Voyager Therapeutics

VYGR

Biotechnology · Healthcare

Price

$3.17

+0.13 (+4.28%)

Market Cap

$191.5M

Exchange

NASDAQ

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count rising — dilution

+55.8% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 37.7M (2021) → 58.7M (2025)

Voyager Therapeutics, Inc., a gene therapy company, focuses on the development of treatments and next-generation platform technologies. The company's lead clinical candidate is the VY-AADC, which is in open-label Phase 1 clinical trial for the treatment of Parkinson's disease. Its preclinical programs comprise VY-SOD102 for the treatment of amyotrophic lateral sclerosis; VY-HTT01 for Huntington's disease; VY-FXN01 for Friedreich's ataxia; and Tau program for the treatment of tauopathies, includi

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-59.9% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+11.3% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

$135M/ year

↑ Rising (+6% vs prior year)

333.6% of revenue

18.5x the sector average (18%)

Investing heavily in future products and technology

Insider Activity

16.6%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~4 months

$43M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Heavy R&D investment

Voyager Therapeutics is putting 334% of revenue into R&D and that number is rising. That's 18.5x the sector average.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

64.1%

Premium pricing power — 64.1% gross margin

Operating Margin

-1167.4%

Losing money on operations — -1167.4%

ROCE

-17.4%

Weak — -17.4% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

-45.5%

Shrinking sales (-45.5% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-356.1%

Burning cash (-356.1%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

N/A

Data not available

Interest Cover

N/A

—

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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