Tearsheet

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

0

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -16%

Megatrend and thematic drivers
Megatrends include Precision Medicine. Themes include Targeted Therapies, Personalized Diagnostics, and Biopharmaceutical R&D.

Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 17%

Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -71 Mil

Stock price has recently run up significantly
6M Rtn6 month market price return is 192%, 12M Rtn12 month market price return is 192%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -6.9%

High stock price volatility
Vol 12M is 104%

Key risks
MANE key risks include [1] potential clinical trial failure or regulatory disapproval for its lead drug candidate, Show more.

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -16%
1 Megatrend and thematic drivers
Megatrends include Precision Medicine. Themes include Targeted Therapies, Personalized Diagnostics, and Biopharmaceutical R&D.
2 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 17%
3 Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -71 Mil
5 Stock price has recently run up significantly
6M Rtn6 month market price return is 192%, 12M Rtn12 month market price return is 192%
6 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -6.9%
7 High stock price volatility
Vol 12M is 104%
8 Key risks
MANE key risks include [1] potential clinical trial failure or regulatory disapproval for its lead drug candidate, Show more.

MANE in ETFs

Weight = MANE's share of each fund

VTI0.00%
ITOT0.00%
IWM0.08%
IWO0.11%
IWN0.05%
SCHA0.05%
SCHB0.00%
IWV0.00%
+1 more covered ETF

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 7/13/2026

Veradermics (MANE) stock has gained about 75% since 3/31/2026 because of the following key factors:

1. Positive topline results from the Phase 2/3 '302' clinical trial for VDPHL01.

Veradermics announced on April 27, 2026, during fiscal Q2 2026, that its oral drug VDPHL01 for male pattern hair loss met all primary and key secondary endpoints in its Phase 2/3 Study '302', which led to the stock surging by 48% in a single trading session. The trial demonstrated significantly greater hair growth than placebo, with once-daily dosing showing a mean increase of 30.3 hairs/cm² at Month 6 compared to 7.3 hairs/cm² for placebo, alongside a favorable safety profile.

2. Successful capital raises significantly bolstered financial stability.

In fiscal Q2 2026, Veradermics completed an upsized public offering and a concurrent private placement, which, combined with its initial public offering in February 2026, generated approximately $766.8 million in aggregate gross proceeds. These proceeds are projected to fund the company's operations into fiscal year 2030, supporting ongoing clinical development and potential commercial launch of VDPHL01.

Show more
Updated on 7/13/2026

Veradermics (MANE) stock has gained about 75% since 3/31/2026 because of the following key factors:

1. Positive topline results from the Phase 2/3 '302' clinical trial for VDPHL01.

Veradermics announced on April 27, 2026, during fiscal Q2 2026, that its oral drug VDPHL01 for male pattern hair loss met all primary and key secondary endpoints in its Phase 2/3 Study '302', which led to the stock surging by 48% in a single trading session. The trial demonstrated significantly greater hair growth than placebo, with once-daily dosing showing a mean increase of 30.3 hairs/cm² at Month 6 compared to 7.3 hairs/cm² for placebo, alongside a favorable safety profile.

2. Successful capital raises significantly bolstered financial stability.

In fiscal Q2 2026, Veradermics completed an upsized public offering and a concurrent private placement, which, combined with its initial public offering in February 2026, generated approximately $766.8 million in aggregate gross proceeds. These proceeds are projected to fund the company's operations into fiscal year 2030, supporting ongoing clinical development and potential commercial launch of VDPHL01.

3. Advancement of the VDPHL01 clinical pipeline.

Beyond the positive Study '302' results, Veradermics completed enrollment in Study '304', a confirmatory Phase 3 trial for male pattern hair loss, in February 2026, with topline data anticipated in the second half of 2026. The company is also actively enrolling patients in Study '306', a Phase 2/3 clinical trial evaluating VDPHL01 in female pattern hair loss, which represents the first non-hormonal oral therapy studied in a registrational-directed trial specifically for women.

