Cormorant Asset Management, LP
Cormorant Asset Management, LP reported 50 US-listed holdings worth $1.95 billion in its 13F for the quarter ended 30 June 2026, filed 14 August 2026. Its largest: Praxis Precision Medicines I (11.0%), Bridgebio Oncology Therapeutics Ord (7.0%) and Parabilis Medicines Inc. Com (6.5%). Against the quarter before, it opened 13 positions, added to 4, trimmed 28 and sold out of 9.
Reported holdings$1.95B-1.6% on Q1 2026
Positions50+4 on Q1 2026
The largest ten59.2%of its reported holdings
Latest 13FQ2 2026filed 14 August 2026
OpenedAdded toHeldTrimmed
The 14 largest of its 50 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q1 2026.
What the fund reported holding at each quarter's end; hover a bar for the number of positions
What it did on the quarter
Opened 13Added 4Held 5Trimmed 28Sold out 9
Its positions against its 13F for the quarter to 31 March 2026; a change under 0.1% of a position counts as held
Opened 13
- Parabilis Medicines Inc. Com PBLS$126.3 million
- Eliem Therapeutics Inc. CLYM$27.5 million
- Spyre Therapeutics Inc. SYRE$20.0 million
- Definium Therapeutics Inc. DFTX$18.8 million
- Ascendis Pharma A/s ASND$13.3 million
- Kailera Therapeutics Inc. KLRA$12.1 million
- Enliven Therapeutics Inc. ELVN$7.6 million
- Ibio Inc. Com IBIO$6.2 million
and 5 more in the table below
Added to 4
- Biohaven Ltd BHVN+850,000 shares · +48%
- Adlai Nortye Ltd ANL+1.1 million shares · +37%
- Sensei Biotherapeutics Inc. FTH+722,020 shares · +236%
- Erasca Inc. ERAS+200,000 shares · +3%
Trimmed 28
- Praxis Precision Medicines I PRAX-245,500 shares · -28%
- MBX Biosciences Inc. MBX-570,000 shares · -51%
- Edgewise Therapeutics Inc. EWTX-750,000 shares · -23%
- Moonlake Immunotherapeutics MLTX-1.3 million shares · -28%
- Bridgebio Pharma Inc. BBIO-300,000 shares · -35%
- Olema Pharmaceuticals Inc. OLMA-1.8 million shares · -45%
- Dianthus Therapeutics Inc. DNTH-200,000 shares · -21%
- Alumis Inc. ALMS-663,645 shares · -17%
and 20 more in the table below
Sold out of 9
- Centessa Pharmaceuticals PLC CNTA$41.7 million last quarter
- Maze Therapeatics MAZE$22.4 million last quarter
- Ascendis Pharma A/s ASND$21.7 million last quarter
- Terns Pharmaceuticals Inc. TERN$15.8 million last quarter
- Zura Bio Ltd ZURA$8.6 million last quarter
- Axsome Therapeutics Inc. AXSM$8.5 million last quarter
- Monte Rosa Therapeutics Inc. GLUE$6.6 million last quarter
- Rallybio Corp. Com RLYB$3.6 million last quarter
What it holds
| Company | Shares | Value | Of its book | Change in shares |
|---|---|---|---|---|
| Praxis Precision Medicines I PRAX | 640,000 | $214.3 million | 10.98% | -245,500 |
| Bridgebio Oncology Therapeutics Ord BBOT | 17,878,594 | $136.2 million | 6.98% | no change |
| Parabilis Medicines Inc. Com PBLS | 4,615,612 | $126.3 million | 6.47% | new |
| Rapport Therapeutics Inc. RAPP | 2,657,521 | $110.7 million | 5.67% | -300,000 |
| Erasca Inc. ERAS | 6,000,000 | $109.9 million | 5.63% | +200,000 |
| Edgewise Therapeutics Inc. EWTX | 2,510,000 | $102.0 million | 5.23% | -750,000 |
| Eyepoint Pharmaceuticals Inc. EYPT | 7,000,000 | $100.1 million | 5.13% | -1,265,000 |
| Alumis Inc. ALMS | 3,285,596 | $92.5 million | 4.74% | -663,645 |
| Abivax SA ABVX | 675,000 | $90.0 million | 4.61% | -85,000 |
