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Opaleye Management Inc. 13F Portfolio Snapshot & Holdings (Q2 2026)
Opaleye Management Inc.CIK: 0001595855
Diversified strategySector-focusedMomentum follower
Total reported value
$1.1B
Reporting period: 2026-06-30 · Number of holdings: 58
Opaleye Management Inc. disclosed 58 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $1.1B and a quarterly turnover rate of 56.6%.
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Personality snowflake
- Concentration
- 26.18
- Portfolio Stability
- 56.61
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 100
- Sizing Uniformity
- 83.13
Opaleye Management Inc.'s disclosed holdings carry a Herfindahl concentration index of 0.065 — mathematically equivalent to about 15 equally-sized positions, well below its 58 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.69), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 4% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd LQDA
-3.8% $106.3M
Trim HROW
-15.3% $2.1M
Trim RYTM
-0.4% -$21.7M
Sold out CATX
New buy IMMX
Add IRON
+103.1% $35.6M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | LQDA | Liquidia CORP | Stock-Other | 17.67% | +5.97% | -3.83% | |
| 2 | ETON | Eton Pharmaceuticals Inc | Stock-Other | 9.38% | +0.08% | — | |
| 3 | HROW | Harrow Inc | Stock-Other | 9.23% | -3.92% | -15.26% | |
| 4 | IRON | Disc Medicine Inc | Stock-Other | 5.66% | +2.11% | +103.09% | |
| 5 | URGN | UroGen Pharma Ltd. | Stock-Other | 4.80% | +1.41% | +0.70% | |
| 6 | APGE | Apogee Therapeutics Inc | Stock-Other | 4.69% | +0.37% | — | |
| 7 | MGTX | MeiraGTx Holdings plc | Stock-Other | 4.34% | +1.92% | +67.20% | |
| 8 | ✓ | Stock-Other | 3.36% | -1.86% | — | ||
| 9 | RZLT | Rezolute Inc | Stock-Other | 2.97% | +0.44% | — | |
| 10 | TGTX | Tg Therapeutics Inc | Stock-Healthcare | 2.66% | +0.32% | — | |
| 11 | IMMX | Immix Biopharma Inc | Stock-Other | 2.19% | +2.19% | NEW | |
| 12 | ✓ | Crescent Biopharma Inc. | Stock-Other | 2.15% | -1.03% | +0.51% | |
| 13 | STOK | Stoke Therapeutics Inc | Stock-Other | 2.07% | -0.93% | — | |
| 14 | ACOG | Alpha Cognition Inc | Stock-Other | 1.89% | +0.04% | +13.02% | |
| 15 | EWTX | Edgewise Therapeutics Inc | Stock-Other | 1.84% | -0.23% | — | |
| 16 | RVMD | Revolution Medicines Inc | Stock-Healthcare | 1.70% | +0.42% | — | |
| 17 | GLUE | Monte Rosa Therapeutics Inc | Stock-Other | 1.63% | +1.63% | NEW | |
| 18 | ALMS | Alumis Inc | Stock-Other | 1.40% | -0.20% | — | |
| 19 | CDXS | Codexis Inc | Stock-Other | 1.39% | -0.07% | — | |
| 20 | REPL | Replimune Group Inc | Stock-Other | 1.39% | +1.39% | NEW | |
| 21 | XOMA | Xoma Royalty Corporation | Stock-Other | 1.30% | +0.06% | +12.79% | |
| 22 | MBX | Mbx Biosciences Inc | Stock-Other | 1.30% | +0.28% | — | |
| 23 | RYTM | Rhythm Pharmaceuticals Inc | Stock-Other | 1.23% | -3.42% | -0.41% | |
| 24 | EDIT | Editas Medicine Inc | Stock-Other | 1.13% | +0.50% | +100.41% | |
| 25 | PTGX | Protagonist Therapeutics Inc | Stock-Other | 1.11% | -0.28% | — | |
| 26 | CABA | Cabaletta Bio Inc | Stock-Other | 1.09% | +0.60% | +179.99% | |
| 27 | QTTB | Q32 Bio Inc | Stock-Other | 1.07% | +0.01% | -25.89% | |
| 28 | ANNX | Annexon Inc | Stock-Other | 0.89% | -0.81% | -26.47% | |
