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Held by 214 of 5,944 reporting institutions (92th percentile) — extremely crowded.
Data as of Q1 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Solve the discounted cash flow backwards, then stress-test the assumptions.
This company doesn't have positive free cash flow, so a reverse DCF can't be run.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $16.1M 100.0% | $27.1M 100.0% | $15.8M 100.0% | $106.5M 100.0% | $524.0M 100.0% | $37.5M 100.0% | $7.3M 100.0% | $11.3M 100.0% | $13.1M 100.0% | $25.1M 100.0% |
| Cost of Revenue | $1.7M 10.5% | $1.3M 4.7% | $65K 0.4% | $1.3M 1.2% | $25.0M 4.8% | $2.9M 7.7% | $1.7M 22.7% | $1.2M 10.7% | $817K 6.2% | $1.3M 5.4% |
| Research & Development | $140.7M 873.9% | $143.8M 530.2% | $214.9M 1356.2% | $197.6M 185.6% | $143.5M 27.4% | $122.4M 326.3% | $94.7M 1301.2% | $74.8M 663.0% | $72.2M 550.6% | $72.5M 288.9% |
| Selling, General & Admin | $65.5M 406.6% | $52.7M 194.2% | $74.6M 470.8% | $55.1M 51.7% | $56.3M 10.7% | $42.6M 113.5% | $33.5M 460.7% | $25.3M 224.3% | $24.6M 188.0% | $26.0M 103.6% |
| Total Operating Expenses | $207.8M 1290.9% | $214.8M 791.9% | $303.1M 1913.0% | $256.0M 240.4% | $224.8M 42.9% | $165.0M 439.8% | $128.3M 1761.9% | $100.1M 887.2% | $96.8M 738.6% | $98.5M 392.5% |
| Operating Income | -$185.3M -1151.4% | -$184.3M -679.6% | -$282.9M -1785.5% | -$143.2M -134.4% | $310.6M 59.3% | -$125.4M -334.3% | -$121.1M -1663.8% | -$88.2M -781.9% | -$71.3M -544.3% | -$71.9M -286.7% |
| Interest Expense | $62.0M 385.1% | $63.7M 235.0% | $41.6M 262.3% | $11.7M 11.0% | $7.5M 1.4% | $3.8M 10.2% | $3.8M 52.3% | $2.2M 19.1% | $2.2M 17.0% | $2.2M 8.7% |
| Interest & Investment Income | $17.0M 105.4% | $21.4M 79.0% | $19.6M 123.5% | $609K 0.6% | $162K 0.0% | $938K 2.5% | $3.5M 48.7% | $2.7M 24.2% | $117K 0.9% | $70K 0.3% |
| Other Income (Expense), net | $10.9M 67.7% | — | — | $2.8M 2.6% | -$160K -0.0% | $483K 1.3% | -$2.5M -34.7% | $208K 1.8% | -$2.4M -18.6% | $785K 3.1% |
| Pretax Income | -$193.3M -1201.0% | -$237.1M -874.4% | -$306.6M -1935.0% | -$128.3M -120.5% | $332.8M 63.5% | -$141.4M -377.0% | -$124.2M -1705.8% | -$83.1M -736.2% | -$79.5M -606.2% | -$72.2M -287.8% |
| Income Tax Expense | $5.6M 35.0% | $2.4M 9.0% | $1.9M 12.1% | -$1.5M -1.4% | $3.2M 0.6% | -$16.4M -43.8% | — | $231K 2.0% | -$199K -1.5% | $1.1M 4.6% |
| Net Income | -$199.0M -1236.2% | -$239.6M -883.5% | -$308.5M -1947.2% | -$126.8M -119.1% | $329.6M 62.9% | -$125.0M -333.3% | -$124.2M -1705.8% | -$83.3M -738.2% | -$79.3M -604.7% | -$73.4M -292.3% |
| Per Share | ||||||||||
| EPS (Basic) | $-3.46 | $-4.92 | $-6.47 | $-2.71 | $7.17 | $-2.81 | $-3.11 | — | — | — |
| EPS (Diluted) | $-3.46 | $-4.92 | $-6.47 | $-2.71 | $7.04 | $-2.81 | $-3.11 | — | — | — |
| Weighted Avg Shares (Basic) | 57.5M | 48.6M | 47.7M | 46.7M | 46.0M | 44.5M | 40.0M | — | — | — |
| Weighted Avg Shares (Diluted) | 57.5M | 48.6M | 47.7M | 46.7M | 46.8M | 44.5M | 40.0M | — | — | — |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Needs granular two-year detail (receivables, PP&E, D&A, SG&A) — not fully reported.
Cash-conversion data unavailable. Lower/negative accruals = higher quality (Sloan).
Interest coverage is thin — monitor; leverage rising year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on -$178M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: -80%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $80M covers all $72M of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (10-K).
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~124.7% on $50M of debt.
