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  4. [Form 4] NextCure, Inc. Insider Trading Activity

ADAR1-managed funds buy 329,153 shares of NextCure (NXTC)

Filing Impact
(Very High)
Filing Sentiment
(Positive)
Form Type
4

Rhea-AI Filing Summary

Private investment funds managed by ADAR1 Capital Management, LLC, which may be deemed associated with Daniel Schneeberger, purchased a total of 329,153 shares of NextCure common stock on July 30–31, 2026 in multiple transactions at weighted-average prices generally between $4.7563 and $5.0000, reported as indirect holdings with beneficial ownership disclaimed except for any pecuniary interest.

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Insider ADAR1 Capital Management, LLC, Schneeberger Daniel
Role 10% Owner | 10% Owner
Bought 329,153 shs ($1.62M)
Type Security Shares Price Value
Purchase Common Stock F4, F6, F7 3,300 $4.9758 $16K
Purchase Common Stock F5, F6, F7 25,000 $4.9816 $125K
Purchase Common Stock F6, F7 8,003 $4.80 $38K
Purchase Common Stock F1, F6, F7 50,000 $4.9723 $249K
Purchase Common Stock F6, F7 20,000 $5.00 $100K
Purchase Common Stock F6, F7 20,000 $5.00 $100K
Purchase Common Stock F2, F6, F7 25,000 $4.8135 $120K
Purchase Common Stock F6, F7 100,000 $4.90 $490K
Purchase Common Stock F3, F6, F7 77,850 $4.9556 $386K
Holdings After Transaction: Common Stock — 722,419 shares (Indirect, See Footnote)
Footnotes (7)
  1. F1. The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $4.9000 to $5.0000, inclusive. Each Reporting Person undertakes to provide to NextCure, Inc., any security holder of NextCure, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.
  2. F2. The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $4.8100 to $4.8450, inclusive. Each Reporting Person undertakes to provide to NextCure, Inc., any security holder of NextCure, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.
  3. F3. The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $4.7563 to $5.0000, inclusive. Each Reporting Person undertakes to provide to NextCure, Inc., any security holder of NextCure, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.
  4. F4. The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $4.9100 to $5.0000, inclusive. Each Reporting Person undertakes to provide to NextCure, Inc., any security holder of NextCure, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.
  5. F5. The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $4.9740 to $4.9824, inclusive. Each Reporting Person undertakes to provide to NextCure, Inc., any security holder of NextCure, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.
  6. F6. The reported securities are owned directly by private investment funds managed by ADAR1 Capital Management, LLC, and may be deemed to be indirectly beneficially owned by (i) ADAR1 Capital Management, LLC and (ii) Daniel Schneeberger, the sole manager of ADAR1 Capital Management, LLC.
  7. F7. For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, each Reporting Person disclaims beneficial ownership of any such securities, except to the extent of his/its pecuniary interest therein, if any, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or otherwise.
Total shares purchased 329,153 shares Aggregate common stock bought by ADAR1-managed funds on July 30–31, 2026
Largest single reported block 100,000 shares at $4.9000 Indirect purchase of NextCure common stock on July 30, 2026
Weighted-average purchase price example $4.9723 per share Price for a 50,000-share indirect purchase on July 30, 2026 (weighted average)
Additional weighted-average price $4.9816 per share Price for a 25,000-share indirect purchase on July 31, 2026 (weighted average)
Footnoted trade price range $4.7563–$5.0000 Range of individual trade prices within one weighted-average purchase group
weighted average price financial
"The reported price is a weighted average price. These shares were purchased in multiple transactions"
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
indirectly beneficially owned regulatory
"may be deemed to be indirectly beneficially owned by (i) ADAR1 Capital Management, LLC"
pecuniary interest financial
"disclaims beneficial ownership of any such securities, except to the extent of his/its pecuniary interest"
Section 16 of the Securities Exchange Act of 1934 regulatory
"For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, each Reporting Person disclaims"
A provision of federal securities law that requires company insiders—directors, officers and large shareholders—to publicly report their stock holdings and trades and to surrender any “short-swing” profits from purchases and sales within a six-month window. It acts like a rule that forces leaders to announce their trades and prevents quick buy-sell windfalls, giving investors transparency into insider activity and reducing opportunities for unfair gain.

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Form 4 Insider Transactions: What Each Field Means →

FAQ

How many NextCure (NXTC) shares were purchased in this Form 4?
The reported transactions show purchases of 329,153 shares of NextCure common stock. These shares were bought in multiple trades on July 30–31, 2026 by private investment funds managed by ADAR1 Capital Management, LLC and reported as indirect holdings.