| 29 | VSTM | Verastem Inc | Stock-Other | 0.62% | +0.62% | NEW | |
| 30 | ZNTL | Zentalis Pharmaceuticals Inc | Stock-Other | 0.62% | +0.18% | — | |
| 31 | RLMD | Relmada Therapeutics Inc | Stock-Other | 0.59% | -0.27% | — | |
| 32 | OCUL | Ocular Therapeutix Inc | Stock-Other | 0.53% | -0.14% | — | |
| 33 | TRVI | Trevi Therapeutics Inc | Stock-Other | 0.52% | -0.02% | -10.17% | |
| 34 | BBOT | Bridgebio Oncology Therapeut | Stock-Other | 0.48% | +0.42% | +1213.76% | |
| 35 | LYEL | Lyell Immunopharma Inc | Stock-Other | 0.44% | +0.23% | +334.94% | |
| 36 | IRD | Opus Genetics Inc | Stock-Other | 0.42% | +0.12% | +0.45% | |
| 37 | FDMT | 4d Molecular Therapeutics In | Stock-Other | 0.40% | +0.26% | +197.83% | |
| 38 | NTLA | Intellia Therapeutics Inc | Stock-Other | 0.38% | -0.03% | +2.04% | |
| 39 | VYGR | Voyager Therapeutics Inc | Stock-Other | 0.38% | -0.20% | +3.04% | |
| 40 | BDSX | Biodesix Inc | Stock-Other | 0.37% | -0.08% | -24.38% | |
| 41 | RCKT | Rocket Pharmaceuticals Inc | Stock-Other | 0.31% | -0.14% | +4.71% | |
| 42 | JBIO | Jade Biosciences Inc | Stock-Other | 0.29% | -0.50% | -66.09% | |
| 43 | SNWV | Sanuwave Health Inc | Stock-Other | 0.28% | -1.95% | -68.80% | |
| 44 | FBIO | Fortress Biotech Inc | Stock-Other | 0.25% | -0.13% | -14.59% | |
| 45 | DERM | Journey Medical CORP | Stock-Other | 0.22% | -0.37% | -63.54% | |
| 46 | PHAT | Phathom Pharmaceuticals Inc | Stock-Other | 0.18% | +0.18% | NEW | |
| 47 | INBX | Inhibrx Biosciences Inc | Stock-Other | 0.17% | +0.17% | NEW | |
| 48 | ENTA | Enanta Pharmaceuticals Inc | Stock-Other | 0.17% | -0.04% | — | |
| 49 | ✓ | Stock-Other | 0.16% | +0.16% | NEW | ||
| 50 | ✓ | Stock-Other | 0.12% | +0.12% | NEW |
1–50 of 58
Portfolio Performance
Performance for Q3 2026
+23.9%
Performance Last 4 Quarters
+67.8%
Based on 90% of reported portfolio value with available pricing
- Stdev
- +36.2%
- Beta
- +1.14
- Alpha
- +16.3%
- Max Drawdown
- -26.6%
- Annualized Perf
- +38.4%
- Batting Avg vs S&P
- +50%
- Sortino
- +2.17
- Stutzer
- +0.32
- Treynor
- +0.34
- Sterling
- +1.32
- Calmar
- +1.45
- Information Ratio
- +0.57
- Tracking Error
- +33.2%
- Stdev Down
- +18%
- Winning Months %
- +61.1%
- Losing Months %
- +38.9%
- Best 12 Months
- +111.8%
- Worst 12 Months
- -21.6%
- Efficiency Ratio
- +0.56
- Sharpe
- +1.08
- Stdev Sectors
- 0%
- Skewness
- +0.4
- Kurtosis
- +0.64
- Upside Potential
- +3.79
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 58 | $1.1B | 57 | ||
| 2026 Q1 | 54 | $759.2M | 48 | ||
| 2025 Q4 | 54 | $757.9M | 45 | ||
| 2025 Q3 | 43 | $707.3M | 67 | ||
| 2025 Q2 | 41 | $494.1M | 0 | ||
| 2025 Q1 | 45 | $449.2M | 100 | ||
| 2024 Q4 | 39 | $571.4M | 0 | ||
| 2024 Q3 | 44 | $599.6M | 0 | ||
| 2024 Q2 | 51 | $437.7M | 0 | ||
| 2024 Q1 | 52 | $458.9M | 0 | ||
| 2023 Q4 | 47 | $376.1M | 0 | ||
| 2023 Q3 | 41 | $307.4M | 0 | ||
| 2023 Q2 | 47 | $418.1M | 0 | ||
| 2023 Q1 | 41 | $333.9M | 0 | ||
| 2022 Q4 | 40 | $287.6M | 0 | ||
| 2022 Q3 | 42 | $242.1M | 0 | ||
| 2022 Q2 | 47 | $221.9M | 0 | ||
| 2022 Q1 | 45 | $322.0M | 0 | ||
| 2021 Q4 | 39 | $471.5M | 0 | ||
| 2021 Q3 | 48 | $535.4M | 0 | ||
| 2021 Q2 | 48 | $602.1M | 37 | ||
| 2021 Q1 | 58 | $680.8M | 64 | ||
