2026 A | 226,842 | 0 | 4 | $-3,337,929 |
| Kristin Stafford | EVP, Chief Financial Officer | April 6, 2026 A | — | 0 | 0 | $0 |
| Christopher Astle | SVP & Chief Financial Officer | Jan. 5, 2024 A | 6,503 | 0 | 0 | $0 |
| Neil A Klompas | President & COO | March 10, 2023 M | 17,032 | 0 | 0 | $0 |
| Mark Hollywood | EVP & Chief Operating Officer | July 6, 2026 A | 133,852 | 0 | 1 | $-138,740 |
| Paul R Schneider | EVP, General Counsel | May 13, 2026 A | — | 0 | 0 | $0 |
| Adam Schayowitz | EVP, Head of Research & Development | April 9, 2026 A | — | 0 | 0 | $0 |
| Scott Platshon | EVP, Chief Business Officer | April 9, 2026 A | — | 0 | 0 | $0 |
| Paul Andrew Moore | Chief Scientific Officer | Jan. 12, 2026 A | 48,497 | 0 | 3 | $-721,486 |
| Jeffrey T L Smith | EVP & Chief Medical Officer | Jan. 12, 2026 M | 26,708 | 0 | 2 | $-475,562 |
| Leone D Patterson | EVP, Chief Bus & Fin Officer | Jan. 6, 2026 A | 459 | 0 | 0 | $0 |
| Neil Josephson | Chief Medical Officer | Nov. 10, 2022 M | 14,449 | 0 | 0 | $0 |
| Gregory A. Ciongoli | Director | Jan. 12, 2026 A | 488,500 | 0 | 0 | $0 |
| Alessandra Cesano | Director | Jan. 12, 2026 A | — | 0 | 0 | $0 |
| Carlos Campoy | Director | Jan. 12, 2026 A | — | 0 | 0 | $0 |
| Robert E Landry | Director | Jan. 12, 2026 A | — | 0 | 0 | $0 |
| Kelvin Neu | Director | Jan. 12, 2026 A | — | 0 | 0 | $0 |
| Susan Mahony | Director | Jan. 12, 2026 A | — | 0 | 0 | $0 |
| Brian N Cherry | Director | Jan. 12, 2026 A | — | 0 | 0 | $0 |
| EcoR1 Capital, LLC | Director | Jan. 17, 2025 P | 15,720,161 | 0 | 0 | $0 |
| Nancy Davidson | Director | Dec. 10, 2024 A | — | 0 | 0 | $0 |
| Neil Gallagher | Director | Dec. 10, 2024 A | — | 0 | 0 | $0 |
| Derek John Michael Miller | Director | Dec. 10, 2024 A | — | 0 | 0 | $0 |
| Troy Cox | Director | Dec. 10, 2024 A | — | 0 | 0 | $0 |
| Kenneth J. Hillan | Director | Dec. 7, 2023 A | — | 0 | 0 | $0 |
| Hollings Renton | Director | Dec. 7, 2023 A | — | 0 | 0 | $0 |
| Natalie Sacks | Director | Dec. 21, 2022 A | — | 0 | 0 | $0 |
| Lota S. Zoth | Director | Dec. 21, 2022 A | — | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 2 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| EcoR1 Capital, LLC, Oleg Nodelman, EcoR1 Capital Fund Qualified, L.P. ×8 filings | Nov. 19, 2025 | 30.70% | Amendment | Board campaign | SEC |
| All Blue Falcons FZE, Daniel Edward Llewellen Cookson ×2 filings | Dec. 28, 2022 | — | 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 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 |
|---|---|---|---|---|
| CANC · Tema ETF Trust | 1.51% | 105,615 NS | May 31, 2026 | N-PORT |
| BBC · ETFis Series Trust I | 0.80% | 10,832 NS | April 30, 2026 | N-PORT |
| FYC · First Trust Exchange-Traded AlphaDE… | 0.49% | 186,247 NS | April 30, 2026 | N-PORT |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.25% | 110,902 NS | April 30, 2026 | N-PORT |
| FSCC · Federated Hermes ETF Trust | 0.15% | 16,669 NS | May 31, 2026 | N-PORT |
| SMMV · iShares Trust | 0.13% | 16,160 SH | Aug. 8, 2026 | Daily |
| IBB · iShares Trust | 0.13% | 517,328 SH | Aug. 8, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.12% | 14,789 SH | Aug. 8, 2026 | Daily |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.12% | 3,975 SH | Aug. 8, 2026 | Daily |
| VFMO · VANGUARD WELLINGTON FUND | 0.10% | 74,514 SH | Aug. 8, 2026 | Daily |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.10% | 17,393 NS | April 30, 2026 | N-PORT |
| BIB · ProShares Trust | 0.09% | 2,766 NS | May 31, 2026 | N-PORT |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.07% | 50,443 SH | Aug. 8, 2026 | Daily |
| IWO · iShares Trust | 0.07% | 423,822 SH | Aug. 8, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.06% | 67,771 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.04% | 21,639 NS | April 30, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.04% | 270,692 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.04% | 189,866 NS | April 30, 2026 | N-PORT |
| IWM · iShares Trust | 0.03% | 1,183,337 SH | Aug. 8, 2026 | Daily |
| ITWO · ProShares Trust | 0.03% | 2,345 NS | May 31, 2026 | N-PORT |
| GSSC · Goldman Sachs ETF Trust | 0.03% | 10,887 NS | May 31, 2026 | N-PORT |
| ISCV · iShares Trust | 0.02% | 5,753 SH | Aug. 8, 2026 | Daily |
| UWM · ProShares Trust | 0.02% | 1,834 NS | May 31, 2026 | N-PORT |
| FHLC · FIDELITY COVINGTON TRUST | 0.02% | 16,794 NS | April 30, 2026 | N-PORT |
| ISCB · iShares Trust | 0.02% | 1,999 SH | Aug. 8, 2026 | Daily |
| ISCG · iShares Trust | 0.01% | 5,891 SH | Aug. 8, 2026 | Daily |
| URTY · ProShares Trust | 0.01% | 1,855 NS | May 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.01% | 3,008 SH | Aug. 8, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.01% | 110,298 SH | Aug. 8, 2026 | Daily |
| TILT · FlexShares Trust | 0.01% | 5,236 NS | April 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.01% | 1,925 NS | May 31, 2026 | N-PORT |
| ONEQ · Fidelity Commonwealth Trust | 0.01% | 26,839 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.01% | 47 NS | May 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 5,213 NS | April 30, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 72,902 NS | April 30, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 12,951 NS | April 30, 2026 | N-PORT |
| IWV · iShares Trust | 0.00% | 14,256 SH | Aug. 8, 2026 | Daily |
| DFUS · Dimensional ETF Trust | 0.00% | 8,364 NS | April 30, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.00% | 130 NS | April 30, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 1,508,613 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 4,085 SH | Aug. 8, 2026 | Daily |