Cormorant Asset Management, LP
CIK 0001583977
Annualised vol
10.495497%
Beta
0.112292
HHI
461.557539
Top-10 weight
59.192558%
VaR 95%
0.863517%
VaR 99%
2.063828%
Max drawdown
32.753775%
Matched value
68.000775%
Returns of reported holdings
Loading returns…
Position changes vs prior quarter
What the latest 13F shows bought and sold against the quarter before, by share count.
| Ticker | Change | Shares now | Shares before | Share change % | Value now ($) |
|---|---|---|---|---|---|
| PBLS | NEW | 4,615,612 | - | - | 126,329,300 |
| RAPP | REDUCED | 2,657,521 | 2,957,521 | -10.14% | 110,738,900 |
| ERAS | ADDED | 6,000,000 | 5,800,000 | 3.45% | 109,920,000 |
| EWTX | REDUCED | 2,510,000 | 3,260,000 | -23.01% | 101,981,300 |
| EYPT | REDUCED | 7,000,000 | 8,265,000 | -15.31% | 100,100,000 |
| ALMS | REDUCED | 3,285,596 | 3,949,241 | -16.8% | 92,456,671 |
| DRUG | REDUCED | 900,000 | 1,059,331 | -15.04% | 63,180,000 |
| MLTX | REDUCED | 3,205,433 | 4,480,433 | -28.46% | 62,409,781 |
| BIOA | REDUCED | 2,390,605 | 2,890,605 | -17.3% | 58,593,729 |
| ORKA | UNCHANGED | 533,340 | 533,340 | 0.0% | 50,757,968 |
| ANL | ADDED | 3,978,229 | 2,897,857 | 37.28% | 45,749,634 |
| BBIO | REDUCED | 550,000 | 850,000 | -35.29% | 40,964,000 |
| TNGX | REDUCED | 1,300,000 | 1,425,000 | -8.77% | 40,638,000 |
| BHVN | ADDED | 2,610,000 | 1,760,000 | 48.3% | 38,836,800 |
| AGMB | UNCHANGED | 2,465,348 | 2,465,348 | 0.0% | 32,000,217 |
| MBX | REDUCED | 550,000 | 1,120,000 | -50.89% | 30,360,000 |
| CLYM | NEW | 2,106,000 | - | - | 27,462,240 |
| OLMA | REDUCED | 2,150,000 | 4,400,000 | -51.14% | 26,896,500 |
| DMRA | REDUCED | 1,000,000 | 1,525,000 | -34.43% | 26,010,000 |
| PHVS | REDUCED | 750,000 | 1,000,000 | -25.0% | 25,935,000 |
| SYRE | NEW | 225,000 | - | - | 19,975,500 |
| DFTX | NEW | 400,000 | - | - | 18,816,000 |
| ROIV | REDUCED | 475,000 | 750,000 | -36.67% | 16,810,250 |
| CABA | REDUCED | 5,000,000 | 5,500,000 | -9.09% | 15,550,000 |
| HLXC | UNCHANGED | 1,297,500 | 1,297,500 | 0.0% | 13,805,400 |
| ASND | REDUCED | 50,000 | 95,000 | -47.37% | 13,336,000 |
| KLRA | NEW | 550,000 | - | - | 12,116,500 |
| INSM | REDUCED | 75,000 | 190,000 | -60.53% | 7,996,500 |
| FTH | NEW | 1,028,242 | - | - | 7,655,550 |
| ELVN | NEW | 150,000 | - | - | 7,612,500 |
| TARS | REDUCED | 100,000 | 225,000 | -55.56% | 6,294,000 |
| IBIO | NEW | 3,570,000 | - | - | 6,247,500 |
| ARQT | REDUCED | 175,000 | 450,000 | -61.11% | 4,588,500 |
| GPCR | REDUCED | 75,000 | 175,000 | -57.14% | 4,025,250 |
| RACC | NEW | 370,000 | - | - | 3,959,000 |
| COGT | REDUCED | 100,000 | 200,000 | -50.0% | 3,870,000 |
| ALT | NEW | 1,250,000 | - | - | 3,800,000 |
| AMLX | REDUCED | 200,000 | 350,000 | -42.86% | 3,592,000 |
| ODTX | NEW | 175,000 | - | - | 3,274,250 |
| PCVX | REDUCED | 50,000 | 100,000 | -50.0% | 2,906,500 |
| BOLD | NEW | 1,000,000 | - | - | 2,500,000 |
| QNCX | NEW | 5,498 | - | - | 100,009 |
| ZURA | CLOSED OUT | 0 | 1,450,000 | -100.0% | 0 |
| MAZE | CLOSED OUT | 0 | 750,000 | -100.0% | 0 |
| CNTX | CLOSED OUT | 0 | 529,550 | -100.0% | 0 |
| GLUE | CLOSED OUT | 0 | 400,000 | -100.0% | 0 |
| RLYB | CLOSED OUT | 0 | 400,000 | -100.0% | 0 |
| AXSM | CLOSED OUT | 0 | 50,000 | -100.0% | 0 |
Holdings (latest quarter)
| Ticker | Change | Issuer | Class | CUSIP | Value ($) | Weight % | Shares |
|---|---|---|---|---|---|---|---|
| - | PRAXIS PRECISION MEDICINES I | COM NEW | 74006W207 | 214,265,600 | 10.98 | 640000.0 | |
| - | BRIDGEBIO ONCOLOGY THERAPEUT | COM NEW | 107924102 | 136,234,886 | 6.98 | 1.7878594E7 | |
| PBLS | NEW | PARABILIS MEDICINES INC | COM | 698955101 | 126,329,300 | 6.47 | 4615612.0 |
| RAPP | REDUCED | RAPPORT THERAPEUTICS INC | COM | 75383L102 | 110,738,900 | 5.67 | 2657521.0 |
| ERAS | ADDED | ERASCA INC | COM | 29479A108 | 109,920,000 | 5.63 | 6000000.0 |
| EWTX | REDUCED | EDGEWISE THERAPEUTICS INC | COM | 28036F105 | 101,981,300 | 5.23 | 2510000.0 |
| EYPT | REDUCED | EYEPOINT INC | COM NEW | 30233G209 | 100,100,000 | 5.13 | 7000000.0 |
| ALMS | REDUCED | ALUMIS INC | COM | 022307102 | 92,456,671 | 4.74 | 3285596.0 |
| - | ABIVAX SA | SPONSORED ADS | 00370M103 | 89,950,500 | 4.61 | 675000.0 | |
| - | DIANTHUS THERAPEUTICS INC | COM | 252828108 | 73,110,000 | 3.75 | 750000.0 | |
| DRUG | REDUCED | BRIGHT MINDS BIOSCIENCES INC | COM NEW | 10919W405 | 63,180,000 | 3.24 | 900000.0 |
| MLTX | REDUCED | MOONLAKE IMMUNOTHERAPEUTICS | CLASS A ORD | 61559X104 | 62,409,781 | 3.2 | 3205433.0 |
| BIOA | REDUCED | BIOAGE LABS INC | COM | 09077V100 | 58,593,729 | 3.0 | 2390605.0 |
| ORKA | UNCHANGED | ORUKA THERAPEUTICS INC | COM | 687604108 | 50,757,968 | 2.6 | 533340.0 |
| ANL | ADDED | ADLAI NORTYE LTD | SPONSORED ADS | 00704R109 | 45,749,634 | 2.34 | 3978229.0 |
| BBIO | REDUCED | BRIDGEBIO PHARMA INC | COM | 10806X102 | 40,964,000 | 2.1 | 550000.0 |
| TNGX | REDUCED | TANGO THERAPEUTICS INC | COM | 87583X109 | 40,638,000 | 2.08 | 1300000.0 |
| BHVN | ADDED | BIOHAVEN LTD | COM | G1110E107 | 38,836,800 | 1.99 | 2610000.0 |
| AGMB | UNCHANGED | AGOMAB THERAPEUTICS NV | SPONSORED ADS | 00860C102 | 32,000,217 | 1.64 | 2465348.0 |
| MBX | REDUCED | MBX BIOSCIENCES INC | COM | 55287L101 | 30,360,000 | 1.56 | 550000.0 |
| CLYM | NEW | CLIMB BIO INC | COM | 28658R106 | 27,462,240 | 1.41 | 2106000.0 |
| OLMA | REDUCED | OLEMA PHARMACEUTICALS INC | COM | 68062P106 | 26,896,500 | 1.38 | 2150000.0 |
| DMRA | REDUCED | DAMORA THERAPEUTICS INC | COM | 36322Q206 | 26,010,000 | 1.33 | 1000000.0 |
| PHVS | REDUCED | PHARVARIS N V | COM | N69605108 | 25,935,000 | 1.33 | 750000.0 |
| - | CORBUS PHARMACEUTICALS HLDGS | COM NEW | 21833P301 | 21,995,828 | 1.13 | 2344971.0 | |
| SYRE | NEW | SPYRE THERAPEUTICS INC | COM NEW | 00773J202 | 19,975,500 | 1.02 | 225000.0 |
