ADAR1 Capital Management, LLC and Daniel Schneeberger filed a Form 4 on October 27, 2026, disclosing three open-market purchases of NextCure, Inc. common stock between October 23 and October 27, 2026.

Key Highlights

  • Three purchases over three days: ADAR1 Capital Management acquired 5,626 shares on October 23, 1,672 shares on October 26, and 3,553 shares on October 27, 2026, for a combined total of 10,851 shares.
  • Weighted average prices: The per-share weighted average prices were $4.8294, $5.0344, and $5.0953, respectively, across the three transactions.
  • Resulting beneficial ownership: Following the final transaction, the reporting persons held 733,270 shares of NextCure common stock on an indirect basis.
  • 10% owner status: The filing identifies ADAR1 Capital Management, LLC as a 10% owner of NextCure, Inc. (NASDAQ:NXTC).
  • Indirect ownership structure: According to the filing, the reported securities are owned directly by private investment funds managed by ADAR1 Capital Management, LLC, and may be deemed indirectly beneficially owned by both ADAR1 Capital Management, LLC and Daniel Schneeberger, its sole manager.
  • Beneficial ownership disclaimer: Each reporting person "disclaims beneficial ownership of any such securities, except to the extent of his/its pecuniary interest therein, if any," as stated in the filing.

ADAR1 Capital Management's Three-Day Purchase Activity in NextCure Common Stock

According to the Form 4 filing, ADAR1 Capital Management, LLC and Daniel Schneeberger, the sole manager of ADAR1 Capital Management, LLC, reported purchases of NextCure, Inc. common stock on three consecutive trading days. On October 23, 2026, 5,626 shares were acquired at a weighted average price of $4.8294, with individual transaction prices ranging from $4.72 to $4.9000, inclusive. This brought beneficial ownership to 728,045 shares at that point.

On October 26, 2026, an additional 1,672 shares were purchased at a weighted average price of $5.0344, with prices ranging from $5.0000 to $5.1000, inclusive, bringing the total to 729,717 shares. On October 27, 2026, a further 3,553 shares were acquired at a weighted average price of $5.0953, with prices ranging from $4.9900 to $5.1000, inclusive. Following that final transaction, the reported indirect beneficial ownership stood at 733,270 shares of common stock.

The filing notes that all reported securities are owned directly by private investment funds managed by ADAR1 Capital Management, LLC. The reporting persons also state that each undertakes to provide full information regarding the number of shares purchased at each separate price within the disclosed ranges, upon request from NextCure, any of its security holders, or the staff of the Securities and Exchange Commission. All three transactions carry transaction code "P," indicating open-market purchases. No derivative securities were reported in the filing.

What Was Disclosed

ADAR1 Capital Management, LLC and Daniel Schneeberger disclosed three open-market purchases of NextCure, Inc. common stock between October 23 and October 27, 2026, totaling 10,851 shares, with resulting indirect beneficial ownership of 733,270 shares.