XFORNasdaqBiological Products, (No Diagnostic Substances)Fiscal year ends December 31
X4 Pharmaceuticals, Inc
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$2.75+0.16 (+6.18%)
Close on Oct 19, 2026
- Market cap
- $347.45M
- P/E (TTM)
- –
- Dividend yield
- –
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
100.0%
102M of 99M shares
Institutional holders
88
32 new, 26 sold out
Net institutional buying
7M
In Q2 2026
Insider trades, 12 months
1 buys · 4 sales
Net sold $178.89K
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 |
|---|---|---|---|---|
| Empery Asset Management, LP | 9,043,894 | 9.99% | 13G (passive) amendment | Dec 31, 2025 |
| Morgan Stanley | 8,884,338 | 10.20% | 13G (passive) amendment | Feb 28, 2026 |
| Perceptive Life Sciences Master Fund, Ltd. | 8,085,006 | 8.10% | 13G (passive) amendment | Jun 30, 2026 |
| David Kroin | 8,040,894 | 8.33% | 13G (passive) amendment | Jun 30, 2026 |
| BCLS II Equity Opportunities, LP | 7,047,216 | 7.43% | 13G (passive) amendment | Dec 31, 2025 |
| Xiaoying Tian | 6,433,481 | 7.36% | 13G (passive) | Oct 24, 2025 |
| Perceptive Advisors LLC | 6,064,680 | 7.60% | 13G (passive) | Oct 27, 2025 |
| Venrock Healthcare Capital Partners III, L.P. | 5,555,047 | 5.60% | 13G (passive) | Sep 14, 2026 |
| BlackRock, Inc. | 5,529,573 | 5.90% | 13G (passive) | Jun 30, 2026 |
| Trails Edge Capital Partners, LP | 5,227,222 | 5.80% | 13G (passive) amendment | Dec 31, 2025 |
| NEA Partners 18 VGE, L.P. | 5,057,610 | 6.20% | 13D (active) amendment | Oct 27, 2025 |
| Hoe Martin D. | 2,498,162 | 9.99% | 13G (passive) | Sep 30, 2025 |
| Coastlands Capital GP LLC | 2,491,638 | 9.99% | 13G (passive) | Oct 3, 2025 |
| Coastlands Capital LLC | 2,479,645 | 9.99% | 13D (active) | Aug 11, 2025 |
| Bain Capital Life Sciences Fund II, L.P. | 2,436,588 | 9.99% | 13G (passive) | Sep 9, 2025 |
| Bain Capital Life Sciences Fund, L.P. | 2,436,526 | 9.99% | 13D (active) | Aug 11, 2025 |
| Deep Track Capital, LP | 2,366,995 | 9.99% | 13G (passive) | Aug 12, 2025 |
| Trails Edge Biotechnology Master Fund, LP | 2,317,153 | 9.90% | 13G (passive) | Aug 11, 2025 |
| Rick Yang | 2,243,658 | 9.99% | 13D (active) amendment | Aug 13, 2025 |
| Anders Hove | 17,755,869 | 9.99% | 13G (passive) | Dec 31, 2023 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of XFOR | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| Morgan Stanley | 9,461,279 | 9.54% | $44.18M | −5,713 | 0.00% |
| FMR LLC | 8,321,657 | 8.39% | $38.86M | +218,257 | 0.00% |
| Bain Capital Life Sciences Investors, LLC | 7,967,454 | 8.04% | $37.21M | – | 2.21% |
| Perceptive Advisors LLC | 7,933,491 | 8.00% | $37.05M | +1,195,843 | 0.56% |
| Kalehua Capital Management LLC | 7,445,680 | 7.51% | $34.77M | – | 11.09% |
| Saturn V Capital Management LP | 6,973,343 | 7.03% | $32.57M | +516,697 | 4.67% |
