BIOA
BioAge Labs, Inc.Healthcare·Biotechnology
$17.29
$651M market cap
Revenue
$5.8M
Free Cash Flow
$-52.4M
Rev Growth
+0.0%
FCF Margin
-896.3%
P/FCF
--
EV/FCF
--
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
BioAge Labs, Inc. is a clinical-stage biopharmaceutical company that develops therapeutic product candidates for metabolic diseases. The company's technology platform and differentiated human datasets allows users to identify targets based on insights into molecular changes that drive aging. Its product includes azelaprag, an orally available small molecule that is in phase 1 clinical trial for the treatment of obesity; and initiated phase 2 clinical trial of azelaprag in combination with tirzep
2-Year Price History
$16.61-20.9%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 2.8 | -25.3 | -25.4 | -22.3 | -24.1 | -24.1 | -0.0 | 383.2 | 4.0 | 42.5 | -51.2% | -649.0x | -- |
| Act | 2025-Q4 | 3.1 | -25.8 | -28.4 | -25.9 | -28.3 | -28.4 | -0.1 | 281.1 | 5.6 | 36.1 | -121.0% | -280.2x | -- |
Valuation & Metrics
Market Stats
Price$17.29
Market Cap$651M
Enterprise Value$272M
P/S Ratio111.3x
P/FCF--
EV/FCF--
FCF Margin (TTM)-896.3%
FCF Yield-8.1%
Dividend Yield (TTM)--
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$5.8M
Net Income$-48.2M
Free Cash Flow$-52.4M
Revenue Growth (YoY)+0.0%
EBITDA Margin-873.4%
Net Margin-823.9%
FCF Margin-896.3%
CapEx % of Revenue2.4%
SBC % of Revenue46.5%
ROIC-86.1%
WC Change % Rev7.7%
Interest Coverage-390.0x
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares1.9M
Days to Cover4.4
Change (vs Prior)+8.0%
Need at least 2 settlement dates for chart
Employees
Headcount62
Revenue / Employee$94,355
Gross Profit / Employee$93,339
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
78.0%(+67.0% YoY)
132 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
17.2%(+16.0% YoY)
9 filers
Vanguard, iShares, SPDR
Market makers
0.2%(+0.2% YoY)
3 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| a16z Capital Management, L.L.C. | $56.5M | $19.78 | +$0 | +$0 | +1.4% | $1.29B |
| Cormorant Asset Management, LLC | $50.6M | $15.68 | +$14.9M | +$4.6M | -2.3% | $1.95B |
| Sofinnova Investments, Inc. | $40.1M | $20.80 | +$0 | −$194K | +2.7% | $1.94B |
| BlackRock, Inc.Passive | $39.7M | $9.99 | +$12.9M | +$27.1M | -0.2% | $5.69T |
| JANUS HENDERSON GROUP PLC | $36.6M | $16.66 | +$29.5M | +$36.6M | +1.2% | $209.29B |
| Octagon Capital Advisors LP | $30.6M | $13.60 | +$2.6M | +$30.6M | +0.9% | $904M |
| RA CAPITAL MANAGEMENT, L.P. | $28.9M | $20.10 | +$10.5M | +$10.5M | -4.4% | $9.44B |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $23.7M | $17.49 | +$23.7M | +$23.7M | — | $4.04T |
| BALYASNY ASSET MANAGEMENT LLC | $23.2M | $17.79 | +$21.1M | +$23.2M | -0.4% | $48.01B |
| BRAIDWELL LP | $21.0M | $17.49 | +$21.0M | +$21.0M | -1.8% | $2.63B |
| Polar Capital Holdings Plc | $19.8M | $17.49 | +$19.8M | +$19.8M | +1.5% | $22.76B |
| STATE STREET CORPPassive | $14.9M | $13.40 | +$7.5M | +$13.0M | -0.2% | $2.89T |
| Sands Capital Alternatives, LLC | $13.8M | $20.80 | +$0 | +$0 | -3.1% | $421M |
| GEODE CAPITAL MANAGEMENT, LLCPassive | $13.1M | $8.11 | +$2.8M | +$8.2M | +2.3% | $1.61T |
| ORBIMED ADVISORS LLC | $12.4M | $20.80 | −$1.4M | −$3.7M | -8.1% | $4.38B |
| D. E. Shaw & Co., Inc. | $12.2M | $14.15 | +$6.3M | +$12.2M | -0.3% | $118.02B |
| Pivotal bioVenture Partners Investment Advisor LLC | $11.4M | $17.91 | +$0 | +$0 | +2.0% | $280M |
| Cosmic Management, LLC | $8.8M | $13.23 | +$0 | +$8.8M | -27.6% | $229M |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $8.7M | $13.23 | −$9.6M | +$8.7M | -0.1% | $64.61B |
