Starling Oncology (STLN)


Market Price (11/5/2026): $5.8 | Market Cap: $591.1 MilSector: Health Care | Industry: Health Care Facilities

Starling Oncology (STLN)


Market Price (11/5/2026): $5.8
Market Cap: $591.1 Mil
Sector: Health Care
Industry: Health Care Facilities

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 38%

Megatrend and thematic drivers
Megatrends include Aging Population & Chronic Disease, and Precision Medicine. Themes include Oncology Treatments, Targeted Therapies, Show more.

Trading close to highs
Dist 52W High is -1.6%, Dist 3Y High is -1.6%

Weak multi-year price returns
3Y Excs Rtn is -47%

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -26 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -4.4%

Key risks
STLN key risks include [1] a precarious financial position with less than a year of cash runway and [2] challenges scaling its value-based care model against larger competitors.

0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 38%
1 Megatrend and thematic drivers
Megatrends include Aging Population & Chronic Disease, and Precision Medicine. Themes include Oncology Treatments, Targeted Therapies, Show more.
2 Trading close to highs
Dist 52W High is -1.6%, Dist 3Y High is -1.6%
3 Weak multi-year price returns
3Y Excs Rtn is -47%
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -26 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -4.4%
5 Key risks
STLN key risks include [1] a precarious financial position with less than a year of cash runway and [2] challenges scaling its value-based care model against larger competitors.

STLN in ETFs

Weight = STLN's share of each fund

VTI0.00%
IWM0.02%
IWO0.03%
VTWO0.02%
IWN0.01%
VHT0.01%
IWV0.00%

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

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Updated on 11/4/2026

Starling Oncology (STLN) stock has gained about 35% since it went public on 8/4/2026 because of the following key factors:

1. Strong Fiscal Second Quarter 2026 Financial Performance and Upward Guidance Revision.

Starling Oncology reported robust results for fiscal Q2 2026 (ended June 30, 2026) shortly after its rebrand and trading under the STLN ticker. The company announced a 34.6% year-over-year increase in consolidated revenue, reaching $161.3 million, and a 55.2% surge in gross profit to $27.2 million. Significantly, Adjusted EBITDA turned positive at $229 thousand, compared to a $4.1 million loss in fiscal Q2 2025. Following these strong results, Starling Oncology raised its full-year 2026 guidance, projecting revenue of $650-$670 million (up from $630-$650 million) and gross profit of $105-$110 million (up from $97-$107 million). Adjusted EBITDA guidance was also increased to $2-$7 million. This positive financial news spurred a 28.46% increase in the stock price on August 6, 2026.

2. Launch of the Proprietary Starling Nexus™ Technology Platform.

On August 17, 2026, Starling Oncology introduced Starling Nexus™, a new technology platform designed to enhance oncology provider engagement and accelerate high-quality care. This proprietary system integrates clinical decision support and evidence-based treatment pathways into a streamlined oncology workflow, aiming to improve efficiency and adherence to best practices. The platform is expected to drive enhanced drug utilization efficiencies and strengthen the company's value-based care model.

Show more
Updated on 11/4/2026

Starling Oncology (STLN) stock has gained about 35% since it went public on 8/4/2026 because of the following key factors:

1. Strong Fiscal Second Quarter 2026 Financial Performance and Upward Guidance Revision.

Starling Oncology reported robust results for fiscal Q2 2026 (ended June 30, 2026) shortly after its rebrand and trading under the STLN ticker. The company announced a 34.6% year-over-year increase in consolidated revenue, reaching $161.3 million, and a 55.2% surge in gross profit to $27.2 million. Significantly, Adjusted EBITDA turned positive at $229 thousand, compared to a $4.1 million loss in fiscal Q2 2025. Following these strong results, Starling Oncology raised its full-year 2026 guidance, projecting revenue of $650-$670 million (up from $630-$650 million) and gross profit of $105-$110 million (up from $97-$107 million). Adjusted EBITDA guidance was also increased to $2-$7 million. This positive financial news spurred a 28.46% increase in the stock price on August 6, 2026.

