ARWR Arrowhead Research Corporation

XNAS 57.57 Delayed
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Stock quote, options chain, IV rank, technicals, AI analysis, and institutional ownership. Iron condor setups Expected move IV rank history Fibonacci levels Insider trading

Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.

ARWR $57.57 —
Key stats
$57.57
52-Week Range
$37.06 – $95.49
YTD
-15.08%
IV Rank (30D)
47.21
Straddle Price
$9.40
P/C Vol Ratio (Dec 18 expiry)
0.33
Market Cap
$8.1B
Open
$58.21
Day Range
$57.00 – $58.71
Volume
923,012
Prev Close
$57.46
Fair Value
MODEL: LONG

A blended fair-value estimate combining up to six valuation methods. Each method is weighted by how well it fits the company — DCF down-weights for unprofitable names; DDM only fires for steady dividend payers; comparables down-weight when peer multiples disagree.

  • DCF (quality-aware) — projects free cash flow with a horizon that scales to business quality. True compounders (quality 6/6) get 10 years explicit + 10 years fade before terminal; cyclical/struggling names (quality 0-1) get a 5-year terminal cliff. Quality is scored from ROE, gross margin, growth, FCF margin, debt load, and FCF consistency — the same factors that drive market premium for compounders.
  • Market-Implied Growth (in Model Inputs) — reverse-DCF that answers "what growth rate is the market pricing in?". Lets you sanity-check the deviation: if implied growth is plausible for the business, the model's bearish flag may be wrong; if implausible, the market may be over-extrapolating.
  • DDM (Gordon Growth Dividend Model) — values the stream of future dividends. Only used when trailing yield ≥ 2% and dividend payments are stable — below that the dividend is a token payout and Gordon (which values only the dividend stream) systematically underprices growth names, so those route to DCF + comparables + market anchor instead.
  • P/E, EV/EBITDA, P/B, P/S — applies the peer-group median multiple to this company's per-share metric. Peers come from the same set as the "Related symbols" card. Earnings/sales metrics are forward-tilted by the company's recent revenue growth (capped at 25%) so they're comparable to peers' growth-embedded multiples — mimics how analysts use NTM rather than TTM. Per-multiple weights are biased by company quality (e.g. P/B down-weighted for asset-light tech).
  • Market Anchor (SMA50) — the 50-day moving average, weighted by recent trading-range stability (tighter Bollinger bands → higher weight). Captures information fundamentals miss (forward consensus, sentiment, supply/demand) — but only when recent trading is steady enough that the market has converged on a view. During wild breakouts or breakdowns the anchor's weight collapses.
  • Options Expected (B-L 30d) — the risk-neutral expected stock price at 30-day options expiration, derived from the full implied-volatility surface via Breeden-Litzenberger (second derivative of call price wrt strike → implied PDF, then E[S_T]). Forward-looking, captures all options-implied information (smile, skew, term structure) in one number. Weighted by chain liquidity. SP500-only at present (pre-computed daily). Backtest evidence: adds modest alpha across most bucket × holding combos.
  • Blended value — weighted average. Confidence reflects how many methods fired and how tight peer dispersion is.
  • Deviation pill — green when blended FV ≥ 10% above current price (undervalued); red when ≥ 10% below; grey otherwise.
10-yr Treasury (rf)4.95%
Beta vs SPY1.48
Cost of Equity (CAPM)13.07% (VRP-adj)
WACC12.42%
Volatility Risk Premium+46.6pp (IV − HV30), ERP adj +50bps
Effective Tax Rate21.0%
Rev. Growth (YoY, DCF input)-10.0%
DCF Horizon5 years explicit + fade
Free Cash Flow (TTM)$-0.1B
Return on Equity (TTM)-68.7%
Book / Price5.8%
Gross Margin (TTM)100.0%
FCF Margin (TTM)-11.2%
Debt / Equity1.77
Quality Score1/6 — cyclical/struggling (5y DCF)
SMA 50$67.52 (Market Anchor value)
SMA 20 / Bollinger Mid$59.13
Bollinger Width / SMA2017.5% (drives anchor stability)
Net Debt$0.8B
Market Cap$8B
Peers used for multiples: GH, GILD, LLY, MRNA, NTRA, RVMD, TWST, VRTX
60-Day Conviction
65%
20-Day Fair Value
≈ by Dec 7, 2026
$57.76
α -0.3% rank 53%
conviction
21%
40-Day Fair Value
≈ by Jan 5, 2027
$59.52
α +2.8% rank 54%
conviction
84%
60-Day Fair Value
≈ by Feb 3, 2027
$59.03
α +1.9% rank 51%
conviction
65%
MethodImplied PriceWeightDetail
DCF n/a 0%
DDM (Gordon) n/a 0%
Peer P/E n/a 0%
Peer EV/EBITDA n/a 0% median 30.0× · 3 peers
Peer P/B $55.23 13% median 16.6× · 7 peers
Peer P/S $91.39 13% median 19.1× · 7 peers
Market Anchor (SMA50) $67.52 44% stability 68% (BB-width)
Options Expected (B-L 30d) $57.48 31% 19 strikes · skew +0.59
As of 2026-11-06 · updated
About
Industry (SIC)
PHARMACEUTICAL PREPARATIONS (2834) · industry map
Exchange
XNAS
Market Cap
$8.1B
Employees
711
List Date
1995-02-01
CIK
0000879407
Next Earnings
2026-11-12 (After-Close)
EPS Forecast
($1.52)
Headquarters
Pasadena, CA
Homepage
https://www.arrowheadpharma.com

Arrowhead Pharmaceuticals Inc is a commercial-stage pharmaceutical company. It is focused on the development of medicines for diseases associated with genetic abnormalities or protein overproduction. The company develops potential RNAi therapies designed to inhibit the expression of genes known to trigger diseases. Its portfolio includes potential drugs targeting Cardiometabolic, Neuromuscular, Pulmonary, Liver, and other diseases. The company also develops RNAi products and clinical candidates designed to target different cell types within the body.

Summary
—
composite
—
No summary data available for this symbol yet.

