Cormorant Asset Management, LP
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Cormorant Asset Management, LP reported 56 stock positions worth $2.3 billion. Its top holding was Moonlake Immunotherapeutics (MLTX) at 18.8% of the portfolio, followed by Eyepoint (EYPT, 6.3%) and Arcellx (ACLX, 5.5%). Compared with Q4 2023, it opened 18 new positions, sold out of 9, added to 9 and reduced 10. The biggest buy was a new position in Corbus Pharmaceuticals Holdi (CRBP) and the biggest sale an exit from New Ambrx Biopharma (AMAM).
- Most Recent 13F
- Q2 2026
- Location
- BOSTON, MA
- CIK
- 0001583977
- Portfolio Value
- $2.3B (Q1 2024)
- SEC Filing
- 0001583977-24-000002 ↗ filed May 15, 2024
Holdings Value
Holdings 56 stocks · $2.3B
| MLTX Moonlake Immunotherapeutics | 18.80% | 8,494,151 | $426.7M | No change |
| EYPT Eyepoint Inc. | 6.28% | 6,893,235 | $142.5M | Add +14.2% |
| ACLX Arcellx Inc. | 5.45% | 1,780,000 | $123.8M | Add +4.7% |
| ALPN Alpine Immune Sciences Inc. | 4.72% | 2,700,000 | $107.0M | Add +5.9% |
| BBIO Bridgebio Pharma Inc. | 4.36% | 3,203,029 | $99.0M | Reduce -4.2% |
| PRAX Praxis Precision Medicines I | 3.52% | 1,310,000 | $79.9M | Add +106.8% |
| CRBP Corbus Pharmaceuticals Holdi | 3.50% | 2,025,000 | $79.5M | New |
| TARS Tarsus Pharmaceuticals Inc. | 3.43% | 2,139,102 | $77.8M | Reduce -3.7% |
| LBPH Longboard Pharmaceuticals Inc. | 3.19% | 3,353,141 | $72.4M | Add +42.5% |
| EWTX Edgewise Therapeutics Inc. | 2.42% | 3,006,534 | $54.8M | Add +17.8% |
| CRNX Crinetics Pharmaceuticals Inc. | 2.37% | 1,150,000 | $53.8M | No change |
| BMEA Biomea Fusion Inc. | 2.35% | 3,570,872 | $53.4M | No change |
| KRRO Korro Bio Inc. | 2.10% | 529,170 | $47.6M | No change |
| PCVX Vaxcyte Inc. | 2.06% | 685,000 | $46.8M | Add +3.0% |
| AUTL Autolus Therapeutics PLC | 1.86% | 6,616,667 | $42.2M | Add +21.4% |
| PHVS Pharvaris NV | 1.74% | 1,711,460 | $39.6M | No change |
| NAMS Newamsterdam Pharma Co. NV | 1.56% | 1,500,000 | $35.5M | New |
| CGON CG Oncology Inc. | 1.55% | 800,000 | $35.1M | New |
| ALXO Alx Oncology Holdings Inc. | 1.54% | 3,142,079 | $35.0M | No change |
| BHVN Biohaven Ltd. | 1.49% | 616,963 | $33.7M | Add +652.7% |
| MRUS Merus NV | 1.42% | 715,000 | $32.2M | New |
| AEROVATE THERAPEUTICS INC | 1.39% | 1,069,796 | $31.6M | Reduce -11.7% |
| ABVX Abivax SA-ADR | 1.34% | 2,130,000 | $30.5M | No change |
| BBOT Bridgebio Oncology Therapeut filed as HELIX ACQUISITION CORP II | 1.33% | 2,909,000 | $30.3M | New |
| MRNS Marinus Pharmaceuticals Inc. | 1.29% | 3,250,000 | $29.4M | No change |
| TRML Tourmaline Bio Inc. | 1.26% | 1,250,000 | $28.6M | New |
| JANX Janux Therapeutics Inc. | 1.24% | 750,000 | $28.2M | New |
