Cormorant Asset Management, LP
Comparing Q4 2025 vs Q3 2025
Sorting applies to all holdings for this quarter on the server, then the page is sliced. Prior-quarter values come from the full prior-quarter filing.
Issuer ▲▼ | Shares | Value ($K) | ||||
|---|---|---|---|---|---|---|
Q3 2025 ▲▼ | Q4 2025 ▲▼ | Change ▲▼ | Q3 2025 ▲▼ | Q4 2025 ▲▼ | Change ▲▼ | |
| PRAXIS PRECISION MEDICINES I | 1,000,000 | 950,000 | -50,000 | 53,000,000 | 280,003,000 | +227,003,000 |
| INVESCO QQQ TR(Put) | 0 | 250,000 | +250,000 | 0 | 153,577,500 | +153,577,500 |
| ISHARES TR(Put) | 0 | 500,000 | +500,000 | 0 | 123,080,000 | +123,080,000 |
| SPDR SERIES TRUST(Put) | 0 | 1,000,000 | +1,000,000 | 0 | 121,930,000 | +121,930,000 |
| OLEMA PHARMACEUTICALS INC | 0 | 2,750,000 | +2,750,000 | 0 | 68,750,000 | +68,750,000 |
| MOONLAKE IMMUNOTHERAPEUTICS | 1,994,173 | 4,355,433 | +2,361,260 | 14,298,220 | 57,404,607 | +43,106,387 |
| EYEPOINT INC | 8,325,000 | 8,265,000 | -60,000 | 118,548,000 | 151,001,550 | +32,453,550 |
| ALUMIS INC | 2,147,396 | 3,635,596 | +1,488,200 | 8,568,110 | 35,483,417 | +26,915,307 |
| ASCENDIS PHARMA A/S | 0 | 100,000 | +100,000 | 0 | 21,324,000 | +21,324,000 |
| ENGENE HOLDINGS INC | 2,323,595 | 4,000,000 | +1,676,405 | 15,870,154 | 36,120,000 | +20,249,846 |
| BRIDGEBIO PHARMA INC | 1,400,000 | 1,200,000 | -200,000 | 72,716,000 | 91,788,000 | +19,072,000 |
| BRIGHT MINDS BIOSCIENCES INC | 1,059,331 | 1,059,331 | 0 | 64,259,018 | 82,670,191 | +18,411,173 |
| BRIDGEBIO ONCOLOGY THERAPEUT | 17,878,594 | 17,878,594 | 0 | 207,034,119 | 223,839,997 | +16,805,878 |
| ABIVAX SA | 1,950,000 | 1,350,000 | -600,000 | 165,555,000 | 182,054,250 | +16,499,250 |
| EDGEWISE THERAPEUTICS INC | 4,010,000 | 3,285,000 | -725,000 | 65,042,200 | 81,517,275 | +16,475,075 |
| BIOAGE LABS INC | 2,140,605 | 2,040,605 | -100,000 | 12,586,757 | 26,997,204 | +14,410,447 |
| MBX BIOSCIENCES INC | 1,225,000 | 1,120,000 | -105,000 | 21,437,500 | 35,324,800 | +13,887,300 |
| COGENT BIOSCIENCES INC | 0 | 225,000 | +225,000 | 0 | 7,992,000 | +7,992,000 |
| ORUKA THERAPEUTICS INC | 533,340 | 533,340 | 0 | 10,256,128 | 16,165,535 | +5,909,407 |
| TARSUS PHARMACEUTICALS INC | 300,000 | 250,000 | -50,000 | 17,829,000 | 20,470,000 | +2,641,000 |
| AXSOME THERAPEUTICS INC | 100,000 | 75,000 | -25,000 | 12,145,000 | 13,698,000 | +1,553,000 |
| BIOHAVEN LTD | 10,000 | 10,000 | 0 | 150,100 | 112,900 | -37,200 |
| ARCUTIS BIOTHERAPEUTICS INC | 775,000 | 500,000 | -275,000 | 14,608,750 | 14,520,000 | -88,750 |
| VAXCYTE INC | 175,000 | 125,000 | -50,000 | 6,303,500 | 5,767,500 | -536,000 |
| AMYLYX PHARMACEUTICALS INC | 500,000 | 400,000 | -100,000 | 6,795,000 | 4,832,000 | -1,963,000 |
| CABALETTA BIO INC | 5,000,000 | 4,400,000 | -600,000 | 11,700,000 | 9,636,000 | -2,064,000 |
| CRINETICS PHARMACEUTICALS IN | 400,000 | 300,000 | -100,000 | 16,660,000 | 13,965,000 | -2,695,000 |
| RAPPORT THERAPEUTICS INC | 3,192,521 | 3,027,521 | -165,000 | 94,817,874 | 91,854,987 | -2,962,887 |
| PHARVARIS N V | 1,363,200 | 1,083,000 | -280,200 | 34,011,840 | 30,053,250 | -3,958,590 |
| GH RESEARCH PLC | 1,916,439 | 1,300,000 | -616,439 | 27,405,078 | 16,510,000 | -10,895,078 |
| CORBUS PHARMACEUTICALS HLDGS | 2,375,000 | 2,344,971 | -30,029 | 30,043,750 | 19,088,064 | -10,955,686 |
| JANUX THERAPEUTICS INC | 850,000 | 650,000 | -200,000 | 20,774,000 | 8,970,000 | -11,804,000 |
| CENTESSA PHARMACEUTICALS PLC | 1,925,000 | 1,325,000 | -600,000 | 46,681,250 | 33,138,250 | -13,543,000 |
| INSMED INC | 430,000 | 275,000 | -155,000 | 61,924,300 | 47,861,000 | -14,063,300 |
| NEWAMSTERDAM PHARMA COMPANY | 2,175,000 | 1,000,000 | -1,175,000 | 61,857,000 | 35,080,000 | -26,777,000 |