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Stock Movement Drivers

Fundamental Drivers

The 74.5% change in MANE stock from 3/31/2026 to 7/14/2026 was primarily driven by a 0.0% change in the company's P/E Multiple.
(LTM values as of)33120267142026Change
Stock Price ($)63.15110.1774.5%
Change Contribution By: 
Total Revenues ($ Mil)0.0%
Net Income Margin (%)0.0%
P/E Multiple0.0%
Shares Outstanding (Mil)352076.2%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 7/14/2026
ReturnCorrelation
MANE74.5% 
Market (SPY)15.6%9.6%
Sector (XLV)8.0%-0.1%

Fundamental Drivers

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Market Drivers

12/31/2025 to 7/14/2026
ReturnCorrelation
MANE  
Market (SPY)10.6%11.5%
Sector (XLV)2.7%6.2%

Fundamental Drivers

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Market Drivers

6/30/2025 to 7/14/2026
ReturnCorrelation
MANE  
Market (SPY)22.7%11.5%
Sector (XLV)19.0%6.2%

Fundamental Drivers

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Market Drivers

6/30/2023 to 7/14/2026
ReturnCorrelation
MANE  
Market (SPY)75.6%11.5%
Sector (XLV)24.9%6.2%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
MANE Return-----192%192%
Peers Return22%-27%31%53%21%-11%92%
S&P 500 Return27%-19%24%23%16%10%100%

Monthly Win Rates [3]
MANE Win Rate-----83% 
Peers Win Rate57%48%47%52%53%37% 
S&P 500 Win Rate75%42%67%75%67%57% 

Max Drawdowns [4]
MANE Max Drawdown------ 
Peers Max Drawdown-44%-58%-50%-49%-50%-37% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: VRCA, ARQT, ABBV, EOLS, BHC.
[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 7/14/2026 (YTD)

How Low Can It Go

MANE 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 VRCA, ARQT, ABBV, EOLS, BHC

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.

MANE 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 VRCA, ARQT, ABBV, EOLS, BHC

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 Veradermics (MANE)

Veradermics (MANE) is a late clinical-stage biopharmaceutical company focused on developing innovative therapeutics for pervasive aesthetic and dermatological conditions. Its primary focus is on addressing the significant unmet needs in pattern hair loss (PHL), a condition impacting an estimated 80 million men and women in the United States. The company aims to overcome the common drawbacks of existing PHL treatments, which include slow results, inconsistent efficacy, tolerability issues, inconvenient administration, and a scarcity of FDA-approved oral options, particularly for women.

The company's lead product candidate is VDPHL01, an oral, non-hormonal, extended-release (ER) formulation of minoxidil. While immediate-release oral minoxidil is used off-label for hair loss, VDPHL01 is specifically designed to maximize minoxidil's hair growth potential. Its proprietary ER profile delivers higher total plasma concentrations over a longer duration, aiming for enhanced follicular saturation and hair growth, while carefully managing peak concentrations to minimize potential cardiac side effects. This optimization seeks to provide a more effective and safer treatment experience than current options.

VDPHL01 is currently in registration-directed Phase 2/3 and Phase 3 clinical trials for both male and female PHL patients, with topline data from the first male trial expected in the first half of 2026. Preliminary data suggest VDPHL01 can drive rapid and consistent hair growth with a favorable safety profile. Veradermics targets the substantial U.S. PHL market, valued at approximately $9 billion annually, and plans a multi-channel commercialization strategy if approved. With a broad patent library protecting VDPHL01 until at least 2043, the company aims to establish its product as a transformative, first-in-class oral, non-hormonal FDA-approved therapy for hair loss.

AI Analysis | Feedback

Here are 1-2 brief analogies to describe Veradermics:

  1. Like a pharmaceutical 'Tesla' for hair loss, taking a known hair growth ingredient (minoxidil) and re-engineering it into a superior, convenient, and safer oral treatment.
  2. Imagine the 'iPhone' of hair loss treatments: Veradermics is developing a premium, convenient oral solution that aims to dramatically improve user satisfaction over current options.

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  • VDPHL01: An investigational oral, extended-release (ER) formulation of minoxidil designed as a non-hormonal treatment for pattern hair loss (PHL) in both men and women.