Each spoke is this symbol's rank within its sector (0–100; the dotted ring marks the sector median at 50). Higher is more constructive for a long. One spoke — News sentiment — is an absolute reading, not a sector rank. Grayed spokes have no data. A fuller shape is a summary, not a recommendation.

Chart
Seasonality
'21'22'23'24'25'26Avg
Jan3.13%-24.60%-9.14%3.51%1.17%2.27%-3.94%
Feb-0.13%-20.15%-8.47%-0.28%0.91%-13.33%-6.91%
Mar-20.85%3.79%-22.23%-20.73%-28.06%-2.53%-15.10%
Apr8.48%-16.44%38.54%-19.90%13.81%16.78%6.88%
May3.36%-22.51%-3.67%-0.95%14.46%4.14%-0.86%
Jun15.17%6.54%2.86%5.56%-3.66%8.39%5.81%
Jul-18.44%18.27%-1.93%9.64%-1.80%5.23%1.83%
Aug-1.31%-4.93%-17.93%-13.22%38.29%-4.21%-0.55%
Sep-8.85%-19.96%-3.90%-15.45%34.31%-20.90%-5.79%
Oct1.95%3.17%-6.32%0.26%21.08%-7.55%2.10%
Nov-1.32%-9.35%-17.80%33.56%33.05%-2.79%*5.89%
Dec-1.04%26.67%32.07%-28.63%18.03%--9.42%
Total-23.11%-54.04%-30.16%-47.32%219.66%-18.39%7.77%
Technical Indicators

Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.

Trend Indicators
  • SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
  • EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
  • MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
  • ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
  • +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
  • RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
  • Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
  • Williams %R — inverted scale: <−80 oversold, >−20 overbought.

Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.

Volume & Volatility
  • Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
  • OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
  • Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
  • ATR / True Range — average daily $ move; sizing and stop-loss reference.
  • HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.

Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →

Trend Indicators

SMA 20: $58.89
SMA 50: $66.91
SMA 200: $71.55
Current: $57.95
EMA 12: $59.30
EMA 26: $61.22
MACD: -1.9219 | Signal: 0.5740
BEARISH
ADX (14): 25.82
TREND
+DI: 16.48
−DI: 23.78

Momentum Oscillators

RSI (14): 38.89
NEUTRAL
Stoch %K: 47.86
Stoch %D: 60.01
Williams %R: -74.45

Volume & Volatility

BB Upper: $61.49
BB Lower: $56.29
NEUTRAL
OBV: -10,728,231
Vol SMA 20: 1,589,930
Vol ROC: 7.19%
ATR: $2.52
True Range: $1.71
HV 20: 42.0%
HV 30: 37.1%
HV 60: 48.0%

Data Summary

Data Points: 500
Last Updated:
Date Range: 2024-11-07T00:00:00 – 2026-11-05T00:00:00
AI Analysis

ARWR Stock Analysis Report

Executive Summary

Overall Assessment: BEARISH | Confidence Level: 8/10

ArrowHead Research (ARWR) is signaling a strong downtrend with converging bearish technical indicators and elevated volatility. The stock has broken below key moving averages and is trading near oversold conditions, but the overwhelming negative momentum suggests further downside before any meaningful relief rally. While recent news headlines reflect positive industry tailwinds (RNA therapeutics expansion, CRISPR adoption, complement inhibitors market growth), these macro-positive narratives have failed to arrest the stock's technical deterioration, indicating that company-specific or portfolio-level headwinds are dominating.

Investment Thesis: ARWR is in active downtrend (price $58.13 vs SMA200 $72.26, -19.5% discount) with RSI at 26.34 (oversold) and MACD deeply negative (-4.87 histogram), but put/call volume ratios (2.01) and elevated historical volatility (HV60 59.6%) suggest institutional unwinding. The technical deterioration significantly outweighs positive industry sentiment, creating asymmetric downside risk until technical stabilization occurs.

Recent News Sentiment Impact: POSITIVE headlines regarding RNAi therapeutics, oligonucleotide CDMO expansion, and complement inhibitor adoption suggest favorable market conditions for ARWR's pipeline. However, the disconnect between positive news and negative price action is a critical red flag—this suggests either company-specific execution concerns, clinical trial setbacks, or portfolio rebalancing overriding sector momentum.

Technical Analysis

Trend Direction

| Timeframe | Direction | Strength | Status | |-----------|-----------|----------|--------| | Short-term (1-4 weeks) | BEARISH | STRONG | In downtrend; price below SMA20 ($64.67) | | Medium-term (1-3 months) | BEARISH | STRONG | Price below SMA50 ($77.35) by -24.8%; bearish structure intact | | Long-term (3-12 months) | BEARISH | MODERATE | Price below SMA200 ($72.26); 19.5% discount suggests structural weakness |

Support/Resistance Levels

| Level | Type | Distance | Significance | |-------|------|----------|---------------| | $70.97 | Resistance (BB Upper) | +22.1% | Bollinger Band upper band; strong resistance | | $64.67 | Resistance (SMA20) | +11.2% | 20-day MA; short-term trend barrier | | $62.93 | Resistance (EMA12) | +8.3% | 12-day EMA; immediate overhead resistance | | $58.38 | Support (BB Lower) | +0.4% | Bollinger Band lower band; extremely close to current price | | $55.00 | Support (Psychological) | -5.4% | Round number; potential consolidation floor | | $50.00 | Support (Technical) | -14.0% | Extended downside target if breakdown accelerates |

Critical Observation: ARWR is trading just above its lower Bollinger Band ($58.38), indicating the stock is at an extreme technical extreme. Any break below $58.38 would represent a breakdown from the current volatility envelope, potentially triggering capitulation selling.

