Cormorant Asset Management, LP 13F holdings, Q3 2025
Holdings as of September 30, 2025 · filings on SEC EDGAR · latest filing →
Cormorant Asset Management, LP disclosed 36 US equity positions worth $1.4bn in its Q3 2025 13F filing. The largest position was BBOT at 14.3% of the reported book, followed by ABVX and EYPT. Against the Q2 2025 filing, it opened 3 new positions, added to 3 and reduced 12 among the top 36 holdings.
What did Cormorant Asset Management, LP own in Q3 2025? Top 36 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q2 2025 |
|---|---|---|---|---|---|---|---|
| 1 | BBOT BRIDGEBIO ONCOLOGY THERAPEUT | 14.3% | $207.0m | 17,878,594 | – | new | |
| 2 | ABVX ABIVAX SA | 11.4% | $165.6m | 1,950,000 | -8% | reduced | |
| 3 | EYPT EYEPOINT PHARMACEUTICALS INC | Healthcare | 8.2% | $118.5m | 8,325,000 | 0% | held |
| 4 | RAPP RAPPORT THERAPEUTICS INC | 6.5% | $94.8m | 3,192,521 | 9% | added | |
| 5 | BBIO BRIDGEBIO PHARMA INC | Healthcare | 5.0% | $72.7m | 1,400,000 | -12% | reduced |
| 6 | EWTX EDGEWISE THERAPEUTICS INC | 4.5% | $65.0m | 4,010,000 | -6% | reduced | |
| 7 | DRUG BRIGHT MINDS BIOSCIENCES INC | Healthcare | 4.4% | $64.3m | 1,059,331 | 0% | held |
| 8 | ACLXGBX ARCELLX INC | 4.4% | $63.6m | 775,000 | -3% | reduced | |
| 9 | INSM INSMED INC | Healthcare | 4.3% | $61.9m | 430,000 | -20% | reduced |
| 10 | NEWAMSTERDAM PHARMA COMPANY | 4.3% | $61.9m | 2,175,000 | 0% | held | |
| 11 | PRAX PRAXIS PRECISION MEDICINES I | Healthcare | 3.7% | $53.0m | 1,000,000 | -38% | reduced |
| 12 | CNTA CENTESSA PHARMACEUTICALS PLC | 3.2% | $46.7m | 1,925,000 | -8% | reduced | |
| 13 | PHVS PHARVARIS N V | 2.3% | $34.0m | 1,363,200 | -6% | reduced | |
| 14 | CRBP CORBUS PHARMACEUTICALS HLDGS | Healthcare | 2.1% | $30.0m | 2,375,000 | 0% | held |
| 15 | GHRS GH RESEARCH PLC | 1.9% | $27.4m | 1,916,439 | -5% | reduced | |
| 16 | CGON CG ONCOLOGY INC | Healthcare | 1.7% | $25.2m | 625,000 | 0% | held |
| 17 | KRRO KORRO BIO INC | Healthcare | 1.5% | $22.3m | 465,000 | 0% | held |
| 18 | MBX MBX BIOSCIENCES INC | Healthcare | 1.5% | $21.4m | 1,225,000 | 75% | added |
| 19 | METSERA INC | 1.4% | $20.9m | 400,000 | 0% | held | |
| 20 | JANX JANUX THERAPEUTICS INC | Healthcare | 1.4% | $20.8m | 850,000 | -43% | reduced |
| 21 | TARS TARSUS PHARMACEUTICALS INC | Healthcare | 1.2% | $17.8m | 300,000 | 0% | held |
| 22 | CRNXGBP CRINETICS PHARMACEUTICALS IN | 1.1% | $16.7m | 400,000 | 0% | held | |
| 23 | ENGENE HOLDINGS INC | 1.1% | $15.9m | 2,323,595 | 0% | held | |
| 24 | ARQT ARCUTIS BIOTHERAPEUTICS INC | Healthcare | 1.0% | $14.6m | 775,000 | -22% | reduced |
| 25 | MLTX MOONLAKE IMMUNOTHERAPEUTICS | Healthcare | 1.0% | $14.3m | 1,994,173 | -77% | reduced |
| 26 | RNAGBP AVIDITY BIOSCIENCES INC | 0.9% | $13.1m | 300,000 | 50% | added | |
| 27 | BIOA BIOAGE LABS INC | 0.9% | $12.6m | 2,140,605 | 0% | held | |
| 28 | AXSM AXSOME THERAPEUTICS INC | Healthcare | 0.8% | $12.1m | 100,000 | 0% | held |
| 29 | CABA CABALETTA BIO INC | Healthcare | 0.8% | $11.7m | 5,000,000 | 0% | held |
| 30 | ORKA ORUKA THERAPEUTICS INC | Healthcare | 0.7% | $10.3m | 533,340 | – | new |
| 31 | ALMS ALUMIS INC | 0.6% | $8.6m | 2,147,396 | 0% | held | |
| 32 | BMEA BIOMEA FUSION INC | 0.5% | $7.2m | 3,570,872 | 0% | held | |
| 33 | AMLX AMYLYX PHARMACEUTICALS INC | Healthcare | 0.5% | $6.8m | 500,000 | – | new |
| 34 | PCVX VAXCYTE INC | Healthcare | 0.4% | $6.3m | 175,000 | 0% | held |
| 35 | ELVN ENLIVEN THERAPEUTICS INC | Healthcare | 0.3% | $4.1m | 200,000 | 0% | held |
| 36 | BHVN BIOHAVEN LTD | Healthcare | 0.0% | $150.1k | 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.