NextCure, Inc. (NXTC)

Distributing

Strong institutional distribution: ownership decreased -10.75% quarter-over-quarter.

Data as of Q1 2026

Institutional Ownership

60.06%

QoQ Change

-10.75%

Total Value

$22.8B

Shares Outstanding

3.6M

Crowding AnalysisCrowded

Holders26of 5,944

Avg: 68

Uncrowded77th percentileCrowded

Institutional Activity

Buy/Sell Ratio1.11x

46th percentile

10 buying9 selling

New

-5

Closed

+272K

Net shares

Holding Period Distribution

estimate

Median: 2 QAvg: 2.1 QHolders: 26

Ownership Concentration

Top 5: 52.7%Top 10: 84.4%

Squadron Capital Management12.2%

Affinity Asset Advisors,11.2%

Ikarian Capital,11.0%

Sofinnova Investments,10.3%

SILVERARC CAPITAL MANAGEMENT,8.1%

Others (21)47.3%

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Conviction-Weighted Ownership

Median weight: 0.20%Avg weight: 0.33%Max: 1.04%High conviction (>1%): 1

Squadron Capital Management

Affinity Asset Advisors,

Ikarian Capital,

Sofinnova Investments,

SILVERARC CAPITAL MANAGEMENT,

VANGUARD CAPITAL MANAGEMENT

PFIZER

Opaleye Management

AWM Investment Company,

Exome Asset Management

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Whale Moves Timeline (2 Quarters)

Biggest dollar-value position changes among top 10 holders

NEWVANGUARD CAPITAL MANAGEMENT$2M160K shr

NEWOpaleye Management$2M141K shr

SOLDExome Asset Management$521K50K shr

BOUGHTSquadron Capital Management$299K28K shr

SOLDAffinity Asset Advisors$58K5K shr

NEWIkarian Capital$3M238K shr

NEWSquadron Capital Management$3M237K shr

NEWSILVERARC CAPITAL MANAGEMENT$2M176K shr

NEWExome Asset Management$2M165K shr

NEWAWM Investment Company$2M117K shr

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Institutional Holders

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