2. Launch of the Proprietary Starling Nexus™ Technology Platform.

On August 17, 2026, Starling Oncology introduced Starling Nexus™, a new technology platform designed to enhance oncology provider engagement and accelerate high-quality care. This proprietary system integrates clinical decision support and evidence-based treatment pathways into a streamlined oncology workflow, aiming to improve efficiency and adherence to best practices. The platform is expected to drive enhanced drug utilization efficiencies and strengthen the company's value-based care model.

3. Strategic Expansion of Capitated Care Model and Exclusive Partnerships.

In fiscal Q2 2026, Starling Oncology successfully expanded its capitated care model by securing its initial delegated contracts in Nevada and Oregon, marking its first such agreements outside of Florida. Concurrently, the company established an exclusive partnership in California with a major collaborator, which is expected to add approximately 230,000 capitated lives. These strategic moves are projected to significantly boost future capitated revenue growth.

4. Favorable Analyst Ratings and Upward Revision of Price Targets.

Several financial analysts initiated or reiterated "Strong Buy" or "Buy" ratings for Starling Oncology, indicating confidence in its future performance. In the past three months, analysts have issued an average 12-month price target ranging from $9.40 to $10.00, representing a potential upside of 46.62% to 53.14% from recent closing prices. Notably, Needham raised its price target for STLN to $9 from $7 in October 2026, and B. Riley increased its target to $11 from $8, reflecting positive sentiment driven by the company's operational advancements.

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Stock Movement Drivers

Fundamental Drivers

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Market Drivers

7/31/2026 to 11/4/2026
ReturnCorrelation
STLN  
Market (SPY)2.6%30.9%
Sector (XLV)16.7%24.0%

Fundamental Drivers

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Market Drivers

4/30/2026 to 11/4/2026
ReturnCorrelation
STLN  
Market (SPY)7.0%30.9%
Sector (XLV)30.5%24.0%

Fundamental Drivers

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Market Drivers

10/31/2025 to 11/4/2026
ReturnCorrelation
STLN  
Market (SPY)13.4%30.9%
Sector (XLV)33.2%24.0%

Fundamental Drivers

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Market Drivers

10/31/2023 to 11/4/2026
ReturnCorrelation
STLN  
Market (SPY)89.7%30.9%
Sector (XLV)59.5%24.0%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
STLN Return-----34%34%
Peers Return84%-28%7%-46%-32%133%22%
S&P 500 Return27%-19%24%23%16%11%102%

Monthly Win Rates [3]
STLN Win Rate-----100% 
Peers Win Rate60%48%58%33%44%57% 
S&P 500 Win Rate75%42%67%75%67%36% 

Max Drawdowns [4]
STLN Max Drawdown------ 
Peers Max Drawdown-35%-50%-39%-60%-59%-47% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: AGL, ASTH, PRVA, EVH.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/4/2026 (YTD)

How Low Can It Go

STLN has limited trading history. Below is the Health Care sector ETF (XLV) in its place.

EventXLVS&P 500
2025 US Tariff Shock
  % Loss-11.7%-18.8%
  % Gain to Breakeven13.3%23.1%
  Time to Breakeven142 days79 days
2022 Inflation Shock & Fed Tightening
  % Loss-13.8%-24.5%
  % Gain to Breakeven15.9%32.4%
  Time to Breakeven166 days427 days
2020 COVID-19 Crash
  % Loss-27.9%-33.7%
  % Gain to Breakeven38.8%50.9%
  Time to Breakeven77 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-15.0%-19.2%
  % Gain to Breakeven17.6%23.8%
  Time to Breakeven191 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-15.9%-12.2%
  % Gain to Breakeven18.9%13.9%
  Time to Breakeven165 days62 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-15.8%-17.9%
  % Gain to Breakeven18.8%21.8%
  Time to Breakeven153 days123 days

Compare to AGL, ASTH, PRVA, EVH

In The Past

State Street Health Care Select Sector SPDR ETF's stock fell -11.7% during the 2025 US Tariff Shock. Such a loss loss requires a 13.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

STLN has limited trading history. Below is the Health Care sector ETF (XLV) in its place.