| Empery Asset Management, LP | 6,930,591 | 6.99% | $32.37M | −2,013,527 | 37.43% |
| Deep Track Capital, LP | 5,878,757 | 5.93% | $27.45M | −460,778 | 0.40% |
| BlackRock, Inc. | 5,554,906 | 5.60% | $25.94M | +4,343,112 | 0.00% |
| Nantahala Capital Management, LLC | 4,898,936 | 4.94% | $22.88M | +2,449,468 | 0.38% |
| Vanguard Capital Management LLC | 3,715,859 | 3.75% | $17.35M | +218,247 | 0.00% |
| Rosalind Advisors, Inc. | 3,214,766 | 3.24% | $15.01M | – | 5.58% |
| Braidwell LP | 2,922,754 | 2.95% | $13.65M | −350,200 | 0.50% |
| Blackstone Inc. | 2,681,922 | 2.71% | $12.52M | – | 0.04% |
| Trails Edge Capital Partners, LP | 2,571,478 | 2.59% | $12.01M | – | 1.91% |
| Bvf Inc/Il | 2,233,742 | 2.25% | $10.43M | – | 0.27% |
| Geode Capital Management, LLC | 2,098,047 | 2.12% | $9.80M | +1,158,321 | 0.00% |
| VR Adviser, LLC | 1,934,253 | 1.95% | $9.03M | +1,603,728 | 0.27% |
| Samsara BioCapital, LLC | 1,395,587 | 1.41% | $6.52M | −436,979 | 0.54% |
| State Street Corp | 1,296,017 | 1.31% | $6.05M | +892,483 | 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 | 88 | 102M | 100.0% | 32 / 25 | 13 / 26 | 16M | 9M |
| Q1 2026 | 82 | 95M | 95.8% | 18 / 24 | 21 / 10 | 17M | 4M |
| Q4 2025 | 76 | 86M | 86.7% | 41 / 16 | 8 / 4 | 74M | 2M |
| Q3 2025 | 40 | 14M | 13.8% | 11 / 10 | 10 / 20 | 12M | 1M |
| Q2 2025 | 49 | 2M | 2.2% | 48 / 1 | 0 / 1 | 2M | 0M |
| Q1 2025 | 2 | 0M | 0.0% | 2 / 0 | 0 / 0 | 0M | 0M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of XFOR | Value | % of fund | As of |
|---|---|---|---|---|---|
| Fidelity Small Cap Growth Fund | 3,386,200 | 3.42% | $13.48M | 0.15% | Jul 31, 2026 |
| Vanguard Total Stock Market Index Fund | 2,599,387 | 2.62% | $12.14M | 0.00% | Jun 30, 2026 |
| Inception Portfolio | 2,308,518 | 2.33% | $10.78M | 3.82% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 1,907,416 | 1.92% | $8.91M | 0.01% | Jun 30, 2026 |
| EQ/Morgan Stanley Small Cap Growth Portfolio | 1,817,124 | 1.83% | $8.49M | 1.79% | Jun 30, 2026 |
| Fidelity Small Cap Growth K6 Fund | 1,689,700 | 1.70% | $6.73M | 0.15% | Jul 31, 2026 |
| Select Biotechnology Portfolio | 1,428,500 | 1.44% | $6.16M | 0.12% | May 31, 2026 |
| Fidelity Advisor Biotechnology Fund | 1,341,800 | 1.35% | $5.34M | 0.24% | Jul 31, 2026 |
| Vanguard Extended Market Index Fund | 1,032,028 | 1.04% | $4.82M | 0.00% | Jun 30, 2026 |
| Fidelity Small Cap Index Fund | 884,763 | 0.89% | $3.52M | 0.01% | Jul 31, 2026 |
| iShares Russell 2000 Value ETF | 758,220 | 0.76% | $3.54M | 0.02% | Jun 30, 2026 |
| Fidelity Small Cap Stock Fund | 504,600 | 0.51% | $2.01M | 0.15% | Jul 31, 2026 |
| Fidelity Extended Market Index Fund | 422,860 | 0.43% | $1.82M | 0.00% | May 31, 2026 |
| iShares Micro-Cap ETF | 271,214 | 0.27% | $1.27M | 0.08% | Jun 30, 2026 |
| Schwab Small-Cap Index Fund | 196,530 | 0.20% | $782.19K | 0.01% | Jul 31, 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 |
