Acuta Capital Partners, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Acuta Capital Partners, LLC reported 27 stock positions worth $96.8 million. Its top holding was Ocular Therapeutix (OCUL) at 14.1% of the portfolio, followed by Cidara Therapeutics (CDTX, 14.0%) and Tourmaline Bio (TRML, 13.3%). Compared with Q2 2025, it opened 8 new positions, sold out of 8, added to 5 and reduced 13. The biggest buy was a new position in Amylyx Pharmaceuticals (AMLX) and the biggest sale an exit from Soleno Therapeutics (SLNO).
- Most Recent 13F
- Q2 2026
- Location
- REDWOOD CITY, CA
- CIK
- 0001582844
- Portfolio Value
- $96.8M (Q3 2025)
- SEC Filing
- 0001104659-25-112378 ↗ filed Nov 14, 2025
Holdings Value
Holdings 27 stocks · $96.8M
| OCUL Ocular Therapeutix Inc. | 14.08% | 1,165,206 | $13.6M | Add +14.8% |
| CDTX Cidara Therapeutics Inc. | 14.01% | 141,529 | $13.6M | Reduce -21.2% |
| TRML Tourmaline Bio Inc. | 13.27% | 268,451 | $12.8M | Reduce -5.4% |
| WHWK Whitehawk Therapeutics Inc. | 6.70% | 3,410,402 | $6.5M | No change |
| INSM Insmed Inc. | 5.74% | 38,592 | $5.6M | Add +4.1% |
| DRUG Bright Minds Biosciences Inc. | 5.32% | 84,875 | $5.1M | Add +75.1% |
| ARGX Argenx SE - ADR | 4.86% | 6,379 | $4.7M | Reduce -4.8% |
| AMLX Amylyx Pharmaceuticals Inc. | 4.68% | 333,258 | $4.5M | New |
| TERN Terns Pharmaceuticals Inc. | 3.90% | 502,797 | $3.8M | Add +8.4% |
| JAZZ Jazz Pharmaceuticals PLC | 3.42% | 25,114 | $3.3M | Reduce -4.5% |
| CMPX Compass Therapeutics Inc. | 3.04% | 840,090 | $2.9M | New |
| PRAX Praxis Precision Medicines I | 2.73% | 49,751 | $2.6M | Reduce -32.9% |
| SRZN Surrozen Inc. | 2.38% | 178,415 | $2.3M | Add +5.0% |
| ASND Ascendis Pharma A/S | 2.01% | 9,792 | $1.9M | Reduce -56.6% |
| KRYS Krystal Biotech Inc. | 1.93% | 10,573 | $1.9M | New |
| OCS Oculis Holding AG | 1.85% | 101,777 | $1.8M | Reduce -4.6% |
| TSHA Taysha Gene Therapies Inc. | 1.54% | 454,827 | $1.5M | Reduce -6.3% |
| COGT Cogent Biosciences Inc. | 1.53% | 102,907 | $1.5M | New |
| ZYME Zymeworks Inc. | 1.41% | 80,143 | $1.4M | Reduce -4.2% |
| VSTM Verastem Inc. | 1.31% | 143,446 | $1.3M | Reduce -4.6% |
| DNTH Dianthus Therapeutics Inc. | 1.02% | 25,000 | $984K | New |
| UTHR United Therapeutics Corp. | 0.99% | 2,296 | $963K | New |
| INBX Inhibrx Biosciences Inc. | 0.57% | 16,377 | $552K | New |
| FULC Fulcrum Therapeutics Inc. | 0.54% | 57,141 | $526K | Reduce -4.2% |
| LBRX LB Pharmaceuticals Inc. | 0.49% | 30,000 | $474K | New |
| RVMD Revolution Medicines Inc. | 0.41% | 8,411 | $393K | Reduce -84.9% |
| UNCY Unicycive Therapeutics Inc. | 0.27% | 59,985 | $262K | Reduce -4.6% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $18K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| NUVB.WS Nuvation Bio Inc. -CW27 | *W EXP 02/10/202 | 90,832 | $18K | No change |
Total filed on the 13F, all lines: $96.8M.