At what prices were the NextCure (NXTC) shares bought in these transactions?
Reported per-share prices include weighted-average figures such as $4.9723 for 50,000 shares and $4.9816 for 25,000 shares. Footnotes state underlying trade prices ranged roughly between $4.7563 and $5.0000 across the various purchase groups.

Who are the reporting persons in this NextCure (NXTC) insider filing?
The reporting persons are ADAR1 Capital Management, LLC and Daniel Schneeberger, each listed as a 10% owner. The securities are owned directly by private investment funds managed by ADAR1 and may be deemed indirectly beneficially owned by these reporting persons.

Are the purchased NextCure (NXTC) shares held directly by the reporting persons?
No. Footnotes state the shares are owned directly by private investment funds managed by ADAR1 Capital Management, LLC. The reporting persons may be deemed to indirectly beneficially own them but disclaim beneficial ownership except to the extent of any pecuniary interest.

Were the NextCure (NXTC) trades made under a Rule 10b5-1 trading plan?
The Form 4 indicates the Rule 10b5-1 checkbox is not marked, so these purchases were not reported as being made under a Rule 10b5-1 trading plan. The transactions are instead reported as standard open-market or private purchases.
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
ADAR1 Capital Management, LLC
(Last)(First)(Middle)
3503 WILD CHERRY DRIVE
BUILDING 9
(Street)
AUSTIN TEXAS 78738
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
NextCure, Inc. [ NXTC ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
DirectorX10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
07/30/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
XForm filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Common Stock07/30/2026P50,000A$4.9723(1)443,266ISee Footnote(6)(7)
Common Stock07/30/2026P20,000A$5463,266ISee Footnote(6)(7)
Common Stock07/30/2026P20,000A$5483,266ISee Footnote(6)(7)
Common Stock07/30/2026P25,000A$4.8135(2)508,266ISee Footnote(6)(7)
Common Stock07/30/2026P100,000A$4.9608,266ISee Footnote(6)(7)
Common Stock07/30/2026P77,850A$4.9556(3)686,116ISee Footnote(6)(7)
Common Stock07/31/2026P3,300A$4.9758(4)689,416ISee Footnote(6)(7)
Common Stock07/31/2026P25,000A$4.9816(5)714,416ISee Footnote(6)(7)
Common Stock07/31/2026P8,003A$4.8722,419ISee Footnote(6)(7)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
1. Name and Address of Reporting Person*
ADAR1 Capital Management, LLC
(Last)(First)(Middle)
3503 WILD CHERRY DRIVE
BUILDING 9
(Street)
AUSTIN TEXAS 78738
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
DirectorX10% Owner
Officer (give title below)Other (specify below)
1. Name and Address of Reporting Person*
Schneeberger Daniel
(Last)(First)(Middle)
3503 WILD CHERRY DRIVE
BUILDING 9
(Street)
AUSTIN TEXAS 78738
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
DirectorX10% Owner
Officer (give title below)Other (specify below)
Explanation of Responses:
1. The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $4.9000 to $5.0000, inclusive. Each Reporting Person undertakes to provide to NextCure, Inc., any security holder of NextCure, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.
2. The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $4.8100 to $4.8450, inclusive. Each Reporting Person undertakes to provide to NextCure, Inc., any security holder of NextCure, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.
3. The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $4.7563 to $5.0000, inclusive. Each Reporting Person undertakes to provide to NextCure, Inc., any security holder of NextCure, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.
4. The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $4.9100 to $5.0000, inclusive. Each Reporting Person undertakes to provide to NextCure, Inc., any security holder of NextCure, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.
5. The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $4.9740 to $4.9824, inclusive. Each Reporting Person undertakes to provide to NextCure, Inc., any security holder of NextCure, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.
6. The reported securities are owned directly by private investment funds managed by ADAR1 Capital Management, LLC, and may be deemed to be indirectly beneficially owned by (i) ADAR1 Capital Management, LLC and (ii) Daniel Schneeberger, the sole manager of ADAR1 Capital Management, LLC.
7. For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, each Reporting Person disclaims beneficial ownership of any such securities, except to the extent of his/its pecuniary interest therein, if any, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or otherwise.
ADAR1 Capital Management, LLC By: Daniel Schneeberger, Manager /s/ Daniel Schneeberger08/03/2026
/s/ Daniel Schneeberger08/03/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR