Fund Holdings — Cormorant Asset Management, LP

Total Portfolio Value
$1.45B
Total Bought
$306.31M
Total Sold
$802.59M
Net Transaction
-$496.28M
Filing Period:
Securities
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SharesValue ($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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BRIDGEBIO ONCOLOGY THERAPEUT(BBOT)017,878,594+17,878,5940207,03414.29%+207,034
ABIVAX SA(ABVX)2,130,0001,950,000-180,00016,295165,55511.42%+149,261
RAPPORT THERAPEUTICS INC(RAPP)2,940,9213,192,521+251,60033,43894,8186.54%+61,380
EYEPOINT PHARMACEUTICALS INC(EYPT)8,325,0008,325,000078,338118,5488.18%+40,210
BRIGHT MINDS BIOSCIENCES INC(DRUG)1,059,3311,059,331027,65964,2594.43%+36,600
NEWAMSTERDAM PHARMA COMPANY
ORDINARY SHARES
2,175,0002,175,000039,38961,8574.27%+22,468
CENTESSA PHARMACEUTICALS PLC2,086,6001,925,000-161,60027,41846,6813.22%+19,263
KORRO BIO INC(KRRO)465,000465,00005,80822,2691.54%+16,461
CORBUS PHARMACEUTICALS HLDGS(CRBP)2,375,0002,375,000016,38830,0442.07%+13,656
MBX BIOSCIENCES INC(MBX)700,0001,225,000+525,0007,98721,4381.48%+13,451
ARCELLX INC
COMMON STOCK
800,000775,000-25,00052,68063,6284.39%+10,948
ORUKA THERAPEUTICS INC(ORKA)0533,340+533,340010,2560.71%+10,256
METSERA INC400,000400,000011,38020,9321.44%+9,552
EDGEWISE THERAPEUTICS INC(EWTX)4,251,9924,010,000-241,99255,74465,0424.49%+9,299
CG ONCOLOGY INC(CGON)625,000625,000016,25025,1751.74%+8,925
PHARVARIS N V
COM
1,454,6601,363,200-91,46025,60234,0122.35%+8,410
INSMED INC(INSM)540,000430,000-110,00054,34661,9244.27%+7,579
ENGENE HOLDINGS INC
COM
2,323,5952,323,59508,45815,8701.10%+7,412
AVIDITY BIOSCIENCES INC200,000300,000+100,0005,68013,0710.90%+7,391
AMYLYX PHARMACEUTICALS INC(AMLX)0500,000+500,00006,7950.47%+6,795
TARSUS PHARMACEUTICALS INC(TARS)300,000300,000012,15317,8291.23%+5,676
CRINETICS PHARMACEUTICALS IN(CRNX)400,000400,000011,50416,6601.15%+5,156
CABALETTA BIO INC(CABA)5,000,0005,000,00007,60011,7000.81%+4,100
BIOAGE LABS INC(BIOA)2,140,6052,140,60508,84112,5870.87%+3,746
BRIDGEBIO PHARMA INC(BBIO)1,600,0001,400,000-200,00069,08872,7165.02%+3,628
GH RESEARCH PLC(GHRS)2,009,4821,916,439-93,04324,49627,4051.89%+2,909
ALUMIS INC2,147,3962,147,39606,4428,5680.59%+2,126
AXSOME THERAPEUTICS INC(AXSM)100,000100,000010,43912,1450.84%+1,706
BIOMEA FUSION INC(BMEA)3,570,8723,570,87206,4287,2130.50%+786
VAXCYTE INC(PCVX)175,000175,00005,6896,3040.43%+614
ARCUTIS BIOTHERAPEUTICS INC(ARQT)1,000,000775,000-225,00014,02014,6091.01%+589
ENLIVEN THERAPEUTICS INC200,000200,00004,0124,0940.28%+82
BIOHAVEN LTD(BHVN)10,00010,00001411500.01%+9
VYNE THERAPEUTICS INC(YARW)1,370,9380-1,370,9382,2620—-2,262
KALA BIO INC(KALA)603,0270-603,0272,8700—-2,870
STOKE THERAPEUTICS INC(STOK)254,1610-254,1612,8850—-2,885
AARDVARK THERAPEUTICS INC800,1890-800,18910,8190—-10,819
JANUX THERAPEUTICS INC(JANX)1,500,000850,000-650,00034,65020,7741.43%-13,876
CARGO THERAPEUTICS INC3,381,2770-3,381,27713,9310—-13,931
PRAXIS PRECISION MEDICINES I(PRAX)1,625,0001,000,000-625,00068,33153,0003.66%-15,331
ARS PHARMACEUTICALS INC(SPRY)1,100,0000-1,100,00019,1950—-19,195
HELIX ACQUISITION CORP II2,909,0000-2,909,00030,8940—-30,894
VERONA PHARMA PLC350,0000-350,00033,1030—-33,103
MERUS N V1,120,0000-1,120,00058,9120—-58,912
MOONLAKE IMMUNOTHERAPEUTICS(MLTX)8,494,1511,994,173-6,499,978400,92414,2980.99%-386,626
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Cormorant Asset Management, LP — 13F Holdings — Q3 2025 | TickerTrail