Fund Holdings — Cormorant Asset Management, LP

Total Portfolio Value
$1.98B
Total Bought
$537.22M
Total Sold
$266.20M
Net Transaction
+$271.02M
Filing Period:
Securities
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SharesValue ($K)
Q4 2025
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Q1 2026
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Change
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Q4 2025
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Q1 2026
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Weight (%)
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Change
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ERASCA INC(ERAS)05,800,000+5,800,000093,8444.73%+93,844
DIANTHUS THERAPEUTICS INC(DNTH)0950,000+950,000079,7244.02%+79,724
ALUMIS INC3,635,5963,949,241+313,64535,48387,0024.39%+51,518
DAMORA THERAPEUTICS INC(DMRA)01,525,000+1,525,000039,4981.99%+39,498
TANGO THERAPEUTICS INC(TNGX)01,425,000+1,425,000029,8111.50%+29,811
MOONLAKE IMMUNOTHERAPEUTICS(MLTX)4,355,4334,480,433+125,00057,40583,5154.21%+26,111
AGOMAB THERAPEUTICS NV(AGMB)02,465,348+2,465,348025,8621.30%+25,862
BIOAGE LABS INC(BIOA)2,040,6052,890,605+850,00026,99750,5572.55%+23,559
MAZE THERAPEUTICS INC(MAZE)0750,000+750,000022,3881.13%+22,388
EDGEWISE THERAPEUTICS INC(EWTX)3,285,0003,260,000-25,00081,517102,6905.18%+21,173
ROIVANT SCIENCES LTD(ROIV)0750,000+750,000020,7751.05%+20,775
ADLAI NORTYE LTD(ANL)02,897,857+2,897,857020,0531.01%+20,053
TERNS PHARMACEUTICALS INC0300,000+300,000015,8160.80%+15,816
BIOHAVEN LTD(BHVN)10,0001,760,000+1,750,00011314,8900.75%+14,777
HELIX ACQUISITION CORP III(HLXC)01,297,500+1,297,500013,1830.66%+13,183
ORUKA THERAPEUTICS INC(ORKA)533,340533,340016,16626,1601.32%+9,995
SENSEI BIOTHERAPEUTICS INC(FTH)0306,222+306,22209,6520.49%+9,652
ZURA BIO LTD(ZURA)01,450,000+1,450,00008,6280.43%+8,628
CENTESSA PHARMACEUTICALS PLC1,325,0001,050,000-275,00033,13841,7062.10%+8,568
STRUCTURE THERAPEUTICS INC0175,000+175,00008,4350.43%+8,435
MONTE ROSA THERAPEUTICS INC(GLUE)0400,000+400,00006,5800.33%+6,580
ARROWHEAD PHARMACEUTICALS IN(ARWR)0100,000+100,00006,2700.32%+6,270
PRAXIS PRECISION MEDICINES I(PRAX)950,000885,500-64,500280,003285,29914.38%+5,296
CABALETTA BIO INC(CABA)4,400,0005,500,000+1,100,0009,63614,7950.75%+5,159
RALLYBIO CORP(RLYB)0400,000+400,00003,5880.18%+3,588
CORBUS PHARMACEUTICALS HLDGS(CRBP)2,344,9712,344,971019,08822,0191.11%+2,931
CONTEXT THERAPEUTICS INC(CNTX)0529,550+529,55001,3870.07%+1,387
RAPPORT THERAPEUTICS INC(RAPP)3,027,5212,957,521-70,00091,85592,5414.67%+686
ASCENDIS PHARMA A/S(ASND)100,00095,000-5,00021,32421,7291.10%+405
VAXCYTE INC(PCVX)125,000100,000-25,0005,7685,8110.29%+44
AMYLYX PHARMACEUTICALS INC(AMLX)400,000350,000-50,0004,8324,8650.25%+33
COGENT BIOSCIENCES INC(COGT)225,000200,000-25,0007,9927,6980.39%-294
PHARVARIS N V
COM
1,083,0001,000,000-83,00030,05328,2501.42%-1,803
MBX BIOSCIENCES INC(MBX)1,120,0001,120,000035,32533,4321.69%-1,893
ARCUTIS BIOTHERAPEUTICS INC(ARQT)500,000450,000-50,00014,52010,6020.53%-3,918
NEWAMSTERDAM PHARMA COMPANY
ORDINARY SHARES
1,000,000950,000-50,00035,08030,4101.53%-4,670
TARSUS PHARMACEUTICALS INC(TARS)250,000225,000-25,00020,47015,7840.80%-4,686
CRINETICS PHARMACEUTICALS IN(CRNX)300,000250,000-50,00013,9659,0800.46%-4,885
AXSOME THERAPEUTICS INC.(AXSM)75,00050,000-25,00013,6988,4510.43%-5,247
BRIGHT MINDS BIOSCIENCES INC(DRUG)1,059,3311,059,331082,67077,2993.90%-5,371
JANUX THERAPEUTICS INC(JANX)650,0000-650,0008,9700—-8,970
OLEMA PHARMACEUTICALS INC(OLMA)2,750,0003,900,000+1,150,00068,75058,1492.93%-10,601
GH RESEARCH PLC(GHRS)1,300,0000-1,300,00016,5100—-16,510
INSMED INC(INSM)275,000190,000-85,00047,86131,0691.57%-16,792
BRIDGEBIO PHARMA INC(BBIO)1,200,000850,000-350,00091,78863,1213.18%-28,667
ENGENE HOLDINGS INC
COM
4,000,0000-4,000,00036,1200—-36,120
EYEPOINT INC(EYPT)8,265,0008,265,0000151,002106,5365.37%-44,466
BRIDGEBIO ONCOLOGY THERAPEUT(BBOT)17,878,59417,878,5940223,840160,0138.07%-63,827
ABIVAX SA(ABVX)1,350,000760,000-590,000182,05484,6264.27%-97,428
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Cormorant Asset Management, LP — 13F Holdings — Q1 2026 | TickerTrail