EventXLVS&P 500
2020 COVID-19 Crash
  % Loss-27.9%-33.7%
  % Gain to Breakeven38.8%50.9%
  Time to Breakeven77 days140 days
2008-2009 Global Financial Crisis
  % Loss-37.9%-53.4%
  % Gain to Breakeven61.1%114.4%
  Time to Breakeven767 days1085 days

Compare to AGL, ASTH, PRVA, EVH

In The Past

State Street Health Care Select Sector SPDR ETF's stock fell -11.7% during the 2025 US Tariff Shock. Such a loss loss requires a 13.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Starling Oncology (STLN)

Starling Oncology (STLN) is a healthcare company specializing in providing comprehensive medical oncology services across the United States. The company focuses on delivering integrated cancer care, aiming to support patients throughout their treatment journey from diagnosis through recovery.

Its core offerings include essential physician services, in-house facilities for infusions and medication dispensaries, and specialized programs for outpatient stem cell transplants and transfusions. Starling Oncology also actively manages and offers clinical trial services, providing patients access to cutting-edge treatments and contributing to oncological research.

Furthermore, the company emphasizes holistic patient support, incorporating palliative care programs to enhance the quality of life for cancer patients. By combining advanced medical treatments with compassionate care and research opportunities, Starling Oncology serves cancer patients and their families within the U.S. healthcare market.

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  • It's like DaVita, but for comprehensive cancer care, providing integrated outpatient services for oncology patients.
  • Think of it as Oak Street Health for cancer patients, offering a holistic and integrated care model specifically for oncology needs.

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  • Medical Oncology Services: Provides comprehensive medical care, diagnoses, and treatment plans for cancer patients through physician consultations.
  • In-house Infusion and Dispensary: Offers convenient on-site administration of chemotherapy and other infusible medications, and dispenses necessary oral oncology drugs.
  • Clinical Trial Services: Manages and facilitates patient participation in advanced clinical research studies for new cancer treatments.
  • Outpatient Stem Cell Transplants and Transfusions Programs: Performs specialized stem cell transplantation and blood transfusion procedures on an outpatient basis for cancer patients.
  • Palliative Care Programs: Delivers specialized medical care focused on providing relief from the symptoms and stress of a serious illness like cancer, aiming to improve quality of life.
  • Patient Support: Offers various programs and resources to support cancer patients throughout their treatment journey.

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Starling Oncology (STLN), operating as The Oncology Institute, Inc., provides medical oncology services directly to individuals. Therefore, its major customers are categories of patients rather than other companies.

The company serves the following primary categories of customers:

  1. Cancer Patients: Individuals diagnosed with various forms of cancer who require comprehensive medical oncology services, including physician consultations, infusion therapies, and ongoing treatment management.
  2. Clinical Trial Participants: Patients seeking access to innovative and experimental cancer treatments by enrolling in the company's managed clinical trials.
  3. Patients Requiring Specialized Care: Individuals in need of specific advanced oncology procedures and support programs, such as outpatient stem cell transplants, blood transfusions, and palliative care services.
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Daniel Virnich, M.D., MBA, FACHE, Chief Executive Officer

Dr. Daniel Virnich joined The Oncology Institute in 2020 and was appointed Chief Executive Officer in June 2023. Before joining The Oncology Institute, Dr. Virnich served as President of DaVita Medical Group, Florida, where he managed a full-risk medical group and an Independent Practice Association (IPA) with over 1,400 teammates and clinicians. He also held the role of Senior Vice President of Operations for Healthcare Partners in Southern California and was the Chief Medical Officer for Team Health's Acute Care services division earlier in his career.

Rob Carter, Chief Financial Officer

Rob Carter was promoted to Chief Financial Officer, effective October 14, 2024. He joined The Oncology Institute in 2021 as Vice President of Finance and was promoted to Senior Vice President in 2023, overseeing corporate finance, financial planning and analysis (FP&A), treasury, and investor relations. Mr. Carter has over ten years of finance leadership experience in the healthcare sector, including serving as Head of FP&A at Hoag Health System, and holding various financial leadership positions at Kaiser Permanente, SCAN Health Plan, and McKesson.

