Nautilus Biotechnology, Inc.
- Open
- 1.88
- Day high
- 1.91
- Day low
- 1.85
- Prev close
- 1.87
- Volume
- 889K
- Mkt cap
- $240M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 1.7
- P/S
- —
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$11.8M over the last 3 months (0 open-market buys, 2 sales)
- 🏛Institutions accumulating (13F)
Nautilus Biotechnology, Inc. (NAUT) is a Healthcare company listed on NASDAQ. The stock is up 156% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 2 sales (SEC Form 4).
Nautilus Biotechnology, Inc. (NAUT) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
NAUT earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 28, 2026 | $-0.14 | $-0.12 | +17.2% | — | — |
| Jul 31, 2025 | $-0.15 | $-0.12 | +22.6% | — | — |
| Feb 26, 2025 | $-0.16 | $-0.14 | +12.5% | $10M | — |
| Apr 30, 2024 | $-0.16 | $-0.15 | +6.3% | — | — |
| Feb 28, 2024 | $-0.16 | $-0.14 | +12.5% | $8M | — |
| Oct 31, 2023 | $-0.18 | $-0.13 | +27.8% | — | — |
| Aug 2, 2023 | $-0.17 | $-0.13 | +23.5% | — | — |
| May 2, 2023 | $-0.16 | $-0.12 | +25.0% | — | — |
| Feb 23, 2023 | $-0.15 | $-0.11 | +26.7% | — | — |
| Nov 1, 2022 | $-0.14 | $-0.11 | +21.4% | — | — |
| Aug 2, 2022 | $-0.17 | $-0.12 | +29.4% | — | — |
| May 3, 2022 | $-0.15 | $-0.13 | +13.3% | — | — |
NAUT insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 22, 2026 | Akinsanya Karendirector | Grant | 45,000 | $2.28 |
| Jun 22, 2026 | Epperly Melissa B,director | Grant | 45,000 | $2.28 |
| Jun 22, 2026 | McIlwain Matthew Sdirector | Grant | 45,000 | $2.28 |
| Jun 22, 2026 | NAZEM FARZADdirector | Grant | 45,000 | $2.28 |
| Jun 22, 2026 | Posard Matthew L.director | Grant | 45,000 | $2.28 |
| Jun 4, 2026 | AH Equity Partners Bio II, L.L.C.10 percent owner | Sell | 4,615,974 | $2.35 |
| Jun 4, 2026 | AH Equity Partners Bio II, L.L.C.10 percent owner | Sell | 384,026 | $2.35 |
| Mar 4, 2026 | Suzuki Kentaroofficer: Chief Marketing Officer | Grant | 160,000 | $2.32 |
| Mar 4, 2026 | Murphy Matthew B.officer: General Counsel | Grant | 160,000 | $2.32 |
| Mar 4, 2026 | Patel Sujal Mdirector, 10 percent owner, officer: CEO, President, and Secretary | Buy | 25,000 | $2.61 |
| Mar 4, 2026 | Mowry Annaofficer: CFO and Treasurer | Grant | 160,000 | $2.32 |
| Mar 4, 2026 | Mallick Paragdirector, 10 percent owner, officer: Chief Scientist | Grant | 280,000 | $2.32 |
| Mar 4, 2026 | Patel Sujal Mdirector, 10 percent owner, officer: CEO, President, and Secretary | Grant | 650,000 | $2.32 |
| Mar 4, 2026 | Sankar Subramanianofficer: Senior VP, Product Development | Grant | 160,000 | $2.32 |
| Mar 4, 2026 | Weld Gwen Eofficer: Chief People Officer | Grant | 160,000 | $2.32 |
Source: NAUT SEC Form 4 filings, latest Jun 22, 2026. For informational purposes only — not investment advice.
See the full NAUT insider & 13F page →Nautilus Biotechnology, Inc. company profile
Overview
Nautilus Biotechnology, Inc. (NASDAQ:NAUT) is a development-stage life sciences company founded in 2016 and headquartered in Seattle, Washington. The company went public in August 2020 and is focused on developing revolutionary proteomics technology to unlock the complexity of the human proteome - the complete set of proteins produced by an organism. Nautilus is creating a platform that promises to dramatically advance protein analysis capabilities, potentially transforming how researchers study diseases, develop drugs, and understand biological processes at the molecular level.
Business
Nautilus operates in the proteomics industry, which is a specialized segment of biotechnology focused on the large-scale study of proteins. While genomics (the study of DNA) has been revolutionized by technologies like DNA sequencing, proteomics has lagged behind due to technical challenges in analyzing proteins, which are far more complex and dynamic than genes. The company's core offering is the Nautilus Platform, a comprehensive proteomics solution that includes specialized instruments, consumables, and software analysis tools. This platform is designed to perform single-molecule protein detection, which means it can identify and quantify individual protein molecules rather than requiring large quantities of protein samples like traditional methods. The platform addresses two key market segments. First, broadscale discovery proteomics allows researchers to analyze thousands of proteins simultaneously from biological samples, providing a comprehensive view of protein expression in cells, tissues, or bodily fluids. Second, targeted proteoform detection focuses on analyzing specific protein variants, particularly targeting tau proteins associated with neurodegenerative diseases like Alzheimer's. Proteoforms are different versions of the same protein that result from genetic variations, chemical modifications, or processing changes, and they can have dramatically different biological functions despite originating from the same gene. The company's technology promises unprecedented sensitivity, dynamic range, and the ability to detect proteins at much lower concentrations than existing methods. This capability could enable new biomarker discovery, drug development insights, and diagnostic applications across various diseases.