| DFTX | NEW | DEFINIUM THERAPEUTICS INC | COM SHS | 24477V105 | 18,816,000 | 0.96 | 400000.0 |
| - | NEWAMSTERDAM PHARMA COMPANY | ORDINARY SHARES | N62509109 | 16,945,000 | 0.87 | 500000.0 | |
| ROIV | REDUCED | ROIVANT SCIENCES LTD | SHS | G76279101 | 16,810,250 | 0.86 | 475000.0 |
| CABA | REDUCED | CABALETTA BIO INC | COM | 12674W109 | 15,550,000 | 0.8 | 5000000.0 |
| HLXC | UNCHANGED | HELIX ACQUISITION CORP III | USD CL A ORD SHS | G4444S107 | 13,805,400 | 0.71 | 1297500.0 |
| ASND | REDUCED | ASCENDIS PHARMA A/S | ORD SHS | K08588103 | 13,336,000 | 0.68 | 50000.0 |
| KLRA | NEW | KAILERA THERAPEUTICS INC | COMMON STOCK | 482931102 | 12,116,500 | 0.62 | 550000.0 |
| INSM | REDUCED | INSMED INC | COM PAR $.01 | 457669307 | 7,996,500 | 0.41 | 75000.0 |
| FTH | NEW | FAETH THERAPEUTICS INC | COM NEW | 81728A207 | 7,655,550 | 0.39 | 1028242.0 |
| ELVN | NEW | ENLIVEN THERAPEUTICS INC | COM | 29337E102 | 7,612,500 | 0.39 | 150000.0 |
| TARS | REDUCED | TARSUS PHARMACEUTICALS INC | COM | 87650L103 | 6,294,000 | 0.32 | 100000.0 |
| IBIO | NEW | IBIO INC | COM NEW | 451033708 | 6,247,500 | 0.32 | 3570000.0 |
| - | CRINETICS PHARMACEUTICALS IN | COM | 22663K107 | 4,677,500 | 0.24 | 125000.0 | |
| ARQT | REDUCED | ARCUTIS BIOTHERAPEUTICS INC | COM | 03969K108 | 4,588,500 | 0.24 | 175000.0 |
| - | ARROWHEAD PHARMACEUTICALS IN | COM | 04280A100 | 4,075,500 | 0.21 | 50000.0 | |
| GPCR | REDUCED | STRUCTURE THERAPEUTICS INC | SPONSORED ADS | 86366E106 | 4,025,250 | 0.21 | 75000.0 |
| RACC | NEW | RESEARCH ALLIANCE CORP III | ORD SHS CL A | G75226103 | 3,959,000 | 0.2 | 370000.0 |
| COGT | REDUCED | COGENT BIOSCIENCES INC | COM | 19240Q201 | 3,870,000 | 0.2 | 100000.0 |
| ALT | NEW | ALTIMMUNE INC | COM NEW | 02155H200 | 3,800,000 | 0.19 | 1250000.0 |
| AMLX | REDUCED | AMYLYX PHARMACEUTICALS INC | COM | 03237H101 | 3,592,000 | 0.18 | 200000.0 |
| ODTX | NEW | ODYSSEY THERAPEUTICS INC | COMMON STOCK | 67613T104 | 3,274,250 | 0.17 | 175000.0 |
| PCVX | REDUCED | VAXCYTE INC | COM | 92243G108 | 2,906,500 | 0.15 | 50000.0 |
| BOLD | NEW | BOUNDLESS BIO INC | COM | 10170A100 | 2,500,000 | 0.13 | 1000000.0 |
| QNCX | NEW | QUINCE THERAPEUTICS INC | COM | 22053A305 | 100,009 | 0.01 | 5498.0 |
Quarterly portfolios
| Period | Filed | Value ($) | Positions | Vol % | Beta | Max DD % |
|---|---|---|---|---|---|---|
| 2026-06-30 | 2026-08-14 | 1,951,406,063 | 50 | 10.495497 | 0.112292 | 32.753775 |
| 2026-03-31 | 2026-05-15 | 1,991,046,371 | 47 | 10.042999 | 0.131325 | 29.974577 |
| 2025-12-31 | 2026-02-17 | 2,162,580,277 | 35 | 7.663265 | 0.121659 | 19.910969 |
| 2025-09-30 | 2025-11-14 | 1,449,259,159 | 36 | 7.584099 | 0.149584 | 13.781707 |
| 2025-03-31 | 2025-05-15 | 1,329,946,765 | 44 | 12.386099 | 0.175433 | 18.640726 |
| 2024-12-31 | 2025-02-14 | 1,820,860,799 | 48 | 11.704975 | 0.135565 | 21.555354 |