Jeffrey Langsam, Chief Clinical Officer

Jeffrey Langsam serves as the Chief Clinical Officer for Starling Oncology.

Jordan McInerney, Chief Development Officer

Jordan McInerney was appointed as the new Chief Development Officer.

Kristin England, Chief Administrative Officer

Kristin England was named Chief Administrative Officer, effective July 7, 2025.

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The key risks to Starling Oncology (STLN) include its precarious financial position, reliance on evolving healthcare reimbursement policies, and challenges associated with scaling its value-based care model amidst competition.

  • Financial Position and Cash Runway: Starling Oncology faces significant financial challenges, including having less than one year of cash runway based on its current free cash flow trend, which stood at -US$26 million. The company also reports negative equity of -US$16 million and is currently unprofitable, with a projected net loss of US$17 million for the next year. This situation necessitates raising additional capital or a substantial improvement in cash flow to avoid shareholder dilution or increased balance sheet risk. The company's net loss for the first quarter of 2026 was $2.5 million.
  • Dependence on Reimbursement Rates and Healthcare Policy: The company's business model relies heavily on Medicare Advantage, Medicaid, and other risk-based contracts. This exposes Starling Oncology to unpredictable changes in healthcare policy and reimbursement rates, which could directly impact future revenue and lead to earnings volatility. Such changes could significantly influence the pace of margin improvement and overall shareholder value.
  • Challenges in Scaling Value-Based Care and Competition: Starling Oncology is expanding its value-based care model, but this involves significant operational and integration risks, especially when entering new geographies and onboarding large capitated contracts. These early contracts often have lower margins and require active management, potentially delaying the realization of full revenue and net margin improvement. Additionally, the company faces considerable competition from larger healthcare systems.

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The addressable markets for Starling Oncology (NASDAQ: STLN), which provides medical oncology services, clinical trial services, and other cancer care in the United States, are substantial and projected to grow. Starling Oncology was formerly known as The Oncology Institute, Inc., and officially rebranded with the new ticker symbol STLN on August 4, 2026. The main addressable markets for Starling Oncology's services are: * **U.S. Oncology Market (Medical Oncology Services, Physician Services, In-house Infusion and Dispensary, Outpatient Stem Cell Transplants and Transfusions Programs):** The U.S. cancer treatment market was valued at approximately USD 140.75 billion in 2025 and is projected to reach about USD 368.91 billion by 2033, growing at a compound annual growth rate (CAGR) of 12.80% during this period. Other estimates indicate the U.S. oncology market size was USD 81.34 billion in 2025 and is expected to reach around USD 211.78 billion by 2034, with a CAGR of 11.75%. These figures primarily cover pharmaceuticals, diagnostics, and oncology care services such as radiation, surgical, and supportive care. * **U.S. Oncology Clinical Trials Market (Clinical Trial Services):** The U.S. oncology clinical trials market size was estimated at USD 7.919 billion in 2024 and is predicted to reach approximately USD 12.416 billion by 2034, expanding at a CAGR of 4.6% from 2024 to 2034. Another projection for the U.S. oncology clinical trials market size shows it is expected to reach nearly USD 6.84 billion by 2034, growing from USD 4.21 billion in 2025. North America, largely driven by the U.S., held a significant share of the global oncology clinical trials market, generating USD 8.06 billion in 2025.

