Cormorant Asset Management, LP

Diversified strategySector-focusedMomentum follower

Total reported value

$2.0B

Reporting period: 2026-03-31 · Number of holdings: 47

Cormorant Asset Management, LP disclosed 47 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $2.0B and a quarterly turnover rate of 63.7%.

Personality snowflake

Concentration: 20.65
Portfolio Stability: 63.7
Momentum/Contrarian: 100
Sector conviction: 100
Diversification: 92
Sizing Uniformity: 88.15

Recent moves

Trim ABVX
-43.7%　-$97.4M
Add ALMS
+8.6%　$51.5M
Trim BBOT
0.0%　-$63.8M
Trim EYPT
0.0%　-$44.5M
Add MLTX
+2.9%　$26.1M
Add EWTX
-0.8%　$21.2M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

Showing top 46 holdings (of 47 total)

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	PRAX	Praxis Precision Medicines I	Stock-Other	14.33%	+1.38%	-6.79%
2	BBOT	Bridgebio Oncology Therapeut	Stock-Other	8.04%	-2.31%	—
3	EYPT	Eyepoint INC	Stock-Other	5.35%	-1.63%	—
4	EWTX	Edgewise Therapeutics INC	Stock-Other	5.16%	+1.39%	-0.76%
5	ERAS	Erasca INC	Stock-Other	4.71%	+4.71%	NEW
6	RAPP	Rapport Therapeutics INC	Stock-Other	4.65%	+0.40%	-2.31%
7	ALMS	Alumis INC	Stock-Other	4.37%	+2.73%	+8.63%
8	ABVX	Abivax Sa-adr	Stock-Other	4.25%	-4.17%	-43.70%
9	MLTX	Moonlake Immunotherapeutics	Stock-Other	4.19%	+1.54%	+2.87%
10	DNTH	Dianthus Therapeutics INC	Stock-Other	4.00%	+4.00%	NEW
11	DRUG	Bright Minds Biosciences INC	Stock-Other	3.88%	+0.06%	—
12	OLMA	Olema Pharmaceuticals INC	Stock-Other	3.29%	+0.12%	+60.00%
13	BBIO	Bridgebio Pharma INC	Stock-Healthcare	3.17%	-1.07%	-29.17%
14	BIOA	Bioage Labs INC	Stock-Other	2.54%	+1.29%	+41.65%
15	260	Centessa Pharmaceuticals-adr	Stock-Other	2.09%	+0.56%	-20.75%
16	DMRA	Damora Therapeutics INC	Stock-Other	1.98%	+1.98%	NEW
17	MBX	Mbx Biosciences INC	Stock-Other	1.68%	+0.05%	—
18	INSM	Insmed INC	Stock-Healthcare	1.56%	-0.65%	-30.91%
19	NAMS	NewAmsterdam Pharma Company N.V.	Stock-Other	1.53%	-0.09%	-5.00%
20	TNGX	Tango Therapeutics INC	Stock-Other	1.50%	+1.50%	NEW
21	PHVS	Pharvaris N.V.	Stock-Other	1.42%	+0.03%	-7.66%
22	ORKA	Oruka Therapeutics INC	Stock-Other	1.31%	+0.56%	—
23	AGMB	Agomab Therapeutics NV	Stock-Other	1.30%	+1.30%	NEW
24	MAZE	Maze Therapeutics INC	Stock-Other	1.12%	+1.12%	NEW
25	CRBP	Corbus Pharmaceuticals Holdi	Stock-Other	1.11%	+0.23%	—
26	ASND	Ascendis Pharma A/S	Stock-Other	1.09%	+0.10%	-5.00%
27	ROIV	Roivant Sciences Ltd.	Stock-Healthcare	1.04%	+1.04%	NEW
28	ANL	Adlai Nortye Ltd-adr	Stock-Other	1.01%	+1.01%	NEW
29	430	Terns Pharmaceuticals INC	Stock-Other	0.79%	+0.79%	NEW
30	TARS	Tarsus Pharmaceuticals INC	Stock-Other	0.79%	-0.16%	-10.00%
31	BHVN	Biohaven Ltd.	Stock-Other	0.75%	+0.74%	+17500.00%
32	CABA	Cabaletta Bio INC	Stock-Other	0.74%	+0.29%	+25.00%
33	✓	Helix Acquisition CORP Iii	Stock-Other	0.66%	+0.66%	NEW
34	ARQT	Arcutis Biotherapeutics INC	Stock-Other	0.53%	-0.14%	-10.00%
35	FTH	Faeth Therapeutics INC	Stock-Other	0.48%	+0.48%	NEW
36	CRNX	Crinetics Pharmaceuticals In	Stock-Other	0.46%	-0.19%	-16.67%
37	✓	Zura Bio LTD	Stock-Other	0.43%	+0.43%	NEW
38	AXSM	Axsome Therapeutics INC	Stock-Healthcare	0.42%	-0.21%	-33.33%
39	GPCR	Structure Therapeutics INC	Stock-Other	0.42%	+0.42%	NEW
40	COGT	Cogent Biosciences INC	Stock-Other	0.39%	+0.02%	-11.11%
41	GLUE	Monte Rosa Therapeutics INC	Stock-Other	0.33%	+0.33%	NEW
42	ARWR	Arrowhead Pharmaceuticals In	Stock-Healthcare	0.31%	+0.31%	NEW
43	PCVX	Vaxcyte INC	Stock-Other	0.29%	—	-20.00%
44	AMLX	Amylyx Pharmaceuticals INC	Stock-Other	0.24%	—	-12.50%
45	RLYB	Rallybio CORP	Stock-Other	0.18%	+0.18%	NEW
46	CNTX	Context Therapeutics INC	Stock-Other	0.07%	+0.07%	NEW