|---|---|---|---|---|
| Adam R. Craig | Executive Chairman, Director | 328,651 | 0.33% | Aug 13, 2026 |
| Paula Ragan | President and CEO, Director | 3,337,386 | 3.37% | Feb 14, 2025 |
| John Volpone | President | 265,305 | 0.27% | Aug 13, 2026 |
| David Kirske | Chief Financial Officer | 167,750 | 0.17% | Jul 1, 2026 |
| Natasha Fay Thoren | Chief Legal Officer | 9,462 | 0.01% | Jul 3, 2025 |
| Mark Baldry | Chief Commercial Officer | 25,337 | 0.03% | Jun 3, 2025 |
| Mary DiBiase | Chief Operating Officer | 1,140,980 | 1.15% | Feb 14, 2025 |
| Adam S. Mostafa | Chief Financial Officer | 850,000 | 0.86% | Feb 14, 2025 |
| Christophe Arbet-Engels | Chief Medical Officer | 864,207 | 0.87% | Feb 14, 2025 |
| Kelly Gold | Director | – | – | Jul 1, 2026 |
| Gary Bridger | Director | 4,722 | 0.00% | Jan 7, 2026 |
| Murray Stewart | Director | 7,883 | 0.01% | Jan 5, 2026 |
| Michael S. Wyzga | Director | 5,555 | 0.01% | Jan 5, 2026 |
| Craecker Francoise de | Director | 4,722 | 0.00% | Jan 5, 2026 |
| David W. J. McGirr | Director | 4,722 | 0.00% | Jun 10, 2025 |
| Keith Woods | Director | 6,000 | 0.01% | Jun 10, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| John Volpone President | Aug 12, 2026 | Sale | −24,576 | $4.44 | $109.12K | 265,305 |
| Adam R. Craig Executive Chairman, Director | Aug 12, 2026 | Sale | −47,436 | $4.44 | $210.62K | 328,651 |
| David Kirske Chief Financial Officer | Jun 30, 2026 | Sale | −8,543 | $4.26 | $36.39K | 167,750 |
| David Kirske Chief Financial Officer | May 12, 2026 | Sale | −16,961 | $4.29 | $72.76K | 176,293 |
| Adam R. Craig Executive Chairman, Director | Oct 23, 2025 | Buy | +86,206 | $2.90 | $250.00K | 376,087 |
| Adam R. Craig Executive Chairman, Director | Aug 14, 2025 | Award | +289,881 | – | – | 289,881 |
| David Kirske Chief Financial Officer | Aug 14, 2025 | Award | +193,254 | – | – | 193,254 |
| John Volpone President | Aug 14, 2025 | Award | +289,881 | – | – | 289,881 |
| Murray Stewart Director | Jun 9, 2025 | Award | +1,500 | – | – | 7,883 |
| Craecker Francoise de Director | Jun 9, 2025 | Award | +1,500 | – | – | 4,722 |
| David W. J. McGirr Director | Jun 9, 2025 | Award | +1,500 | – | – | 4,722 |
| Michael S. Wyzga Director | Jun 9, 2025 | Award | +1,500 | – | – | 5,555 |
| Keith Woods Director | Jun 9, 2025 | Award | +1,500 | – | – | 6,000 |
| Gary Bridger Director | Jun 9, 2025 | Award | +1,500 | – | – | 4,722 |
| Natasha Fay Thoren Chief Legal Officer | May 20, 2025 | Award | +3,333 | – | – | 9,462 |
| Mark Baldry Chief Commercial Officer | May 16, 2025 | Award | +1,032 | $2.48 | $2.56K | 25,337 |
| Mark Baldry Chief Commercial Officer | May 16, 2025 | Buy | +1,032 | $2.48 | $2.56K | 25,337 |
| Adam S. Mostafa Chief Financial Officer | Feb 12, 2025 | Award | +850,000 | – | – | 850,000 |
