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Zenas BioPharma, Inc. (ZBIO)

USD27.88 -0.86 (-2.99%)
US NASDAQ Healthcare Biotechnology
Address North Building 2451
Waltham, MA, US
CEO Leon Oliver Moulder Jr.
IPO 2024-09-13
CIK 1953926 ISIN US98937L1052

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Description

Zenas BioPharma, Inc. functions as a clinical-stage biopharmaceutical firm, concentrating on the creation and market introduction of innovative, immunology-based treatments. The company's primary investigational therapy is obexelimab, a distinctive bifunctional monoclonal antibody intended to address multiple diseases such as immunoglobulin G4-related disease, multiple sclerosis, systemic lupus erythematosus, and warm autoimmune hemolytic anemia. Its developmental portfolio also features ZB002, an anti-TNFa monoclonal antibody; ZB004, a cytotoxic T-lymphocyte-associated antigen 4-immunoglobulin fusion; ZB001, an anti-insulin-like growth factor-1 receptor monoclonal antibody; and ZB005, an anti-active complement component 1s monoclonal antibody. Established in 2019, the entity was formerly recognized as Zenas BioPharma (Cayman) Limited before adopting its current name, Zenas BioPharma, Inc., in August 2023. Its headquarters are located in Waltham, Massachusetts.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
USD27.88 -0.86 (-2.99%)
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Volume Profile
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Liquidity & share structure
Average Volume
692.0K
Beta
-0.94
Float Shares
10.46M
Free Float %
23.4%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
+4.02% +3.43% -5.28% -24.51% -44.11% -45.11% +119.25% +10.91% +10.91% +10.91% +10.91%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Analyst Consensus (5 ratings, all time) Buy
Price Targets & DCF
Current price
27.88
Low 19.00 -31.9%
Consensus 33.50 +20.2%
Median 33.50 +20.2%
High 48.00 +72.2%
Ratings Trend (MoM) 88% Bullish
Rating 2026-05 Change
Strong Buy 0 0
Buy 7 0
Hold 1 0
Sell 0 0
Strong Sell 0 0
Price Target Summary
Period # Analysts Avg Target
Last Month
Last Quarter
Last Year 5
39.40
+41.3%
All Time 6
38.67
+38.7%
Quality scores
Altman Z-Score
-0.16
Distress
Piotroski F-Score
2 / 9
Weak
MOAT Score
2 / 10
No MOAT
Composite Rating
C-
Overall Score
1 / 5
Low
DCF Score
1 / 5
Low
ROE Score
1 / 5
Low
ROA Score
1 / 5
Low
D/E Score
2 / 5
Medium
P/E Score
1 / 5
Low
P/Book Score
2 / 5
Medium
Operational MOAT
✗ Below peers
  • Revenue growth Biotechnology: +1.6%
    +100.0% Q1'26: -100.0% (vs Q1'25)
  • EPS growth Biotechnology: +29.7%
    -124.5% Q1'26: -82.5% (vs Q1'25)
  • FCF margin FCF growth · Biotechnology: +16.2%
    -2,176.4%
  • EBIT margin Biotechnology: +0.0%
    -2,113.9%
  • ROIC Biotechnology: -16.1%
    Q1'26: +0.0% (vs Q1'25)
  • Share dilution Biotechnology: -3.4%
    +7.1% Q1'26: +33.1% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Biotechnology: 0.16×
    -0.38× Q1'26: -0.63× (vs Q1'25)
Valuation Multiples From To
DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (-0.58) × ERP
WACC = 92% × Ke + 8% × Kd (9.2%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Current price: 27.88
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2024
actual
Dec 2025
actual
Dec 2026
3 Rev. Ana.
3 EPS Ana.
Dec 2027
5 Rev. Ana.
3 EPS Ana.
Dec 2028
6 Rev. Ana.
6 EPS Ana.
Dec 2029
5 Rev. Ana.
4 EPS Ana.
Dec 2030
3 Rev. Ana.
2 EPS Ana.
Revenue
5.00M
est: 15.00M (-66.7%)
10.00M
est: 18.00M (-44.4%)
9.38M
4.76M – 12.12M
-47.9% YoY
60.75M
21.08M – 86.83M
+547.4% YoY
142.14M
142.14M – 142.14M
+134.0% YoY
308.52M
156.47M – 398.55M
+117.1% YoY
509.91M
258.60M – 658.70M
+65.3% YoY
EBITDA
-163.75M
est: -5.78M (-2,734.3%)
-211.33M
est: -6.93M (-2,948.1%)
-3.61M
-4.67M – -1.83M
+47.9% YoY
-23.40M
-33.44M – -8.12M
-547.4% YoY
-54.75M
-54.75M – -54.75M
-134.0% YoY
-118.83M
-153.51M – -60.27M
-117.1% YoY
-196.40M
-253.71M – -99.61M
-65.3% YoY
EBIT
-163.89M
est: -5.79M (-2,732.5%)
-211.39M
est: -6.94M (-2,944.5%)
-3.62M
-4.68M – -1.84M
+47.9% YoY
-23.43M
-33.49M – -8.13M
-547.4% YoY
-54.83M
-54.83M – -54.83M
-134.0% YoY
-119.01M
-153.73M – -60.36M
-117.1% YoY
-196.69M
-254.08M – -99.75M
-65.3% YoY
Net Income
-156.99M
est: -303.09M (+48.2%)
-377.74M
est: -181.45M (-108.2%)
-226.49M
-262.31M – -190.66M
-24.8% YoY
-204.26M
-242.30M – -166.21M
+9.8% YoY
-160.16M
-226.57M – -93.75M
+21.6% YoY
-119.76M
-165.20M – -43.03M
+25.2% YoY
-41.60M
-57.38M – -14.95M
+65.3% YoY
SGA
29.75M
est: 47.34M (-37.2%)
53.32M
est: 56.81M (-6.1%)
29.61M
15.02M – 38.26M
-47.9% YoY
191.73M
66.51M – 274.04M
+547.4% YoY
448.61M
448.61M – 448.61M
+134.0% YoY
973.72M
493.83M – 1.26B
+117.1% YoY
1.61B
816.17M – 2.08B
+65.3% YoY
EPS
-3.76
est: -6.51 (+42.3%)
-8.44
est: -4.12 (-104.8%)
-4.83
-5.86 – -4.26
-17.1% YoY
-4.61
-5.42 – -3.72
+4.5% YoY
-3.87
-5.07 – -2.10
+15.9% YoY
-2.68
-3.69 – -0.96
+30.9% YoY
-0.93
-1.28 – -0.33
+65.3% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-13 C- 1/5 1/5 1/5 1/5 2/5 1/5 2/5
2026-05-12 D+ 1/5 1/5 1/5 1/5 2/5 1/5 1/5
2026-05-11 D+ 1/5 1/5 1/5 1/5 2/5 1/5 1/5
2026-05-08 D+ 1/5 1/5 1/5 1/5 2/5 1/5 1/5
2026-05-07 D+ 1/5 1/5 1/5 1/5 2/5 1/5 1/5
2026-05-06 D+ 1/5 1/5 1/5 1/5 2/5 1/5 1/5
2026-05-05 D+ 1/5 1/5 1/5 1/5 2/5 1/5 1/5
2026-05-04 D+ 1/5 1/5 1/5 1/5 2/5 1/5 1/5
2026-05-01 D+ 1/5 1/5 1/5 1/5 2/5 1/5 1/5
2026-04-30 D+ 1/5 1/5 1/5 1/5 2/5 1/5 1/5
2026-04-29 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-28 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-27 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-24 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-23 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-22 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-21 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-20 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-17 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-16 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-15 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
-211.72M
OE per share TTM
-4.49
Owner's Yield
-19.10%
Maintenance CapEx ratio
Maint CapEx / Avg PPE
8.3%

