Fund Holdings — BAKER BROS. ADVISORS LP

Total Portfolio Value
$13.84B
Total Bought
$1.77B
Total Sold
$273.58M
Net Transaction
+$1.50B
Filing Period:
Securities
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SharesValue ($K)
Q2 2025
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Q3 2025
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Change
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Q2 2025
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Q3 2025
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Weight (%)
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Change
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BeOne Medicines Ltd.(ONC)8,799,0538,799,05302,129,9872,997,83721.66%+867,851
Incyte Corporation(INCY)30,743,27530,743,663+3882,093,6172,607,37018.84%+513,753
Madrigal Pharmaceuticals, Inc.(MDGL)1,976,0182,141,701+165,683598,022982,3137.10%+384,290
Celcuity Inc.(CELC)5,450,4457,915,792+2,465,34772,763391,0402.83%+318,277
Kodiak Sciences Inc.(KOD)17,310,49017,310,490064,568283,3732.05%+218,805
Rhythm Pharmaceuticals, Inc.(RYTM)5,604,4835,604,4830354,147565,9974.09%+211,849
Insmed Incorporated(INSM)7,712,9006,703,484-1,009,416776,226965,3696.98%+189,142
Revolution Medicines, Inc.(RVMD)9,364,9729,455,357+90,385344,537441,5653.19%+97,028
Kymera Therapeutics, Inc.(KYMR)6,651,4296,651,4290290,268376,4712.72%+86,203
Abivax S.A.(ABVX)0875,796+875,796074,3550.54%+74,355
Alkermes plc(ALKS)6,410,6038,091,351+1,680,748183,407242,7411.75%+59,333
Stoke Therapeutics, Inc.(STOK)4,633,8384,633,838052,594108,8950.79%+56,301
Immatics N.V.(IMTX)10,168,90112,094,094+1,925,19354,709103,0420.74%+48,333
IDEAYA Biosciences, Inc.(IDYA)2,118,7283,275,444+1,156,71644,53689,1250.64%+44,589
AbCellera Biologics Inc.(ABCL)27,525,64027,525,640094,413138,4541.00%+44,041
Arrowhead Pharmaceuticals, Inc.(ARWR)939,1741,670,762+731,58814,83957,6250.42%+42,786
Celcuity Inc.(CELC)000040,9050.30%+40,905
Rapport Therapeutics, Inc.(RAPP)550,0901,547,090+997,0006,25545,9490.33%+39,694
Ionis Pharmaceuticals, Inc.(IONS)0566,798+566,798037,0800.27%+37,080
Kiniksa Pharmaceuticals International, plc(KNSA)2,824,6692,824,669078,159109,6820.79%+31,523
Avidity Biosciences, Inc.0625,000+625,000027,2310.20%+27,231
Merus N.V.574,377574,377030,21254,0780.39%+23,865
Edgewise Therapeutics, Inc.(EWTX)7,305,9407,305,940095,781118,5020.86%+22,721
Intellia Therapeutics, Inc.(NTLA)2,675,6742,746,674+71,00025,09847,4350.34%+22,337
Dianthus Therapeutics, Inc.(DNTH)789,759789,759014,71331,0770.22%+16,364
Roivant Sciences Ltd.(ROIV)3,767,7733,767,773042,46357,0060.41%+14,544
Monte Rosa Therapeutics, Inc.(GLUE)4,916,0954,916,095022,17236,4280.26%+14,257
Viridian Therapeutics, Inc.(VRDN)1,744,4061,744,406024,38737,6440.27%+13,257
GRAIL, Inc.(GRAL)1,630,1251,630,125083,82196,3890.70%+12,568
Immunocore Holdings plc(IMCR)2,322,6562,322,656072,88584,3820.61%+11,497
Cidara Therapeutics, Inc.227,272227,272011,07021,7640.16%+10,693
Viking Therapeutics, Inc.(VKTX)0366,083+366,08309,6210.07%+9,621
Pharvaris N.V.
COM
0375,000+375,00009,3560.07%+9,356
Bicycle Therapeutics plc10,885,35710,885,357075,65384,2530.61%+8,599
Xencor, Inc.(XNCR)670,4311,102,106+431,6755,27012,9280.09%+7,658
Praxis Precision Medicines, Inc.(PRAX)689,488689,488028,99336,5430.26%+7,550
Spyre Therapeutics, Inc.(SYRE)626,7031,000,000+373,2979,38216,7600.12%+7,378
Design Therapeutics, Inc.(DSGN)1,712,8821,712,88205,77212,8980.09%+7,126
argenx SE(ARGX)37,76037,760020,81427,8500.20%+7,036
Prelude Therapeutics Inc.(PRLD)10,123,82410,123,82408,19414,5780.11%+6,384
CytomX Therapeutics, Inc.(CTMX)3,484,2264,250,826+766,6007,90913,5600.10%+5,651
Heron Therapeutics, Inc.(HRTX)04,251,951+4,251,95105,3570.04%+5,357
MBX Biosciences, Inc.(MBX)0277,777+277,77704,8610.04%+4,861
Sionna Therapeutics, Inc.(SION)400,000400,00006,94011,7640.09%+4,824
Disc Medicine, Inc.(IRON)337,050337,050017,85022,2720.16%+4,422
Taysha Gene Therapies, Inc.(TSHA)4,004,7564,004,75609,25113,0960.09%+3,845
Celldex Therapeutics, Inc.(CLDX)665,370665,370013,54017,2130.12%+3,673
Crinetics Pharmaceuticals, Inc.(CRNX)280,000280,00008,05311,6620.08%+3,609
Xenon Pharmaceuticals Inc.(XENE)370,208370,208011,58814,8640.11%+3,276
Ventyx Biosciences, Inc.01,023,130+1,023,13003,1820.02%+3,182
LB Pharmaceuticals Inc.(LBRX)0200,000+200,00003,1580.02%+3,158
Arcellx, Inc.
