KROS
Keros Therapeutics, Inc.Healthcare·Biotechnology
$11.25
$360M market cap
Revenue
$0.8M
Free Cash Flow
$-31.0M
Rev Growth
+0.0%
FCF Margin
-4126.1%
P/FCF
--
EV/FCF
--
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
Keros Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of novel treatments for patients suffering from hematological and musculoskeletal disorders with high unmet medical need. The company's lead protein therapeutic product candidate is KER-050, which is being developed for the treatment of low blood cell counts, or cytopenias, including anemia and thrombocytopenia in patients with myelodysplastic syndromes, and in patie
2-Year Price History
$11.19-76.1%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 0.4 | -25.5 | -25.9 | -23.7 | -3.5 | -3.6 | -0.1 | 281.5 | 16.3 | 37.9 | -108.0% | -- | -- |
| Act | 2025-Q4 | 0.4 | -28.9 | -29.3 | -23.5 | -27.3 | -27.4 | -0.1 | 287.4 | 16.9 | 37.9 | -96.2% | -- | -- |
Valuation & Metrics
Market Stats
Price$11.25
Market Cap$360M
Enterprise Value$95M
P/S Ratio478.7x
P/FCF--
EV/FCF--
FCF Margin (TTM)-4126.1%
FCF Yield-8.6%
Dividend Yield (TTM)--
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$0.8M
Net Income$-47.2M
Free Cash Flow$-31.0M
Revenue Growth (YoY)+0.0%
EBITDA Margin-7226.6%
Net Margin-6272.5%
FCF Margin-4126.1%
CapEx % of Revenue27.5%
SBC % of Revenue971.4%
ROIC-102.1%
WC Change % Rev431.9%
Interest Coverage--
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares1.4M
Days to Cover5.4
Change (vs Prior)+1.2%
Need at least 2 settlement dates for chart
Employees
Headcount163
Revenue / Employee$4,614
Gross Profit / Employee$2,141
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
38.7%(-56.0% YoY)
134 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
18.0%(-4.0% YoY)
9 filers
Vanguard, iShares, SPDR
Market makers
0.2%(-1.7% YoY)
6 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 |
|---|---|---|---|---|---|---|
| BlackRock, Inc.Passive | $26.6M | $53.78 | +$1.3M | −$4.1M | -0.2% | $5.69T |
| Nantahala Capital Management, LLC | $15.0M | $13.92 | +$11.0M | −$1.6M | -2.3% | $1.60B |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $9.2M | $11.04 | +$9.2M | +$9.2M | — | $4.04T |
| ORBIMED ADVISORS LLC | $8.4M | $27.63 | −$497K | −$2.9M | -8.2% | $4.38B |
| Qube Research & Technologies Ltd | $8.0M | $19.01 | −$651K | +$5.0M | +0.3% | $70.36B |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $7.8M | $15.09 | −$688K | +$7.8M | +0.4% | $23.79B |
| FEDERATED HERMES, INC. | $7.6M | $11.73 | +$381K | −$5.9M | -1.1% | $61.33B |
| VANGUARD PORTFOLIO MANAGEMENT LLCPassive | $7.5M | $11.04 | +$7.5M | +$7.5M | — | $1.91T |
| GEODE CAPITAL MANAGEMENT, LLCPassive | $7.5M | $38.22 | +$511K | −$1.4M | +2.3% | $1.61T |
| Madison Avenue Partners, LP | $6.9M | $13.37 | −$2.2M | +$6.9M | +2.7% | $2.25B |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $6.5M | $19.36 | −$8.2M | +$6.5M | +0.1% | $184.72B |
| STATE STREET CORPPassive | $6.2M | $41.84 | −$5.7M | −$8.2M | -0.2% | $2.89T |
| D. E. Shaw & Co., Inc. | $5.6M | $14.67 | −$2.7M | −$8.3M | -0.3% | $118.02B |
| RENAISSANCE TECHNOLOGIES LLC | $5.0M | $21.27 | −$1.5M | +$5.0M | +1.2% | $63.91B |
| CITADEL ADVISORS LLC | $4.5M | $34.26 | −$727K | +$2.4M | -0.4% | $138.22B |
| AQR CAPITAL MANAGEMENT LLC | $4.5M | $13.58 | +$2.5M | +$4.2M | -0.2% | $218.19B |
| TWO SIGMA INVESTMENTS, LP | $4.0M | $18.93 | +$501K | +$3.3M | -0.9% | $117.03B |
| DIMENSIONAL FUND ADVISORS LPPassive | $3.5M | $20.35 | +$2.9M | +$3.1M | -0.4% | $480.92B |
| Nuveen, LLC | $2.9M | $10.23 | +$2.2M | −$40.7M | +0.0% | $368.63B |
