RA Capital Management 13F holdings, Q2 2025
Holdings as of June 30, 2025 · filings on SEC EDGAR · latest filing →
RA Capital Management disclosed 63 US equity positions worth $6.0bn in its Q2 2025 13F filing. The largest position was ASND at 29.7% of the reported book, followed by PCVX and RYTM. Against the Q1 2025 filing, it opened 4 new positions, added to 7 and reduced 3 among the top 50 holdings.
What did RA Capital Management own in Q2 2025? Top 50 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q1 2025 |
|---|---|---|---|---|---|---|---|
| 1 | ASND ASCENDIS PHARMA A/S - ADR | Healthcare | 29.7% | $1.8bn | 10,281,496 | 0% | held |
| 2 | PCVX VAXCYTE INC | Healthcare | 6.5% | $389.0m | 11,965,991 | -2% | reduced |
| 3 | RYTM RHYTHM PHARMACEUTICALS INC | Healthcare | 5.9% | $351.4m | 5,561,359 | -9% | reduced |
| 4 | JANX JANUX THERAPEUTICS INC | Healthcare | 4.3% | $258.5m | 11,189,693 | 0% | held |
| 5 | AVIDITY BIOSCIENCES INC | 3.5% | $206.4m | 7,266,031 | 15% | added | |
| 6 | ARCELLX INC | 3.4% | $200.0m | 3,036,527 | 0% | held | |
| 7 | 89BIO INC | 3.3% | $195.3m | 19,889,683 | 0% | held | |
| 8 | SPRY ARS PHARMACEUTICALS INC | Healthcare | 3.2% | $189.5m | 10,860,977 | 0% | held |
| 9 | NEWAMSTERDAM PHARMA CO NV | 3.1% | $183.6m | 10,138,938 | 0% | held | |
| 10 | SION SIONNA THERAPEUTICS INC | 3.0% | $181.2m | 10,445,322 | 0% | held | |
| 11 | CDTX CIDARA THERAPEUTICS INC | 2.7% | $163.9m | 3,365,523 | 208% | added | |
| 12 | EWTX EDGEWISE THERAPEUTICS INC | 2.2% | $129.8m | 9,902,633 | 11% | added | |
| 13 | LENZ LENZ THERAPEUTICS INC | Healthcare | 2.1% | $122.5m | 4,178,823 | 0% | held |
| 14 | WVE WAVE LIFE SCIENCES LTD | Healthcare | 2.0% | $118.3m | 18,202,009 | 0% | held |
| 15 | TYRA TYRA BIOSCIENCES INC | Healthcare | 2.0% | $116.7m | 12,198,625 | 15% | added |
| 16 | GHRS GH RESEARCH PLC | 1.6% | $93.6m | 7,676,697 | 11% | added | |
| 17 | DYN DYNE THERAPEUTICS INC | Healthcare | 1.5% | $92.5m | 9,714,392 | 0% | held |
| 18 | GERN GERON CORP | Healthcare | 1.4% | $85.1m | 60,379,366 | 0% | held |
| 19 | IRON DISC MEDICINE INC | Healthcare | 1.4% | $83.5m | 1,577,106 | 0% | held |
| 20 | MLYS MINERALYS THERAPEUTICS INC | Healthcare | 1.4% | $83.2m | 6,147,280 | 0% | held |
| 21 | SEPN SEPTERNA INC | 1.2% | $73.9m | 6,995,858 | 0% | held | |
| 22 | CLYM CLIMB BIO INC | 1.2% | $71.8m | 31,419,267 | 0% | held | |
| 23 | FULC FULCRUM THERAPEUTICS INC | Healthcare | 1.2% | $70.4m | 10,229,099 | 0% | held |
| 24 | BCAX BICARA THERAPEUTICS INC | 1.1% | $64.6m | 6,955,993 | 0% | held | |
| 25 | VOR VOR BIOPHARMA INC | 1.1% | $64.2m | 39,646,039 | 0% | held | |
| 26 | TSHA TAYSHA GENE THERAPIES INC | Healthcare | 0.9% | $54.4m | 23,555,648 | 117% | added |
| 27 | DNTH DIANTHUS THERAPEUTICS INC | Healthcare | 0.9% | $53.4m | 2,866,733 | 0% | held |
| 28 | RXST RXSIGHT INC | Healthcare | 0.8% | $48.1m | 3,702,967 | -1% | reduced |
| 29 | TOURMALINE BIO INC | 0.7% | $40.6m | 2,538,925 | 0% | held | |
| 30 | SRRK SCHOLAR ROCK HOLDING CORP | Healthcare | 0.7% | $40.3m | 1,136,453 | 0% | held |
| 31 | GPCR STRUCTURE THERAPEUTICS INC | Healthcare | 0.5% | $31.5m | 1,517,418 | 0% | held |
| 32 | SLDB SOLID BIOSCIENCES INC | Healthcare | 0.5% | $28.3m | 5,811,323 | 34% | added |
| 33 | METSERA INC | 0.3% | $19.2m | 675,525 | 0% | held | |
| 34 | MNPR MONOPAR THERAPEUTICS INC | 0.3% | $18.3m | 511,207 | 0% | held | |
| 35 | NKTX NKARTA INC | Healthcare | 0.3% | $17.9m | 10,805,129 | 0% | held |
| 36 | LRMR LARIMAR THERAPEUTICS INC | Healthcare | 0.3% | $17.5m | 6,045,351 | 0% | held |
| 37 | ABOS ACUMEN PHARMACEUTICALS INC | 0.3% | $17.3m | 14,932,063 | 0% | held | |
| 38 | ELVN ENLIVEN THERAPEUTICS INC | Healthcare | 0.3% | $17.0m | 848,986 | 0% | held |
| 39 | TVTX TRAVERE THERAPEUTICS INC | Healthcare | 0.3% | $17.0m | 1,150,000 | 0% | held |
| 40 | 4D MOLECULAR THERAPEUTICS IN | 0.3% | $16.9m | 4,563,211 | 0% | held | |
| 41 | HNGE HINGE HEALTH INC-A | Healthcare | 0.3% | $15.5m | 300,000 | – | new |
| 42 | ARTV ARTIVA BIOTHERAPEUTICS INC | 0.2% | $14.9m | 9,853,302 | 0% | held | |
| 43 | PEPG PEPGEN INC | Healthcare | 0.2% | $11.9m | 10,689,545 | 0% | held |
| 44 | JBIO JADE BIOSCIENCES INC | 0.2% | $10.6m | 1,062,326 | – | new | |
| 45 | TNGX TANGO THERAPEUTICS INC | Healthcare | 0.2% | $10.2m | 2,000,000 | – | new |
| 46 | ACRV ACRIVON THERAPEUTICS INC | 0.2% | $9.9m | 8,340,508 | 0% | held | |
| 47 | ELDN ELEDON PHARMACEUTICALS INC | 0.2% | $9.7m | 3,566,338 | 0% | held | |
| 48 | RCUS ARCUS BIOSCIENCES INC | Healthcare | 0.2% | $9.3m | 1,136,364 | 0% | held |
| 49 | PERCEPTIVE CAPITAL SOLUTIONS | 0.1% | $8.0m | 750,000 | 0% | held | |
| 50 | OMDA OMADA HEALTH INC | Healthcare | 0.1% | $7.3m | 400,000 | – | new |
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.