Ownership Overview

Ownership breakdown
At a glance
Institutional holders
41
Total invested
65.14M
Insider transactions (90d)
2
Beneficial owners (>5%)
30
Beneficial owners (>5%)
# Reporting person Amount owned % of class Sole voting Shared voting Sole dispositive Shared dispositive Type Citizenship Filing date SEC filing
1 SR One Capital Management, LLC 4.91M 12.30% 4.91M 4.91M OO 2024-09-23
2 Simeon George 4.91M 12.30% 4.91M 4.91M IN 2024-09-23
3 Enavate Sciences GP, LLC 3.76M 9.00% 3.76M 11.00 OO 2024-09-23
4 Zebra Aggregator, LP 3.76M 9.00% 3.76M 10.00 PN Delaware 2024-09-23
5 Xencor, Inc. 3.10M 7.40% 3.10M 3.10M CO Delaware 2024-10-21
6 Ali Behbahani 2.61M 6.60% 2.61M 2.61M IN Delaware 2024-09-25
7 Anthony A. Florence, Jr. 2.61M 6.60% 2.61M 2.61M IN Delaware 2024-09-25
8 Carmen Chang 2.61M 6.60% 2.61M 2.61M IN Delaware 2024-09-25
9 Edward T. Mathers 2.61M 6.60% 2.61M 2.61M IN Delaware 2024-09-25
10 Mohamad Makhzoumi 2.61M 6.60% 2.61M 2.61M IN Delaware 2024-09-25
11 NEA 18 GP VGE, LLC 2.61M 6.60% 2.61M 2.61M OO Delaware 2024-09-25
12 NEA 18 Venture Growth Equity, L.P. 2.61M 6.60% 2.61M 2.61M PN Delaware 2024-09-25
13 NEA Partners 18 VGE, L.P. 2.61M 6.60% 2.61M 2.61M PN Delaware 2024-09-25
14 Paul E. Walker 2.61M 6.60% 2.61M 2.61M IN Delaware 2024-09-25
15 Rick Yang 2.61M 6.60% 2.61M 2.61M IN Delaware 2024-09-25
16 Scott D. Sandell 2.61M 6.60% 2.61M 2.61M IN Delaware 2024-09-25
17 Juliet Tammenoms Bakker 2.50M 6.00% 2.50M 2.50M IN 2024-09-23
18 Patrick G. Enright 2.50M 6.00% 2.50M 2.50M IN 2024-09-23
19 Abigail P. Johnson 2.00M 5.03% 2.00M IN Delaware 2024-11-12
20 FMR LLC 2.00M 5.03% 2.00M 2.00M HC Delaware 2024-11-12
21 SR One Capital Fund II Aggregator, LP 1.95M 4.90% 1.95M 1.95M PN 2024-09-23
22 SR One Capital Partners II, LP 1.95M 4.90% 1.95M 1.95M PN 2024-09-23
23 AMZL, LP 1.85M 4.70% 1.85M 1.85M PN 2024-09-23
24 SR One Capital SMA Partners, LP 1.85M 4.70% 1.85M 1.85M PN 2024-09-23
25 Longitude Capital Partners IV, LLC 1.73M 4.10% 1.73M 1.73M OO 2024-09-23
26 Longitude Venture Partners IV, L.P. 1.73M 4.10% 1.73M 1.73M PN 2024-09-23
27 SR One Capital Opportunities Fund I, LP 1.11M 2.80% 1.11M 1.11M PN 2024-09-23
28 SR One Capital Opportunities Partners I, LP 1.11M 2.80% 1.11M 1.11M PN 2024-09-23
29 Longitude Prime Fund, L.P. 774.5K 1.90% 774.5K 774.5K PN 2024-09-23
30 Longitude Prime Partners, LLC 774.5K 1.90% 774.5K 774.5K OO 2024-09-23

