Who holds it, who is betting against it, and where the big money is moving
Net of large-order buying minus selling, in USD. Over this window: −$787.4K (10 inflow days, 10 outflow days).
Super/Big orders approximate institutional-size trades; Mid/Small approximate retail-size trades. Net buy minus sell value in each bucket, summed over the window.
The five largest holders on file together own 45.1% of shares outstanding.
Reported short interest has fallen from 18.56% to 15.95% of float over the last 6 biweekly reports (30 Jun 2026 to 15 Sep 2026).
| Holder | Type | Period | Share change | New stake |
|---|---|---|---|---|
| Nuveen Asset Management LLC | Insurance Company | 2026/Q3 | +204,678 | 0.2% |
| RTW Investments, LP | Hedge Fund | 2026/Q3 | +3,892,926 | 3.6% |
| FMR | Mutual Fund | 2026/Q3 | +3,269,441 | 6.4% |
| State Street Global Advisors | Mutual Fund | 2026/Q3 | +3,049,878 | 3.9% |
| RA Capital Management, L.P. | VC/PE Fund | 2026/Q3 | +2,696,148 | 11.2% |
| BlackRock | Mutual Fund | 2026/Q3 | +1,975,894 | 6.5% |
| Vanguard Capital Management, LLC | Mutual Fund | 2026/Q3 | +1,504,049 | 4.2% |
| Franklin Resources | Mutual Fund | 2026/Q3 | +1,247,771 | 3.2% |
| Armistice Capital LLC | Hedge Fund | 2026/Q3 | +1,078,000 | 4.0% |
| Silverarc Capital Management, LLC | Hedge Fund | 2026/Q3 | +668,450 | 0.6% |
| Geode Capital Management, LLC | Mutual Fund | 2026/Q3 | +644,840 | 1.8% |
| The Goldman Sachs Group, Inc. | Public Company | 2026/Q3 | +541,670 | 1.3% |
| Vanguard Portfolio Management, LLC | Mutual Fund | 2026/Q3 | +409,959 | 0.7% |
| Dimensional Fund Advisors | Mutual Fund | 2026/Q3 | +310,155 | 1.2% |
| Moore Capital Management, LP | Hedge Fund | 2026/Q3 | +278,723 | 0.6% |
Institutional buy/sell activity by reporting period, largest moves first.
| Date | Insider | Title | Transaction | Shares | Price | Held after |
|---|---|---|---|---|---|---|
| 1 Oct 2026 | Ian Smith | Executive Chairperson | Derivative Exercise and Retained | +3,440 | – | 141,585 |
| 1 Jul 2026 | Ian Smith | Executive Chairperson | Derivative Exercise and Retained | +3,440 | – | 138,145 |
| 21 Jun 2026 | RA Capital Management, L.P. | Initial Statement of Beneficial | +0 | – | 12,036,126 | |
| 9 Jun 2026 | Ian Smith | Executive Chairperson | Other Derivative Acquisition | +77,500 | $6.61 | 77,500 |
| 9 Jun 2026 | Perceptive Advisors LLC | Other Derivative Acquisition | +77,500 | $6.61 | 77,500 | |
| 9 Jun 2026 | Martin Freed | Independent Director | Other Derivative Acquisition | +77,500 | $6.61 | 77,500 |
| 9 Jun 2026 | Sukumar Nagendran | Independent Director | Other Derivative Acquisition | +77,500 | $6.61 | 77,500 |
| 9 Jun 2026 | Ilan Ganot | Co-founder, Strategic Advisor to the CEO & Director | Other Derivative Acquisition | +77,500 | $6.61 | 77,500 |
| 9 Jun 2026 | Adam Stone | Lead Independent Director | Other Derivative Acquisition | +77,500 | $6.61 | 77,500 |
| 9 Jun 2026 | Lynne Sullivan | Independent Director | Other Derivative Acquisition | +77,500 | $6.61 | 77,500 |
| 9 Jun 2026 | Georgia Keresty | Independent Director | Other Derivative Acquisition | +77,500 | $6.61 | 77,500 |
| 9 Jun 2026 | G. Kahn | Independent Director | Other Derivative Acquisition | +77,500 | $6.61 | 77,500 |
| 1 Apr 2026 | Ian Smith | Executive Chairperson | Derivative Exercise and Retained | +3,441 | – | 134,705 |
| 8 Mar 2026 | Joseph Edelman | Other Derivative Acquisition | +8,912,655 | $0.00 | 8,912,655 | |
| 17 Feb 2026 | David Howton | COO & Secretary | Intent to Sell (Form 144) | -7,469 | $5.82 | – |
| 17 Feb 2026 | Ilan Ganot | Co-founder, Strategic Advisor to the CEO & Director | Intent to Sell (Form 144) | -2,658 | $5.92 | – |
| 17 Feb 2026 | Alexander Cumbo | Chief Executive Officer | Intent to Sell (Form 144) | -16,644 | $5.82 | – |
| 17 Feb 2026 | Paul Herzich | Chief Technology Officer | Intent to Sell (Form 144) | -3,616 | $5.82 | – |
| 17 Feb 2026 | Kevin Tan | Chief Financial Officer | Intent to Sell (Form 144) | -5,404 | $5.82 | – |
| 17 Feb 2026 | Jessie Hanrahan | Chief Regulatory Officer | Intent to Sell (Form 144) | -4,134 | $5.82 | – |
From Form 4/Form 144 filings. Negative share counts are disposals (sales, gifts, or shares withheld for taxes); positive are acquisitions.
| Report date | Shares short | % of float | Days to cover |
|---|---|---|---|
| 15 Sep 2026 | 17,106,152 | 16.0% | 19.6 |
| 31 Aug 2026 | 16,384,018 | 15.3% | 18.9 |
| 14 Aug 2026 | 16,619,915 | 15.5% | 19.6 |
| 31 Jul 2026 | 17,036,347 | 17.3% | 16.2 |
| 15 Jul 2026 | 17,667,300 | 17.9% | 11.2 |
| 30 Jun 2026 | 18,268,655 | 18.6% | 4.6 |
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