AI Analysis | Feedback

Veradermics (MANE) sells primarily to individuals. The company is developing VDPHL01, an oral, non-hormonal treatment for pattern hair loss (PHL), which, if approved, will be a prescribed therapy for patients. Its commercial strategy involves direct-to-consumer (DTC) advertising and physician education to reach these end-users.

The up to three categories of customers Veradermics aims to serve are:

  1. Men with Pattern Hair Loss (PHL): Specifically, men suffering from mild-to-moderate PHL, for whom VDPHL01 is designed to offer a more effective, convenient, and safe oral treatment option compared to existing therapies.
  2. Women with Pattern Hair Loss (PHL): Women affected by mild-to-moderate PHL, who currently have limited FDA-approved oral treatment options and often face tolerability issues with existing hormonal or topical treatments.
  3. Patients seeking improved treatment options for PHL: This category includes both men and women who are dissatisfied with the shortcomings of current PHL treatments (e.g., slow onset, inconsistent results, insufficient hair density, tolerability issues, inconvenience) or are currently untreated but are motivated to address their hair loss with a potentially transformative and well-tolerated oral therapy.

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Reid Waldman, MD, Chief Executive Officer and Board Member

Dr. Waldman is a co-founder of Veradermics, established in October 2019. As CEO, he has led the company through significant equity financings, including a $150 million Series C round, and advanced VDPHL01, their lead asset, into Phase 3 trials. He is a board-certified dermatologist with over a decade of clinical experience. Before founding Veradermics, Dr. Waldman was an active researcher, authoring more than 100 publications and a textbook. He has received the American Academy of Dermatology's “Excellence in Patient Care” award and was recognized in Forbes 30 under 30 list.

Dominic Carrano, CPA, Chief Financial Officer and Treasurer

Mr. Carrano brings over 15 years of experience in financial leadership, technical accounting, and strategic planning within the life sciences sector, overseeing Veradermics' financial strategy and operations. Prior to his role as CFO, he served as the Vice President of Finance at Veradermics. His previous experience includes finance leadership positions at Rallybio and Alexion, and he began his career at Deloitte.

Tim Durso, MD, Chief Technical Officer

Dr. Durso also serves as President of Veradermics, where he spearheads the company's research and development efforts. He is a board-certified dermatologist with over 10 years of clinical experience, and he played a key role in progressing VDPHL01 from its conceptual stage to clinical testing. Dr. Durso is recognized for his expertise in dermatology drug and device innovation. He previously served as the Chief of Dermatology at Malcolm Grow Medical Clinics.

Mark Neumann, Chief Commercial and Strategy Officer

Mr. Neumann possesses over three decades of leadership experience in biopharmaceutical commercialization. He previously held the position of Executive Vice President and Chief Commercial Officer at Intra-Cellular Therapies (ITCI), where he established the commercial function and successfully launched CAPLYTA®. Mr. Neumann was instrumental in ITCI's acquisition by Johnson & Johnson in 2025 for approximately $14.6 billion. His career also includes senior commercial roles at Amgen and Bristol-Myers Squibb.

Michael Greco, JD, General Counsel

Mr. Greco serves as the General Counsel for Veradermics. His background includes in-house leadership roles and practicing as a corporate and transactional attorney at Bingham McCutchen LLP and Wiggin and Dana LLP. He has also held prior senior legal positions at Rallybio, SpringWorks, and Alexion.

AI Analysis | Feedback

Clinical Trial Failure and Regulatory Approval: The most significant risk to Veradermics is the failure of its ongoing pivotal clinical trials for VDPHL01 to demonstrate efficacy and safety, or the inability to obtain regulatory approval from the U.S. Food and Drug Administration (FDA). The company's future hinges on the successful completion of its three registration-directed Phase 2/3 and Phase 3 trials and subsequent approval of VDPHL01 as an oral, non-hormonal treatment for pattern hair loss. Any setbacks, such as unexpected adverse events, failure to meet primary endpoints, or delays in trial completion, could significantly impact the company's prospects.

Market Adoption and Commercialization: Even if VDPHL01 receives FDA approval, Veradermics faces the risk that the product may not achieve significant market adoption and commercial success. Despite identifying a substantial unmet need and dissatisfaction with current treatments for pattern hair loss, the company will need to effectively compete in a market with existing treatment options, including topical minoxidil and finasteride. The success of its multi-channel commercialization plan, including physician education, direct-to-consumer advertising, and telehealth engagement, will be crucial in driving patient awareness and demand for VDPHL01.

