Cormorant Asset Management, LP 13F holdings, Q2 2025
Holdings as of June 30, 2025 · filings on SEC EDGAR · latest filing →
Cormorant Asset Management, LP disclosed 42 US equity positions worth $1.3bn in its Q2 2025 13F filing. The largest position was MLTX at 29.9% of the reported book, followed by EYPT and BBIO. Against the Q1 2025 filing, it opened 3 new positions, added to 4 and reduced 16 among the top 42 holdings.
What did Cormorant Asset Management, LP own in Q2 2025? Top 42 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q1 2025 |
|---|---|---|---|---|---|---|---|
| 1 | MLTX MOONLAKE IMMUNOTHERAPEUTICS | Healthcare | 29.9% | $400.9m | 8,494,151 | 0% | held |
| 2 | EYPT EYEPOINT PHARMACEUTICALS INC | Healthcare | 5.8% | $78.3m | 8,325,000 | 0% | held |
| 3 | BBIO BRIDGEBIO PHARMA INC | Healthcare | 5.1% | $69.1m | 1,600,000 | -20% | reduced |
| 4 | PRAX PRAXIS PRECISION MEDICINES I | Healthcare | 5.1% | $68.3m | 1,625,000 | -7% | reduced |
| 5 | MERUS N V | 4.4% | $58.9m | 1,120,000 | 51% | added | |
| 6 | EWTX EDGEWISE THERAPEUTICS INC | 4.2% | $55.7m | 4,251,992 | 4% | added | |
| 7 | INSM INSMED INC | Healthcare | 4.0% | $54.3m | 540,000 | 3% | added |
| 8 | ACLXGBX ARCELLX INC | 3.9% | $52.7m | 800,000 | -24% | reduced | |
| 9 | NEWAMSTERDAM PHARMA COMPANY | 2.9% | $39.4m | 2,175,000 | -23% | reduced | |
| 10 | JANX JANUX THERAPEUTICS INC | Healthcare | 2.6% | $34.6m | 1,500,000 | -25% | reduced |
| 11 | RAPP RAPPORT THERAPEUTICS INC | 2.5% | $33.4m | 2,940,921 | 0% | held | |
| 12 | VRNA VERONA PHARMA PLC | 2.5% | $33.1m | 350,000 | – | new | |
| 13 | HELIX ACQUISITION CORP II | 2.3% | $30.9m | 2,909,000 | 0% | held | |
| 14 | DRUG BRIGHT MINDS BIOSCIENCES INC | Healthcare | 2.1% | $27.7m | 1,059,331 | 0% | held |
| 15 | CNTA CENTESSA PHARMACEUTICALS PLC | 2.0% | $27.4m | 2,086,600 | -8% | reduced | |
| 16 | PHVS PHARVARIS N V | 1.9% | $25.6m | 1,454,660 | -1% | reduced | |
| 17 | GHRS GH RESEARCH PLC | 1.8% | $24.5m | 2,009,482 | 0% | held | |
| 18 | SPRY ARS PHARMACEUTICALS INC | Healthcare | 1.4% | $19.2m | 1,100,000 | -31% | reduced |
| 19 | CRBP CORBUS PHARMACEUTICALS HLDGS | Healthcare | 1.2% | $16.4m | 2,375,000 | 0% | held |
| 20 | ABVX ABIVAX SA | 1.2% | $16.3m | 2,130,000 | 0% | held | |
| 21 | CGON CG ONCOLOGY INC | Healthcare | 1.2% | $16.2m | 625,000 | -19% | reduced |
| 22 | ARQT ARCUTIS BIOTHERAPEUTICS INC | Healthcare | 1.0% | $14.0m | 1,000,000 | -26% | reduced |
| 23 | CRGX CARGO THERAPEUTICS INC | 1.0% | $13.9m | 3,381,277 | 0% | held | |
| 24 | TARS TARSUS PHARMACEUTICALS INC | Healthcare | 0.9% | $12.2m | 300,000 | -25% | reduced |
| 25 | CRNXGBP CRINETICS PHARMACEUTICALS IN | 0.9% | $11.5m | 400,000 | -33% | reduced | |
| 26 | METSERA INC | 0.8% | $11.4m | 400,000 | 0% | held | |
| 27 | AARD AARDVARK THERAPEUTICS INC | 0.8% | $10.8m | 800,189 | 0% | held | |
| 28 | AXSM AXSOME THERAPEUTICS INC | Healthcare | 0.8% | $10.4m | 100,000 | -60% | reduced |
| 29 | BIOA BIOAGE LABS INC | 0.7% | $8.8m | 2,140,605 | -19% | reduced | |
| 30 | ENGENE HOLDINGS INC | 0.6% | $8.5m | 2,323,595 | 0% | held | |
| 31 | MBX MBX BIOSCIENCES INC | Healthcare | 0.6% | $8.0m | 700,000 | 0% | held |
| 32 | CABA CABALETTA BIO INC | Healthcare | 0.6% | $7.6m | 5,000,000 | – | new |
| 33 | ALMS ALUMIS INC | 0.5% | $6.4m | 2,147,396 | 0% | held | |
| 34 | BMEA BIOMEA FUSION INC | 0.5% | $6.4m | 3,570,872 | 0% | held | |
| 35 | KRRO KORRO BIO INC | Healthcare | 0.4% | $5.8m | 465,000 | 22% | added |
| 36 | PCVX VAXCYTE INC | Healthcare | 0.4% | $5.7m | 175,000 | 0% | held |
| 37 | RNAGBP AVIDITY BIOSCIENCES INC | 0.4% | $5.7m | 200,000 | -50% | reduced | |
| 38 | ELVN ENLIVEN THERAPEUTICS INC | Healthcare | 0.3% | $4.0m | 200,000 | -20% | reduced |
| 39 | STOK STOKE THERAPEUTICS INC | Healthcare | 0.2% | $2.9m | 254,161 | 0% | held |
| 40 | KALA KALA BIO INC | 0.2% | $2.9m | 603,027 | 0% | held | |
| 41 | MNLOUSD VYNE THERAPEUTICS INC | 0.2% | $2.3m | 1,370,938 | – | new | |
| 42 | BHVN BIOHAVEN LTD | Healthcare | 0.0% | $141.1k | 10,000 | 0% | held |
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.