Portfolio Performance

Performance for Q3 2026

+11.8%

Performance Last 4 Quarters

+29.2%

Based on 77% of reported portfolio value with available pricing

Stdev: +31.1%
Beta: +0.22
Alpha: +45.1%
Max Drawdown: -7.5%
Annualized Perf: +57.5%
Batting Avg vs S&P: +52.9%
Sortino: +4.88
Stutzer: +0.54
Treynor: +2.25
Sterling: +3.29
Calmar: +7.7
Information Ratio: +0.82
Tracking Error: +32.4%
Stdev Down: +10.3%
Winning Months %: +70.6%
Losing Months %: +29.4%
Best 12 Months: +92.5%
Worst 12 Months: +68.6%
Efficiency Ratio: +0.77
Sharpe: +1.62
Stdev Sectors: 0%
Skewness: +1.35
Kurtosis: +2.83
Upside Potential: +6.46

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	47	$2.0B	64	1PRAX 2BBOT 3EYPT Top holdings2026-03-31 1.PRAX 2.BBOT 3.EYPT 4.EWTX 5.ERAS 6.RAPP 7.ALMS 8.ABVX 9.MLTX 10.DNTH
2025-12-31	35	$2.2B	68	1PRAX 2BBOT 3ABVX Top holdings2025-12-31 1.PRAX 2.BBOT 3.ABVX 4.QQQ 5.EYPT 6.IWM 7.XBI 8.RAPP 9.BBIO 10.DRUG
2025-09-30	36	$1.4B	89	1BBOT 2ABVX 3EYPT Top holdings2025-09-30 1.BBOT 2.ABVX 3.EYPT 4.RAPP 5.BBIO 6.EWTX 7.DRUG 8.ACLXGBX 9.INSM 10.NAMS
2025-06-30	42	$1.3B	0	1MLTX 2EYPT 3BBIO Top holdings2025-06-30 1.MLTX 2.EYPT 3.BBIO 4.PRAX 5.N5749R 6.EWTX 7.INSM 8.ACLXGBX 9.NAMS 10.JANX
2025-03-31	44	$1.3B	100	1MLTX 2EWTX 3BBIO Top holdings2025-03-31 1.MLTX 2.EWTX 3.BBIO 4.ACLXGBX 5.PRAX 6.NAMS 7.JANX 8.EYPT 9.INSM 10.DRUG
2024-12-31	48	$1.8B	0	1MLTX 2PRAX 3JANX Top holdings2024-12-31 1.MLTX 2.PRAX 3.JANX 4.ACLXGBX 5.EWTX 6.NAMS 7.EYPT 8.RAPP 9.CRNX 10.INSM
2024-09-30	45	$1.9B	0	1MLTX 2PCVX 3ACLXGBX Top holdings2024-09-30 1.MLTX 2.PCVX 3.ACLXGBX 4.54300N 5.EWTX 6.EYPT 7.RAPP 8.CRNX 9.PRAX 10.CRBP
2024-06-30	49	$1.7B	0	1MLTX 2CRBP 3ACLXGBX Top holdings2024-06-30 1.MLTX 2.CRBP 3.ACLXGBX 4.PCVX 5.54300N 6.EYPT 7.RAPP 8.CRNX 9.EWTX 10.N5749R
2024-03-31	57	$2.3B	0	1MLTX 2EYPT 3ACLXGBX Top holdings2024-03-31 1.MLTX 2.EYPT 3.ACLXGBX 4.NVLSEUR 5.BBIO 6.PRAX 7.CRBP 8.TARS 9.54300N 10.EWTX
2023-12-31	48	$2.1B	0	1MLTX26418713EYPT Top holdings2023-12-31 1.MLTX 2.641871 3.EYPT 4.BBIO 5.ACLXGBX 6.75525N 7.BMEA 8.IMVT 9.NVLSEUR 10.PHVS