| 2020 Q4 | 59 | $765.6M | 60 | ||
| 2020 Q3 | 55 | $511.3M | 53 | ||
| 2020 Q2 | 48 | $495.2M | 92 | ||
| 2020 Q1 | 44 | $377.4M | 82 | ||
| 2019 Q4 | 47 | $509.7M | 74 | ||
| 2019 Q3 | 49 | $276.5M | 64 | ||
| 2019 Q2 | 43 | $328.1M | 62 | ||
| 2019 Q1 | 53 | $361.1M | 81 | ||
| 2018 Q4 | 47 | $268.0M | 66 | ||
| 2018 Q3 | 47 | $393.0M | 37 | ||
| 2018 Q2 | 36 | $386.4M | 66 | ||
| 2018 Q1 | 38 | $349.7M | 48 | ||
| 2017 Q4 | 35 | $312.3M | 56 | ||
| 2017 Q3 | 34 | $282.8M | 46 | ||
| 2017 Q2 | 41 | $239.4M | 50 | ||
| 2017 Q1 | 44 | $200.9M | 63 | ||
| 2016 Q4 | 40 | $169.7M | 60 | ||
| 2016 Q3 | 44 | $191.1M | 100 | ||
| 2016 Q2 | 49 | $149.7M | 84 | 1H03579262957M3023111 | |
| 2016 Q1 | 52 | $160.4M | 65 | ||
| 2015 Q4 | 53 | $239.2M | 52 | ||
| 2015 Q3 | 49 | $203.2M | 55 | ||
| 2015 Q2 | 46 | $251.3M | 42 | ||
| 2015 Q1 | 37 | $215.4M | 66 | ||
| 2014 Q4 | 36 | $197.9M | 65 | ||
| 2014 Q3 | 30 | $128.3M | 48 | ||
| 2014 Q2 | 27 | $116.0M | 65 | ||
| 2014 Q1 | 30 | $135.4M | 94 | ||
| 2013 Q4 | 23 | $127.4M | 0 |
Holding changes this quarter
Opaleye Management Inc.'s most significant position changes for 2026-06-30: New buy: Immix Biopharma Inc (IMMX); Sold out: Perspective Therapeutics Inc (CATX); New buy: Monte Rosa Therapeutics Inc (GLUE); New buy: Replimune Group Inc (REPL); New buy: Verastem Inc (VSTM).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | LQDA | Liquidia CORP | +6% | -3.83% | Trim |
| 2 | IMMX | Immix Biopharma Inc | +2.2% | NEW | New buy |
| 3 | IRON | Disc Medicine Inc | +2.1% | +103.09% | Add |
| 4 | MGTX | MeiraGTx Holdings plc | +1.9% | +67.20% | Add |
| 5 | GLUE | Monte Rosa Therapeutics Inc | +1.6% | NEW | New buy |
| 6 | URGN | UroGen Pharma Ltd. | +1.4% | +0.70% | Add |
| 7 | REPL | Replimune Group Inc | +1.4% | NEW | New buy |
| 8 | VSTM | Verastem Inc | +0.6% | NEW | New buy |
| 9 | CABA | Cabaletta Bio Inc | +0.6% | +179.99% | Add |
| 10 | EDIT | Editas Medicine Inc | +0.5% | +100.41% | Add |
| 11 | RZLT | Rezolute Inc | +0.4% | — | Unchanged |
| 12 | RVMD | Revolution Medicines Inc | +0.4% | — | Unchanged |
| 13 | BBOT | Bridgebio Oncology Therapeut | +0.4% | +1213.76% | Add |
| 14 | APGE | Apogee Therapeutics Inc | +0.4% | — | Unchanged |
| 15 | TGTX | Tg Therapeutics Inc | +0.3% | — | Unchanged |
| 16 | MBX | Mbx Biosciences Inc | +0.3% | — | Unchanged |
| 17 | FDMT | 4d Molecular Therapeutics In | +0.3% | +197.83% | Add |
| 18 | LYEL | Lyell Immunopharma Inc | +0.2% | +334.94% | Add |
| 19 | ZNTL | Zentalis Pharmaceuticals Inc | +0.2% | — | Unchanged |
| 20 | PHAT | Phathom Pharmaceuticals Inc | +0.2% | NEW | New buy |
| 21 | INBX | Inhibrx Biosciences Inc | +0.2% | NEW | New buy |
| 22 | ✓ | +0.2% | NEW | New buy | |
| 23 | IRD | Opus Genetics Inc | +0.1% | +0.45% | Add |
| 24 | ✓ | +0.1% | NEW | New buy | |
| 25 | BHVN | Biohaven Ltd. | +0.1% | NEW | New buy |
| 26 | KTTA | Pasithea Therapeutics CORP | +0.1% | NEW | New buy |
| 27 | ETON | Eton Pharmaceuticals Inc | +0.1% | — | Unchanged |
| 28 | ✓ | Adc Therapeutics SA | +0.1% | NEW | New buy |
| 29 | XOMA | Xoma Royalty Corporation | +0.1% | +12.79% | Add |
| 30 | ✓ | Okyo Pharma LTD | +0.1% | NEW | New buy |
| 31 | ACOG | Alpha Cognition Inc | 0% | +13.02% | Add |
