AQSTNasdaqPharmaceutical PreparationsFiscal year ends December 31
Aquestive Therapeutics, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 11, 2026
$3.83+0.05 (+1.32%)
Close on Oct 19, 2026
- Market cap
- $478.73M
- P/E (TTM)
- –
- Dividend yield
- –
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
57.4%
72M of 126M shares
Institutional holders
185
24 new, 18 sold out
Net institutional buying
0M
In Q2 2026
Insider trades, 12 months
0 buys · 15 sales
Net sold $2.29M
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| Bass Edward P | 9,385,561 | 7.50% | 13G (passive) | Oct 7, 2026 |
| BlackRock, Inc. | 7,992,647 | 6.40% | 13G (passive) amendment | Jun 30, 2026 |
| Roderick Wong | 6,250,000 | 5.20% | 13G (passive) | Sep 30, 2025 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of AQST | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| Bratton Capital Management, L.P. | 9,810,958 | 7.82% | $40.81M | – | 100.00% |
| BlackRock, Inc. | 8,069,373 | 6.43% | $33.57M | +560,302 | 0.00% |
| Rtw Investments, LP | 7,426,471 | 5.92% | $30.89M | – | 0.26% |
| Vanguard Capital Management LLC | 4,584,533 | 3.65% | $19.07M | +140,835 | 0.00% |
| Federated Hermes, Inc. | 3,112,561 | 2.48% | $12.95M | +172,222 | 0.02% |
| State Street Corp | 2,928,020 | 2.33% | $12.18M | +381,829 | 0.00% |
| Geode Capital Management, LLC | 2,622,888 | 2.09% | $10.91M | +214,697 | 0.00% |
| Samsara BioCapital, LLC | 2,500,000 | 1.99% | $10.40M | – | 0.85% |
| Bank Of America Corp /De/ | 1,668,423 | 1.33% | $6.94M | −736,627 | 0.00% |
| Sio Capital Management, LLC | 1,486,175 | 1.18% | $6.18M | −436,712 | 1.02% |
| Propel Bio Management, LLC | 1,442,397 | 1.15% | $6.00M | +731,409 | 3.14% |
| Wasatch Advisors LP | 1,385,843 | 1.10% | $5.77M | +507,527 | 0.04% |
| Two Sigma Investments, LP | 1,281,227 | 1.02% | $5.33M | +141,823 | 0.00% |
| Nuveen, LLC | 1,215,225 | 0.97% | $5.06M | +961,760 | 0.00% |
| Janney Montgomery Scott LLC | 1,106,160 | 0.88% | $4.60K | +17,050 | 0.01% |
| Wells Fargo & Company/Mn | 1,089,037 | 0.87% | $4.53M | +54,393 | 0.00% |
| Commonwealth Equity Services, LLC | 1,046,175 | 0.83% | $4.35M | −36,505 | 0.01% |
| Barclays PLC | 996,665 | 0.79% | $4.15M | +197,502 | 0.00% |
| Blue Owl Capital Holdings LP | 942,932 | 0.75% | $3.92M | −405,000 | 0.59% |
| Northern Trust Corp | 831,151 | 0.66% | $3.46M | +98,647 | 0.00% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 185 | 72M | 57.4% | 24 / 70 | 44 / 18 | 8M | 7M |
| Q1 2026 | 180 | 72M | 57.3% | 49 / 56 | 47 / 45 | 19M | 14M |
| Q4 2025 | 178 | 72M | 57.6% | 47 / 68 | 38 / 21 | 15M | 9M |
| Q3 2025 | 152 | 67M | 53.0% | 48 / 51 | 33 / 11 | 25M | 6M |
| Q2 2025 | 116 | 48M | 38.2% | 15 / 52 | 27 / 19 | 8M | 4M |
| Q1 2025 | 121 | 44M | 35.3% | 28 / 47 | 28 / 19 | 10M | 9M |