2023-09-30	49	$1.7B	0	1MLTX 2BBIO302290A Top holdings2023-09-30 1.MLTX 2.BBIO 3.02290A 4.ACLXGBX 5.APLSUSD 6.CBAYUSD 7.OLMA 8.GPCR 9.BMEA 10.IMVT
2023-06-30	64	$1.8B	0	1MLTX202290A3APLSUSD Top holdings2023-06-30 1.MLTX 2.02290A 3.APLSUSD 4.BBIO 5.BMEA 6.ACLXGBX 7.IMRX 8.CBAYUSD 9.PTGX 10.ELVN
2023-03-31	72	$1.5B	0	174349U2MLTX 3BMEA Top holdings2023-03-31 1.74349U 2.MLTX 3.BMEA 4.APLSUSD 5.02290A 6.BBIO 7.ACLXGBX 8.ETNBGBP 9.ELVN 10.RNAGBP
2022-12-31	73	$1.5B	0	174349U2APLSUSD 3ACLXGBX Top holdings2022-12-31 1.74349U 2.APLSUSD 3.ACLXGBX 4.MLTX 5.RNAGBP 6.008064 7.DSGN 8.ALT 9.ERAS 10.RVMD
2022-09-30	73	$1.4B	0	174349U2APLSUSD 3DSGN Top holdings2022-09-30 1.74349U 2.APLSUSD 3.DSGN 4.ERAS 5.ACLXGBX 6.MLTX 7.ALT 8.MRTXEUR 9.RVMD 10.008064
2022-06-30	80	$1.3B	0	1TPB 2DSGN 3ERAS Top holdings2022-06-30 1.TPB 2.DSGN 3.ERAS 4.74349U 5.APLSUSD 6.RVMD 7.BMEA 8.CCXIEUR 9.ALT 10.XBI
2022-03-31	77	$1.3B	0	1TPB 2ERAS 3DSGN Top holdings2022-03-31 1.TPB 2.ERAS 3.DSGN 4.74349U 5.39536G 6.APLSUSD 7.RVMD 8.EWTX 9.GLUE 10.34633R
2021-12-31	78	$1.7B	0	1ERAS 2TPB 3DSGN Top holdings2021-12-31 1.ERAS 2.TPB 3.DSGN 4.74349U 5.34633R 6.GLUE 7.RVMD 8.EWTX 9.TNGX 10.RNAGBP
2021-09-30	88	$2.5B	0	1ERAS 2TPB 3AVIR Top holdings2021-09-30 1.ERAS 2.TPB 3.AVIR 4.34633R 5.RVMD 6.OLMA 7.BBIO 8.DSGN 9.ALXO 10.GLUE
2021-06-30	104	$2.9B	72	1TPB 2IWM 3AVIR Top holdings2021-06-30 1.TPB 2.IWM 3.AVIR 4.34633R 5.BBIO 6.DSGN 7.RVMD 8.OLMA 9.BCABGBP 10.GLUE
2021-03-31	120	$4.5B	60	1IWM 2SPY 3AVIR Top holdings2021-03-31 1.IWM 2.SPY 3.AVIR 4.TPB 5.DSGN 6.XBI 7.BBIO 8.34633R 9.RVMD 10.BCABGBP
2020-12-31	105	$4.2B	67	1TPB 2AVIR 3QQQ Top holdings2020-12-31 1.TPB 2.AVIR 3.QQQ 4.XBI 5.SPY 6.BBIO 7.34633R 8.OLMA 9.APLSUSD 10.RVMD
2020-09-30	93	$2.6B	37	1TPB 2SPY334633R Top holdings2020-09-30 1.TPB 2.SPY 3.34633R 4.RVMD 5.CCXIEUR 6.BBIO 7.IWM 8.SRNE 9.RNAGBP 10.MYOKEUR
2020-06-30	81	$2.6B	53	1TPB 2CCXIEUR 3SPY Top holdings2020-06-30 1.TPB 2.CCXIEUR 3.SPY 4.34633R 5.PRNB 6.BBIO 7.RVMD 8.IWM 9.YMABUSD 10.RNAGBP