Institutional Activity (13F)

Institutional ownership trend From To
13F snapshot — 2026 Q1
Investors holding
41
-93 vs prev Q
New positions
15
Closed positions
99
Increased
29
Reduced
5
Put/Call ratio
0.00
Calls held
Puts held
Top institutional holders
# Investor Shares / Δ Mkt value / Δ Own% / Δ Weight% / Δ Avg px / Perf. Hold / Status
1 FMR LLC 7.70M +2.9M (+59.8%) 279.74M +172.7M (+161.4%) 18.27% +6.760 pp 0.01% +0.009 pp USD23.51 +54.4% 6 qtrs
2 SR ONE CAPITAL MANAGEMENT, LP 5.04M +126.3K (+2.6%) 182.92M +73.9M (+67.8%) 11.95% +0.218 pp 25.90% +10.126 pp USD17.41 +108.6% 6 qtrs
3 ENAVATE SCIENCES GP, LLC 3.92M +157.8K (+4.2%) 142.30M +58.8M (+70.4%) 9.30% +0.312 pp 28.08% +2.585 pp USD9.32 +289.6% 5 qtrs
4 NEA MANAGEMENT COMPANY, LLC 3.52M +789.5K (+28.9%) 127.93M +67.2M (+110.8%) 8.36% +1.827 pp 6.52% +3.193 pp USD21.02 +72.7% 6 qtrs
5 FEDERATED HERMES, INC. 2.72M +853.7K (+45.9%) 98.60M +57.3M (+138.6%) 6.44% +1.994 pp 0.16% +0.092 pp USD21.14 +71.8% 6 qtrs
6 FAIRMOUNT FUNDS MANAGEMENT LLC 2.21M +316.2K (+16.7%) 80.21M +38.2M (+90.9%) 5.24% +0.719 pp 6.11% +2.325 pp USD19.70 +84.3% 6 qtrs
7 NVP ASSOCIATES, LLC 1.84M +— (+0.0%) 66.76M +25.9M (+63.6%) 4.36% -0.031 pp 26.16% +1.577 pp USD16.92 +114.6% 6 qtrs
8 BLACKROCK, INC. 1.77M +538.9K (+43.9%) 64.18M +36.9M (+135.3%) 4.19% +1.258 pp 0.00% +0.001 pp USD17.89 +103.0% 5 qtrs
9 VANGUARD GROUP INC 1.45M +290.3K (+25.0%) 52.76M +26.9M (+104.4%) 3.45% +0.669 pp 0.00% +0.000 pp USD16.37 +121.8% 6 qtrs
10 NOVO HOLDINGS A/S 1.45M -550.0K (-27.5%) 52.65M +8.2M (+18.6%) 3.44% -1.338 pp 4.09% +1.227 pp USD12.60 +188.2% 6 qtrs
11 POLAR CAPITAL HOLDINGS PLC 1.06M +1.1M (+100.0%) 38.40M +38.4M (+100.0%) 2.51% +2.509 pp 0.15% +0.148 pp USD36.31 +0.0% 1 qtrs NEW
12 WELLINGTON MANAGEMENT GROUP LLP 855.3K -2.2K (-0.3%) 31.06M +12.0M (+63.1%) 2.03% -0.020 pp 0.01% +0.002 pp USD16.88 +115.1% 6 qtrs
13 VIVO CAPITAL, LLC 853.5K -329.8K (-27.9%) 30.99M +4.7M (+18.0%) 2.02% -0.802 pp 2.00% -0.111 pp USD16.92 +114.6% 6 qtrs
14 ECOR1 CAPITAL, LLC 789.5K +789.5K (+100.0%) 28.67M +28.7M (+100.0%) 1.87% +1.873 pp 1.30% +1.301 pp USD36.31 +0.0% 1 qtrs NEW
15 ARROWMARK COLORADO HOLDINGS LLC 751.2K -73.5K (-8.9%) 27.27M +9.0M (+49.0%) 1.78% -0.188 pp 0.60% +0.260 pp USD10.45 +247.5% 6 qtrs
16 PIVOTAL BIOVENTURE PARTNERS INVESTMENT ADVISOR LLC 592.0K -187.1K (-24.0%) 21.50M +4.2M (+24.3%) 1.40% -0.457 pp 8.31% -1.688 pp USD15.56 +133.4% 6 qtrs
17 GEODE CAPITAL MANAGEMENT, LLC 588.4K +118.4K (+25.2%) 21.37M +10.9M (+104.7%) 1.40% +0.273 pp 0.00% +0.001 pp USD16.55 +119.4% 6 qtrs
18 ROCK SPRINGS CAPITAL MANAGEMENT LP 502.1K -78.6K (-13.5%) 18.23M +5.3M (+41.4%) 1.19% -0.196 pp 0.93% +0.182 pp USD16.92 +114.6% 6 qtrs
19 STATE STREET CORP 438.3K +60.8K (+16.1%) 15.91M +7.5M (+89.9%) 1.04% +0.138 pp 0.00% +0.000 pp USD14.36 +152.9% 5 qtrs
20 PRICE T ROWE ASSOCIATES INC /MD/ 369.2K -5.1K (-1.3%) 13.41M +5.1M (+61.3%) 0.88% -0.018 pp 0.00% +0.001 pp USD16.40 +121.4% 6 qtrs
21 POINT72 ASSET MANAGEMENT, L.P. 368.4K +368.4K (+100.0%) 9.21M +9.2M (+100.0%) 0.87% +0.874 pp 0.01% +0.010 pp USD36.31 +0.0% 1 qtrs NEW
