Sera Prognostics, Inc. (SERA) Stock

Sera Prognostics, Inc. (SERA) is a Healthcare stock trading at $2.02 (as of 2026-09-02), with a market capitalization of $101.96M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Sera Prognostics, Inc. develops and commercializes biomarker-based diagnostic tests aimed at pregnancy outcomes. Its PreTRM blood-based test is designed to assess risk of spontaneous preterm birth in asymptomatic singleton pregnancies, and it is advancing additional product candidates for conditions such as preeclampsia, gestational diabetes, and fetal growth restriction.

Understand Sera Prognostics, Inc.: how it makes money

Sera Prognostics makes blood-based biomarker tests (lead product: PreTRM for preterm birth prediction) sold to healthcare providers to flag high-risk pregnancies early. The company is in early commercialization with negligible revenue, and its path to income depends on winning payer coverage state by state.

Every dollar of future revenue is gated behind a payer coverage agreement for PreTRM; until insurers and government programs sign on, the company is a research expense, not a recurring-revenue business.

Business quality (Unprofitable): Unprofitable. No P/E, negative ROE at 57 percent, and losses vastly exceeding revenue. The investment case rests entirely on future payer adoption, not current operating performance.

Bull case

  • Payer coverage is materializing: Thirteen payers are in active discussions across 15 states, which is the single most important commercial milestone for a pre-revenue diagnostic. Each signed agreement converts PreTRM from a medical-device filing into a reimbursable line item for hospitals and OB/GYN offices.

Bear case

  • Unit economics are negative: Gross margin sits at -67 percent, meaning the company spends roughly 67 cents more to produce each test than it collects in revenue. Until manufacturing and reagent costs fall or pricing rises, no volume growth repairs the per-test loss.
  • Burn dwarfs all revenue: Operating margin is -33,347 percent, so operating expenses exceed revenue by more than 300 times. With no profitable segment to subsidize R&D, the company must keep raising capital, and each round dilutes existing shareholders.
Valuation — source: SEC EDGAR (first-party)
Price$2.02
Market Cap$101.96M
Price / Book1.72
Price / Sales1456.62
FCF Yield-25.8%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$81000.00
Net Margin-39417.3%
Revenue Growth (YoY)76.5%
EPS Growth (YoY)12.5%
FCF Growth (YoY)162.6%
Financial Health — source: SEC EDGAR
Altman Z-Score-2.97 (distress)
Valuation vs Sector & Industry
Sector P/E (Healthcare)21.6
Industry P/E (Healthcare Services)24.6
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBAKER BROS. ADVISORS LP ($11.16M)
Institutional Holders Tracked10
Company
SectorHealthcare
IndustryHealthcare Services
CEOZhenya Lindgardt
Employees63
CountryUS
IPO Date2021-07-15

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SERA earnings history · SERA institutional & insider holders · SERA KPIs & operating metrics · SERA financials · SERA investor presentations & press releases · SERA SEC filings · SERA peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-09-02.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.