Momentum Signals

RSI (14): 26.34 — OVERSOLD SIGNAL

  • Reading below 30 indicates oversold conditions, historically associated with short-term bounce potential
  • However, RSI can remain oversold for extended periods during strong downtrends (see strong ADX reading below)
  • Does NOT guarantee immediate reversal; often precedes further weakness in bearish regimes

MACD: -4.88 / Signal: -0.01 / Histogram: -4.87 — DEEPLY BEARISH

  • Large negative histogram (-4.87) indicates MACD is far below signal line
  • MACD is in negative territory with -4.88 reading, confirming bearish momentum
  • Signal line at -0.01 (near zero) shows momentum has been deteriorating, not stabilizing
  • No bullish crossover in sight; bearish trajectory continues

Bollinger Bands: PRICE AT LOWER BAND — EXTREME OVERSOLD

  • Price ($58.13) is 0.4% above lower band ($58.38)
  • Band width of 19.47 is moderate, not suggesting imminent squeeze breakout
  • Oversold positioning typically precedes mean-reversion moves, but given strong trend strength (ADX 35.78), mean reversion may not occur until downtrend exhaustion

Volume Analysis

| Metric | Value | Interpretation | |--------|-------|-----------------| | Volume SMA 20 | 2,329,564 | 20-day average volume baseline | | Volume Rate of Change | -22.22% | CRITICAL: Volume declining significantly; less conviction in recent moves | | On-Balance Volume | -12,068,736 | NEGATIVE: Cumulative volume suggests distribution, not accumulation | | Institutional Interest | DECLINING | Volume declining during downtrend suggests institutional exit, not accumulation |

Volume Interpretation: The -22.22% volume rate of change is a concerning sign during a downtrend. While declining volume sometimes suggests exhaustion, it can also indicate institutional liquidation following a cascading sell-off. The negative OBV confirms that on each price decline, volume exceeded on each rise, showing net selling pressure. This is bearish despite the technical oversold reading.

News & Sentiment Analysis

Recent Headlines Summary

All six recent headlines reflect positive industry trends surrounding ARWR's core therapeutic areas:

  1. HoFH Market Growth (7MM) — RNAi therapeutics driving expansion in familial hypercholesterolemia treatment
  2. Oligonucleotide CDMO Market — $9.87B market forecast by 2031; RNA-targeted drug pipelines expanding (ARWR's core platform)
  3. Complement Inhibitors Market — Strong outlook for C5/C3-targeted drugs (relevant to ARWR pipeline)
  4. IgA Nephropathy — Novel therapies driving expansion in kidney disease market
  5. CRISPR Therapeutics — Momentum in gene therapy adoption (adjacent to ARWR's genetic medicine focus)
  6. Idiopathic Pulmonary Fibrosis — 80+ leading companies, 100+ novel treatments in pipeline

Sentiment Assessment

  • Aggregate News Sentiment: POSITIVE (5/6 headlines)
  • Sentiment-to-Price Disconnect: SEVERE

This is a critical divergence: industry fundamentals and market opportunities are expanding robustly, yet ARWR has declined significantly. This suggests:

  • Company-specific execution risk (trial failures, program delays, competitive pressure)
  • Portfolio rebalancing by large shareholders
  • Valuation concern (stock priced as if opportunities won't materialize)
  • Recent catalyst miss not yet reflected in news headlines

Catalyst Identification

| Catalyst | Date | Impact | |-----------|------|--------| | Earnings Release | 2026-11-24 | 56 days; material update on pipeline progress, patient enrollment, revenue | | Previous Earnings | 2026-08-04, 2026-05-07, 2026-02-05 | Quarterly cadence; likely contains recent company updates | | Industry Conference Season | Q4 2026 | Market access updates, partnership announcements |

Critical Gap: No recent (last 30-day) company-specific news in provided headlines. The most recent article is dated 2026-09-30 (market research, not company news). This 3-4 week gap between last earnings (presumed Q3 around late August) and current analysis suggests either:

  • Negative Q3 results triggered recent sell-off
  • Silent period before earnings announcement (Nov 24)
  • No major announcements made

Market Narrative Conflict

| Signal | Message | Status | |--------|---------|--------| | Technical | Bearish downtrend, capital flight | STRONG | | News | Industry tailwinds, market expansion | MODERATE-STRONG | | Options | Elevated volatility, puts/calls imbalanced 2:1 | BEARISH | | Volume | Declining conviction; distribution pattern | BEARISH |

Narrative Assessment: The market is pricing in execution risk or near-term disappointment that news headlines

Generated
Earnings History
17 of 22 under expected move
Avg Expected Move
12.12%
Avg Actual Move
7.91%
Each row pairs the pre-earnings straddle-implied expected move with the realized close-to-close move. Sorted oldest first.
Earnings Date Timing Expected Move Actual Move Ratio Outcome
2021-02-04 After-Close 12.76% 7.81% 0.61x Within
2021-05-04 After-Close 13.09% 0.02% 0.00x Within
2021-08-05 After-Close 10.93% 4.79% 0.44x Within
2021-11-22 After-Close 13.42% 2.32% 0.17x Within
2022-02-02 After-Close 10.47% 6.92% 0.66x Within
2022-05-10 After-Close 10.85% 15.57% 1.44x Exceeded
2022-08-04 After-Close 11.92% 0.37% 0.03x Within
2022-11-28 After-Close 19.64% 7.11% 0.36x Within
2023-05-02 After-Close 10.51% 13.62% 1.30x Exceeded
2023-08-07 After-Close 10.16% 10.78% 1.06x Exceeded
2023-11-29 After-Close 10.18% 26.85% 2.64x Exceeded
2024-02-06 After-Close 9.97% 4.67% 0.47x Within
2024-05-09 After-Close 10.72% 10.68% 1.00x Within
2024-08-08 After-Close 12.38% 9.44% 0.76x Within
2024-11-26 After-Close 14.25% 24.23% 1.70x Exceeded
2025-02-10 Pre-Market 10.99% 1.58% 0.14x Within
2025-05-12 After-Close 10.92% 9.38% 0.86x Within
2025-08-07 After-Close 11.99% 2.24% 0.19x Within
2025-11-25 Pre-Market 18.08% 5.72% 0.32x Within
2026-02-05 After-Close 14.77% 0.19% 0.01x Within
2026-05-07 After-Close 8.53% 6.75% 0.79x Within
2026-08-04 After-Close 10.05% 2.99% 0.30x Within

Earnings calendar: this week’s reports with expected vs actual moves →

ARWR Options Activity & IV Rank

ARWR IV rank history, 52-week IV rank and IV percentile →

Volatility Metrics

Current IV: 63.2%
7-DTE IV: 72.3%
Expected Move: $9.40
7-DTE Move: $6.50
Days to Exp: 42 (2026-12-18)

Options Flow · Dec 18 expiry

Call Volume: 378
Put Volume: 124
P/C Volume: 0.328
BULLISH
Call OI: 5,961
Put OI: 3,962
P/C OI: 0.665
Total OI: 9,923

ATM Options Pricing

ATM Call: $4.90
ATM Put: $4.50
Call %: 8.5%
Put %: 7.8%

Chain Summary

Chain Volume: 4,477
Chain OI: 41,869
Last Updated: 11/6/2026
Spread Scanner
Full Algorithm Docs ↗

Each spread is ranked by a composite score built in three stages. Full documentation →

Stage 1 — Base Score

score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Calendars: the long leg is valued at the short leg’s expiration (Black-Scholes at its current IV) across the range of prices the short leg’s IV implies, giving the best-case profit (R/R = that over the debit) and P(profit).

Stage 2 — Skew Adjustment (±25% cap)

RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.

Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
  • RSI <40 bullish / >60 bearish
  • MACD crossover + histogram trend
  • Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
  • Stochastic %K <20 / >80
  • Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
  • Blended ATR + straddle expected-move penalty
  • Bollinger Band signal (+ counter-trend penalty)
  • BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
  • IV rank ≥ 75 → strong boost for credit spreads
  • IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
  • Min open interest across all legs
  • OI < 100 → −0.10 · OI < 500 → −0.05

score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →

Scanning bull put, bear call, iron condor and calendar spreads…

Dealer Positioning
LOW γ vs HISTORY

Estimated net dealer gamma is at the 5th percentile of this name's own daily history, near the low end of its range. This describes current positioning; it is not a forecast or a trading signal.

Gamma percentile
5%
vs own history
GEX tilt
-0.16
OI-weighted, today
Vanna tilt
-0.03
δ-sensitivity to IV
Charm tilt
-0.03
δ-decay vs time

Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.

Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.

Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.

This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.

· 36 ATM contracts, 13k total OI
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Metric:
Wing vs ATM
IV(put wing) − IV(ATM), in vol points

How much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.

  • Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
  • Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
  • Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
  • Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each side

Which side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.

  • Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
  • Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
  • Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
  • Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together

Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:

  • High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
  • Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
  • Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d —
— pts EXTREME
ATM 72.3% / Wing —
30 DTE / 10d —
— pts EXTREME
No data

Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.

Volatility Surface

Loading the implied volatility surface…

Volatility Smile

Loading the implied volatility smile…

IV Rank (7 DTE)51.7MediumNov 6
IV Rank (30 DTE)47.2MediumNov 6
Straddle Price (30 DTE)$9.40Nov 6
Beta Analysis

Risk Metrics

Beta: 1.6108
Alpha: 39.22%
Correlation: 0.3571
R-Squared: 12.8%
Stock Volatility: 61.2%
Market Volatility: 13.6%

Analysis Details

Benchmark: SPY
Data Points: 251
Period: 252 trading days
Interpretation:
High volatility - stock moves more than market
Beta & Alpha Over Time
Notable investors who own ARWR
5 of 37 tracked investors
InvestorValueShare of their portfolioRankQ/Q sharesSource
Renaissance Technologies Hedge fund
Jim Simons
$38.2M
0.05%
#428 of 3138-54.8%13F
Millennium Management Hedge fund
Izzy Englander
$30.6M
0.02%
#878 of 3716+2.4%13F
Oaktree Capital Asset manager
Howard Marks
$11.0M
0.21%
#70 of 130-17.3%13F
Citadel Hedge fund
Ken Griffin
$8.5M
0.00%
#1711 of 6285new13F
Rockefeller Capital Management Family office
Rockefeller family
$432K
0.00%
#2167 of 4729+302.0%13F

Hedge funds, activists, holding companies and family offices we track, from their latest 13F (quarter-end value) and Form 4 filings in the last 3 years. Family offices · all institutions

ARWR Institutional Ownership (13F)

Latest filings — 2026-09-30
Diluted shares outstanding: 140,064,750 (as of 2026-06-30)

Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.

  • Shares — long equity positions in this name, aggregated across share classes.
  • Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
  • % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
  • Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.

Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.