2020-03-31	73	$2.2B	65	1SPY 2TPB 3PRNB Top holdings2020-03-31 1.SPY 2.TPB 3.PRNB 4.CCXIEUR 5.RETAEUR 6.MRTXEUR 7.BBIO 8.XLRN 9.ASND 10.VIE
2019-12-31	67	$2.5B	66	1MRTXEUR 2RETAEUR 3TPB Top holdings2019-12-31 1.MRTXEUR 2.RETAEUR 3.TPB 4.CCXIEUR 5.PRNB 6.CNST 7.ASND 8.BBIO 9.APLSUSD 10.BHVN
2019-09-30	75	$1.6B	38	1MRTXEUR 2TPB 3SPY Top holdings2019-09-30 1.MRTXEUR 2.TPB 3.SPY 4.BHVN 5.APLSUSD 6.ASND 7.RETAEUR 8.BBIO 9.CRSP 10.STOK
2019-06-30	72	$1.7B	57	1MRTXEUR 2TPB 3BHVN Top holdings2019-06-30 1.MRTXEUR 2.TPB 3.BHVN 4.XBI 5.RETAEUR 6.APLSUSD 7.BBIO 8.ASND 9.QURE 10.STOK
2019-03-31	64	$1.5B	77	1IFRX 2XBI 3MRTXEUR Top holdings2019-03-31 1.IFRX 2.XBI 3.MRTXEUR 4.ASND 5.APLSUSD 6.ANAB 7.BHVN 8.RETAEUR 9.PRNB 10.G73268
2018-12-31	70	$1.2B	58	1T8S 2MRTXEUR 3ANAB Top holdings2018-12-31 1.T8S 2.MRTXEUR 3.ANAB 4.APLSUSD 5.IFRX 6.ARGX 7.PRNB 8.RETAEUR 9.DRNAUSD 10.SG7
2018-09-30	65	$1.5B	39	1NKTREUR 2ANAB 3MRTXEUR Top holdings2018-09-30 1.NKTREUR 2.ANAB 3.MRTXEUR 4.05455M 5.APLSUSD 6.T8S 7.DRNAUSD 8.RETAEUR 9.OMER 10.IFRX
2018-06-30	58	$1.4B	58	1NKTREUR 2APLSUSD 3MRTXEUR Top holdings2018-06-30 1.NKTREUR 2.APLSUSD 3.MRTXEUR 4.ANAB 5.IFRX 6.DRNAUSD 7.05455M 8.AUTL 9.MYOKEUR 10.SG7
2018-03-31	52	$1.3B	58	1NKTREUR 2ANAB 3APLSUSD Top holdings2018-03-31 1.NKTREUR 2.ANAB 3.APLSUSD 4.MRTXEUR 5.IFRX 6.2655787D 7.SG7 8.MYOKEUR 9.DRNAUSD 10.TBPH
2017-12-31	52	$955.3M	100	1NKTREUR 2ANAB 3APLSUSD Top holdings2017-12-31 1.NKTREUR 2.ANAB 3.APLSUSD 4.OMER 5.2655787D 6.MYOKEUR 7.DRNAUSD 8.IFRX 9.48205A 10.TBPH
2017-09-30	51	$566.4M	71	1MYOKEUR24517313OMER Top holdings2017-09-30 1.MYOKEUR 2.451731 3.OMER 4.ANAB 5.TBPH 6.PTLAEUR 7.GTHXEUR 8.09609G 9.G73268 10.CLSDUSD
2017-06-30	71	$603.3M	57	1PTLAEUR 2TBPH309609G Top holdings2017-06-30 1.PTLAEUR 2.TBPH 3.09609G 4.G73268 5.OMER 6.LKFT 7.48205A 8.NVROEUR 9.ACRS 10.ANAB
2017-03-31	75	$688.7M	36	1TBPH 2NVROEUR 3PTIEUR Top holdings2017-03-31 1.TBPH 2.NVROEUR 3.PTIEUR 4.LKFT 5.ANAB 6.ARDX 7.2655787D 8.ACRS 9.PTLAEUR 10.ALDR1EUR