| MILLENNIUM MANAGEMENT LLC | $7.5M | $13.14 | +$3.5M | +$7.5M | -0.5% | $127.40B |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)BEARISH
Holders
-0.82%
avg per quarter
Holders (ex-self)
-0.83%
excl. this stock
Buyers (this Q)
-0.61%
92 buyers · $0.29B in
Sellers (this Q)
+0.03%
30 sellers · $0.03B out
alpha coverage: 94% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
-24.1%
how holders react when this stock falls
On quiet Qs
+33.2%
−10% to +10% baseline
On rallies (+10%+)
-1.3%
how they react when this stock rises
Holders' portfolio flow this Q
-0.4%
outflows — trims may be forced
Sellers' portfolio flow this Q
+5.6%
Sellers grew AUM elsewhere — opinionated cut of this stock.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
-5.4%
Holder mid (any stock)
-3.3%
Holder rally (any stock)
-8.7%
Biggest decreases this quarter
ADAGE CAPITAL PARTNERS GP, L.L.C.−$9.6Mα-0.1Redpoint Management, LLCexited−$5.1MCITADEL ADVISORS LLCexited−$3.1MORBIMED ADVISORS LLC−$1.4Mα-8.1NANO CAP NEW MILLENNIUM GROWTH FUND L Pexited−$1.1MSchonfeld Strategic Advisors LLCexited−$680KPoint72 Asset Management, L.P.exited−$545KWoodline Partners LPexited−$418KOCCUDO QUANTITATIVE STRATEGIES LPexited−$235KQuadrature Capital Ltdexited−$222K
New buyers this quarter
Top-5 holders · 37.3%
a16z Capital Management, L.L.C.--
Cormorant Asset Management, LLC--
Sofinnova Investments, Inc.--
BlackRock, Inc.--
JANUS HENDERSON GROUP PLC--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
a16z Capital Management, L.L.C.3.2MCormorant Asset Management, LLC2.9MSofinnova Investments, Inc.2.3MRA CAPITAL MANAGEMENT, L.P.1.7MJANUS HENDERSON GROUP PLC2.1MOctagon Capital Advisors LP1.7MSUVRETTA CAPITAL MANAGEMENT, LLC—ORBIMED ADVISORS LLC712KBALYASNY ASSET MANAGEMENT LLC1.3MSands Capital Alternatives, LLC786K
Analyst Coverage
Analyst Coverage
Price Targets
Last Quarter (2 analysts)$45.0016030.0%
Last Year (5 analysts)$37.4011630.0%
Current Price$17.29
Analyst Ratings
2
1
Buy: 2Hold: 1Consensus: Buy
Corporate
Insider Trading (last 12mo)
Open-market only (Form 4 P-Purchase + S-Sale). Excludes grants, option exercises, tax withholding, gifts.
Officers & directors
Buys ($, 12mo)
$0
0 txns · 0 insiders · 0 sh
Sells ($, 12mo)
$6.22M
8 txns · 3 insiders · 378,123 sh
Recent transactions
| Date | Side | Insider | Title | Shares | Price | Dollars | Owned $ |
|---|---|---|---|---|---|---|---|
| 2026-04-01 | SELL | RUBIN PAUL D | officer: Chief Medical Officer | 8,820 | $17.81 | $157K | $0 |
| 2026-03-02 | SELL | RUBIN PAUL D | officer: Chief Medical Officer | 7,433 | $20.30 | $151K | $0 |
| 2026-02-02 | SELL | RUBIN PAUL D | officer: Chief Medical Officer | 7,433 | $18.75 | $139K | $0 |
| 2026-01-13 | SELL | Fortney Kristen | director, officer: Chief Executive Officer | 233,107 | $18.12 | $4.22M | $17.70M |
| 2026-01-13 | SELL | GOLDSTEIN DOV A MD | officer: Chief Financial Officer | 27,000 | $19.70 | $532K | $441K |
| 2026-01-02 | SELL | RUBIN PAUL D | officer: Chief Medical Officer | 7,433 | $12.85 | $95K | $0 |
| 2025-12-09 | SELL | RUBIN PAUL D | officer: Chief Medical Officer | 18,000 | $12.00 | $216K | $0 |
| 2025-12-04 | SELL | RUBIN PAUL D | officer: Chief Medical Officer | 68,897 | $10.19 | $702K | $0 |
Order Flow (FINRA, ~3w lag)
13.0%retail-3.0pp
24.1%dark+4.0pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
BioAge Labs, Inc.: Immediate Post-IPO Litigation and Aggressive Dilution Signals
Overall Risk
7/10
Fraud
4/10
Dilution
8/10
Insolvency
3/10
Earnings Overstated
4/10
Hidden Liabilities
5/10
Legal
8/10
Audit Warnings
2/10
Hidden Upside
6/10
Contextually Acceptable
4/10