| Dianthus Therapeutics Inc. DNTH | 750,000 | $73.1 million | 3.75% | -200,000 |
| Bright Minds Biosciences Inc. DRUG | 900,000 | $63.2 million | 3.24% | -159,331 |
| Moonlake Immunotherapeutics MLTX | 3,205,433 | $62.4 million | 3.20% | -1,275,000 |
| Bioage Labs Inc. BIOA | 2,390,605 | $58.6 million | 3.00% | -500,000 |
| Oruka Therapeutics Inc. ORKA | 533,340 | $50.8 million | 2.60% | no change |
| Adlai Nortye Ltd ANL | 3,978,229 | $45.7 million | 2.34% | +1,080,372 |
| Bridgebio Pharma Inc. BBIO | 550,000 | $41.0 million | 2.10% | -300,000 |
| Tango Therapeutics Inc. TNGX | 1,300,000 | $40.6 million | 2.08% | -125,000 |
| Biohaven Ltd BHVN | 2,610,000 | $38.8 million | 1.99% | +850,000 |
| Agomab Therapeutics NV AGMB | 2,465,348 | $32.0 million | 1.64% | no change |
| MBX Biosciences Inc. MBX | 550,000 | $30.4 million | 1.56% | -570,000 |
| Eliem Therapeutics Inc. CLYM | 2,106,000 | $27.5 million | 1.41% | new |
| Olema Pharmaceuticals Inc. OLMA | 2,150,000 | $26.9 million | 1.38% | -1,750,000 |
| Galecto Inc. DMRA | 1,000,000 | $26.0 million | 1.33% | -525,000 |
| Pharvaris N V PHVS | 750,000 | $25.9 million | 1.33% | -250,000 |
| Corbus Pharmaceuticals Hldgs CRBP | 2,344,971 | $22.0 million | 1.13% | no change |
| Spyre Therapeutics Inc. SYRE | 225,000 | $20.0 million | 1.02% | new |
| Definium Therapeutics Inc. DFTX | 400,000 | $18.8 million | 0.96% | new |
| Newamsterdam Pharma Company NAMS | 500,000 | $16.9 million | 0.87% | -450,000 |
| Roivant Sciences Ltd. ROIV | 475,000 | $16.8 million | 0.86% | -275,000 |
| Cabaletta Bio Inc. CABA | 5,000,000 | $15.6 million | 0.80% | -500,000 |
| Helix Acquisition Corp. III HLXC | 1,297,500 | $13.8 million | 0.71% | no change |
| Ascendis Pharma A/s ASND | 50,000 | $13.3 million | 0.68% | new |
| Kailera Therapeutics Inc. KLRA | 550,000 | $12.1 million | 0.62% | new |
| Insmed Inc. INSM | 75,000 | $8.0 million | 0.41% | -115,000 |
| Sensei Biotherapeutics Inc. FTH | 1,028,242 | $7.7 million | 0.39% | +722,020 |
| Enliven Therapeutics Inc. ELVN | 150,000 | $7.6 million | 0.39% | new |
| Tarsus Pharmaceuticals Inc. TARS | 100,000 | $6.3 million | 0.32% | -125,000 |
| Ibio Inc. Com IBIO | 3,570,000 | $6.2 million | 0.32% | new |
| Crinetics Pharmaceuticals in CRNX | 125,000 | $4.7 million | 0.24% | -125,000 |
| Arcutis Biotherapeutics Inc. ARQT | 175,000 | $4.6 million | 0.24% | -275,000 |
| Arrowhead Pharmaceuticals, Inc. ARWR | 50,000 | $4.1 million | 0.21% | -50,000 |
| Structure Therapeutics Inc. GPCR | 75,000 | $4.0 million | 0.21% | -100,000 |
| Research Alliance Corp Iii Ord Shs Cl A RACC | 370,000 | $4.0 million | 0.20% | new |
| Cogent Biosciences Inc. COGT | 100,000 | $3.9 million | 0.20% | -100,000 |
| Altimmune, Inc. (alt) ALT | 1,250,000 | $3.8 million | 0.19% | new |
| Amylyx Pharmaceuticals Inc. AMLX | 200,000 | $3.6 million | 0.18% | -150,000 |
| Odyssey Therapeutics, Inc. ODTX | 175,000 | $3.3 million | 0.17% | new |
| Vaxcyte Inc. PCVX | 50,000 | $2.9 million | 0.15% | -50,000 |
| Boundless Bio Inc. BOLD | 1,000,000 | $2.5 million | 0.13% | new |
| Quince Therapeutics Inc. Com QNCX | 5,498 | $100,009 | 0.01% | new |
Every US-listed position in the fund's 13F for the quarter ended 30 June 2026, by the value it reported.