2016-12-31	77	$741.8M	42	1PTIEUR 2TBPH 3NVROEUR Top holdings2016-12-31 1.PTIEUR 2.TBPH 3.NVROEUR 4.ALDR1EUR 5.EGRX 6.NERVGBP 7.ARDX 8.ACRS 9.HRTX 10.2655787D
2016-09-30	84	$906.8M	62	1ALDR1EUR 2NVROEUR 3TBPH Top holdings2016-09-30 1.ALDR1EUR 2.NVROEUR 3.TBPH 4.NERVGBP 5.PTIEUR 6.CLSDUSD 7.EGRX 8.HRTX 9.ARDX 10.MYOKEUR
2016-06-30	84	$705.2M	50	1ALDR1EUR 2NVROEUR 3HRTX Top holdings2016-06-30 1.ALDR1EUR 2.NVROEUR 3.HRTX 4.T8S 5.NKTREUR 6.NERVGBP 7.TBPH 8.SG7 9.EGRX 10.MGNX
2016-03-31	84	$663.8M	49	1ALDR1EUR 2HRTX 3SG7 Top holdings2016-03-31 1.ALDR1EUR 2.HRTX 3.SG7 4.OMER 5.NKTREUR 6.NVROEUR 7.ALKS 8.NBIX 9.EGRX 10.DVAX
2015-12-31	82	$835.9M	43	1ALKS226746E3HRTX Top holdings2015-12-31 1.ALKS 2.26746E 3.HRTX 4.EGRX 5.NBIX 6.OMER 7.ARDX 8.PTLAEUR 9.ALDR1EUR 10.G73268
2015-09-30	87	$626.1M	40	1HRTX 2ALKS 3NBIX Top holdings2015-09-30 1.HRTX 2.ALKS 3.NBIX 4.26746E 5.ARDX 6.ALDR1EUR 7.EGRX 8.OMER 9.PTLAEUR 10.SRNE
2015-06-30	80	$752.2M	58	1ALKS 2HRTX3756207 Top holdings2015-06-30 1.ALKS 2.HRTX 3.756207 4.ALDR1EUR 5.26746E 6.NBIX 7.SRNE 8.EGRX 9.ARDX 10.PTLAEUR
2015-03-31	71	$647.1M	48	17562072ALKS 3PBYI Top holdings2015-03-31 1.756207 2.ALKS 3.PBYI 4.EGRX 5.BMY 6.NBIX 7.PTLAEUR 8.SRNE 9.26746E 10.G73268
2014-12-31	70	$648.5M	79	17562072PBYI 3CELG Top holdings2014-12-31 1.756207 2.PBYI 3.CELG 4.69014Q 5.ALKS 6.NBIX 7.26746E 8.ARDX 9.G73268 10.75915K
2014-09-30	65	$486.2M	80	1PBYI27562073JAZZ Top holdings2014-09-30 1.PBYI 2.756207 3.JAZZ 4.26746E 5.492515 6.KPTIEUR 7.NBIX 8.042797 9.XLRN 10.BCRX
2014-06-30	54	$377.4M	87	17562072OMER374835Y Top holdings2014-06-30 1.756207 2.OMER 3.74835Y 4.KPTIEUR 5.26746E 6.CELG 7.BCRX 8.JAZZ 9.PBYI 10.042797
2014-03-31	46	$434.9M	90	1MODV22296783PBYI Top holdings2014-03-31 1.MODV 2.229678 3.PBYI 4.BMRN 5.756207 6.26746E 7.ICPTUSD 8.042797 9.45166R 10.PTCT
2013-12-31	37	$344.6M	0	1MODV22296783492515 Top holdings2013-12-31 1.MODV 2.229678 3.492515 4.26746E 5.PBYI 6.CELG 7.ACAD 8.45166R 9.GERN 10.ALNY