22 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 213.2K +34.8K (+19.5%) 7.74M +3.8M (+95.5%) 0.51% +0.080 pp 0.00% +0.001 pp USD16.51 +119.9% 5 qtrs
23 BALYASNY ASSET MANAGEMENT L.P. 193.2K +193.2K (+100.0%) 7.01M +7.0M (+100.0%) 0.46% +0.458 pp 0.01% +0.009 pp USD36.31 +0.0% 1 qtrs NEW
24 INVESCO LTD. 188.0K +42.2K (+28.9%) 6.83M +3.6M (+110.9%) 0.45% +0.098 pp 0.00% +0.001 pp USD25.37 +43.1% 2 qtrs
25 SKANDINAVISKA ENSKILDA BANKEN AB (PUBL) 163.9K +163.9K (+100.0%) 5.95M +5.9M (+100.0%) 0.39% +0.389 pp 0.02% +0.024 pp USD36.31 +0.0% 1 qtrs NEW
26 NORTHERN TRUST CORP 155.4K +22.1K (+16.6%) 5.64M +2.7M (+90.7%) 0.37% +0.050 pp 0.00% +0.000 pp USD13.43 +170.4% 5 qtrs
27 VOLORIDGE INVESTMENT MANAGEMENT, LLC 133.4K +133.4K (+100.0%) 4.85M +4.8M (+100.0%) 0.32% +0.317 pp 0.02% +0.017 pp USD36.31 +0.0% 1 qtrs NEW
28 GOLDMAN SACHS GROUP INC 130.7K +130.7K (+100.0%) 4.75M +4.7M (+100.0%) 0.31% +0.310 pp 0.00% +0.001 pp USD36.31 +0.0% 1 qtrs NEW
29 MORGAN STANLEY 128.3K +39.6K (+44.6%) 4.66M +2.7M (+136.6%) 0.30% +0.093 pp 0.00% +0.000 pp USD17.79 +104.1% 6 qtrs
30 EVERSEPT PARTNERS, LP 121.0K -37.7K (-23.8%) 4.39M +870.0K (+24.7%) 0.29% -0.092 pp 0.22% -0.021 pp USD11.38 +219.1% 6 qtrs
31 CAPTION MANAGEMENT, LLC 85.7K +85.7K (+100.0%) 3.11M +3.1M (+100.0%) 0.20% +0.203 pp 0.02% +0.021 pp USD36.31 +0.0% 1 qtrs NEW
32 SUPERSTRING CAPITAL MANAGEMENT LP 83.4K -13.3K (-13.8%) 3.03M +880.6K (+41.0%) 0.20% -0.033 pp 1.62% -0.494 pp USD16.92 +114.6% 6 qtrs
33 AQR CAPITAL MANAGEMENT LLC 78.2K +53.6K (+218.2%) 2.84M +2.3M (+420.4%) 0.19% +0.127 pp 0.00% +0.001 pp USD27.94 +30.0% 3 qtrs
34 UBS GROUP AG 69.5K +34.0K (+95.8%) 2.52M +1.7M (+220.3%) 0.16% +0.080 pp 0.00% +0.000 pp USD24.29 +49.5% 6 qtrs
35 BANK OF NEW YORK MELLON CORP 51.8K +10.1K (+24.3%) 1.88M +955.5K (+103.2%) 0.12% +0.023 pp 0.00% +0.000 pp USD14.65 +147.8% 5 qtrs
36 SCHRODER INVESTMENT MANAGEMENT GROUP 50.6K -62.0K (-55.0%) 1.85M -464.2K (-20.0%) 0.12% -0.149 pp 0.00% 0.000 pp USD8.19 +343.3% 5 qtrs
37 NUVEEN, LLC 50.9K +30.3K (+147.8%) 1.85M +1.4M (+305.3%) 0.12% +0.072 pp 0.00% +0.000 pp USD24.85 +46.1% 4 qtrs
38 MILLENNIUM MANAGEMENT LLC 49.2K -22.7K (-31.6%) 1.79M +189.9K (+11.9%) 0.12% -0.055 pp 0.00% +0.000 pp USD22.20 +63.6% 2 qtrs
39 BANK OF AMERICA CORP /DE/ 47.2K +32.4K (+218.5%) 1.71M +1.4M (+420.9%) 0.11% +0.077 pp 0.00% +0.000 pp USD27.83 +30.5% 5 qtrs
40 IKARIAN CAPITAL, LLC 46.8K +46.8K (+100.0%) 1.70M +1.7M (+100.0%) 0.11% +0.111 pp 0.13% +0.133 pp USD36.31 +0.0% 1 qtrs NEW
41 ALPS ADVISORS INC 44.1K +24.0K (+119.9%) 1.60M +1.2M (+259.7%) 0.10% +0.057 pp 0.01% +0.007 pp USD23.52 +54.4% 5 qtrs
42 SUSQUEHANNA INTERNATIONAL GROUP, LLP 36.8K +26.7K (+264.4%) 1.34M +1.1M (+495.9%) 0.09% +0.063 pp 0.00% +0.000 pp USD32.44 +11.9% 2 qtrs
43 36.0K +36.0K (+100.0%) 1.31M +1.3M (+100.0%) 0.09% +0.085 pp 0.55% +0.554 pp USD36.31 +0.0% 1 qtrs NEW
44 JANE STREET GROUP, LLC 35.8K +35.8K (+100.0%) 1.30M +1.3M (+100.0%) 0.08% +0.085 pp 0.00% +0.000 pp USD36.31 +0.0% 1 qtrs NEW
45 BARCLAYS PLC 34.4K +18.9K (+121.8%) 1.25M +986.0K (+376.0%) 0.08% +0.045 pp 0.00% +0.000 pp USD25.40 +43.0% 6 qtrs