Portfolio Sells Q2 2025 → Q3 2025
| SLNO Soleno Therapeutics Inc. | Sold out | 0.00% | −7.42 |
| TRVI Trevi Therapeutics Inc. | Sold out | 0.00% | −3.77 |
| ASND Ascendis Pharma A/S | Reduce -56.6% | 2.01% | −3.43 |
| BBOT Bridgebio Oncology Therapeut | Sold out | 0.00% | −2.78 |
| RVMD Revolution Medicines Inc. | Reduce -84.9% | 0.41% | −2.46 |
| PRAX Praxis Precision Medicines I | Reduce -32.9% | 2.73% | −1.62 |
| AKRO Akero Therapeutics Inc. | Sold out | 0.00% | −1.47 |
| LQDA Liquidia Corp. | Sold out | 0.00% | −1.32 |
| RARE Ultragenyx Pharmaceutical Inc. | Sold out | 0.00% | −1.21 |
| OCS Oculis Holding AG | Reduce -4.6% | 1.85% | −1.04 |
| JAZZ Jazz Pharmaceuticals PLC | Reduce -4.5% | 3.42% | −0.47 |
| RAPP Rapport Therapeutics Inc. | Sold out | 0.00% | −0.32 |
| ARGX Argenx SE - ADR | Reduce -4.8% | 4.86% | −0.30 |
| UNCY Unicycive Therapeutics Inc. | Reduce -4.6% | 0.27% | −0.15 |
| ARTV Artiva Biotherapeutics Inc. | Sold out | 0.00% | −0.10 |
| ZYME Zymeworks Inc. | Reduce -4.2% | 1.41% | −0.05 |
| FULC Fulcrum Therapeutics Inc. | Reduce -4.2% | 0.54% | −0.03 |
| TSHA Taysha Gene Therapies Inc. | Reduce -6.3% | 1.54% | −0.03 |
| VSTM Verastem Inc. | Reduce -4.6% | 1.31% | +0.44 |
| CDTX Cidara Therapeutics Inc. | Reduce -21.2% | 14.01% | +1.79 |
| TRML Tourmaline Bio Inc. | Reduce -5.4% | 13.27% | +6.94 |
Portfolio Buys Q2 2025 → Q3 2025
| AMLX Amylyx Pharmaceuticals Inc. | New | 4.68% | +4.68 |
| DRUG Bright Minds Biosciences Inc. | Add +75.1% | 5.32% | +3.55 |
| CMPX Compass Therapeutics Inc. | New | 3.04% | +3.04 |
| KRYS Krystal Biotech Inc. | New | 1.93% | +1.93 |
| COGT Cogent Biosciences Inc. | New | 1.53% | +1.53 |
| TERN Terns Pharmaceuticals Inc. | Add +8.4% | 3.90% | +1.49 |
| DNTH Dianthus Therapeutics Inc. | New | 1.02% | +1.02 |
| UTHR United Therapeutics Corp. | New | 0.99% | +0.99 |
| OCUL Ocular Therapeutix Inc. | Add +14.8% | 14.08% | +0.93 |
| INBX Inhibrx Biosciences Inc. | New | 0.57% | +0.57 |
| INSM Insmed Inc. | Add +4.1% | 5.74% | +0.53 |
| LBRX LB Pharmaceuticals Inc. | New | 0.49% | +0.49 |
| SRZN Surrozen Inc. | Add +5.0% | 2.38% | +0.25 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 23 | $143.5M | PRAX, WHWK, TNGX, STRO, AVBP |
| Q1 2026 | 26 | $140.6M | PRAX, TERN, WHWK, TNGX, DRUG |
| Q4 2025 | 29 | $147.3M | TERN, PRAX, CDTX, OCUL, WHWK |
| Q3 2025 | 27 | $96.8M | OCUL, CDTX, TRML, WHWK, INSM |
| Q2 2025 | 27 | $71.6M | OCUL, CDTX, WHWK, SLNO, TRML |
| Q1 2025 | 33 | $86.2M | OCUL, INSM, TRML, WHWK, ELVN |
| Q4 2024 | 38 | $99.4M | OCUL, INSM, TRML, CRNX, ELVN |
| Q3 2024 | 40 | $123.5M | PCVX, OCUL, TRML, INSM, ELVN |
| Q2 2024 | 31 | $118.6M | OCUL, ELVN, PCVX, DYN, PRAX |
| Q1 2024 | 32 | $153.9M | OCUL, PRAX, MERSANA THERAPEUTICS INC, TSHA, RCKT |