| Mark Baldry Chief Commercial Officer | Feb 12, 2025 | Award | +600,000 | – | – | 729,173 |
| Christophe Arbet-Engels Chief Medical Officer | Feb 12, 2025 | Award | +850,000 | – | – | 864,207 |
| Mary DiBiase Chief Operating Officer | Feb 12, 2025 | Award | +650,000 | – | – | 1,140,980 |
| Paula Ragan President and CEO, Director | Feb 12, 2025 | Award | +2,250,000 | – | – | 3,337,386 |
| Mark Baldry Chief Commercial Officer | Jan 24, 2025 | Sale(10b5-1 plan) | −29,159 | $0.45 | $13.12K | 94,123 |
| Mary DiBiase Chief Operating Officer | Jan 24, 2025 | Sale(10b5-1 plan) | −22,258 | $0.45 | $10.02K | 490,980 |
| Paula Ragan President and CEO, Director | Jan 24, 2025 | Sale(10b5-1 plan) | −76,473 | $0.45 | $34.41K | 1,087,386 |
| Adam S. Mostafa Chief Financial Officer | Jan 24, 2025 | Sale(10b5-1 plan) | −74,773 | $0.45 | $33.65K | 0 |
| Christophe Arbet-Engels Chief Medical Officer | Jan 24, 2025 | Sale(10b5-1 plan) | −11,624 | $0.45 | $5.23K | 14,207 |
| Mark Baldry Chief Commercial Officer | Jan 23, 2025 | Award | +74,773 | – | – | 123,282 |
| Mary DiBiase Chief Operating Officer | Jan 23, 2025 | Award | +61,178 | – | – | 513,238 |
| Paula Ragan President and CEO, Director | Jan 23, 2025 | Award | +169,940 | – | – | 1,163,859 |
| Adam S. Mostafa Chief Financial Officer | Jan 23, 2025 | Award | +74,773 | – | – | 74,773 |
| Christophe Arbet-Engels Chief Medical Officer | Jan 23, 2025 | Award | +25,831 | – | – | 25,831 |
| Mark Baldry Chief Commercial Officer | Nov 15, 2024 | Buy | +13,404 | $0.34 | $4.56K | 129,173 |
| Paula Ragan President and CEO, Director | Nov 15, 2024 | Sale(10b5-1 plan) | −31,897 | $0.39 | $12.44K | 993,919 |
| Paula Ragan President and CEO, Director | Oct 15, 2024 | Sale(10b5-1 plan) | −31,897 | $0.56 | $17.86K | 1,025,816 |
| Adam S. Mostafa Chief Financial Officer | Oct 7, 2024 | Sale(10b5-1 plan) | −230,645 | $0.55 | $126.85K | 0 |
| Arthur Taveras Chief Scientific Officer | Oct 7, 2024 | Sale(10b5-1 plan) | −76,920 | $0.56 | $43.08K | 388,026 |
| Mary DiBiase Chief Operating Officer | Oct 7, 2024 | Sale(10b5-1 plan) | −67,695 | $0.57 | $38.59K | 452,060 |
| Mark Baldry Chief Commercial Officer | Oct 7, 2024 | Sale(10b5-1 plan) | −11,127 | $0.58 | $6.45K | 48,509 |
| Paula Ragan President and CEO, Director | Oct 7, 2024 | Sale(10b5-1 plan) | −239,436 | $0.55 | $131.69K | 1,057,713 |
| Adam S. Mostafa Chief Financial Officer | Oct 4, 2024 | Award | +230,645 | – | – | 230,645 |
| Arthur Taveras Chief Scientific Officer | Oct 4, 2024 | Award | +230,645 | – | – | 464,946 |
| Mary DiBiase Chief Operating Officer | Oct 4, 2024 | Award | +230,645 | – | – | 519,755 |
| Mark Baldry Chief Commercial Officer | Oct 4, 2024 | Award | +34,946 | – | – | 59,636 |
| Paula Ragan President and CEO, Director | Oct 4, 2024 | Award | +532,081 | – | – | 1,297,149 |