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Starling Oncology (STLN) is anticipated to drive future revenue growth over the next 2-3 years through several key strategies:

  1. Expansion of Value-Based Care and Capitation Contracts: The company is actively expanding its value-based care model, with a focus on delegated capitation contracts. This is evidenced by contract expansion in Florida, which is expected to bring Medicare Advantage lives to 200,000 across 25 counties, effective July 1, 2026. Starling Oncology anticipates that profitability from newly onboarded delegated contracts will build progressively over 2026, with more fully realized economics in 2027. The company projects that capitation revenue could increase to approximately 30% of total revenue by 2028.
  2. Growth in the Specialty Pharmacy Segment: The Specialty Pharmacy (also referred to as Dispensary) segment is a significant driver of revenue growth. In the first quarter of 2026, the specialty pharmacy business experienced a substantial 77.6% increase in revenue. Strong volumes in this segment during the latter half of 2025 are expected to contribute to annualized revenue growth in 2026. Starling Oncology believes that Dispensary revenue could account for approximately 50% of total revenue by 2028.
  3. Organic Growth and New Contract Wins: Starling Oncology's revenue outlook for 2026 includes broader organic growth and the securing of new contracts across its platform. The company's growth strategy involves disciplined market entry and expanding local access to cancer care.
  4. Expansion of Clinic Locations and Geographic Presence: The company continues to expand its physical footprint, operating with more than 400 employed and network clinicians and over 100 clinics and network locations across five states, with plans for further growth. A significant expansion path for Starling Oncology is deepening its presence in fast-growing "Sun Belt" states, leveraging population growth and high demand for local cancer care.

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Share Issuance

  • In November 2021, The Oncology Institute, Inc. (formerly DFP) completed a business combination that included the potential issuance of up to 12,500,000 additional earnout shares.
  • As of late July/early August 2026, Starling Oncology, Inc. had approximately 99.98 million shares outstanding.

Inbound Investments

  • In July 2026, The Oncology Institute completed a strategic refinancing with OrbiMed, repaying an $86 million Deerfield convertible note, which enhanced its balance sheet and liquidity.
  • The business combination in November 2021, through which the company became publicly traded, resulted in a net increase in cash of approximately $127.4 million.

Capital Expenditures

  • Starling Oncology, Inc. reported capital expenditures of $2.8 million, $5.5 million, $4.6 million, and $3.8 million in recent years.
  • For 2026, the company expects Free Cash Flow to be between $5 million and $15 million, which accounts for capital expenditures as part of its operational cash flow.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

STLNAGLASTHPRVAEVHMedian
NameStarling.Agilon H.Astrana .Privia H.Evolent . 
Mkt Price5.90114.1738.9823.954.5423.95
Mkt Cap-1.91.93.00.51.9
Rev LTM5875,9203,8442,3582,0972,358
Op Inc LTM-26-27310045-42-26
FCF LTM-3-106941312424
FCF 3Y Avg-22-128881043737
CFO LTM0-721081315454
CFO 3Y Avg-18-901011046666

Growth & Margins

STLNAGLASTHPRVAEVHMedian
NameStarling.Agilon H.Astrana .Privia H.Evolent . 
Rev Chg LTM38.4%0.3%58.9%24.1%-4.5%24.1%
Rev Chg 3Y Avg26.4%25.9%44.5%16.2%11.0%25.9%
Rev Chg Q34.6%7.2%48.5%21.4%46.9%34.6%
QoQ Delta Rev Chg LTM7.6%1.7%9.0%5.0%11.0%7.6%
Op Inc Chg LTM44.4%27.4%43.4%128.8%-174.5%43.4%
Op Inc Chg 3Y Avg24.8%-49.1%0.6%64.8%-52.8%0.6%
Op Mgn LTM-4.4%-4.6%2.6%1.9%-2.0%-2.0%
Op Mgn 3Y Avg-11.0%-5.3%3.8%1.2%-1.1%-1.1%
QoQ Delta Op Mgn LTM1.5%2.3%0.2%0.3%-0.4%0.3%
CFO/Rev LTM0.1%-1.2%2.8%5.6%2.6%2.6%
CFO/Rev 3Y Avg-4.8%-1.6%4.1%5.2%2.9%2.9%
FCF/Rev LTM-0.6%-1.8%2.5%5.6%1.2%1.2%
FCF/Rev 3Y Avg-5.7%-2.3%3.5%5.2%1.6%1.6%