Holding changes this quarter

Cormorant Asset Management, LP's most significant position changes for 2026-03-31: Sold out: Invesco Qqq Trust Series 1 (QQQ); Sold out: Ishares Russell 2000 ETF (IWM); Sold out: Ss Spdr S&p Biotech ETF (XBI); New buy: Erasca INC (ERAS); New buy: Dianthus Therapeutics INC (DNTH).

Position changes disclosed by Cormorant Asset Management, LP for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	ALMS	Alumis INC	+2.7%	+8.63%	Add
2	MLTX	Moonlake Immunotherapeutics	+1.5%	+2.87%	Add
3	EWTX	Edgewise Therapeutics INC	+1.4%	-0.76%	Trim
4	PRAX	Praxis Precision Medicines I	+1.4%	-6.79%	Trim
5	BIOA	Bioage Labs INC	+1.3%	+41.65%	Add
6	BHVN	Biohaven Ltd.	+0.7%	+17500.00%	Add
7	ORKA	Oruka Therapeutics INC	+0.6%	—	Unchanged
8	260	Centessa Pharmaceuticals-adr	+0.6%	-20.75%	Trim
9	RAPP	Rapport Therapeutics INC	+0.4%	-2.31%	Trim
10	CABA	Cabaletta Bio INC	+0.3%	+25.00%	Add
11	CRBP	Corbus Pharmaceuticals Holdi	+0.2%	—	Unchanged
12	OLMA	Olema Pharmaceuticals INC	+0.1%	+60.00%	Add
13	ASND	Ascendis Pharma A/S	+0.1%	-5.00%	Trim
14	DRUG	Bright Minds Biosciences INC	+0.1%	—	Unchanged
15	MBX	Mbx Biosciences INC	+0.1%	—	Unchanged
16	PHVS	Pharvaris N.V.	0%	-7.66%	Trim
17	COGT	Cogent Biosciences INC	0%	-11.11%	Trim
18	NAMS	NewAmsterdam Pharma Company N.V.	-0.1%	-5.00%	Trim
19	ARQT	Arcutis Biotherapeutics INC	-0.1%	-10.00%	Trim
20	TARS	Tarsus Pharmaceuticals INC	-0.2%	-10.00%	Trim
21	CRNX	Crinetics Pharmaceuticals In	-0.2%	-16.67%	Trim
22	AXSM	Axsome Therapeutics INC	-0.2%	-33.33%	Trim
23	INSM	Insmed INC	-0.7%	-30.91%	Trim
24	BBIO	Bridgebio Pharma INC	-1.1%	-29.17%	Trim
25	EYPT	Eyepoint INC	-1.6%	—	Unchanged
26	BBOT	Bridgebio Oncology Therapeut	-2.3%	—	Unchanged
27	ABVX	Abivax Sa-adr	-4.2%	-43.70%	Trim
28	QQQ	Invesco Qqq Trust Series 1	—	EXIT	Sold out
29	IWM	Ishares Russell 2000 ETF	—	EXIT	Sold out
30	XBI	Ss Spdr S&p Biotech ETF	—	EXIT	Sold out
31	ERAS	Erasca INC	—	NEW	New buy
32	DNTH	Dianthus Therapeutics INC	—	NEW	New buy
33	DMRA	Damora Therapeutics INC	—	NEW	New buy
34	✓	Engene Holdings INC	—	EXIT	Sold out
35	TNGX	Tango Therapeutics INC	—	NEW	New buy
36	AGMB	Agomab Therapeutics NV	—	NEW	New buy
37	MAZE	Maze Therapeutics INC	—	NEW	New buy
38	ROIV	Roivant Sciences Ltd.	—	NEW	New buy
39	ANL	Adlai Nortye Ltd-adr	—	NEW	New buy
40	GHRS	GH Research PLC	—	EXIT	Sold out
41	430	Terns Pharmaceuticals INC	—	NEW	New buy
42	✓	Helix Acquisition CORP Iii	—	NEW	New buy
43	FTH	Faeth Therapeutics INC	—	NEW	New buy
44	JANX	Janux Therapeutics INC	—	EXIT	Sold out
45	✓	Zura Bio LTD	—	NEW	New buy
46	GPCR	Structure Therapeutics INC	—	NEW	New buy
47	GLUE	Monte Rosa Therapeutics INC	—	NEW	New buy
48	ARWR	Arrowhead Pharmaceuticals In	—	NEW	New buy
49	RLYB	Rallybio CORP	—	NEW	New buy
50	CNTX	Context Therapeutics INC	—	NEW	New buy

FAQ

What is Cormorant Asset Management, LP and what type of investor is it?

Cormorant Asset Management, LP is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $2.0B, spread across 47 disclosed positions.

What are Cormorant Asset Management, LP's largest equity positions?

Based on the latest 13F filing, Cormorant Asset Management, LP's top holdings by market value are: 1. Praxis Precision Medicines I (PRAX) — $285.3M (14.3%) 2. Bridgebio Oncology Therapeut (BBOT) — $160.0M (8.0%) 3. Eyepoint INC (EYPT) — $106.5M (5.3%) 4. Edgewise Therapeutics INC (EWTX) — $102.7M (5.2%) 5. Erasca INC (ERAS) — $93.8M (4.7%)

What changes did Cormorant Asset Management, LP make in its most recent portfolio filing?

In the latest reported quarter, Cormorant Asset Management, LP made 44 notable position adjustments: 17 new positions were initiated, 6 existing holdings were added to, 15 positions were partially reduced, and 6 were completely exited. The largest of these moves: Sold out: Invesco Qqq Trust Series 1 (QQQ); Sold out: Ishares Russell 2000 ETF (IWM); Sold out: Ss Spdr S&p Biotech ETF (XBI); New buy: Erasca INC (ERAS); New buy: Dianthus Therapeutics INC (DNTH)

What sectors does Cormorant Asset Management, LP focus on?

Cormorant Asset Management, LP is concentrated in the following sectors based on its current disclosed equity portfolio: • Health Care: 100.0%