46 SWISS NATIONAL BANK 31.6K +31.6K (+100.0%) 1.15M +1.1M (+100.0%) 0.08% +0.075 pp 0.00% +0.001 pp USD36.31 +0.0% 1 qtrs NEW
47 CITADEL ADVISORS LLC 24.5K +24.5K (+100.0%) 888.1K +888.1K (+100.0%) 0.06% +0.058 pp 0.00% +0.000 pp USD36.31 +0.0% 6 qtrs
48 RHUMBLINE ADVISERS 21.9K +732.0 (+3.5%) 796.9K +325.9K (+69.2%) 0.05% +0.001 pp 0.00% +0.000 pp USD10.64 +241.3% 5 qtrs
49 JPMORGAN CHASE & CO 21.7K +15.2K (+231.8%) 788.9K +643.5K (+442.7%) 0.05% +0.036 pp 0.00% +0.000 pp USD27.86 +30.3% 5 qtrs
50 WELLS FARGO & COMPANY/MN 21.2K +8.7K (+69.8%) 768.0K +491.5K (+177.8%) 0.05% +0.020 pp 0.00% +0.000 pp USD21.25 +70.9% 5 qtrs
51 ALLIANCEBERNSTEIN L.P. 18.4K +— (+0.0%) 666.3K +258.9K (+63.6%) 0.04% 0.000 pp 0.00% +0.000 pp USD11.05 +228.6% 3 qtrs
52 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 15.7K +14.6K (+1,271.3%) 570.1K +544.7K (+2,142.8%) 0.04% +0.035 pp 0.00% +0.001 pp USD34.26 +6.0% 5 qtrs
53 SQUAREPOINT OPS LLC 15.5K +15.5K (+100.0%) 564.3K +564.3K (+100.0%) 0.04% +0.037 pp 0.00% +0.001 pp USD36.31 +0.0% 1 qtrs NEW
54 TWO SIGMA INVESTMENTS, LP 15.1K -5.3K (-25.9%) 548.3K +95.8K (+21.2%) 0.04% -0.013 pp 0.00% +0.000 pp USD10.16 +257.4% 6 qtrs
55 NOMURA HOLDINGS INC 15.0K +15.0K (+100.0%) 544.7K +544.7K (+100.0%) 0.04% +0.036 pp 0.00% +0.001 pp USD36.31 +0.0% 1 qtrs NEW
56 VOYA INVESTMENT MANAGEMENT LLC 14.7K +14.7K (+100.0%) 534.7K +534.7K (+100.0%) 0.03% +0.035 pp 0.00% +0.001 pp USD36.31 +0.0% 1 qtrs NEW
57 CHINA UNIVERSAL ASSET MANAGEMENT CO., LTD. 13.3K +13.3K (+100.0%) 483.4K +483.4K (+100.0%) 0.03% +0.032 pp 0.04% +0.037 pp USD36.31 +0.0% 1 qtrs NEW
58 LEGAL & GENERAL GROUP PLC 13.0K +11.7K (+862.1%) 473.0K +443.0K (+1,474.7%) 0.03% +0.028 pp 0.00% +0.000 pp USD33.39 +8.7% 5 qtrs
59 BOOTHBAY FUND MANAGEMENT, LLC 12.9K +12.9K (+100.0%) 468.4K +468.4K (+100.0%) 0.03% +0.031 pp 0.01% +0.007 pp USD36.31 +0.0% 1 qtrs NEW
60 DEUTSCHE BANK AG\ 12.8K +554.0 (+4.5%) 464.1K +192.6K (+71.0%) 0.03% +0.001 pp 0.00% +0.000 pp USD22.50 +61.4% 5 qtrs
61 CREATIVE PLANNING 12.3K +391.0 (+3.3%) 445.6K +181.9K (+68.9%) 0.03% +0.001 pp 0.00% +0.000 pp USD22.65 +60.3% 2 qtrs
62 XTX TOPCO LTD 12.2K +12.2K (+100.0%) 442.4K +442.4K (+100.0%) 0.03% +0.029 pp 0.01% +0.012 pp USD36.31 +0.0% 1 qtrs NEW
63 LOS ANGELES CAPITAL MANAGEMENT LLC 14.4K +14.4K (+100.0%) 431.7K +431.7K (+100.0%) 0.03% +0.034 pp 0.00% +0.002 pp USD36.31 +0.0% 1 qtrs NEW
64 STATE OF WISCONSIN INVESTMENT BOARD 10.2K +10.2K (+100.0%) 371.1K +371.1K (+100.0%) 0.02% +0.024 pp 0.00% +0.001 pp USD36.31 +0.0% 1 qtrs NEW
65 VOLEON CAPITAL MANAGEMENT LP 10.2K +10.2K (+100.0%) 369.9K +369.9K (+100.0%) 0.02% +0.024 pp 0.01% +0.008 pp USD36.31 +0.0% 1 qtrs NEW
66 METLIFE INVESTMENT MANAGEMENT, LLC 10.1K +— (+0.0%) 366.7K +142.5K (+63.6%) 0.02% 0.000 pp 0.00% +0.001 pp USD8.19 +343.3% 5 qtrs
67 TORONTO DOMINION BANK 10.0K +10.0K (+100.0%) 363.1K +363.1K (+100.0%) 0.02% +0.024 pp 0.00% +0.001 pp USD36.31 +0.0% 1 qtrs NEW
68 SCHONFELD STRATEGIC ADVISORS LLC 9.1K +9.1K (+100.0%) 331.4K +331.4K (+100.0%) 0.02% +0.022 pp 0.00% +0.002 pp USD36.31 +0.0% 1 qtrs NEW
69 GSA CAPITAL PARTNERS LLP 9.0K +9.0K (+100.0%) 325.0K +325.0K (+100.0%) 0.02% +0.021 pp 0.03% +0.028 pp USD36.31 +0.0% 1 qtrs NEW