AI Analysis | Feedback

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AI Analysis | Feedback

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The addressable market for Veradermics' main product, VDPHL01, for PHL treatments for men and women in the U.S. is approximately $9 billion annually.

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Expected Drivers of Future Revenue Growth for Veradermics (MANE)

  1. Successful FDA Approval and Commercial Launch of VDPHL01 for Male Pattern Hair Loss: Veradermics anticipates topline data from its pivotal Phase 2/3 trial in male patients in the first half of 2026 and from its confirmatory Phase 3 trial in male patients in the second half of 2026. This is expected to lead to a New Drug Application (NDA) submission and subsequent regulatory approval, making VDPHL01 available for a significant segment of the pattern hair loss market.
  2. Expansion into the Female Pattern Hair Loss Market: The company is conducting a registrational-directed Phase 2/3 trial for female patients with pattern hair loss. Securing FDA approval for this indication, potentially through a supplemental NDA or simultaneously with male patients, would significantly expand the addressable patient population and unlock a substantial portion of the estimated $9 billion annual U.S. commercial opportunity.
  3. Market Penetration through a Differentiated Product Profile: VDPHL01 is positioned as a potentially first-in-class oral, non-hormonal FDA-approved therapy for pattern hair loss, offering attributes such as speed of hair growth, consistency, intensity, and a favorable safety profile compared to existing options. This differentiated profile is expected to address high unmet needs and patient dissatisfaction, driving significant adoption in a large and motivated patient population.
  4. Execution of a Comprehensive Multi-Channel Commercialization Strategy: In anticipation of potential NDA submission, Veradermics is developing a robust commercialization plan. This strategy will integrate patient identification, physician education, direct-to-consumer (DTC) advertising, social media, and telehealth engagement. Effective execution of these commercial pillars, particularly a dermatology-focused field force and DTC advertising, is crucial to driving patient awareness, demand, and ultimately, revenue growth for VDPHL01.

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Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

MANEVRCAARQTABBVEOLSBHCMedian
NameVeraderm.Verrica .Arcutis .AbbVie Evolus Bausch H. 
Mkt Price110.175.9326.81243.056.274.7516.54
Mkt Cap2.50.13.5430.20.41.82.1
Rev LTM03741662,81930210,531359
Op Inc LTM-71-14320,844-312,443-5
FCF LTM-62-141719,980-459891
FCF 3Y Avg--41-9919,085-33997-33
CFO LTM-62-142721,224-371,4196
CFO 3Y Avg--41-9420,104-281,368-28

Growth & Margins

MANEVRCAARQTABBVEOLSBHCMedian
NameVeraderm.Verrica .Arcutis .AbbVie Evolus Bausch H. 
Rev Chg LTM-417.6%95.3%9.5%9.6%8.2%9.6%
Rev Chg 3Y Avg-133.8%580.2%3.6%25.1%8.9%25.1%
Rev Chg Q-46.1%60.1%12.4%6.7%11.7%12.4%
QoQ Delta Rev Chg LTM-4.5%10.5%2.7%1.6%2.6%2.7%
Op Inc Chg LTM-75.6%102.6%61.4%4.5%31.7%61.4%
Op Inc Chg 3Y Avg--51.6%59.5%12.1%17.0%23.6%17.0%
Op Mgn LTM--36.4%0.8%33.2%-10.4%23.2%0.8%
Op Mgn 3Y Avg--548.7%-80.3%26.9%-13.8%20.3%-13.8%
QoQ Delta Op Mgn LTM--2.8%4.0%0.3%2.2%1.6%1.6%
CFO/Rev LTM--38.0%6.5%33.8%-12.1%13.5%6.5%
CFO/Rev 3Y Avg--463.5%-77.3%34.7%-10.5%14.0%-10.5%
FCF/Rev LTM--38.0%4.1%31.8%-14.9%9.4%4.1%
FCF/Rev 3Y Avg--464.9%-79.1%33.0%-12.4%10.2%-12.4%