| Q4 2024 | 114 | 43M | 34.6% | 21 / 45 | 34 / 22 | 4M | 8M |
| Q3 2024 | 117 | 47M | 37.3% | 38 / 40 | 23 / 17 | 13M | 3M |
| Q2 2024 | 98 | 43M | 33.9% | 32 / 31 | 23 / 31 | 12M | 11M |
| Q1 2024 | 97 | 42M | 33.3% | 51 / 23 | 14 / 9 | 24M | 5M |
| Q4 2023 | 57 | 24M | 19.0% | 15 / 17 | 13 / 5 | 3M | 2M |
| Q3 2023 | 47 | 23M | 18.2% | 6 / 12 | 13 / 13 | 5M | 1M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of AQST | Value | % of fund | As of |
|---|---|---|---|---|---|
| Vanguard Total Stock Market Index Fund | 3,403,709 | 2.71% | $14.16M | 0.00% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 2,818,547 | 2.25% | $11.73M | 0.01% | Jun 30, 2026 |
| Federated Hermes MDT Small Cap Core Fund | 1,389,112 | 1.11% | $5.13M | 0.23% | Jul 31, 2026 |
| Fidelity Small Cap Index Fund | 1,170,608 | 0.93% | $4.33M | 0.01% | Jul 31, 2026 |
| Vanguard Extended Market Index Fund | 1,077,727 | 0.86% | $4.48M | 0.00% | Jun 30, 2026 |
| State Street(R) SPDR(R) S&P(R) Pharmaceuticals ETF | 787,651 | 0.63% | $3.28M | 0.76% | Jun 30, 2026 |
| Bridge Builder Small/Mid Cap Growth Fund | 740,697 | 0.59% | $3.08M | 0.03% | Jun 30, 2026 |
| Nuveen Quant Small Cap Equity Fund | 732,970 | 0.58% | $2.71M | 0.07% | Jul 31, 2026 |
| Wasatch Ultra Growth Fund | 719,415 | 0.57% | $2.99M | 0.65% | Jun 30, 2026 |
| iShares Russell 2000 Value ETF | 642,672 | 0.51% | $2.67M | 0.02% | Jun 30, 2026 |
| Wasatch Micro Cap Fund | 642,475 | 0.51% | $2.67M | 0.40% | Jun 30, 2026 |
| Federated Hermes MDT Small Cap Growth Fund | 530,118 | 0.42% | $1.96M | 0.23% | Jul 31, 2026 |
| Vanguard Russell 2000 Index Fund | 524,896 | 0.42% | $2.11M | 0.01% | May 31, 2026 |
| Fidelity Extended Market Index Fund | 469,158 | 0.37% | $1.89M | 0.00% | May 31, 2026 |
| iShares Russell 2000 Growth ETF | 374,338 | 0.30% | $1.56M | 0.01% | Jun 30, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Daniel Barber | President and CEO, Director | 652,317 | 0.52% | Sep 16, 2026 |
| Sherry Korczynski | Chief Commercial Officer | 235,689 | 0.19% | Sep 11, 2026 |
| Peter E. Boyd | Chief People Officer | 284,024 | 0.23% | Sep 10, 2026 |
| Cassie Jung | Chief Operating Officer | 208,833 | 0.17% | Sep 8, 2026 |
| Thomas A. Zalewski | Chief Legal Officer | 100,000 | 0.08% | May 19, 2026 |
| Melina Cioffi | SVP, Regulatory Affairs | 273,200 | 0.22% | May 18, 2026 |
| Lori J. Braender | Corporate Secretary | 231,042 | 0.18% | May 11, 2026 |
| A. Ernest Toth Jr | Chief Financial Officer | 283,460 | 0.23% | May 7, 2026 |
| Matthew J. Greenhawt | Chief Medical Officer | 77,000 | 0.06% | Mar 11, 2026 |
| Matthew W. Davis | Chief Development Officer | 100,000 | 0.08% | Mar 11, 2026 |
| Carl N. Kraus | Chief Medical Officer | 282,475 | 0.23% | Oct 17, 2025 |
| Stephen Wargacki | Chief Science Officer | 343,552 | 0.27% | Mar 11, 2025 |