COMMON STOCK
166,825166,825010,98513,6960.10%+2,711
Neurogene Inc.(NGNE)991,691991,691014,82617,1860.12%+2,360
Vaxcyte, Inc.(PCVX)640,885640,885020,83523,0850.17%+2,250
Relay Therapeutics, Inc.(RLAY)1,160,1171,160,11704,0146,0560.04%+2,042
vTv Therapeutics, Inc.(VTVT)97,314148,314+51,0001,4603,4630.03%+2,003
Denali Therapeutics Inc.(DNLI)3,731,6953,731,695052,20654,1840.39%+1,978
Sana Biotechnology, Inc.(SANA)2,030,9492,030,94905,5447,2100.05%+1,665
Sera Prognostics, Inc.(SERA)5,498,1705,498,170015,23016,8240.12%+1,594
Alumis Inc.1,562,5001,562,50004,6886,2340.05%+1,547
Nuvalent, Inc.143,937143,937010,98212,4480.09%+1,465
Agios Pharmaceuticals, Inc.(AGIO)189,866189,86606,3157,6210.06%+1,306
DBV Technologies S.A.(DBVT)1,461,4251,461,425013,38714,6140.11%+1,228
Generation Bio Co.0194,493+194,49301,1900.01%+1,190
TScan Therapeutics, Inc.(TCRX)2,784,7922,784,79204,0385,0680.04%+1,030
Protara Therapeutics, Inc.(TARA)536,832536,83201,6272,3350.02%+709
Immunovant, Inc.(IMVT)5,457,8815,457,881087,32687,9810.64%+655
Vir Biotechnology, Inc.(VIR)542,539542,53902,7343,0980.02%+364
VYNE Therapeutics Inc.(YARW)0851,353+851,35302850.00%+285
Wave Life Sciences Ltd.(WVE)344,063344,06302,2362,5190.02%+282
Aligos Therapeutics, Inc.(ALGS)83,05583,05505998140.01%+215
Enliven Therapeutics, Inc.114,833114,83302,3042,3510.02%+47
Tyra Biosciences, Inc.(TYRA)10,60710,60701021480.00%+47
Acrivon Therapeutics, Inc.22,80922,809027410.00%+14
Opthea Limited(CKDXF)2,087,3202,087,320000—0
Surrozen, Inc.(SRZN)833,333833,333015150.00%-0
Contineum Therapeutics, Inc.(CTNM)312,50077,670-234,8301,2419130.01%-328
Skye Bioscience, Inc.(SKYE)1,450,6381,450,63806,0645,7010.04%-363
Tectonic Therapeutic, Inc.(TECX)100,000100,00001,9871,5690.01%-418
Generation Bio Co.1,944,9450-1,944,9456230—-623
Sagimet Biosciences Inc.(SGMT)952,996952,99607,2626,5380.05%-724
Neumora Therapeutics, Inc.(NMRA)1,034,6000-1,034,6007590—-759
HOOKIPA Pharma Inc.812,8140-812,8141,0200—-1,020
Rocket Pharmaceuticals, Inc.(RCKT)552,0790-552,0791,3530—-1,353
Candel Therapeutics, Inc.(CADL)355,1120-355,1121,7970—-1,797
Akero Therapeutics, Inc.324,630324,630017,32215,4130.11%-1,909
Cerus Corporation(CERS)12,883,84410,008,345-2,875,49918,16615,9130.11%-2,253
Fate Therapeutics, Inc.(FATE)2,485,0180-2,485,0182,7830—-2,783
BioNTech SE(BNTX)368,923368,923039,27936,3830.26%-2,896
KALA BIO, Inc.(KALA)1,201,894985,093-216,8015,7211,5070.01%-4,214
Entrada Therapeutics, Inc.(TRDA)4,865,8194,865,819032,69828,2220.20%-4,477
IGM Biosciences, Inc.4,096,2100-4,096,2104,5880—-4,588
Nurix Therapeutics, Inc.(NRIX)3,882,1253,882,125044,21735,8710.26%-8,347
Structure Therapeutics Inc.2,508,7671,556,109-952,65852,03243,5710.31%-8,461
ACADIA Pharmaceuticals Inc.42,896,69042,896,6900925,282915,4156.61%-9,866
Blueprint Medicines Corporation125,5380-125,53816,0910—-16,091
Ultragenyx Pharmaceutical Inc.(RARE)2,772,6922,772,6920100,81583,4030.60%-17,413
Verve Therapeutics, Inc.1,691,5300-1,691,53018,9960—-18,996
Summit Therapeutics Inc.(SMMT)33,722,97433,722,9740717,625696,7175.03%-20,908
Verona Pharma plc223,8430-223,84321,1710—-21,171
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BAKER BROS. ADVISORS LP — 13F Holdings — Q3 2025 | TickerTrail