541 filers791,319,689 shares$11.56B value564.97% of float
# Filer Shares Value % of Total % of Float Period
1 BlackRock, Inc. Custodian 14,830,553 $1.21B 10.45% 10.59% 2026-06-30
2 Vanguard Group Inc Custodian 15,293,121 $1.02B 8.78% 10.92% 2025-12-31
3 Avoro Capital Advisors LLC 11,355,555 $925.59M 8.00% 8.11% 2026-06-30
4 FMR LLC Custodian 15,179,804 $663.85M 5.74% 10.84% 2026-06-30
5 Vanguard Portfolio Management LLC 6,351,355 $517.70M 4.48% 4.53% 2026-06-30
6 Vanguard Capital Management LLC 6,110,953 $498.10M 4.31% 4.36% 2026-06-30
7 State Street Corp 24,144,640 $486.24M 4.21% 17.24% 2026-06-30
8 DEERFIELD MANAGEMENT COMPANY, L.P. 201,389,055 $353.76M 3.06% 143.78% 2026-06-30
9 Invesco Ltd. Custodian 5,883,976 $318.97M 2.76% 4.20% 2026-06-30
10 Norges Bank 3,896,536 $317.61M 2.75% 2.78% 2026-06-30
11 Geode Capital Management, LLC Custodian 3,530,612 $298.81M 2.58% 2.52% 2026-06-30
12 FRED ALGER MANAGEMENT, LLC 3,301,919 $269.14M 2.33% 2.36% 2026-06-30
13 BAKER BROS. ADVISORS LP 1,992,783 $162.43M 1.40% 1.42% 2026-06-30
14 Siren, L.L.C. 1,715,476 $139.83M 1.21% 1.22% 2026-06-30
15 Vestal Point Capital, LP 1,575,000 $128.38M 1.11% 1.12% 2026-06-30
16 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Custodian 29,964,479 $113.23M 0.98% 21.39% 2026-06-30
17 First Trust Advisors LP 1,352,918 $110.28M 0.95% 0.97% 2026-06-30
18 Driehaus Capital Management LLC 1,350,556 $110.08M 0.95% 0.96% 2026-06-30
19 Jupiter Topco LLC 1,221,596 $99.62M 0.86% 0.87% 2026-06-30
20 Northern Trust Corp Custodian 1,192,868 $97.23M 0.84% 0.85% 2026-06-30
21 Dimensional Fund Advisors LP Custodian 1,181,608 $96.31M 0.83% 0.84% 2026-06-30
22 Bank of America Corp Custodian 3,819,810 $96.11M 0.83% 2.73% 2026-06-30
23 Goldman Sachs Group Inc Custodian 1,150,007 $93.74M 0.81% 0.82% 2026-06-30
24 Morgan Stanley Custodian 4,881,835 $92.96M 0.80% 3.49% 2026-06-30
25 Hood River Capital Management LLC 1,120,747 $91.35M 0.79% 0.80% 2026-06-30
13 filers$144.19M notional
# Filer Notional Value % of Total Period
1 Susquehanna International Group, LLP Custodian $70.72M 49.04% 2026-06-30
2 Caption Management, LLC $25.72M 17.84% 2026-06-30
3 Citadel Advisors LLC Custodian $21.76M 15.09% 2026-06-30
4 Jane Street Group, LLC Custodian $11.13M 7.72% 2026-06-30
5 Millennium Management LLC Custodian $6.37M 4.42% 2026-06-30
6 Citigroup Inc. Custodian $3.15M 2.19% 2026-06-30
7 Point72 Asset Management, L.P. $2.00M 1.39% 2026-06-30
8 Wolverine Trading, LLC Custodian $1.30M 0.90% 2025-09-30
9 TUDOR INVESTMENT CORP ET AL $1.22M 0.85% 2026-06-30
10 DLD Asset Management, LP $407.80K 0.28% 2026-06-30
11 Walleye Capital LLC $317.89K 0.22% 2026-06-30
12 Raiffeisen Bank International AG $41.38K 0.03% 2026-09-30
13 Walleye Trading LLC $40.76K 0.03% 2026-06-30
11 filers$62.63M notional
# Filer Notional Value % of Total Period
1 Susquehanna International Group, LLP Custodian $34.60M 55.25% 2026-06-30
2 Jane Street Group, LLC Custodian $8.17M 13.04% 2026-06-30
3 Ikarian Capital, LLC $8.15M 13.01% 2026-06-30
4 Citadel Advisors LLC Custodian $4.82M 7.69% 2026-06-30
5 BOOTHBAY FUND MANAGEMENT, LLC $2.41M 3.85% 2026-06-30
6 Citigroup Inc. Custodian $2.18M 3.47% 2026-06-30
7 Point72 Asset Management, L.P. $1.26M 2.00% 2026-06-30
8 Caption Management, LLC $505.36K 0.81% 2026-06-30
9 Wolverine Trading, LLC Custodian $347.93K 0.56% 2025-09-30
10 Walleye Capital LLC $130.42K 0.21% 2026-06-30
11 Walleye Trading LLC $65.21K 0.10% 2026-06-30

ARWR Insider Trading (Form 4)

Latest: 2026-08-20
Form 4 filings — insider beneficial-ownership changes by officers, directors, and 10%+ holders. Filed within 2 business days of transaction.
Filed Reporter Role Action Shares Avg Price Net $ Link
2026-08-20 Michael S Perry Director Sell (S) −11,600 $87.30 -$1.01M EDGAR
2026-08-20 Adeoye Y Olukotun Director Sell (S) −2,000 $86.96 -$173.9K EDGAR
2026-06-17 Matthew Gregory Cohen Director Award (A) +11,882 — EDGAR
2026-05-14 Hongbo Lu Director Sell (S) −2,970 $76.88 -$228.3K EDGAR
2026-04-24 James C Hamilton Chief Medical Officer Sell (S) −10,000 $75.00 -$750.0K EDGAR
2026-04-24 Daniel Joseph Apel Chief Financial Officer Sell (S) −13,095 $71.35 -$934.3K EDGAR
2026-03-09 James C Hamilton Chief Medical Officer Sell (S) −10,000 $64.19 -$641.9K EDGAR
2026-01-08 Patrick O'Brien COO Mixed +72,500 — EDGAR
2026-01-08 Daniel Joseph Apel Chief Financial Officer Award (A) +75,000 — EDGAR
2026-01-08 James C Hamilton Chief Medical Officer Award (A) +75,000 — EDGAR
2026-01-05 Christopher Richard Anzalone Chief Executive Officer Sell (S) −13,187 $66.10 -$871.7K EDGAR
2026-01-05 James C Hamilton Chief Medical Officer Sell (S) −40,164 $63.11 -$2.53M EDGAR
2026-01-05 Patrick O'Brien COO Mixed −52,293 $63.11 -$3.12M EDGAR
2025-12-30 Mauro Ferrari Director Sell (S) −7,530 $70.00 -$527.1K EDGAR
2025-12-30 Christopher Richard Anzalone Chief Executive Officer Mixed — $37.64 -$3.26M EDGAR
Codes: P = open-market purchase · S = open-market sale · A = grant/award · M = option exercise · F = tax withholding at vest · G = bona-fide gift · D = disposition to issuer · J = other (described in filing footnote — typically 401(k), trust, inheritance) · W = will/inheritance. Only P / S codes carry directional signal.