70 INTECH INVESTMENT MANAGEMENT LLC 8.9K +8.9K (+100.0%) 321.8K +321.8K (+100.0%) 0.02% +0.021 pp 0.00% +0.003 pp USD36.31 +0.0% 4 qtrs
71 MIRAE ASSET GLOBAL ETFS HOLDINGS LTD. 8.8K +1.3K (+17.7%) 318.8K +153.2K (+92.5%) 0.02% +0.003 pp 0.00% +0.000 pp USD12.40 +192.8% 5 qtrs
72 UBS ASSET MANAGEMENT AMERICAS INC 8.4K +8.4K (+100.0%) 305.0K +305.0K (+100.0%) 0.02% +0.020 pp 0.00% +0.000 pp USD36.31 +0.0% 3 qtrs
73 JANUS HENDERSON GROUP PLC 7.9K +7.9K (+100.0%) 286.6K +286.6K (+100.0%) 0.02% +0.019 pp 0.00% +0.000 pp USD36.31 +0.0% 1 qtrs NEW
74 MARINER, LLC 7.7K +7.7K (+100.0%) 278.7K +278.7K (+100.0%) 0.02% +0.018 pp 0.00% +0.000 pp USD36.31 +0.0% 1 qtrs NEW
75 CENTIVA CAPITAL, LP 7.5K +7.5K (+100.0%) 272.3K +272.3K (+100.0%) 0.02% +0.018 pp 0.00% +0.002 pp USD36.31 +0.0% 1 qtrs NEW
76 BNP PARIBAS ARBITRAGE, SNC 7.1K +4.0K (+126.9%) 259.2K +189.3K (+271.1%) 0.02% +0.009 pp 0.00% +0.000 pp USD27.27 +33.1% 5 qtrs
77 MARSHALL WACE, LLP 7.1K +7.1K (+100.0%) 257.8K +257.8K (+100.0%) 0.02% +0.017 pp 0.00% +0.000 pp USD36.31 +0.0% 1 qtrs NEW
78 VIRTUS INVESTMENT ADVISERS, INC. 6.6K +6.6K (+100.0%) 238.0K +238.0K (+100.0%) 0.02% +0.016 pp 0.06% +0.065 pp USD36.31 +0.0% 1 qtrs NEW
79 MANUFACTURERS LIFE INSURANCE COMPANY, THE 6.3K +6.3K (+100.0%) 227.2K +227.2K (+100.0%) 0.01% +0.015 pp 0.00% +0.000 pp USD36.31 +0.0% 1 qtrs NEW
80 NEW YORK STATE COMMON RETIREMENT FUND 6.2K +— (+0.0%) 225.1K +87.5K (+63.6%) 0.01% 0.000 pp 0.00% +0.000 pp USD7.90 +359.6% 4 qtrs
81 BREVAN HOWARD CAPITAL MANAGEMENT LP 6.2K +6.2K (+100.0%) 224.1K +224.1K (+100.0%) 0.01% +0.015 pp 0.00% +0.002 pp USD36.31 +0.0% 1 qtrs NEW
82 PNC FINANCIAL SERVICES GROUP, INC. 5.8K -19.0 (-0.3%) 211.5K +81.8K (+63.0%) 0.01% 0.000 pp 0.00% +0.000 pp USD12.29 +195.4% 6 qtrs
83 PROSHARE ADVISORS LLC 5.8K +5.8K (+100.0%) 211.3K +211.3K (+100.0%) 0.01% +0.014 pp 0.00% +0.000 pp USD36.31 +0.0% 1 qtrs NEW
84 POLICE & FIREMEN'S RETIREMENT SYSTEM OF NEW JERSEY 4.5K +— (+0.0%) 163.4K +63.5K (+63.6%) 0.01% 0.000 pp 0.00% +0.001 pp USD8.19 +343.3% 5 qtrs
85 KLP KAPITALFORVALTNING AS 3.4K +3.4K (+100.0%) 123.5K +123.5K (+100.0%) 0.01% +0.008 pp 0.00% +0.001 pp USD36.31 +0.0% 1 qtrs NEW
86 STRS OHIO 2.8K +— (+0.0%) 101.7K +39.5K (+63.6%) 0.01% +0.000 pp 0.00% +0.000 pp USD8.19 +343.3% 5 qtrs
87 MIRAE ASSET GLOBAL INVESTMENTS CO., LTD. 2.6K +2.6K (+100.0%) 94.7K +94.7K (+100.0%) 0.01% +0.006 pp 0.00% +0.000 pp USD36.31 +0.0% 1 qtrs NEW
88 CITIGROUP INC 2.4K +2.2K (+1,150.5%) 85.4K +81.2K (+1,945.6%) 0.01% +0.005 pp 0.00% +0.000 pp USD34.06 +6.6% 5 qtrs
89 CWM, LLC 2.2K +709.0 (+48.3%) 79.0K +46.0K (+139.4%) 0.01% +0.002 pp 0.00% +0.000 pp USD17.99 +101.8% 4 qtrs
90 SIMPLEX TRADING, LLC 2.0K +2.0K (+100.0%) 71.7K +71.7K (+100.0%) 0.00% +0.005 pp 0.00% +0.000 pp USD36.31 +0.0% 1 qtrs NEW
91 AMERITAS INVESTMENT PARTNERS, INC. 1.4K -240.0 (-14.9%) 49.7K +14.0K (+39.1%) 0.00% -0.001 pp 0.00% +0.000 pp USD8.19 +343.3% 5 qtrs
92 RUSSELL INVESTMENTS GROUP, LTD. 1.3K +— (+0.0%) 48.8K +19.0K (+63.6%) 0.00% +0.000 pp 0.00% +0.000 pp USD22.20 +63.6% 2 qtrs
Ownership breakdown by holder