Valuation

STLNAGLASTHPRVAEVHMedian
NameStarling.Agilon H.Astrana .Privia H.Evolent . 
Mkt Cap-1.91.93.00.51.9
P/S-0.30.51.30.20.4
P/Op Inc--7.019.167.3-12.16.0
P/EBIT--7.815.067.3-1.26.9
P/E--8.247.2107.4-1.023.1
P/CFO--26.417.723.09.413.6
Total Yield--14.4%2.2%1.0%-93.5%-6.7%
Dividend Yield-0.0%0.1%0.0%0.0%0.0%
FCF Yield 3Y Avg--13.7%5.3%3.8%1.5%2.7%
D/E-0.00.50.01.90.3
Net D/E--0.10.3-0.11.70.1

Returns

STLNAGLASTHPRVAEVHMedian
NameStarling.Agilon H.Astrana .Privia H.Evolent . 
1M Rtn-6.3%35.5%5.9%17.1%25.6%17.1%
3M Rtn17.3%5.9%8.8%-0.0%47.2%8.8%
6M Rtn14.1%309.9%10.6%-0.2%18.4%14.1%
12M Rtn14.1%530.6%17.8%-3.0%-30.1%14.1%
3Y Rtn14.1%-68.8%21.9%1.8%-83.4%1.8%
1M Excs Rtn-7.6%40.7%8.5%21.5%21.1%21.1%
3M Excs Rtn19.8%33.7%16.0%10.8%28.1%19.8%
6M Excs Rtn11.8%306.7%7.9%-3.1%15.8%11.8%
12M Excs Rtn5.2%451.2%7.9%-14.5%-42.4%5.2%
3Y Excs Rtn-55.3%-171.2%-51.6%-71.4%-158.3%-71.4%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Specialty pharmacy2691801047973
Patient services229205214167124
Clinical trials & other59766
Total503393324252203


Operating Income by Segment
$ Mil20252024202320222021
Specialty pharmacy4929201410
Patient services1813112822
Clinical trials & other47665
Non-segment depreciation and amortization-1-1-1-0-0
Selling, general and administrative expense-106-108-114-120-83
Impairment charges   -10 
Total-36-60-77-82-46


Assets by Segment
$ Mil20252024202320222021
Patient services7568746544
Non-segment assets6882118178140
Specialty pharmacy1714874
Clinical trials & other5891115
Total165173209262203


Price Behavior

Price Behavior
Market Price$6.94 
First Trading Date06/04/2020 
Distance from 52W High-1.6% 
   50 Days200 Days
DMA Price$6.48 
DMA Trend  
Distance from DMA7.0% 
 3M1YR
Volatility79.3%78.4%
Downside Capture202.67 
Upside Capture389.16 
Correlation (S&P 500)25.6% 
STLN Betas & Captures as of 10/31/2026

 1M2M3M6M1Y3Y
Beta2.461.18-0.690.53-1.560.58
Up Beta-2.41-3.474.302.34-2.591.04
Down Beta1.231.800.941.68-0.160.02
Up Capture404%223%387%151%58%5%
Bmk +ve Days12182862130427
Stock +ve Days122129292929
Down Capture259%107%183%94%55%32%
Bmk -ve Days10253664121325
Stock -ve Days102233333333

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with STLN
STLN34.4%78.4%1.75-
Sector ETF (XLV)33.1%16.7%1.5324.0%
Equity (SPY)13.2%12.9%0.6830.9%
Gold (GLD)1.0%28.8%0.0323.4%
Commodities (DBC)35.9%21.2%1.34-16.8%
Real Estate (VNQ)14.3%14.1%0.7024.4%
Bitcoin (BTCUSD)-28.2%43.4%-0.659.9%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with STLN
STLN6.1%78.4%1.75-
Sector ETF (XLV)9.3%15.3%0.4024.0%
Equity (SPY)12.5%17.2%0.5530.9%
Gold (GLD)17.3%19.1%0.7323.4%
Commodities (DBC)8.0%19.6%0.29-16.8%
Real Estate (VNQ)1.8%18.9%-0.0124.4%
Bitcoin (BTCUSD)5.5%51.5%0.299.9%

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Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with STLN
STLN3.0%78.4%1.75-
Sector ETF (XLV)12.5%16.8%0.6124.0%
Equity (SPY)15.4%18.0%0.7330.9%
Gold (GLD)11.9%16.5%0.5923.4%
Commodities (DBC)7.4%18.1%0.33-16.8%
Real Estate (VNQ)5.7%20.7%0.2324.4%
Bitcoin (BTCUSD)61.0%66.2%1.019.9%

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Short Interest

Short Interest: As Of Date10152026
Short Interest: Shares Quantity6.5 Mil
Short Interest: % Change Since 9302026-3.8%
Average Daily Volume1.2 Mil
Days-to-Cover Short Interest5.6 days
Basic Shares Quantity103.0 Mil
Short % of Basic Shares6.3%

Earnings Returns History

Updated 11/5/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/6/202628.5%25.5%18.8%
SUMMARY STATS   
# Positive111
# Negative000
Median Positive28.5%25.5%18.8%
Median Negative   
Max Positive28.5%25.5%18.8%
Max Negative   
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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/6/202628.5%25.5%18.8%
SUMMARY STATS   
# Positive111
# Negative000
Median Positive28.5%25.5%18.8%
Median Negative   
Max Positive28.5%25.5%18.8%
Max Negative   

SEC Filings

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Report DateFiling DateFiling
06/30/202608/06/202610-Q
03/31/202605/07/202610-Q
12/31/202503/12/202610-K
09/30/202511/13/202510-Q
06/30/202508/13/202510-Q
03/31/202505/14/202510-Q
12/31/202403/26/202510-K
09/30/202411/13/202410-Q
06/30/202408/13/202410-Q
03/31/202405/14/202410-Q
12/31/202303/28/202410-K
09/30/202311/08/202310-Q
06/30/202308/09/202310-Q
03/31/202305/10/202310-Q
12/31/202203/16/202310-K
09/30/202211/09/202210-Q
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Report DateFiling DateFiling
06/30/202608/06/202610-Q
03/31/202605/07/202610-Q
12/31/202503/12/202610-K
09/30/202511/13/202510-Q
06/30/202508/13/202510-Q
03/31/202505/14/202510-Q
12/31/202403/26/202510-K
09/30/202411/13/202410-Q
06/30/202408/13/202410-Q
03/31/202405/14/202410-Q
12/31/202303/28/202410-K
09/30/202311/08/202310-Q
06/30/202308/09/202310-Q
03/31/202305/10/202310-Q
12/31/202203/16/202310-K
09/30/202211/09/202210-Q
06/30/202208/09/202210-Q
03/31/202205/10/202210-Q
12/31/202103/11/202210-K
09/30/202012/14/202110-Q/A

Recent Forward Guidance

Updated 11/5/2026

Latest: Q3 2026 Earnings Reported 11/5/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q4 2026 Adjusted EBITDAReported3.00 Mil4.00 Mil5.00 Mil300.0% Higher NewGuidance: 1.00 Mil for Q3 2026
2026 RevenueReported650.00 Mil655.00 Mil660.00 Mil-0.8% LoweredGuidance: 660.00 Mil for 2026
2026 Capitated RevenueReported 110.00 Mil -26.7% LoweredGuidance: 150.00 Mil for 2026
2026 Gross ProfitReported107.00 Mil108.50 Mil110.00 Mil0.9% RaisedGuidance: 107.50 Mil for 2026
2026 Adjusted EBITDAReported4.00 Mil5.00 Mil6.00 Mil11.1% RaisedGuidance: 4.50 Mil for 2026
2026 Free Cash FlowReported5.00 Mil7.50 Mil10.00 Mil-25.0% LoweredGuidance: 10.00 Mil for 2026
2027 Medical Loss RatioReported0.850.880.9 2.5%Higher NewGuidance: 0.85 for 2026