ARWR Insider Holdings

14 insiders · @ $57.95
Officers, directors, and 10%+ owners who have filed a Form 4 in the past two years, ranked by current disclosed exposure (shares × today's price). Shares are direct + indirect (via trusts / LLCs / spouse). Excludes unvested RSU and option grants — those aren't beneficially owned until vest.
# Insider Role Shares Disclosed Exposure Lifetime OM Net Filings Last Filed
1 Christopher Richard Anzalone Chief Executive Officer 3,792,739 $219.79M -$108.73M 73 2026-01-05
2 Kenneth Allen Myszkowski Chief Financial Officer 473,433 $27.44M -$24.52M 47 2025-01-07
3 Patrick O'Brien COO 472,848 $27.40M -$20.67M 21 2026-01-08
4 James C Hamilton Chief Medical Officer 226,958 $13.15M -$14.39M 20 2026-04-24
5 Daniel Joseph Apel Chief Financial Officer 162,905 $9.44M -$934.3K 2 2026-04-24
6 Douglas B Given Director 137,214 $7.95M -$5.31M 37 2024-12-18
7 Michael S Perry Director 111,459 $6.46M -$9.33M 25 2026-08-20
8 Mauro Ferrari Director 69,053 $4.00M -$2.32M 19 2025-12-30
9 William D. Waddill Director 56,563 $3.28M -$2.84M 16 2025-12-23
10 Hongbo Lu Director 52,012 $3.01M -$145.3K 4 2026-05-14
Lifetime OM Net = signed sum of open-market buys (P) and sells (S) over their career; excludes grants, tax withholdings, and dispositions to issuer. A large negative number is normal for long-tenured executives — they've sold compensation grants over many years.

ARWR Board & Officers

As of SEC filings through Aug 20, 2026

Directors 9

Officers 4

Changes in the last 10 years (24)
Jun 15, 2026Matthew Gregory Cohen became a director
Jan 5, 2026Patrick O'Brien listed as COO (previously COO and General Counsel) in SEC filings
Aug 15, 2025James C Hamilton listed as Chief Medical Officer (previously Chief Discovery/Trans Medicine) in SEC filings
Apr 15, 2025Daniel Joseph Apel became Chief Financial Officer
Apr 11, 2025The company announced the departure of Kenneth Allen Myszkowski as Chief Financial Officer in an SEC filing
Feb 6, 2025Douglas S Ingram became a director
Dec 11, 2024The company announced the departure of Douglas B Given from the board in an SEC filing
Mar 15, 2024Hongbo Lu became a director
Jan 17, 2024James C Hamilton first listed as Chief Discovery/Trans Medicine in an SEC filing
Jan 16, 2024The company announced the departure of Martin Javier San as Chief Medical Officer in an SEC filing
Feb 11, 2023The company announced the departure of Marianne De Backer from the board in an SEC filing
Jan 5, 2023Patrick O'Brien listed as COO and General Counsel (previously General Counsel) in SEC filings
Jun 20, 2022Tracie Oliver became Chief Commercial Officer
May 2, 2022Victoria Vakiener became a director
Nov 23, 2020Curt Bradshaw reported in an SEC filing no longer being Chief Scientific Officer
Sep 1, 2020Adeoye Y Olukotun became a director
Jan 6, 2020James Hassard became Chief Commercial Officer
Dec 12, 2019Marianne De Backer became a director
Nov 18, 2019Martin Javier San became Chief Medical Officer
Nov 18, 2019Curt Bradshaw became Chief Scientific Officer
Not reported recently (6)
  • Tracie Oliver · Last reported as Chief Commercial Officer in an SEC filing dated Jul 3, 2024
  • James Hassard · Last reported as Chief Commercial Officer in an SEC filing dated Jun 24, 2021
  • Bruce D Given · Last reported as Chief Operating Officer in an SEC filing dated Apr 29, 2020
  • Zhen Li · Last reported as Snr. VP, Chem and Non-Clin Dev in an SEC filing dated Jan 16, 2019
  • Peter Brian Leone · Last reported as VP, Strategic Bus. Initiatives in an SEC filing dated Oct 23, 2018
  • Edward W Frykman · Last reported as a director in an SEC filing dated Jan 3, 2018
Compiled from SEC filings by the company and its directors and officers. Dates are as stated in those filings. Where no filing says when someone left, we show the last filing that listed them.

ARWR Proposed Insider Sales (Form 144)

Latest: 2026-08-18
Last 30d: 0 filings  ·  Last 90d: 2 filings · $1.2M notice value · 2 unique filers

What is Form 144? A notice of intent to sell restricted or control stock under Rule 144. Affiliates (officers, directors, 10%+ owners) and holders of restricted shares must file Form 144 when planning to sell more than 5,000 shares or $50,000 in any 3-month rolling window.

How it relates to Form 4: Form 144 is filed before the trade (up to 90 days in advance); Form 4 is filed within 2 business days after the trade executes. Not every Form 144 results in a sale — the filer may cancel or delay. Look for the corresponding Form 4 on the Insider Activity card to confirm a sale actually happened.

10b5-1 plans: Trades made under a pre-scheduled Rule 10b5-1 plan are not discretionary — they execute automatically on dates set months earlier, regardless of news. High 10b5-1 percentages mean less per-filing signal value, though cumulative selling volume still matters.

"Notice value": Aggregate market value the filer wrote into the Form 144 — i.e. the size of the planned sale, not necessarily the executed dollars. An amended notice (Form 144/A) replaces the original it amends, and cancelled notices are dropped, so neither is double-counted above. A filed value that is clearly inconsistent with the share count at the stock's price (a filer typo) shows as a dash and is left out of the totals.

Source & freshness: Sourced from public Form 144 filings. Refreshed daily; new filings typically appear here the morning after they are filed.