Insider Activity

Insider Activity — Latest Quarter
Ratio by transactions
0.00
Bearish
Buys
2
Sells
0
Shares acquired
60.0K
Shares disposed
Cash buys
2.00
Cash sales
Net activity
+60,000
Insider buys vs sells (history) From To
Recent insider transactions From To
Date Person Role Transaction A/D Security Shares Price Value Owned after D/I Filing
2026-04-29 MOULDER LEON O JR Director / Officer P-Purchase A Common Stock 35,000 17.62 616.7K 1,786,039 I
2026-04-28 MOULDER LEON O JR Director / Officer P-Purchase A Common Stock 25,000 18.02 450.5K 1,751,039 I
2026-03-31 MOULDER LEON O JR Director / Officer P-Purchase A Common Stock 34,000 19.31 656.5K 1,726,039 I
2026-03-31 Lu Hongbo Director P-Purchase A Common Stock 3,768 18.63 70.2K 426,736 I
2026-03-31 Fairmount Funds Management LLC Director P-Purchase A Common Stock 150,000 20.00 3.00M 2,359,025 I
2026-03-30 MOULDER LEON O JR Director / Officer P-Purchase A Common Stock 20,000 18.23 364.6K 1,692,039 I
2026-02-13 Allen Patricia L Director P-Purchase A Common Stock 4,160 26.36 109.7K 19,860 D
2026-02-12 Allen Patricia L Director P-Purchase A Common Stock 5,000 26.50 132.5K 15,700 D
2026-02-11 Lu Hongbo Director P-Purchase A Common Stock 25,985 22.50 584.7K 347,968 I
2026-02-02 MOULDER LEON O JR Director / Officer P-Purchase A Common Stock 57,000 17.96 1.02M 423,155 D
2026-01-09 MOULDER LEON O JR Director / Officer P-Purchase A Common Stock 20,000 16.55 331.0K 366,155 D
2026-01-08 MOULDER LEON O JR Director / Officer P-Purchase A Common Stock 30,000 16.30 489.0K 346,155 D
2026-01-07 MOULDER LEON O JR Director / Officer P-Purchase A Common Stock 50,000 16.38 819.0K 316,155 D
2025-10-09 SR ONE CAPITAL MANAGEMENT, LLC 10% Owner P-Purchase A Common Stock 63,157 19.00 1.20M 1,917,895 I
2025-10-09 Nunn Jason Raleigh Director P-Purchase A Common Stock 63,158 19.00 1.20M 1,173,395 I
2025-10-09 ENRIGHT PATRICK G Director P-Purchase A Common Stock 105,265 19.00 2.00M 1,832,669 I
2025-10-07 MOULDER LEON O JR Director / Officer P-Purchase A Common Stock 36,928 20.85 769.9K 36,928 I
2025-10-07 Lu Hongbo Director P-Purchase A Common Stock 263,160 19.00 5.00M 321,983 I
2025-10-07 InnoCare Pharma Inc. 10% Owner Common Stock 0 0.00 5,000,000 D
2025-10-07 Fairmount Funds Management LLC Director P-Purchase A Common Stock 316,219 19.00 6.01M 2,209,025 I
2025-06-10 Oliveira Orlando Officer A-Award A Stock Option (Right to Buy) 100,000 11.94 1.19M 100,000 D
2025-06-10 ORLOFF JOHN J Director A-Award A Stock Option (Right to Buy) 18,500 11.94 220.9K 18,500 D
2025-06-10 Nunn Jason Raleigh Director A-Award A Stock Option (Right to Buy) 18,500 11.94 220.9K 18,500 D
2025-06-10 MOULDER LEON O JR Director / Officer A-Award A Stock Option (Right to Buy) 400,000 11.94 4.78M 400,000 D
2025-06-10 Lu Hongbo Director A-Award A Stock Option (Right to Buy) 18,500 11.94 220.9K 18,500 D
2025-06-10 Fox Jennifer A. Officer A-Award A Stock Option (Right to Buy) 150,000 11.94 1.79M 150,000 D
2025-06-10 Farmer Joseph L Officer A-Award A Stock Option (Right to Buy) 175,000 11.94 2.09M 175,000 D
2025-06-10 Fairmount Funds Management LLC Director A-Award A Stock Option (Right to Buy) 18,500 11.94 220.9K 18,500 I
2025-06-10 ENRIGHT PATRICK G Director A-Award A Stock Option (Right to Buy) 18,500 11.94 220.9K 18,500 D
2025-06-10 Boylan James P Director A-Award A Stock Option (Right to Buy) 18,500 11.94 220.9K 18,500 D
2025-06-10 Allen Patricia L Director A-Award A Stock Option (Right to Buy) 18,500 11.94 220.9K 18,500 D
2025-04-15 von Moltke Lisa Officer A-Award A Stock Option (Right to Buy) 400,000 8.72 3.49M 400,000 D
2025-03-17 von Moltke Lisa Officer 0 0.00 0
2025-02-18 MOULDER LEON O JR Director / Officer P-Purchase A Common Stock 25,000 6.67 166.8K 266,155 D
2025-02-07 Xiao Ting Director P-Purchase A Common Stock 10,000 7.76 77.6K 10,000 D
2024-12-16 Oliveira Orlando Officer A-Award A Stock Option (Right to Buy) 7,775 8.77 68.2K 7,775 D
2024-12-16 Fox Jennifer A. Officer A-Award A Stock Option (Right to Buy) 8,125 8.77 71.3K 8,125 D
2024-12-04 MOULDER LEON O JR Director / Officer P-Purchase A Common Stock 45,000 9.98 449.1K 241,155 D
2024-12-03 MOULDER LEON O JR Director / Officer P-Purchase A Common Stock 25,000 10.76 269.0K 196,155 D
2024-11-19 MOULDER LEON O JR Director / Officer P-Purchase A Common Stock 2,500 14.57 36.4K 171,155 D
2024-11-18 MOULDER LEON O JR Director / Officer P-Purchase A Common Stock 7,500 15.00 112.5K 168,655 D
2024-09-13 Lu Hongbo Director P-Purchase A Common Stock 58,823 17.00 1,000.0K 58,823 I