Prior: Q1 2026 Earnings Reported 5/7/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q2 2026 Adjusted EBITDAReported-1.00 Mil01.00 Mil   
2026 RevenueReported630.00 Mil640.00 Mil650.00 Mil0 AffirmedGuidance: 640.00 Mil for 2026
2026 Capitated RevenueReported 150.00 Mil    
2026 Gross ProfitReported97.00 Mil102.00 Mil107.00 Mil0 AffirmedGuidance: 102.00 Mil for 2026
2026 Adjusted EBITDAReported04.50 Mil9.00 Mil0 AffirmedGuidance: 4.50 Mil for 2026
2026 Free Cash FlowReported5.00 Mil10.00 Mil15.00 Mil  RaisedGuidance: -5.00 Mil for 2026

Q4 2025 Earnings Reported 3/12/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q1 2026 Adjusted EBITDAReported-3.00 Mil-2.00 Mil-1.00 Mil   
2026 RevenueReported630.00 Mil640.00 Mil650.00 Mil0 AffirmedGuidance: 640.00 Mil for 2026
2026 Gross ProfitReported97.00 Mil102.00 Mil107.00 Mil   
2026 Adjusted EBITDAReported04.50 Mil9.00 Mil0 AffirmedGuidance: 4.50 Mil for 2026
2026 Free Cash FlowReported-15.00 Mil-5.00 Mil5.00 Mil   

Insider Activity

Updated 8/24/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Hively, BradDirectSell82420266.51298,8531,946,3102,683,035Form
2Chernett, JoreyDirectBuy81720266.5412,00078,48069,722,011Form
3Chernett, JoreyDirectBuy72220265.2718,00094,86056,119,482Form
4Podnos, YaleChief Medical OfficerDirectSell71620266.4123,452150,3401,663,710Form
5Chernett, JoreyDirectBuy71320265.8515,00087,75062,190,519Form
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#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Hively, BradDirectSell82420266.51298,8531,946,3102,683,035Form
2Chernett, JoreyDirectBuy81720266.5412,00078,48069,722,011Form
3Chernett, JoreyDirectBuy72220265.2718,00094,86056,119,482Form
4Podnos, YaleChief Medical OfficerDirectSell71620266.4123,452150,3401,663,710Form
5Chernett, JoreyDirectBuy71320265.8515,00087,75062,190,519Form
6Chernett, JoreyDirectBuy62420265.0218,00090,36053,291,607Form
7Podnos, YaleChief Medical OfficerDirectSell60920265.3823,451126,0941,395,451Form
8Chernett, JoreyDirectBuy60520264.7512,00057,00050,254,326Form
9Chernett, JoreyDirectBuy52120264.0733,500136,34543,011,182Form
10Chernett, JoreyDirectBuy52120264.055,00020,25042,664,150Form
11Chernett, JoreyDirectBuy52020264.0930,000122,70043,065,074Form
12Kaushal, MohitDirectSell41620263.5038,433134,535604,127Form
13Kaushal, MohitDirectSell41620263.5057,286200,598738,915Form
14Chernett, JoreyDirectBuy41320263.1020,00062,00032,548,010Form
15Chernett, JoreyDirectBuy33020262.9627,42981,19031,018,900Form
16Chernett, JoreyDirectBuy32720263.1550,000157,50032,923,576Form
17Chernett, JoreyDirectBuy32520263.11125,000388,75032,349,999Form
18Chernett, JoreyDirectBuy32320263.3525,00083,75034,427,712Form
19Chernett, JoreyDirectBuy31720263.4275,000256,50035,061,597Form
20Chernett, JoreyDirectBuy31720263.2960,985200,64133,482,096Form
21Chernett, JoreyDirectBuy31720262.92263,000767,96029,538,556Form
22Carter, Robert RossChief Financial OfficerDirectSell10520263.56247879837,034Form
23Hively, BradDirectSell121620253.7713,33350,2912,578,927Form
24Pacala, Mark LDirectSell112020254.0050,000200,000699,884Form
25M33, Growth I LPDirectSell90420253.096,018,16818,596,13924,511,082Form
26M33, Growth I LPSee FootnoteSell90420253.09681,8322,106,8611,825,856Form
27Hively, BradDirectSell82120254.0620,22182,0972,529,299Form
Core Cache Last Updated: 11/4/2026