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Cormorant Asset Management Portfolio holdings

AUM $1.95B
1-Year Est. Return 773.9%
This Fund
S&P 500
This Quarter Est. Return
-17.79%
1 Year Est. Return
+773.9%
3 Year Est. Return
+3,976.92%
5 Year Est. Return
+17,750.67%
10 Year Est. Return
+592,782.78%
AUM
$1.33B
AUM Growth
-$491M
Cap. Flow
-$60.5M
Cap. Flow %
-4.55%
Top 10 Hldgs %
64.77%
Holding
54
New
6
Increased
6
Reduced
13
Closed
10

Top Buys

Rank Stock Value
1
EWTX icon
Edgewise Therapeutics
EWTX
+$18.2M
2
PLRX icon
Pliant Therapeutics
PLRX
+$18.2M
3
GHRS icon
GH Research
GHRS
+$15.8M
4
CRGX
CARGO Therapeutics
CRGX
+$14.7M
5
BBIO icon
BridgeBio Pharma
BBIO
+$13.5M

Top Sells

Rank Stock Value
1
RNAM
Avidity Biosciences
RNAM
+$20.2M
2
PCVX icon
Vaxcyte
PCVX
+$20M
3
ACLX
Arcellx
ACLX
+$16.9M
4
AVBP icon
ArriVent BioPharma
AVBP
+$15.6M
5
CRNX
Crinetics Pharmaceuticals
CRNX
+$14.9M

Sector Composition

Rank Sector Weight
1 Healthcare 99.31%
2 Miscellaneous 0.69%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MLTX icon
1
MoonLake Immunotherapeutics
MLTX
$1.06B
$332M 24.95%
8,494,151
– –
EWTX icon
2
Edgewise Therapeutics
EWTX
$4.93B
$90.2M 6.79%
4,101,992
+695,458
+20% +$18.2M
BBIO icon
3
BridgeBio Pharma
BBIO
$13.4B
$69.1M 5.2%
2,000,000
+400,000
+25% +$13.5M
ACLX
4
DELISTED
Arcellx
ACLX
$68.9M 5.18%
1,050,000
-250,000
-19% -$16.9M
PRAX icon
5
Praxis Precision Medicines
PRAX
$8.63B
$66.1M 4.97%
1,745,000
+51,781
+3% +$3.23M
NAMS icon
6
NewAmsterdam Pharma
NAMS
$2.53B
$57.8M 4.35%
2,825,000
-425,000
-13% -$9.45M
JANX icon
7
Janux Therapeutics
JANX
$993M
$54M 4.06%
2,000,000
-100,000
-5% -$3.77M
EYPT icon
8
EyePoint Inc
EYPT
$297M
$45.1M 3.39%
8,325,000
– –
INSM icon
9
Insmed
INSM
$26.8B
$40.1M 3.01%
525,000
-125,000
-19% -$9.56M
DRUG
10
Bright Minds Biosciences
DRUG
$580M
$38.2M 2.87%
1,059,331
– –
BBOT
11
BridgeBio Oncology
BBOT
$382M
$32.9M 2.47%
2,909,000
– –
CNTA
12
DELISTED
Centessa Pharmaceuticals
CNTA
$32.5M 2.45%
2,261,600
-300,000
-12% -$4.91M
MRUS
13
DELISTED
Merus
MRUS
$31.1M 2.34%
740,000
– –
RAPP
14
Rapport Therapeutics
RAPP
$1.99B
$29.5M 2.22%
2,940,921
– –
AXSM icon
15
Axsome Therapeutics
AXSM
$11.1B
$29.2M 2.19%
250,000
-75,000
-23% -$8.54M
PHVS icon
16
Pharvaris
PHVS
$2.64B
$23M 1.73%
1,466,460
– –
GHRS icon
17
GH Research
GHRS
$1.9B
$22.2M 1.67%
2,009,482
+1,416,439
+239% +$15.8M
ARQT icon
18
Arcutis Biotherapeutics
ARQT
$3.29B
$21.1M 1.59%
1,350,000
-475,000
-26% -$6.69M
TARS icon
19
Tarsus Pharmaceuticals
TARS
$3.63B
$20.5M 1.55%
400,000
-100,000
-20% -$4.94M
SPRY icon
20
ARS Pharmaceuticals
SPRY
$415M
$20.1M 1.51%
1,600,000
+1,100,000
+220% +$13.2M
CRNX
21
DELISTED
Crinetics Pharmaceuticals
CRNX
$20.1M 1.51%
600,000
-400,000
-40% -$14.9M
CGON icon
22
CG Oncology
CGON
$6.57B
$19M 1.43%
775,000
– –
CRGX
23
DELISTED
CARGO Therapeutics
CRGX
$13.8M 1.03%
3,381,277
+2,198,714
+186% +$14.7M
ABVX
24
Abivax
ABVX
$8.92B
$13.3M 1%
2,130,000
– –
ALMS
25
Alumis Inc
ALMS
$1.03B
$13.2M 0.99%
2,147,396
– –
1
2 3

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GIP
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MAM
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Cormorant Asset Management's Q1 2025 Portfolio in Review

As of Q1 2025, Cormorant Asset Management held 54 positions worth $1.33B, down 27% from $1.82B the previous quarter. Its ten largest holdings account for 65% of the portfolio.

Cormorant Asset Management withdrew a net $60.5M in Q1 2025, closing 10 positions and reducing 13 holdings. Its most notable exit was ArriVent BioPharma, an estimated $15.6M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 99% of assets, down from 100% a quarter earlier, followed by Miscellaneous.

Against the trend, Cormorant Asset Management opened a new position in Pliant Therapeutics worth $4.05M.

  • Cormorant Asset Management's largest Q1 2025 buy was Pliant Therapeutics: 3,000,000 shares worth $4.05M.
  • Cormorant Asset Management added most to Edgewise Therapeutics in Q1 2025, an estimated $18.2M increase.
  • Cormorant Asset Management's biggest Q1 2025 reduction was Avidity Biosciences, cutting an estimated $20.2M.
  • Cormorant Asset Management fully exited ArriVent BioPharma in Q1 2025, selling an estimated $15.6M.
  • Cormorant Asset Management's ten largest holdings make up 65% of its $1.33B portfolio in Q1 2025.
  • Cormorant Asset Management opened 6 new positions and closed 10 in Q1 2025.
  • Cormorant Asset Management's portfolio value fell 27% quarter-over-quarter to $1.33B.

Based on Cormorant Asset Management's 13F filing for Q1 2025, filed 15 May 2025.