Valuation

MANEVRCAARQTABBVEOLSBHCMedian
NameVeraderm.Verrica .Arcutis .AbbVie Evolus Bausch H. 
Mkt Cap2.50.13.5430.20.41.82.1
P/S-3.48.36.81.40.23.4
P/Op Inc-35.3-9.31,079.520.6-13.00.7-4.3
P/EBIT-35.8-10.4287.248.4-17.52.4-4.0
P/E-37.3-7.1-1,459.7118.3-9.4-1.5-8.2
P/CFO-40.5-9.0128.520.3-11.21.2-3.9
Total Yield-2.7%-14.1%-0.1%3.6%-10.6%-68.2%-6.7%
Dividend Yield0.0%0.0%0.0%2.7%0.0%0.0%0.0%
FCF Yield 3Y Avg--496.5%-7.8%5.4%-7.9%40.0%-7.8%
D/E0.00.00.00.20.411.70.1
Net D/E-0.2-0.2-0.00.10.311.00.1

Returns

MANEVRCAARQTABBVEOLSBHCMedian
NameVeraderm.Verrica .Arcutis .AbbVie Evolus Bausch H. 
1M Rtn14.7%3.5%10.0%6.7%-6.8%-6.1%5.1%
3M Rtn46.9%3.7%6.9%16.6%41.2%-16.4%11.7%
6M Rtn191.8%-26.1%2.9%11.9%9.6%-36.7%6.3%
12M Rtn191.8%-27.2%68.6%31.0%-34.1%-25.1%3.0%
3Y Rtn191.8%-91.1%184.0%96.8%-15.3%-43.7%40.8%
1M Excs Rtn14.7%-3.6%7.0%6.1%-5.7%-10.0%1.3%
3M Excs Rtn44.8%-4.0%1.6%9.1%35.3%-26.5%5.4%
6M Excs Rtn183.6%-33.6%-13.3%4.0%2.7%-44.2%-5.3%
12M Excs Rtn171.3%-47.0%58.1%9.9%-54.4%-46.5%-18.3%
3Y Excs Rtn120.4%-161.9%118.4%28.3%-83.8%-114.5%-27.8%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20242023
Single Segment00
Total00


Net Income by Segment
$ Mil202520242023
Single Segment-70-26-16
Total-70-26-16


Price Behavior

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MANE Betas & Captures as of 6/30/2026

 1M2M3M6M1Y3Y
Beta0.991.070.76-0.92-0.83-1.25
Up Beta-0.32-0.33-0.79-1.61-1.87-0.36
Down Beta7.154.474.82-0.77-0.19-0.62
Up Capture53%100%181%215%95%9%
Bmk +ve Days11244067140429
Stock +ve Days132234575757
Down Capture-180%-48%-167%-137%-91%-49%
Bmk -ve Days10172358112321
Stock -ve Days81929434343

[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 MANE
MANE193.1%104.3%2.80-
Sector ETF (XLV)18.7%15.8%0.896.2%
Equity (SPY)21.7%12.6%1.2811.5%
Gold (GLD)20.5%27.9%0.65-1.6%
Commodities (DBC)27.3%18.9%1.14-7.2%
Real Estate (VNQ)13.0%13.9%0.646.2%
Bitcoin (BTCUSD)-47.0%42.7%-1.375.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with MANE
MANE23.9%104.3%2.80-
Sector ETF (XLV)5.9%14.9%0.226.2%
Equity (SPY)13.1%17.1%0.5911.5%
Gold (GLD)17.2%18.4%0.76-1.6%
Commodities (DBC)8.6%19.5%0.33-7.2%
Real Estate (VNQ)2.7%18.9%0.046.2%
Bitcoin (BTCUSD)12.8%53.4%0.425.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with MANE
MANE11.3%104.3%2.80-
Sector ETF (XLV)10.0%16.6%0.496.2%
Equity (SPY)15.4%17.9%0.7311.5%
Gold (GLD)11.2%16.1%0.57-1.6%
Commodities (DBC)6.3%18.0%0.27-7.2%
Real Estate (VNQ)5.0%20.7%0.216.2%
Bitcoin (BTCUSD)57.3%66.2%0.975.2%