Top 90-day filers: Michael Perry (1, $1.0M) · Adeoye Olukotun (1, $174K)
Filed Filer Role Shares Notice Value Planned Sale Broker Plan Link
2026-08-18 Adeoye Olukotun Director 2,000 $173.9K 2026-08-18 Merrill Lynch — EDGAR
2026-08-18 Michael Perry Director 11,600 $1.01M 2026-08-18 Merrill Lynch — EDGAR
2026-05-19 144/A Daniel Apel Officer 13,095 $934.2K 2026-04-22 Merrill Lynch 10b5-1 EDGAR
2026-05-19 144/A Hongbo Lu Officer 2,970 $228.3K 2026-05-12 Merrill Lynch 10b5-1 EDGAR
2026-05-19 144/A James Hamilton Officer 10,000 $750.0K 2026-04-23 Merrill Lynch 10b5-1 EDGAR
2026-03-05 James Hamilton Officer 10,000 $641.9K 2026-03-05 Merrill Lynch 10b5-1 EDGAR
2026-01-05 144/A James Hamilton Officer 40,164 $2.53M 2026-01-05 Merrill Lynch 10b5-1 EDGAR
2026-01-05 Patrick O'Brien Officer 49,493 $3.12M 2026-01-05 Merrill Lynch 10b5-1 EDGAR
2026-01-02 Christopher Anzalone Officer 13,187 $871.7K 2026-01-02 Merrill Lynch 10b5-1 EDGAR
2025-12-29 Christopher Anzalone Officer 51,726 $3.58M 2025-12-29 Merrill Lynch 10b5-1 EDGAR
Notice value is the aggregate market value the filer states they intend to sell — not a confirmed transaction. Compare to Insider Activity (Form 4) to see which planned sales actually executed. Market-wide feed: Planned sales (Form 144).
Recent SEC Filings
Latest: 2026-11-04
Current reports — material events the company must disclose within 4 business days (earnings releases, M&A, executive changes, etc.).
Filing Date Accession Link
2026-11-04 0000879407-26-000063 EDGAR
2026-08-04 0000879407-26-000058 EDGAR
2026-06-16 0000879407-26-000050 EDGAR
2026-05-07 0000879407-26-000045 EDGAR
2026-03-20 0000879407-26-000037 EDGAR
2026-02-05 0000879407-26-000033 EDGAR
2026-01-12 0001193125-26-010582 EDGAR
2026-01-09 0001193125-26-007971 EDGAR
2026-01-06 0000879407-26-000004 EDGAR
2025-11-25 0000879407-25-000027 EDGAR
Annual report — audited financial statements, MD&A, risk factors. Filed 60–90 days after fiscal year-end.
Filing Date Accession Link
2025-11-25 0000879407-25-000029 EDGAR
2024-11-26 0001628280-24-049277 EDGAR
2023-11-29 0001628280-23-040219 EDGAR
2022-11-28 0001628280-22-030869 EDGAR
2021-11-22 0001564590-21-057888 EDGAR
2020-11-23 0001564590-20-054893 EDGAR
2019-11-25 0001564590-19-044376 EDGAR
2018-12-11 0001564590-18-030805 EDGAR
2017-12-12 0001564590-17-024834 EDGAR
2016-12-14 0001564590-16-030217 EDGAR
Quarterly report — unaudited financials and MD&A. Filed 40–45 days after each of the first three fiscal quarters.
Filing Date Accession Link
2026-08-04 0000879407-26-000057 EDGAR
2026-05-07 0000879407-26-000047 EDGAR
2026-02-05 0000879407-26-000034 EDGAR
2025-08-07 0001628280-25-038858 EDGAR
2025-05-12 0001628280-25-024666 EDGAR
2025-02-10 0001628280-25-004634 EDGAR
2024-08-08 0001628280-24-036104 EDGAR
2024-05-09 0001628280-24-022215 EDGAR
2024-02-06 0001628280-24-003492 EDGAR
2023-08-07 0001628280-23-027771 EDGAR
ETF Holders
136 ETFs hold ARWR
25 shown · $1.74B total exposure · 0.16% AUM-weighted avg weight
# ETF Provider Weight $ Exposure ETF AUM As Of
1 IJH iShares Core S&P Mid-Cap ETF iShares (BlackRock) 0.25% $315.2M $120.8B 2026-11-04
2 VTI Vanguard Morningstar Total Stock Market ETF Vanguard 0.01% $279.3M — 2026-09-30
3 VB Vanguard Morningstar Small-Cap ETF Vanguard 0.11% $197.7M — 2026-09-30
4 XBI State Street® SPDR® S&P® Biotech ETF SPDR (State Street) 1.06% $115.5M $10.9B 2026-11-04
5 XMMO Invesco S&P MidCap Momentum ETF Invesco 1.73% $111.4M — 2026-11-04
6 VBK Vanguard Morningstar Small-Cap Growth ETF Vanguard 0.25% $110.1M — 2026-09-30
7 VXF Vanguard Extended Market ETF Vanguard 0.11% $104.1M — 2026-09-30
8 MDY State Street® SPDR® S&P MIDCAP 400® ETF Trust SPDR (State Street) 0.25% $66.4M $26.6B 2026-11-04
9 IBB iShares Biotechnology ETF iShares (BlackRock) 0.55% $63.0M $11.0B 2026-11-04
10 IJK iShares S&P Mid-Cap 400 Growth ETF iShares (BlackRock) 0.51% $53.1M $10.0B 2026-11-04
11 SCHA Schwab U.S. Small-Cap ETF Nport 0.23% $52.5M — 2026-05-31
12 SPMD State Street® SPDR® Portfolio S&P 400™ Mid Cap ETF SPDR (State Street) 0.25% $47.8M $19.0B 2026-11-04
13 IWR iShares Russell Mid-Cap ETF iShares (BlackRock) 0.06% $35.4M $56.8B 2026-11-04
14 IWP iShares Russell Mid-Cap Growth ETF iShares (BlackRock) 0.16% $29.5M $18.3B 2026-11-04
15 VHT Vanguard Health Care ETF Vanguard 0.11% $23.9M — 2026-09-30
16 PDP Invesco Dorsey Wright Momentum ETF Nport 1.38% $19.9M — 2026-07-31
17 IWF iShares Russell 1000 Growth ETF iShares (BlackRock) 0.02% $19.7M $112.9B 2026-11-04
18 FMDE Fidelity Enhanced Mid Cap Core ETF Fidelity 0.20% $17.7M $8.9B 2026-11-04
19 IVOO Vanguard S&P Mid-Cap 400 ETF Vanguard 0.27% $15.5M — 2026-09-30
20 MDYG State Street® SPDR® S&P 400™ Mid Cap Growth ETF SPDR (State Street) 0.51% $14.3M $2.8B 2026-11-04
21 ITOT iShares Core S&P Total U.S. Stock Market ETF iShares (BlackRock) 0.01% $11.5M $92.8B 2026-11-04
22 PSC Principal U.S. Small-Cap ETF Nport 0.45% $10.5M — 2026-06-30
23 DFAC Dimensional US Core Equity 2 ETF Dimensional 0.01% $10.2M — 2026-11-04
24 FXH First Trust Health Care AlphaDEX® Fund First Trust 0.82% $9.9M $1.2B 2026-11-04
25 IVOG Vanguard S&P Mid-Cap 400 Growth ETF Vanguard 0.52% $9.6M — 2026-09-30
Fundamentals