| Julie Krop | Director | 0 | – | Jun 24, 2026 |
| Timothy E. Morris | Director | – | – | Jun 12, 2026 |
| Gregory B. Brown | Director | 75,085 | 0.06% | Jun 12, 2026 |
| John Cochran | Director | 99,486 | 0.08% | Jun 12, 2026 |
| Abigail L. Jenkins | Director | 0 | – | Jun 12, 2026 |
| Marco Taglietti | Director | – | – | Jun 12, 2026 |
| Douglas K. Bratton | 10% owner | 262,204 | 0.21% | Dec 4, 2024 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Daniel Barber President and CEO, Director | Sep 15, 2026 | Sale(10b5-1 plan) | −25,000 | $4.82 | $120.50K | 652,317 |
| Sherry Korczynski Chief Commercial Officer | Sep 9, 2026 | Sale(10b5-1 plan) | −8,750 | $5.22 | $45.68K | 235,689 |
| Sherry Korczynski Chief Commercial Officer | Sep 9, 2026 | Option exercise | +8,750 | $2.65 | $23.19K | 244,439 |
| Peter E. Boyd Chief People Officer | Sep 9, 2026 | Option exercise | +2,293 | $0.96 | $2.20K | 284,024 |
| Daniel Barber President and CEO, Director | Sep 8, 2026 | Option exercise | +91,743 | $0.96 | $88.07K | 677,317 |
| Cassie Jung Chief Operating Officer | Sep 3, 2026 | Option exercise | +4,587 | $0.96 | $4.40K | 206,833 |
| Daniel Barber President and CEO, Director | Aug 17, 2026 | Sale(10b5-1 plan) | −25,000 | $4.29 | $107.25K | 585,574 |
| Sherry Korczynski Chief Commercial Officer | Aug 14, 2026 | Tax withholding | −2,714 | $4.25 | $11.53K | 235,689 |
| Daniel Barber President and CEO | Jul 16, 2026 | Sale(10b5-1 plan) | −20,369 | $4.00 | $81.48K | 610,574 |
| Daniel Barber President and CEO | Jul 15, 2026 | Sale(10b5-1 plan) | −4,631 | $4.03 | $18.66K | 630,943 |
| Julie Krop Director | Jun 23, 2026 | Sale(10b5-1 plan) | −25,000 | $5.02 | $125.50K | 0 |
| Julie Krop Director | Jun 23, 2026 | Option exercise | +25,000 | $0.71 | $17.75K | 25,000 |
| Daniel Barber President and CEO | Jun 15, 2026 | Sale(10b5-1 plan) | −25,000 | $4.16 | $104.00K | 635,574 |
| Sherry Korczynski Chief Commercial Officer | Jun 8, 2026 | Tax withholding | −2,714 | – | – | 238,403 |
| Thomas A. Zalewski Chief Legal Officer | May 18, 2026 | Award | +100,000 | – | – | 100,000 |
| Daniel Barber President and CEO | May 15, 2026 | Sale(10b5-1 plan) | −8,257 | $4.29 | $35.42K | 660,574 |
| Melina Cioffi SVP, Regulatory Affairs | May 15, 2026 | Tax withholding | −1,667 | $4.17 | $6.95K | 273,200 |
| Lori J. Braender Corporate Secretary | May 7, 2026 | Tax withholding | −135,690 | $4.23 | $573.97K | 231,042 |
| A. Ernest Toth Jr Chief Financial Officer | May 5, 2026 | Tax withholding | −92,652 | $4.18 | $387.29K | 283,460 |
| Lori J. Braender Corporate Secretary | May 5, 2026 | Tax withholding | −76,147 | $4.18 | $318.29K | 366,732 |
| Peter E. Boyd Chief People Officer | May 5, 2026 | Tax withholding | −56,778 | $4.18 | $237.33K | 281,731 |
