Cormorant Asset Management, LP 13F holdings, Q1 2025
Holdings as of March 31, 2025 · filings on SEC EDGAR · latest filing →
Cormorant Asset Management, LP disclosed 42 US equity positions worth $1.3bn in its Q1 2025 13F filing. The largest position was MLTX at 25.1% of the reported book, followed by EWTX and BBIO. Against the Q4 2024 filing, it opened 4 new positions, added to 6 and reduced 13 among the top 42 holdings.
What did Cormorant Asset Management, LP own in Q1 2025? Top 42 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q4 2024 |
|---|---|---|---|---|---|---|---|
| 1 | MLTX MOONLAKE IMMUNOTHERAPEUTICS | Healthcare | 25.1% | $331.9m | 8,494,151 | 0% | held |
| 2 | EWTX EDGEWISE THERAPEUTICS INC | 6.8% | $90.2m | 4,101,992 | 20% | added | |
| 3 | BBIO BRIDGEBIO PHARMA INC | Healthcare | 5.2% | $69.1m | 2,000,000 | 25% | added |
| 4 | ACLXGBX ARCELLX INC | 5.2% | $68.9m | 1,050,000 | -19% | reduced | |
| 5 | PRAX PRAXIS PRECISION MEDICINES I | Healthcare | 5.0% | $66.1m | 1,745,000 | 3% | added |
| 6 | NEWAMSTERDAM PHARMA COMPANY | 4.4% | $57.8m | 2,825,000 | -13% | reduced | |
| 7 | JANX JANUX THERAPEUTICS INC | Healthcare | 4.1% | $54.0m | 2,000,000 | -5% | reduced |
| 8 | EYPT EYEPOINT PHARMACEUTICALS INC | Healthcare | 3.4% | $45.1m | 8,325,000 | 0% | held |
| 9 | INSM INSMED INC | Healthcare | 3.0% | $40.1m | 525,000 | -19% | reduced |
| 10 | DRUG BRIGHT MINDS BIOSCIENCES INC | Healthcare | 2.9% | $38.2m | 1,059,331 | 0% | held |
| 11 | HELIX ACQUISITION CORP II | 2.5% | $32.9m | 2,909,000 | 0% | held | |
| 12 | CNTA CENTESSA PHARMACEUTICALS PLC | 2.5% | $32.5m | 2,261,600 | -12% | reduced | |
| 13 | MERUS N V | 2.4% | $31.1m | 740,000 | 0% | held | |
| 14 | RAPP RAPPORT THERAPEUTICS INC | 2.2% | $29.5m | 2,940,921 | 0% | held | |
| 15 | AXSM AXSOME THERAPEUTICS INC | Healthcare | 2.2% | $29.2m | 250,000 | -23% | reduced |
| 16 | PHVS PHARVARIS N V | 1.7% | $23.0m | 1,466,460 | 0% | held | |
| 17 | GHRS GH RESEARCH PLC | 1.7% | $22.2m | 2,009,482 | 239% | added | |
| 18 | ARQT ARCUTIS BIOTHERAPEUTICS INC | Healthcare | 1.6% | $21.1m | 1,350,000 | -26% | reduced |
| 19 | TARS TARSUS PHARMACEUTICALS INC | Healthcare | 1.6% | $20.5m | 400,000 | -20% | reduced |
| 20 | SPRY ARS PHARMACEUTICALS INC | Healthcare | 1.5% | $20.1m | 1,600,000 | 220% | added |
| 21 | CRNXGBP CRINETICS PHARMACEUTICALS IN | 1.5% | $20.1m | 600,000 | -40% | reduced | |
| 22 | CGON CG ONCOLOGY INC | Healthcare | 1.4% | $19.0m | 775,000 | 0% | held |
| 23 | CRGX CARGO THERAPEUTICS INC | 1.0% | $13.8m | 3,381,277 | 186% | added | |
| 24 | ABVX ABIVAX SA | 1.0% | $13.3m | 2,130,000 | 0% | held | |
| 25 | ALMS ALUMIS INC | 1.0% | $13.2m | 2,147,396 | 0% | held | |
| 26 | CRBP CORBUS PHARMACEUTICALS HLDGS | Healthcare | 1.0% | $12.6m | 2,375,000 | 0% | held |
| 27 | RNAGBP AVIDITY BIOSCIENCES INC | 0.9% | $11.8m | 400,000 | -62% | reduced | |
| 28 | METSERA INC | 0.8% | $10.9m | 400,000 | – | new | |
| 29 | ENGENE HOLDINGS INC | 0.8% | $10.4m | 2,323,595 | 0% | held | |
| 30 | BIOA BIOAGE LABS INC | 0.7% | $9.9m | 2,629,529 | 0% | held | |
| 31 | RYTM RHYTHM PHARMACEUTICALS INC | Healthcare | 0.6% | $7.9m | 150,000 | -62% | reduced |
| 32 | OKUR ONKURE THERAPEUTICS INC | 0.6% | $7.9m | 1,837,739 | 0% | held | |
| 33 | BMEA BIOMEA FUSION INC | 0.6% | $7.6m | 3,570,872 | 0% | held | |
| 34 | KRRO KORRO BIO INC | Healthcare | 0.5% | $6.6m | 380,303 | – | new |
| 35 | PCVX VAXCYTE INC | Healthcare | 0.5% | $6.6m | 175,000 | -59% | reduced |
| 36 | AARD AARDVARK THERAPEUTICS INC | 0.5% | $6.0m | 800,189 | – | new | |
| 37 | MBX MBX BIOSCIENCES INC | Healthcare | 0.4% | $5.2m | 700,000 | 0% | held |
| 38 | ELVN ENLIVEN THERAPEUTICS INC | Healthcare | 0.4% | $4.9m | 250,000 | 0% | held |
| 39 | PLRX PLIANT THERAPEUTICS INC | Healthcare | 0.3% | $4.0m | 3,000,000 | – | new |
| 40 | KALA KALA BIO INC | 0.3% | $3.5m | 603,027 | 0% | held | |
| 41 | STOK STOKE THERAPEUTICS INC | Healthcare | 0.1% | $1.7m | 254,161 | 0% | held |
| 42 | BHVN BIOHAVEN LTD | Healthcare | 0.0% | $240.4k | 10,000 | -82% | reduced |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.