Cash vs short-term debt unavailable.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Ranked against 1085 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BCAX | $1.24T | — | — | — | — | — | — | -34.4% | -34.4% | — | 143 |
| LLY | $1.03T | 50.2× | — | 15.9× | 44.7% | 83.0% | 31.7% | 77.8% | 29.9% | — | 4,193 |
| AKTX | $894.1B | — | — | — | — | — | — | -61.1% | -61.1% | — | 1 |
| JNJ | $650.5B | 24.5× | — | 6.9× | 6.0% | 67.9% | 28.5% | 32.9% | 20.7% | — | 4,451 |
| ABBV | $467.1B | 111.9× | 33.4× | 7.6× | 8.6% | 70.2% | 6.9% | -129% | 6.6% | 4.2× | 3,895 |
| MRK | $368.2B | 20.2× | — | 5.7× | 1.3% | 74.8% | 28.1% | 34.7% | 17.9% | — | 3,594 |
| UNH | $339.9B | 28.4× | 19.7× | 0.8× | 11.8% | 88.7% | 2.7% | 12.0% | 6.8% | 3.9× | 2,891 |
| AZN | $257.7B | — | — | — | — | — | — | — | — | — | 1,248 |
| TMO | $248.2B | 37.1× | 31.9× | 5.6× | 3.9% | — | 15.0% | 12.6% | 7.0% | 4.9× | 2,481 |
| AMGN | $204.6B | 26.7× | 17.6× | 5.6× | 10.0% | 67.2% | 21.0% | 89.1% | 12.2% | 3.8× | 3,014 |
| GILD | $187.3B | 22.3× | 20.4× | 6.4× | 2.4% | 78.8% | 28.9% | 37.5% | 17.9% | 2.4× | 2,218 |
| ABT | $178.0B | 27.5× | 19.2× | 4.0× | 5.7% | 56.4% | 14.7% | 12.5% | 10.0% | 1.4× | 2,964 |
| PFE | $157.1B | 20.3× | — | 2.5× | -1.6% | 74.3% | 12.4% | 9.0% | 5.1% | — | 2,838 |
| DHR | $150.2B | 42.1× | 31.0× | 6.1× | 2.9% | 59.1% | 14.7% | 6.9% | 5.1% | 3.4× | 2,083 |
| ISRG | $136.2B | 48.7× | 37.5× | 13.5× | 20.5% | 66.0% | 28.4% | 16.0% | 16.0% | — | 2,190 |
| VRTX | $131.1B | 33.7× | 28.8× | 10.9× | 8.9% | 86.2% | 32.9% | 21.2% | 21.2% | — | 1,609 |
| BMY | $127.8B | 18.2× | — | 2.6× | -0.2% | 71.1% | 14.6% | 38.2% | 11.1% | — | 2,431 |
| MDT | $118.8B | 24.9× | 12.6× | 3.3× | 8.4% | 65.0% | 13.2% | 9.7% | 9.4% | 0.2× | 2,114 |
| CVS | $114.7B | 64.9× | 11.5× | 0.3× | 7.8% | 45.0% | 0.4% | 2.4% | 2.4% | 0.0× | 1,795 |
| SYK | $107.1B | 33.4× | 18.4× | 4.3× | 11.2% | 64.0% | 12.9% | 14.5% | 8.5% | 2.5× | 2,196 |
| MCK | $102.5B | 22.9× | 16.2× | 0.3× | 12.4% | 3.6% | 1.2% | -219% | 109% | 1.0× | 1,946 |
| HCA | $96.4B | 15.1× | — | 1.3× | 7.1% | — | 9.0% | -113% | 16.8% | — | 1,346 |
| ELV | $91.4B | 16.4× | 15.5× | 0.5× | 12.5% | 89.4% | 2.8% | 12.9% | 7.6% | 4.2× | 1,397 |
| REGN | $82.6B | 19.0× | 19.8× | 5.8× | 1.0% | — | 31.4% | 14.4% | 13.6% | 0.5× | 1,336 |
| CI | $72.7B | 12.4× | 5.5× | 0.3× | 11.2% | 21.8% | 2.2% | 14.3% | 14.1% | 0.0× | 1,583 |
| QURE | $2.7B | — | — | 170.7× | -40.6% | 89.5% | -1236% | -100% | -80.0% | -0.3× | 214 |
Peers = companies sharing QURE's sector (Healthcare) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
EOD close · as of 2026-09-17
Where each multiple sits in its own 12-yr range · 96th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 12-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 10.7 | 22.7 | 7.7 | 4.8 | 1.2 | 0.4 | 4.7 | 10.5 |
| R&D | 663.0 | 1301.2 | 326.3 | 27.4 | 185.6 | 1356.2 | 530.2 | 873.9 |
| SG&A | 224.3 | 460.7 | 113.5 | 10.7 | 51.7 | 470.8 | 194.2 | 406.6 |
| Operating Income | -781.9 | -1663.8 | -334.3 | 59.3 | -134.4 | -1785.5 | -679.6 | -1151.4 |
| Income Tax | 2.0 | — | -43.8 | 0.6 | -1.4 | 12.1 | 9.0 | 35.0 |
| Net Income | -738.2 | -1705.8 | -333.3 | 62.9 | -119.1 | -1947.2 | -883.5 | -1236.2 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on QURE: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.