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uniQure

QURE on Nasdaq. uniQure sells gene therapies to patients with rare, serious diseases. Market value $1.6bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Health care stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
annual report to December 2025
-11.2%low

For every $100 of what the whole company costs, it produced $-11.15 of spare cash last year. A savings account pays about $4.

Price to profit
past 12 months to June 2026
n/a

The filings do not give us enough to work this out.

Return on capital
five annual reports to December 2025
-52.8%five-year median

Each dollar kept in the business earns -53 cents a year. Above 10 is good.

Quality score: 24 of 100. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.

$23.06 a share, 164% above its 1-year low

Over the past year the price has ranged from $8.73 to $71.50.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

0.3
-0.2
-0.2
-0.2
-0.2
20212022202320242025
Revenue
$524m$106m$16m$27m$16m
Operating margin
59.3%-134.4%-1785.5%-679.6%-1151.4%
Debt to equity
0.230.300.71n/a0.36
Shares outstanding
0.05bn0.05bn0.05bn0.06bn0.06bn

Health checks

  • Free cash flow positive1 of 5 years
  • Accounting checksSkipped: company is not yet profitable
  • Debt0.36× equity
  • Revenue growth, five yearsShrinking, 15.6% a year
  • Buying back its own sharesNo, 35% more shares since 2021

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $6 million last quarter, up 11% on a year ago.
  • A loss of $81 million, compared with a loss of $38 million a year ago.
  • It loses 1072 cents on each $1 of sales, compared with 1181 cents a year earlier.
  • 21% more shares than a year ago. Each share owns a bit less of the company.
  • It has $363 million more cash than debt, up from $202 million a year ago.
  • Sales grew on a year ago in each of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$2m
December 2024$5m
March 2025$2m
June 2025$5m
September 2025$4m
December 2025$6m
March 2026$4m
June 2026$6m
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024-$44m
December 2024-$73m
March 2025-$44m
June 2025-$38m
September 2025-$81m
December 2025-$37m
March 2026-$54m
June 2026-$81m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
2 March 2026
Next quarterly (estimated, 10-Q)
28 October 2026

Who owns it

2 long-term investors we follow own it, down from 3 last quarter. 254 funds in all.

Jun '25
Dec '25
Jun '26

Sold out this quarter

Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

8 investors own more than 5%.

  • at least 9.9%+3.3 pts
    (filed with 1 related holder)
    Since 31 December 2025
  • Roderick Wong, M.D.
    Passive investor
    7.9%
    Since 31 March 2025
  • JPMORGAN CHASE & CO
    Passive investor
    7.0%
    Since 30 June 2026
  • RTW Investments, LP
    Passive investor
    at least 5.7%+1.6 pts
    (filed with 1 related holder)
    Since 30 June 2026
  • G1 Execution Services, LLC
    Passive investor
    at least 4.8%−0.9 pts
    (filed with 4 related holders)
    Since 30 June 2026
  • Aberdeen Group plc
    Passive investor
    at least 4.5%−4.0 pts
    (filed with 1 related holder)
    Since 30 June 2026
  • at least 3.8%
    (filed with 2 related holders)
    Since 30 June 2025
  • FMR LLC
    Passive investor
    at least 2.8%−7.0 pts
    (filed with 1 related holder)
    Since 31 March 2026
  • STATE STREET CORPORATION
    Passive investor
    Sold down below 5%
    Since 31 March 2026
  • Vestal Point Capital, LP
    Passive investor
    Sold down below 5%
    Since 30 September 2025
  • EcoR1 Capital, LLC
    Passive investor
    Sold down below 5%
    Since 31 December 2025

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 12 sold $22m, $20m of it under preset trading plans.

  • Kapusta Matthew C
    CEO, Managing Director, Director
    Sold
    under a preset trading plan
    Date
    2 July 2026
    Shares
    21,082
    Price
    $45.16
    Value
    $952,051
  • Abi-Saab Walid
    Chief Medical Officer
    Sold
    under a preset trading plan
    Date
    30 June 2026
    Shares
    30,000
    Price
    $46.42
    Value
    $1m
  • Kaye Jack
    Director
    Sold
    under a preset trading plan
    Date
    30 June 2026
    Shares
    21,167
    Price
    $46.44
    Value
    $983,030
  • Abi-Saab Walid
    Chief Medical Officer
    Sold
    Date
    26 June 2026
    Shares
    1,434
    Price
    $46.86
    Value
    $67,197
  • Kapusta Matthew C
    CEO, Managing Director, Director
    Sold
    under a preset trading plan
    Date
    25 June 2026
    Shares
    28,716
    Price
    $50.02
    Value
    $1m
  • Kapusta Matthew C
    CEO, Managing Director, Director
    Sold
    under a preset trading plan
    Date
    24 June 2026
    Shares
    6,696
    Price
    $50.00
    Value
    $334,800
  • Kapusta Matthew C
    CEO, Managing Director, Director
    Sold
    under a preset trading plan
    Date
    18 June 2026
    Shares
    41,671
    Price
    $50.00
    Value
    $2m
  • Kapusta Matthew C
    CEO, Managing Director, Director
    Sold
    under a preset trading plan
    Date
    17 June 2026
    Shares
    164,429
    Price
    $44.32
    Value
    $7m
  • Balachandran Madhavan
    Director
    Sold
    under a preset trading plan
    Date
    17 June 2026
    Shares
    11,685
    Price
    $45.06
    Value
    $526,485
  • Kaye Jack
    Director
    Sold
    under a preset trading plan
    Date
    17 June 2026
    Shares
    5,295
    Price
    $42.57
    Value
    $225,408

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 2 Mar 2026, plus the 10-Q filed 29 Jul 2026 and 9 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

  • Sales have shrunk: 15.6% a year.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.