| 32 | PTN | Palatin Technologies Inc | 0% | NEW | New buy |
| 33 | QTTB | Q32 Bio Inc | 0% | -25.89% | Trim |
| 34 | ADGM | Adagio Medical Holdings Inc | — | — | Unchanged |
| 35 | TRVI | Trevi Therapeutics Inc | 0% | -10.17% | Trim |
| 36 | NTLA | Intellia Therapeutics Inc | 0% | +2.04% | Add |
| 37 | ENTA | Enanta Pharmaceuticals Inc | 0% | — | Unchanged |
| 38 | LBRX | Lb Pharmaceuticals Inc | -0.1% | EXIT | Sold out |
| 39 | CDXS | Codexis Inc | -0.1% | — | Unchanged |
| 40 | BDSX | Biodesix Inc | -0.1% | -24.38% | Trim |
| 41 | PLX | Protalix Biotherapeutics Inc | -0.1% | EXIT | Sold out |
| 42 | ✓ | Perspective Therapeutics Inc | -0.1% | EXIT | Sold out |
| 43 | AVIR | Atea Pharmaceuticals Inc | -0.1% | -27.15% | Trim |
| 44 | FBIO | Fortress Biotech Inc | -0.1% | -14.59% | Trim |
| 45 | OCUL | Ocular Therapeutix Inc | -0.1% | — | Unchanged |
| 46 | RCKT | Rocket Pharmaceuticals Inc | -0.1% | +4.71% | Add |
| 47 | ALMS | Alumis Inc | -0.2% | — | Unchanged |
| 48 | NXTC | Nextcure Inc | -0.2% | EXIT | Sold out |
| 49 | VYGR | Voyager Therapeutics Inc | -0.2% | +3.04% | Add |
| 50 | EWTX | Edgewise Therapeutics Inc | -0.2% | — | Unchanged |
1–50 of 67
Filing History
FAQ
What is Opaleye Management Inc. and what type of investor is it?
Opaleye Management Inc. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $1.1B, spread across 58 disclosed positions.
What are Opaleye Management Inc.'s largest equity positions?
Based on the latest 13F filing, Opaleye Management Inc.'s top holdings by market value are:
1. Liquidia CORP (LQDA) — $195.1M (17.7%)
2. Eton Pharmaceuticals Inc (ETON) — $103.5M (9.4%)
3. Harrow Inc (HROW) — $101.9M (9.2%)
4. Disc Medicine Inc (IRON) — $62.5M (5.7%)
5. UroGen Pharma Ltd. (URGN) — $53.0M (4.8%)
What changes did Opaleye Management Inc. make in its most recent portfolio filing?
In the latest reported quarter, Opaleye Management Inc. made 50 notable position adjustments: 13 new positions were initiated, 15 existing holdings were added to, 13 positions were partially reduced, and 9 were completely exited. The largest of these moves: New buy: Immix Biopharma Inc (IMMX); Sold out: Perspective Therapeutics Inc (CATX); New buy: Monte Rosa Therapeutics Inc (GLUE); New buy: Replimune Group Inc (REPL); New buy: Verastem Inc (VSTM)
What sectors does Opaleye Management Inc. focus on?
Opaleye Management Inc. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Health Care: 100.0%
Investment Profile
Opaleye Management Inc. returned an annualized 38.4% over the trailing 36 months — outperforming the S&P 500 by 16.3 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.14 (more volatile than the market) and a 50% quarterly batting average against the index.
Its portfolio is broadly diversified and fast-trading, with 100.0% of the portfolio concentrated in Health Care.
Its turnover score has risen from 0 to 57 over the past 4 quarters — a shift toward more active trading.
It has added to its LQDA position over the past two quarters (+$110.2M, now $195.1M), while trimming SNWV over the same stretch (-$26.2M, still holding $3.1M).
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Developer Access
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