Executive team

Top executives
EBIT / Employee
-16.3K
Shares Outstanding
44.64M

Executive compensation

Executive compensation (annual)
# Year Executive Salary Bonus Stock award Option award Incentive Other Total % Stock-
based
Filing
1 2025 Leon O. Moulder, Jr. Founder, Chief Executive Officer and Chairman 520.0K 3.77M 371.8K 4.66M 80.87%
2 2025 Lisa von Moltke, M.D Head of Research and Development and Chief Medical Officer 411.7K 5.00 2.74M 3.50M 78.29%
3 2025 Joseph L. Farmer President and Chief Operating Officer 520.0K 1.65M 336.7K 20.8K 2.53M 65.27%
4 2024 Leon O. Moulder, Jr. Founder, Chief Executive Officer and Chairman 429.9K 19.31M 256.3K 330.00 20.00M 96.57%
5 2024 Joseph L. Farmer President and Chief Operating Officer 500.0K 5.25M 255.6K 1.9K 6.00M 87.39%
6 2024 Orlando Oliveira Chief Commercial Officer 199.6K 293.8K 5.38M 16.5K 5.89M 91.34%
7 2024 Jennifer Fox Chief Business Officer and Chief Financial Officer 500.0K 100.0K 3.98M 255.6K 421.00 4.84M 82.30%
8 2023 Leon O. Moulder, Jr. Founder, Chief Executive Officer and Chairman 126.9K 2.47M 2.60M 95.12%
9 2023 Jennifer Fox Chief Business Officer and Chief Financial Officer 40.1K 450.0K 2.08M 2.57M 80.91%
10 2023 Joseph L. Farmer President and Chief Operating Officer 471.5K 625.0K 197.5K 1.29M 48.30%
CEO compensation breakdown

Proxy statements

Proxy statements (DEF 14A)
Filing date Form type Filing
2026-03-16 DEFA14A
2026-03-16 DEF 14A
2025-04-28 DEFA14A
2025-04-28 DEF 14A

Recent SEC filings

Recent SEC filings
Filing date Form type Filing
2026-05-13 8-K
2026-05-13 10-Q
2026-05-05 SC 13D
2026-04-29 4
2026-04-02 SC 13D/A
2026-04-02 4
2026-04-01 4
2026-03-31 8-K
2026-03-31 4
2026-03-31 4

Executive team

NameTitleCompensationGender
Leon Oliver Moulder Jr. Founder, CEO & Chairman 891.8K male
Joseph L. Farmer Chief Operating Officer & President 877.5K male
Jennifer A. Fox Chief Business Officer & Chief Financial Officer 856.0K female
Lisa von Moltke Head of Research & Development and Chief Medical Officer. 759.6K
Orlando Oliveira Chief Commercial Officer 509.9K male
Jeffrey Held Chief Legal Officer male
Heinrich Schlieker Chief Technical Officer
Haley Laken Chief Scientific Officer
Caroline Chevalier Chief Administrative Officer female
ESG Rating
B
BIOTECHNOLOGY
Rank: 202 out of 662
2026
E (Environmental)
61.6 / 56.3
Company / Sector avg.
S (Social)
76.1 / 62.4
Company / Sector avg.
G (Governance)
72.3 / 60.9
Company / Sector avg.
ESG Total
70.0 / 59.9
Company / Sector avg.
ESG Score History BIOTECHNOLOGY
Benchmark vs Sector
Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend history

Earnings history

Earnings reports

Stock splits