| Cassie Jung Chief Operating Officer | May 5, 2026 | Tax withholding | −72,734 | $4.18 | $304.03K | 202,246 |
| Daniel Barber President and CEO | May 5, 2026 | Tax withholding | −335,922 | $4.18 | $1.40M | 668,831 |
| Daniel Barber President and CEO | Mar 10, 2026 | Sale | −180,677 | $4.17 | $753.42K | 1,004,753 |
| Cassie Jung Chief Operating Officer | Mar 10, 2026 | Sale | −45,791 | $4.17 | $190.95K | 274,980 |
| Lori J. Braender Chief Legal Officer | Mar 10, 2026 | Sale | −40,102 | $4.17 | $167.23K | 442,879 |
| A. Ernest Toth Jr Chief Financial Officer | Mar 10, 2026 | Sale | −58,254 | $4.17 | $242.92K | 376,112 |
| Peter E. Boyd Chief People Officer | Mar 10, 2026 | Sale | −29,814 | $4.17 | $124.32K | 338,509 |
| Sherry Korczynski Chief Commercial Officer | Mar 10, 2026 | Sale | −15,741 | $4.17 | $65.64K | 241,117 |
| Melina Cioffi SVP, Regulatory Affairs | Mar 10, 2026 | Sale | −25,311 | $4.17 | $105.55K | 274,867 |
| Daniel Barber President and CEO | Mar 9, 2026 | Award | +262,000 | – | – | 1,185,430 |
| Cassie Jung Chief Operating Officer | Mar 9, 2026 | Award | +80,000 | – | – | 320,771 |
| Lori J. Braender Chief Legal Officer | Mar 9, 2026 | Award | +80,000 | – | – | 482,981 |
| A. Ernest Toth Jr Chief Financial Officer | Mar 9, 2026 | Award | +95,000 | – | – | 434,366 |
| Peter E. Boyd Chief People Officer | Mar 9, 2026 | Award | +80,000 | – | – | 368,323 |
| Matthew W. Davis Chief Development Officer | Mar 9, 2026 | Award | +50,000 | – | – | 100,000 |
| Sherry Korczynski Chief Commercial Officer | Mar 9, 2026 | Award | +75,000 | – | – | 256,858 |
| Melina Cioffi SVP, Regulatory Affairs | Mar 9, 2026 | Award | +100,000 | – | – | 300,178 |
| Matthew J. Greenhawt Chief Medical Officer | Mar 9, 2026 | Award | +75,000 | – | – | 75,000 |
| Peter E. Boyd Chief People Officer | Dec 4, 2025 | Award | +20,000 | – | – | 288,323 |
| Melina Cioffi SVP, Regulatory Affairs | Dec 2, 2025 | Tax withholding | −2,083 | $5.93 | $12.35K | 200,178 |
| Matthew W. Davis Chief Development Officer | Nov 10, 2025 | Award | +50,000 | – | – | 50,000 |
| Cassie Jung Chief Operating Officer | Oct 15, 2025 | Option exercise | +25,000 | $3.10 | $77.50K | 308,346 |
| Cassie Jung Chief Operating Officer | Oct 15, 2025 | Sale(10b5-1 plan) | −67,575 | $7.01 | $473.70K | 240,771 |
| Peter E. Boyd See Remarks | Oct 15, 2025 | Sale(10b5-1 plan) | −10,000 | $7.00 | $70.00K | 268,323 |
| Carl N. Kraus Chief Medical Officer | Oct 15, 2025 | Sale(10b5-1 plan) | −20,272 | $7.00 | $141.90K | 282,475 |
| Daniel Barber President and CEO, Director | Sep 26, 2025 | Sale(10b5-1 plan) | −91,343 | $6.03 | $550.80K | 923,430 |
| Peter E. Boyd See Remarks | Sep 26, 2025 | Sale(10b5-1 plan) | −10,000 | $6.30 | $63.00K | 278,323 |
| Daniel Barber President and CEO, Director | Sep 19, 2025 | Sale(10b5-1 plan) | −400 | $6.00 | $2.40K | 1,014,773 |