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Short Interest

Short Interest: As Of Date6302026
Short Interest: Shares Quantity3.8 Mil
Short Interest: % Change Since 615202652.9%
Average Daily Volume1.1 Mil
Days-to-Cover Short Interest3.6 days
Basic Shares Quantity22.7 Mil
Short % of Basic Shares16.8%

Earnings Returns History

Updated 6/15/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/12/2026-3.9%-7.2%-14.0%
SUMMARY STATS   
# Positive000
# Negative111
Median Positive   
Median Negative-3.9%-7.2%-14.0%
Max Positive   
Max Negative-3.9%-7.2%-14.0%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/12/2026-3.9%-7.2%-14.0%
SUMMARY STATS   
# Positive000
# Negative111
Median Positive   
Median Negative-3.9%-7.2%-14.0%
Max Positive   
Max Negative-3.9%-7.2%-14.0%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/12/202610-Q
12/31/202503/30/202610-K
09/30/202502/04/2026424B4
Collapse to Preview
Report DateFiling DateFiling
03/31/202605/12/202610-Q
12/31/202503/30/202610-K
09/30/202502/04/2026424B4

Insider Activity

Updated 5/5/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Suvretta, Capital Management, Llc See footnotesBuy209202636.3430,5211,109,05618,911,954Form
2Suvretta, Capital Management, Llc See footnotesBuy209202637.9996,2003,655,07918,614,762Form
3Suvretta, Capital Management, Llc See footnotesBuy209202637.05155,9535,778,342135,184,969Form
4Coric, Vlad See FootnoteBuy205202617.00117,6461,999,9825,429,766Form
5Childs, John W See FootnoteBuy205202617.00294,1174,999,98937,434,102Form
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#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Suvretta, Capital Management, Llc See footnotesBuy209202636.3430,5211,109,05618,911,954Form
2Suvretta, Capital Management, Llc See footnotesBuy209202637.9996,2003,655,07918,614,762Form
3Suvretta, Capital Management, Llc See footnotesBuy209202637.05155,9535,778,342135,184,969Form
4Coric, Vlad See FootnoteBuy205202617.00117,6461,999,9825,429,766Form
5Childs, John W See FootnoteBuy205202617.00294,1174,999,98937,434,102Form
6Longitude, Capital Partners V, Llc See FootnoteBuy205202617.001,075,00018,275,00044,206,783Form
7Enright, Patrick G See FootnoteBuy205202617.001,075,00018,275,00044,206,783Form

Investor Activity (13F)

Updated Jul 15, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank and community-bank filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
SR One Capital Management, LP$151.7 Mil16.6%14New13F
Infinitum Asset Management, LLC$46.2 Mil5.8%21New13F
Catalio Capital Management, LP$11.0 Mil2.3%41New13F
Vivo Capital, LLC$18.9 Mil1.6%46New13F
Jones Hill Capital LP$6.4 Mil1.4%26New13F
Masters Capital Management LLC$6.3 Mil0.9%44New13F
Paradigm Biocapital Advisors LP$33.2 Mil0.7%35New13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
SR One Capital Management, LP$151.7 Mil16.6%14New13F
Infinitum Asset Management, LLC$46.2 Mil5.8%21New13F
Paradigm Biocapital Advisors LP$33.2 Mil0.7%35New13F
Vivo Capital, LLC$18.9 Mil1.6%46New13F
Catalio Capital Management, LP$11.0 Mil2.3%41New13F
Jones Hill Capital LP$6.4 Mil1.4%26New13F
Masters Capital Management LLC$6.3 Mil0.9%44New13F
Active Manager
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
SR One Capital Management, LP$151.7 Mil16.6%14New13F
Infinitum Asset Management, LLC$46.2 Mil5.8%21New13F
Paradigm Biocapital Advisors LP$33.2 Mil0.7%35New13F
Vivo Capital, LLC$18.9 Mil1.6%46New13F
Catalio Capital Management, LP$11.0 Mil2.3%41New13F
Jones Hill Capital LP$6.4 Mil1.4%26New13F
Masters Capital Management LLC$6.3 Mil0.9%44New13F
Core Cache Last Updated: 7/14/2026