Revenue model
Nautilus operates on a platform business model similar to other life sciences instrumentation companies. The company plans to generate revenue through multiple streams once it launches commercially in late 2026. The primary revenue source will be instrument sales, with management indicating that initial instrument deals are expected to be priced around $1 million per unit. Additionally, the company will generate recurring revenue from consumables - the specialized reagents, chips, and other materials required to run experiments on the platform. Sample processing costs are expected to start at several thousand dollars per sample, though management anticipates these costs will decrease over time as the platform scales. The company's target customers include pharmaceutical companies conducting drug discovery and development, academic research institutions studying protein biology and disease mechanisms, and potentially clinical laboratories for diagnostic applications in the future. Nautilus is actively pursuing partnerships with major pharmaceutical companies and has existing collaborations with Genentech and Amgen. Several factors could significantly impact Nautilus's margins and commercial success. Positive margin drivers include the achievement of manufacturing scale economies as production volumes increase, successful partnerships that could provide upfront payments or milestone revenues, and the platform's potential to command premium pricing due to its unique capabilities. The company's ability to reduce consumable costs through improved manufacturing processes and reagent optimization could also enhance profitability. Negative margin pressures include the high costs associated with developing and manufacturing complex biotechnology instruments, the need for extensive customer support and training, and potential pricing pressure from competitors as the proteomics market evolves. The company also faces risks from supply chain disruptions, particularly for specialized electronic components and biological reagents, and the challenge of scaling manufacturing while maintaining quality standards.
Competitive moat
Nautilus's competitive moat appears to be primarily technological but remains largely unproven in the commercial market. The company's core advantage lies in its proprietary single-molecule protein detection technology, which management claims offers superior sensitivity and dynamic range compared to existing proteomics platforms. The ability to analyze intact proteins and detect specific proteoforms represents a potentially significant technical differentiation, particularly in the emerging field of proteoform analysis where few competitors have demonstrated comparable capabilities. However, the strength of this moat is questionable given the company's pre-commercial stage. Nautilus faces competition from established players like Thermo Fisher Scientific, Waters Corporation, and emerging companies developing next-generation proteomics technologies. The proteomics market has historically been challenging, with many promising technologies failing to achieve commercial success due to complexity, cost, or performance limitations. The company's intellectual property portfolio and the technical expertise of its team provide some defensive positioning, but these advantages could be eroded by well-funded competitors with greater resources and established customer relationships. Additionally, the long development timeline (platform launch has been delayed multiple times) suggests that the technical challenges may be more significant than initially anticipated. The ultimate test of Nautilus's moat will be its ability to demonstrate clear performance advantages that justify premium pricing and drive customer adoption once the platform launches commercially. Until then, the company's competitive position remains largely theoretical and subject to execution risk.
Risks & safety
Nautilus presents a moderate to high-risk profile typical of pre-revenue biotechnology companies, with some mitigating factors related to its cash position. • Cash burn and solvency: The company burned approximately $61 million in free cash flow during 2024, with quarterly burn rates around $14-16 million. With $193 million in cash as of Q1 2025, management projects the cash runway extends through 2027, providing approximately 3+ years of operating runway at current burn rates. • Debt levels: Minimal debt with debt-to-equity ratio of 0.15, indicating low financial leverage and reduced solvency risk from debt obligations. • Valuation metrics: Trading at 0.55x price-to-book ratio and negative earnings multiples due to pre-revenue status. The company's enterprise value reflects significant skepticism about commercial prospects given the repeated delays in platform launch. • Other considerations: The company has reduced headcount by 16% to extend cash runway, demonstrating management's focus on capital preservation. Current ratio of 17.4x indicates strong short-term liquidity. However, the company remains entirely dependent on successful platform commercialization for future viability, with no current revenue streams to offset operating expenses.
Recent development
Over the past few years, Nautilus has undergone significant strategic evolution while facing multiple development challenges. The company has repeatedly pushed back its commercial launch timeline, initially targeting 2024, then 2025, and now projecting late 2026 for platform availability. This reflects the complexity of developing single-molecule protein detection technology and the company's commitment to delivering a high-quality product rather than rushing to market. A key strategic pivot has been the focus on proteoform analysis, particularly targeting tau proteins associated with neurodegenerative diseases. The company has successfully demonstrated the ability to quantify 32 distinct tau proteoforms and completed verification and validation studies showing median percent error of 10% with reproducibility exceeding targets. This capability represents a potentially significant competitive advantage, as few existing platforms can perform comprehensive proteoform analysis. Nautilus has also refined its go-to-market strategy, planning to launch with both broadscale discovery proteomics and targeted proteoform detection capabilities. The company is actively pursuing partnerships, with management indicating that the first partnership will likely be in the academic or nonprofit sector during the first half of 2025. These partnerships are intended to demonstrate platform capabilities and generate scientific validation rather than immediate revenue. On the operational front, the company has made substantial progress in manufacturing scalability, developing consistent processes for flow cell and chip production, improving reagent manufacturing, and creating software for data processing. However, challenges remain in affinity probe development, where success rates need improvement to achieve the goal of decoding 500-2,000 proteins from complex biological samples. To preserve capital and extend its runway, Nautilus reduced its workforce by 16% and implemented disciplined financial management practices. The company has also strengthened its intellectual property position and supply chain preparedness, including securing multiple suppliers for critical components.
NAUT company profile · for informational purposes only — not investment advice.
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