| Connor, Clark & Lunn Investment Management Ltd. | $2.8M | $13.77 | −$701K | +$1.4M | +0.6% | $43.38B |
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
-0.62%
avg per quarter
Holders (ex-self)
-0.62%
excl. this stock
Buyers (this Q)
-0.90%
38 buyers · $0.04B in
Sellers (this Q)
-0.23%
63 sellers · $0.15B out
alpha coverage: 91% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
-2.6%
how holders react when this stock falls
On quiet Qs
-19.5%
−10% to +10% baseline
On rallies (+10%+)
-8.0%
how they react when this stock rises
Holders' portfolio flow this Q
+3.3%
inflows — adds are organic
Sellers' portfolio flow this Q
+1.9%
Sellers grew AUM elsewhere — opinionated cut of this stock.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
-5.6%
Holder mid (any stock)
-5.2%
Holder rally (any stock)
-10.5%
Biggest decreases this quarter
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP−$8.2Mα+0.1STATE STREET CORP−$5.7Mα-0.2Weiss Asset Management LPexited−$5.2MGOLDMAN SACHS GROUP INC−$4.0Mα-0.2ALGERT GLOBAL LLCexited−$3.9MNOMURA HOLDINGS INCexited−$3.2MD. E. Shaw & Co., Inc.−$2.7Mα-0.3Madison Avenue Partners, LP−$2.2Mα+2.7RENAISSANCE TECHNOLOGIES LLC−$1.5Mα+1.2GSA CAPITAL PARTNERS LLPexited−$1.0M
New buyers this quarter
Top-5 holders · 32.7%
BlackRock, Inc.--
Nantahala Capital Management, LLC--
VANGUARD CAPITAL MANAGEMENT LLC--
ORBIMED ADVISORS LLC--
Qube Research & Technologies Ltd--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
FMR LLC33KALKEON CAPITAL MANAGEMENT LLC—ORBIMED ADVISORS LLC759KDarwin Global Management, Ltd.—Nuveen, LLC262KPRICE T ROWE ASSOCIATES INC /MD/46KADAR1 Capital Management, LLC97KDeep Track Capital, LP—Point72 Asset Management, L.P.109KTCG Crossover Management, LLC—
Analyst Coverage
Analyst Coverage
Analyst Ratings
9
7
Buy: 9Hold: 7Consensus: Buy
Corporate
Insider Trading (last 12mo)
Open-market only (Form 4 P-Purchase + S-Sale). Excludes grants, option exercises, tax withholding, gifts.
Officers & directors
Buys ($, 12mo)
$45K
3 txns · 1 insider · 4,000 sh
Sells ($, 12mo)
$332K
4 txns · 4 insiders · 20,372 sh
Major holders (≥10% beneficial owners)
Buys ($, 12mo)
$0
0 txns · 0 insiders · 0 sh
Sells ($, 12mo)
$15.95M
2 txns · 2 insiders · 898,620 sh
Recent transactions
| Date | Side | Insider | Title | Shares | Price | Dollars | Owned $ |
|---|---|---|---|---|---|---|---|
| 2026-05-15 | BUY | BIENAIME JEAN JACQUES | director | 1,000 | $10.58 | $11K | $100K |
| 2026-04-15 | BUY | BIENAIME JEAN JACQUES | director | 1,000 | $11.70 | $12K | $99K |
| 2026-03-09 | BUY | BIENAIME JEAN JACQUES | director | 2,000 | $11.21 | $22K | $84K |
| 2026-02-19 | SELL | Seehra Jasbir | director, officer: CHIEF EXECUTIVE OFFICER | 7,015 | $16.17 | $113K | $6.24M |
| 2026-02-18 | SELL | Cho Esther | officer: SVP, General Counsel | 4,745 | $16.35 | $78K | $650K |
| 2026-02-18 | SELL | Lerner Lorena Raquel | officer: Chief Science Officer | 3,873 | $16.35 | $63K | $509K |
| 2026-02-18 | SELL | Regnante Keith | officer: CHIEF FINANCIAL OFFICER | 4,739 | $16.35 | $77K | $642K |
| 2025-10-15 | SELL | ADAR1 Capital Management, LLC | 10 percent owner | 743,358 | $17.75 | $13.19M | $0 |
| 2025-10-15 | SELL | Pontifax Management 4 G.P. (2015) Ltd. | 10 percent owner | 155,262 | $17.75 | $2.76M | $0 |
Order Flow (FINRA, ~3w lag)
11.5%retail-2.4pp
17.7%dark-1.0pp
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
Keros Therapeutics: Capital Return Cannibalism in Clinical Stage
Overall Risk
7/10
Fraud
3/10
Dilution
5/10
Insolvency
6/10
Earnings Overstated
4/10
Hidden Liabilities
3/10
Legal
6/10
Audit Warnings
5/10
Hidden Upside
4/10
Contextually Acceptable
3/10