| Peter E. Boyd See Remarks | Sep 5, 2025 | Sale(10b5-1 plan) | −15,000 | $5.30 | $79.50K | 288,323 |
| Cassie Jung Chief Operating Officer | Sep 4, 2025 | Option exercise | +25,000 | $0.71 | $17.75K | 345,526 |
| Cassie Jung Chief Operating Officer | Sep 4, 2025 | Sale(10b5-1 plan) | −62,180 | $5.00 | $310.90K | 283,346 |
| Cassie Jung Chief Operating Officer | Sep 4, 2025 | Option exercise | +25,000 | $3.15 | $78.75K | 320,526 |
| Sherry Korczynski Chief Commercial Officer | Aug 14, 2025 | Award | +25,000 | – | – | 181,858 |
| Carl N. Kraus Chief Medical Officer | Aug 9, 2025 | Tax withholding | −10,819 | $3.90 | $42.19K | 302,747 |
| Sherry Korczynski SVP Sales and Marketing | Jun 9, 2025 | Tax withholding | −2,714 | $3.54 | $9.61K | 156,858 |
| Melina Cioffi SVP, Regulatory Affairs | May 15, 2025 | Award | +20,000 | – | – | 202,261 |
| Stephen Wargacki Chief Science Officer | Mar 10, 2025 | Tax withholding | −4,572 | $2.54 | $11.61K | 343,552 |
| Cassie Jung Chief Operating Officer | Mar 10, 2025 | Tax withholding | −2,182 | $2.54 | $5.54K | 295,526 |
| Daniel Barber President and CEO | Mar 9, 2025 | Tax withholding | −53,998 | $2.65 | $143.09K | 1,015,173 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Barber Daniel Director, Officer | Sep 15, 2026 | 50,000 | $244.00K | Sep 15, 2026 | Restricted Stock Units |
| M. Korczynski Sherry Officer | Sep 9, 2026 | 8,750 | $45.59K | Sep 9, 2026 | Exercise of Stock Options |
| Barber Daniel Officer | Aug 17, 2026 | 25,000 | $106.25K | Aug 17, 2026 | Restricted Stock Units |
| Barber Daniel Officer | Jul 15, 2026 | 25,000 | $101.00K | Jul 15, 2026 | Restricted Stock Units |
| Krop Julie Director | Jun 23, 2026 | 25,000 | $118.00K | Jun 23, 2026 | Exercise of Stock Options |
| Barber Daniel Officer | Jun 15, 2026 | 25,000 | $104.25K | Jun 15, 2026 | Restricted Stock Units |
| Barber Daniel Officer | May 15, 2026 | 8,257 | $39.06K | May 15, 2026 | Restricted Stock Units |
| N. Kraus Carl Affiliate | Nov 17, 2025 | 53,100 | $286.21K | Nov 17, 2025 | RSU Vesting |
| Boyd Peter Officer | Oct 15, 2025 | 10,000 | $70.00K | Oct 15, 2025 | Stock Option |
| N. Kraus Carl Officer | Oct 15, 2025 | 40,544 | $278.94K | Oct 15, 2025 | RSU Vesting |
| Jung Cassie Officer | Oct 15, 2025 | 67,575 | $464.92K | Oct 15, 2025 | Exercise of Stock Options |
| Boyd Peter Officer | Sep 29, 2025 | 10,000 | $63.00K | Sep 26, 2025 | Stock Option |
| Barber Daniel Director, Officer | Sep 26, 2025 | 91,343 | $480.46K | Sep 26, 2025 | Private Acquisition from Issuer or an Affiliate |
| R. Barber Daniel Officer | Sep 19, 2025 | 400 | $1.98K | Sep 19, 2025 | Exercise of Stock Options |
| Peter E. Boyd Officer | Sep 5, 2025 | 15,000 | $79.50K | Sep 5, 2025 | Stock Option |