Quarterly filings sourced from SEC 10-Q / 10-K reports. TTM tiles aggregate the most recent four quarters; bars show the last ~12 quarters oldest → newest.

Metrics
  • Revenue — top-line sales. Look for consistent YoY growth; seasonal businesses need same-quarter comparisons (Q4 '24 vs Q4 '23).
  • Net Income — bottom-line profit after all expenses. Can be volatile from one-time items; red bars = net loss.
  • Diluted EPS — net income per share assuming options/converts are exercised. Direct input to the P/E ratio.
  • Operating Cash Flow — cash generated from core operations, before capex and financing. Harder to manipulate than net income; growing OCF is a quality signal.
How to read the bars
  • Sequential growth — quarter-over-quarter trend. Accelerating bars are a momentum signal.
  • YoY growth — compare to the same quarter a year earlier to remove seasonality.
  • Quality — OCF should roughly track Net Income over time. Large divergence (net income ≫ OCF) flags accruals risk.
  • Margins — scan the bar ratios: Net Income / Revenue tells you margin trend without needing a separate chart.

TTM (trailing-twelve-month) smooths seasonality and is used for the P/E calculation. Filings appear 30–90 days after the period closes.

Trailing P/E
—
TTM Diluted EPS
$-2.25
TTM Revenue
$669.50M
TTM Net Income
$-319.95M
TTM Op. Cash Flow
$-59.05M
Quarterly figures (12 quarters)
QuarterPeriod EndRevenueNet IncomeDiluted EPSOp. Cash Flow
Q3 '262026-06-30$75.25M$-194.28M$-1.36$-177.47M
Q2 '262026-03-31$73.74M$-132.73M$-0.93$84.44M
Q1 '262025-12-31$264.03M$30.81M$0.22$13.48M
Q4 '252025-09-30$256.47M$-23.75M$-0.18$20.49M
Q3 '252025-06-30$27.77M$-175.24M$-1.26$-154.72M
Q2 '252025-03-31$542.71M$370.44M$2.75$460.05M
Q1 '252024-12-31$2.50M$-173.09M$-1.39$-146.27M
Q4 '242024-09-30$0.00$-170.54M$-1.37$-137.22M
Q3 '242024-06-30—$-170.79M$-1.38$-115.42M
Q2 '242024-03-31—$-125.30M$-1.02$-92.38M
Q1 '242023-12-31$3.55M$-132.86M$-1.24$-117.84M
Q4 '232023-09-30$16.10M$-109.68M$-1.02$-25.93M
Q3 2026 • period ending 2026-06-30 • filed 2026-08-04
Valuation

Ratios derived from TTM financials and the current market price, sampled daily. History chart shows how expensive the stock is today relative to its own recent past.

Price Multiples
  • P/E — price / TTM earnings. Rough market rule: 10–15 value, 15–25 market, >30 growth/premium. Negative when earnings are negative.
  • P/B — price / book value. Useful for financials and asset-heavy names; meaningless for asset-light software.
  • P/S — price / TTM revenue. Useful when earnings are negative or noisy (early-stage growth).
  • EV/EBITDA — capital-structure-neutral. <10 cheap, 10–15 reasonable, >20 rich. Good for comparing across leverage profiles.
  • EV/Sales — like P/S but accounts for debt + cash. Compare within sector.
Profitability & Yields
  • ROE — return on equity. >15% strong, >25% exceptional. Caution: high leverage inflates ROE.
  • ROA — return on assets. Leverage-neutral; >5% solid, >10% exceptional.
  • Div Yield — annual dividend / price. Compare to 10Y Treasury; sustained yield >6% often signals distress.
  • FCF Yield — free cash flow / market cap. >5% is attractive; negative means burning cash.
Balance Sheet
  • Debt/Equity — leverage. <1 conservative, >2 aggressive. Sector-dependent (utilities naturally high, tech low).
  • Current Ratio — short-term liquidity. >1.5 comfortable, <1 raises short-term solvency flags.
Reading the history chart
  • Compare current level to the 3-year band: near the high end = relatively expensive; near the low = relatively cheap.
  • Multiples expanding while earnings are flat = sentiment-driven rally.
  • Multiples compressing while earnings grow = value coming from fundamentals.
P/E
—
P/B
17.40
P/S
12.12
EV/EBITDA
—
EV/Sales
13.26
ROE
-68.7%
ROA
-15.1%
Div Yield
0.00%
FCF Yield
-0.73%
Debt/Equity
1.77
Current Ratio
—
Market Cap
$8.11B
as of 2026-11-06
Short Interest & Float

Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.

Metric definitions
  • Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
  • SI % of Float — short interest / free float. The key crowding metric.
  • Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
  • Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
  • Free Float — shares available for public trading (total shares minus insider / restricted).
  • Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
  • SI % of Float < 5% — typical, no particular signal.
  • 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
  • 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
  • >30% — extreme; borrow is likely expensive and squeeze risk is material.
  • Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
  • Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
  • A sudden drop in SI after a rally may indicate a squeeze in progress.

Short interest is reported mid-month and end-of-month; short volume is daily.

Short Interest
10.96M
SI % of Float
8.08%
Days to Cover
5.36
Short Vol Ratio
67.6%
Free Float
135.70M
Float %
96.3%
Short interest 2026-10-15 • Short volume 2026-11-05 • Float 2026-08-24