RARE close: $37.0 on 2023-08-21 to $26.2 on 2026-08-19.
Split-adj closes · 240 of 3,154 · price returnⓘ
At a glance
Short interest15.2% of sh out
Days to cover8.3d
13F net flow (QoQ)+7.29%
Top-10 13F concentration42.3%
Next report (est.)2026-11-03
SI 2026-07-31 · 13F 2026-Q1ⓘ
Key fundamentalsFY 2025
Sales (TTM)$717.0M
Earnings (TTM)-$586.0M
Net margin−85.4%
Sales growth 3Y22.8%
FY ratios · TTM sales/earnings (USD)ⓘ
Trailing returns
YTD+14.1%
1Y−9.9%
3Y−29.0%
5Y−66.3%
10Y−60.2%
Since incept. (ann.)−3.7%
Total return · from 2014-01-31ⓘ
Risk
Ann. volatility (1Y)68.1%
Ann. volatility (3Y)56.1%
Sharpe (1Y)0.21
Sharpe (3Y)0.13
Max drawdown (1Y)−49.4%
Max drawdown (3Y)−68.8%
Beta (3Y vs SPY)1.18
Daily returns, ann.ⓘ
Top institutional holders13F 2026-Q1
Manager
Shares
Value
% sh out
QoQ
BlackRock, Inc.
7.3M
$153M
7.55%
+10.1%
VANGUARD PORTFOLIO MANAGEMENT LLC
5.4M
$113M
5.57%
new
STATE STREET CORP
5.0M
$105M
5.20%
+16.7%
AQR CAPITAL MANAGEMENT LLC
4.6M
$96M
4.74%
+236.5%
VANGUARD CAPITAL MANAGEMENT LLC
4.2M
$88M
4.34%
new
RTW INVESTMENTS, LP
3.6M
$76M
3.78%
+21.6%
SANDS CAPITAL MANAGEMENT, LLC
3.2M
$67M
3.33%
−7.8%
Sofinnova Investments, Inc.
3.1M
$66M
3.26%
+3676.6%
Δ vs 2025-Q4 · Institutional 13F holdings sum to 101.5% of shares outstanding. Readings above 100% reflect securities-lending double counting: shares on loan to short sellers are reported long by both the lending institution and the one that bought them. FINRA short interest of 13,976,318 shares (settlement 2026-05-15) accounts for the excess.ⓘ
Latest reported quarterslast report 2026-08-04
Period end
Reported
EPS
EPS YoY
Revenue
Rev YoY
2026-06-30
2026-08-04
−$0.90
—
$214.0M
+28.1%
2026-03-31
2026-05-05
−$1.84
—
$136.0M
−2.2%
2025-12-31
2026-02-12
—
—
$207.1M
+25.8%
2025-09-30
2025-11-04
−$1.81
—
$159.9M
+14.7%
As-reported XBRL · next 2026-11-03 est.ⓘ
Segment mixFY2025 (ended Dec 2025)
North America 56% · Latin America 25% · EMEA 16% · Asia Pacific 3%
geographic · TAGGED revenueⓘ
Basis & disclosures
EOD closes · nothing imputed or averaged · absent “—”
As-of differs by block · 13F = US long, 45+d lag, LOWER bound
Not investment advice · no recommendation, price target or solicitation
EDGAR + foreign registers · marketstack (licensed EOD) · spzco.com/methodology
