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CAM

Cormorant Asset Management Portfolio holdings

AUM $1.95B
1-Year Est. Return 773.9%
This Fund
S&P 500
This Quarter Est. Return
+33.7%
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
$1.99B
AUM Growth
-$172M
Cap. Flow
+$217M
Cap. Flow %
10.88%
Top 10 Hldgs %
59.05%
Holding
53
New
18
Increased
6
Reduced
17
Closed
6

Top Buys

Rank Stock Value
1
ERAS icon
Erasca
ERAS
+$68.6M
2
DNTH icon
Dianthus Therapeutics
DNTH
+$55M
3
DMRA
Damora Therapeutics
DMRA
+$39.2M
4
AGMB
AgomAb Therapeutics NV
AGMB
+$34.9M
5
MAZE
Maze Therapeutics
MAZE
+$33.1M

Top Sells

Rank Stock Value
1
ABVX
Abivax
ABVX
+$69.8M
2
ENGN icon
enGene Therapeutics
ENGN
+$36.1M
3
BBIO icon
BridgeBio Pharma
BBIO
+$25.4M
4
PRAX icon
Praxis Precision Medicines
PRAX
+$20M
5
GHRS icon
GH Research
GHRS
+$16.5M

Sector Composition

Rank Sector Weight
1 Healthcare 98.96%
2 Financials 0.66%
3 Miscellaneous 0.37%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PRAX icon
1
Praxis Precision Medicines
PRAX
$9.63B
$285M 14.33%
885,500
-64,500
-7% -$20M
BBOT
2
BridgeBio Oncology
BBOT
$701M
$160M 8.04%
17,878,594
– –
EYPT icon
3
EyePoint Inc
EYPT
$386M
$107M 5.35%
8,265,000
– –
EWTX icon
4
Edgewise Therapeutics
EWTX
$4.64B
$103M 5.16%
3,260,000
-25,000
-0.8% -$721K
ERAS icon
5
Erasca
ERAS
$6.31B
$93.8M 4.71%
+5,800,000
New +$68.6M
RAPP
6
Rapport Therapeutics
RAPP
$2.34B
$92.5M 4.65%
2,957,521
-70,000
-2% -$1.97M
ALMS
7
Alumis Inc
ALMS
$2.9B
$87M 4.37%
3,949,241
+313,645
+9% +$7.84M
ABVX
8
Abivax
ABVX
$9.89B
$84.6M 4.25%
760,000
-590,000
-44% -$69.8M
MLTX icon
9
MoonLake Immunotherapeutics
MLTX
$1.28B
$83.5M 4.19%
4,480,433
+125,000
+3% +$2.07M
DNTH icon
10
Dianthus Therapeutics
DNTH
$5.92B
$79.7M 4%
+950,000
New +$55M
DRUG
11
Bright Minds Biosciences
DRUG
$714M
$77.3M 3.88%
1,059,331
– –
BBIO icon
12
BridgeBio Pharma
BBIO
$15B
$63.1M 3.17%
850,000
-350,000
-29% -$25.4M
OLMA icon
13
Olema Pharmaceuticals
OLMA
$899M
$58.1M 2.92%
3,900,000
+1,150,000
+42% +$25.6M
BIOA
14
BioAge Labs
BIOA
$443M
$50.6M 2.54%
2,890,605
+850,000
+42% +$16.4M
CNTA
15
DELISTED
Centessa Pharmaceuticals
CNTA
$41.7M 2.09%
1,050,000
-275,000
-21% -$7.03M
DMRA
16
Damora Therapeutics
DMRA
$1.79B
$39.5M 1.98%
+1,525,000
New +$39.2M
MBX
17
MBX Biosciences
MBX
$3.03B
$33.4M 1.68%
1,120,000
– –
INSM icon
18
Insmed
INSM
$25.9B
$31.1M 1.56%
190,000
-85,000
-31% -$13.1M
NAMS icon
19
NewAmsterdam Pharma
NAMS
$3.1B
$30.4M 1.53%
950,000
-50,000
-5% -$1.63M
TNGX icon
20
Tango Therapeutics
TNGX
$3.94B
$29.8M 1.5%
+1,425,000
New +$19.8M
PHVS icon
21
Pharvaris
PHVS
$2.48B
$28.3M 1.42%
1,000,000
-83,000
-8% -$2.22M
ORKA
22
Oruka Therapeutics
ORKA
$6.03B
$26.2M 1.31%
533,340
– –
AGMB
23
AgomAb Therapeutics NV
AGMB
$682M
$25.9M 1.3%
+2,465,348
New +$34.9M
MAZE
24
Maze Therapeutics
MAZE
$1.52B
$22.4M 1.12%
+750,000
New +$33.1M
CRBP icon
25
Corbus Pharmaceuticals
CRBP
$211M
$22M 1.11%
2,344,971
– –
1
2 3

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GIP
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SLF
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BFPW
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Cormorant Asset Management's Q1 2026 Portfolio in Review

As of Q1 2026, Cormorant Asset Management held 53 positions worth $1.99B, down 7.9% from $2.16B the previous quarter. Its ten largest holdings account for 59% of the portfolio.

Cormorant Asset Management deployed $217M of net new capital in Q1 2026, opening 18 new positions and adding to 6 existing holdings. Its largest new stake was Erasca: 5,800,000 shares worth $93.8M.

By sector, the portfolio is most concentrated in Healthcare at 99% of assets, up from 82% a quarter earlier, followed by Financials and Miscellaneous.

On the sell side, the largest reduction was Abivax, an estimated $69.8M trimmed.

  • Cormorant Asset Management's largest Q1 2026 buy was Erasca: 5,800,000 shares worth $93.8M.
  • Cormorant Asset Management added most to Olema Pharmaceuticals in Q1 2026, an estimated $25.6M increase.
  • Cormorant Asset Management's biggest Q1 2026 reduction was Abivax, cutting an estimated $69.8M.
  • Cormorant Asset Management fully exited enGene Therapeutics in Q1 2026, selling an estimated $36.1M.
  • Cormorant Asset Management's ten largest holdings make up 59% of its $1.99B portfolio in Q1 2026.
  • Cormorant Asset Management opened 18 new positions and closed 6 in Q1 2026.
  • Cormorant Asset Management's portfolio value fell 7.9% quarter-over-quarter to $1.99B.

Based on Cormorant Asset Management's 13F filing for Q1 2026, filed 15 May 2026.