Rankings Pharma & medtech Nautilus Biotechnology

Nautilus Biotechnology

Pharma & medtech · United StatesRank 441 of 829Prices 2 Nov 2026Model 1.4

15070100

A good business with a real question mark: the price, a crack, or both.

Biggest deductions

Margin−10
Product and moat−9
Multiples vs own history−5

Strengths

Net cash+3

How the score is built

From 100 to 58, step by step: points off for the business, the price and the cracks, back for documented strengths, then three data adjustments.

100Start

58Score

Hover or select a step to see what drove it. Steps with findings open them below.

Key numbers

As of 2 Nov 2026. Analyst targets tend to be optimistic; read upside as a hint, not a forecast.

Price: 2.33 USD
Median analyst target: 4.00 USD
Upside to median: +71.3%
Analysts: 4
Target range: 4.00 – 4.00 USD
52-week change: +76%
P/E (trailing): n/a
Forward P/E: n/a
PEG: n/a

Findings

Every deduction and every plus, with its source. Open a step to read them.

Business

Is the company getting stronger, not just bigger? · 3 findings−22 of −30

Margin
Revenue USD 0.19m (TTM, mostly a grant from the Michael J. Fox Foundation and the first early access services) vs an operating loss of USD 62.8m; net loss 14.5m in Q2 2026.
sec.gov
−10
Product and moat
The core promise - broad measurement of half the proteome (10,000-11,000 proteins) - does not hold: in Q2 2026 the probes did not reach target specifications, the broadscale launch in 2027 has been dropped with no new timeline, and the team is being halved. The company is switching to niche assays for proteoforms (Tau, AKT1) - a far smaller market than the one the listing was built on.
marketbeat.com
−9
Capital allocation
Cash has fallen from approx. USD 324m shortly after the SPAC listing (2021–22) to 129m without a commercial product; ROIC −21% and return on equity −36%.
stockanalysis.com
−3

Price

Today's multiples against the company's own history and its peers. · 2 findings−8 of −35

Multiples vs own history
P/B 2.18 is the highest ever (0.71–1.77 in 2021–2025), and the market value is +151% in a year – after the main product was shelved.
stockanalysis.com
−5
Absolute price level
Market cap USD 286m and EV about 185m (including long-term securities) for a platform with no revenue, no instrument sales before mid-2027 and no timeline for broadscale; FCF yield -18%.
stockanalysis.com
−3

Cracks

Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 4 findings−14 of −35

Execution vs targets
The launch has been postponed repeatedly: 2024 → 2025 → 'late 2026' (Q4 2024 guidance) → pre-orders in early 2027 and delivery mid-2027. The stock fell 27% on the Q2 report.
rttnews.com
−5
Funding and dilution
Management expects cash to last into Q1 2028, but plans to raise debt and/or equity by mid-2027 at the latest - right around the launch. At the current market cap this means significant dilution.
marketbeat.com
−5
Share price risk
52-week range USD 0.64–3.95; the price has more than doubled from about USD 0.95 in August to 2.25 with no identified news (RSI 75). Free float only 67m of 127m shares.
stockanalysis.com
−3
Listing risk
Nasdaq notice for price below USD 1 in May 2025; the company moved to the Nasdaq Capital Market and regained compliance in November 2025, but traded below USD 1 again in August 2026.
sec.gov
−1

Plus

Only documented strengths. · 1 finding+3 of +15

Net cash
Cash and securities of USD 129.2m vs debt (leasing) of 27.8m: net cash approx. USD 101m or 35% of market cap; operating costs fell 7% to 15.9m in Q2.
sec.gov
+3

Caveats

What the score does not capture, or where the data is weak.

Proteomics tools company with no launched product (does not fit cleanly in the industry list; placed under 'Medicine & medtech'). Stockanalysis' cash (84m USD) excludes long-term securities: total cash and securities were 129.2m USD at 30/6-2026, so EV is effectively approx. 185m USD. The share price rise from approx. 0.95 USD (August) to 2.25 USD has no identified news. An ATM programme of up to 125m USD is mentioned by a third party, but not verified in SEC filings. Whether the stock received a new Nasdaq notice for trading below 1 USD in August–September 2026 has not been examined. Competitors (Thermo Fisher/Olink, Standard BioTools/SomaLogic, Quantum-Si, mass spectrometry) not systematically reviewed. Not a peptide company; the claim of '10x in 2026' requires approx. 2.9bn USD in market cap with no product – unrealistic. Analysis, not investment advice.