| Mary DiBiase Chief Operating Officer | Sep 9, 2024 | Sale | −2,642 | $0.66 | $1.74K | 289,110 |
| Craecker Francoise de Director | Jun 10, 2024 | Award | +45,000 | – | – | 96,667 |
| William Aliski Director | Jun 10, 2024 | Award | +45,000 | – | – | 96,667 |
| David W. J. McGirr Director | Jun 10, 2024 | Award | +45,000 | – | – | 96,667 |
| Keith Woods Director | Jun 10, 2024 | Award | +45,000 | – | – | 135,000 |
| Alison Frances Lawton Director | Jun 10, 2024 | Award | +45,000 | – | – | 96,667 |
| Gary Bridger Director | Jun 10, 2024 | Award | +45,000 | – | – | 96,667 |
| Murray Stewart Director | Jun 10, 2024 | Award | +45,000 | – | – | 191,504 |
| Michael S. Wyzga Director | Jun 10, 2024 | Award | +45,000 | – | – | 121,667 |
| Mark Baldry Chief Commercial Officer | May 17, 2024 | Buy | +21,646 | $0.68 | $14.72K | 115,769 |
| Arthur Taveras Chief Scientific Officer | Mar 11, 2024 | Sale | −14,235 | $0.88 | $12.53K | 234,301 |
| Paula Ragan President and CEO, Director | Mar 11, 2024 | Sale | −49,678 | $0.88 | $43.72K | 765,068 |
| Mary DiBiase Chief Operating Officer | Mar 11, 2024 | Sale | −15,409 | $0.88 | $13.56K | 291,752 |
| Adam S. Mostafa Chief Financial Officer | Mar 11, 2024 | Sale | −52,500 | $0.88 | $46.20K | 0 |
| Paula Ragan President and CEO, Director | Feb 12, 2024 | Sale(10b5-1 plan) | −21,695 | $1.01 | $21.91K | 814,746 |
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 |
|---|---|---|---|---|---|
| Kirske David Officer | Oct 1, 2026 | 11,767 | $33.66K | Oct 1, 2026 | Restricted Stock Unit Vesting |
| Craig Adam Executive Chaiman | Aug 13, 2026 | 47,436 | $216.07K | Aug 12, 2026 | Restricted Stock Unit Vesting |
| Volpone John Officer | Aug 13, 2026 | 24,576 | $111.94K | Aug 12, 2026 | Restricted Stock Unit Vesting |
| Kirske David Officer | May 12, 2026 | 16,961 | $72.82K | May 12, 2026 | Restricted Stock Unit Vesting |
| Paula Ragan Officer | Jan 24, 2025 | 76,473 | $39.77K | Jan 24, 2025 | PRSU Vesting |
| Arthur Taveras Officer | Jan 24, 2025 | 24,828 | $12.91K | Jan 24, 2025 | PRSU Vesting |
| Adam S. Mostafa Officer | Jan 24, 2025 | 74,773 | $38.88K | Oct 7, 2024 | PRSU |
| Mark Baldry Officer | Jan 24, 2025 | 29,159 | $15.16K | Jan 24, 2025 | Stock Award |
| Christophe Arbet-Engels Officer | Jan 24, 2025 | 11,624 | $6.04K | Jan 24, 2025 | Stock Award |
| Mary DiBiase Officer | Jan 24, 2025 | 22,258 | $11.57K | Jan 24, 2025 | PRSU Vesting |
| Paula Ragan Officer | Nov 15, 2024 | 31,897 | $13.08K | Nov 15, 2024 | RSU/PRSU Vest |
| Paula Ragan Officer | Oct 15, 2024 | 31,897 | $17.86K | Oct 15, 2024 | RSU/PRSU Vest |
| Mark Baldry Officer | Oct 7, 2024 | 11,127 | $7.08K | Oct 7, 2024 | Stock Award |
| Adam S. Mostafa Officer | Oct 7, 2024 | 230,645 | $146.83K | Oct 7, 2024 | PRSU |
| Paula Ragan Officer | Oct 7, 2024 | 239,436 | $152.42K | Oct 7, 2024 | Stock Award |