| NGNE Neurogene Inc. | 1.21% | 538,714 | $27.4M | Reduce -27.8% |
| CRGX Cargo Therapeutics Inc. | 1.16% | 1,182,563 | $26.4M | No change |
| RYTM Rhythm Pharmaceuticals Inc. | 1.05% | 550,000 | $23.8M | No change |
| APLS Apellis Pharmaceuticals Inc. | 1.04% | 400,000 | $23.5M | Reduce -36.0% |
| ARQT Arcutis Biotherapeutics Inc. | 0.93% | 2,125,000 | $21.1M | New |
| IDYA Ideaya Biosciences Inc. | 0.87% | 450,000 | $19.7M | No change |
| CABA Cabaletta Bio Inc. | 0.83% | 1,100,000 | $18.8M | New |
| ATXS Astria Therapeutics Inc. | 0.81% | 1,300,000 | $18.3M | New |
| ENGN Engene Holdings Inc. | 0.75% | 1,000,000 | $16.9M | New |
| INSM Insmed Inc. | 0.69% | 575,000 | $15.6M | No change |
| VTYX Ventyx Biosciences Inc. | 0.66% | 2,710,000 | $14.9M | New |
| NKTX Nkarta Inc. | 0.64% | 1,350,000 | $14.6M | New |
| SLN Silence Therapeutics PLC-ADR | 0.59% | 625,000 | $13.5M | New |
| MERSANA THERAPEUTICS INC | 0.51% | 2,600,000 | $11.6M | New |
| CMPX Compass Therapeutics Inc. | 0.49% | 5,560,300 | $11.0M | New |
| KYTX Kyverna Therapeutics Inc. | 0.48% | 440,000 | $10.9M | New |
| IMRX Immuneering Corp. Class A | 0.42% | 3,295,273 | $9.5M | Reduce -21.6% |
| SYRE Spyre Therapeutics Inc. | 0.42% | 250,000 | $9.5M | Reduce -73.3% |
| AVBP Arrivent Biopharma Inc. | 0.41% | 515,000 | $9.2M | New |
| RCKT Rocket Pharmaceuticals Inc. | 0.36% | 300,000 | $8.1M | Reduce -33.3% |
| IRON Disc Medicine Inc. | 0.34% | 125,000 | $7.8M | No change |
| CNTA Centessa Pharmaceuticals Ltd. | 0.28% | 561,600 | $6.3M | No change |
| GHRS GH Research PLC | 0.28% | 593,043 | $6.3M | No change |
| STOK Stoke Therapeutics Inc. | 0.25% | 427,163 | $5.8M | Reduce -60.7% |
| LNTH Lantheus Holdings Inc. | 0.21% | 75,000 | $4.7M | No change |
| VERV Verve Therapeutics Inc. | 0.20% | 350,000 | $4.6M | No change |
| RAPT THERAPEUTICS INC | 0.20% | 496,750 | $4.5M | No change |
| VYNE THERAPEUTICS INC | 0.19% | 1,394,336 | $4.3M | No change |
| BCAB Bioatla Inc. | 0.18% | 1,170,870 | $4.0M | Reduce -0.9% |
Options reported separately and not counted above: BEAM puts ($9.9M).
Portfolio Sells Q4 2023 → Q1 2024
| AMAM New Ambrx Biopharma Inc. | Sold out | 0.00% | −7.66 |
| RYZB Rayzebio Inc. | Sold out | 0.00% | −3.61 |
| IMVT Immunovant Inc. | Sold out | 0.00% | −2.35 |
| BBIO Bridgebio Pharma Inc. | Reduce -4.2% | 4.36% | −2.10 |
| CBAY Cymabay Therapeutics Inc. | Sold out | 0.00% | −2.04 |
| OLMA Olema Pharmaceuticals Inc. | Sold out | 0.00% | −1.65 |
| SNDX Syndax Pharmaceuticals Inc. | Sold out | 0.00% | −1.22 |
| HARP Harpoon Therapeutics Inc. | Sold out | 0.00% | −1.08 |
| IMRX Immuneering Corp. Class A | Reduce -21.6% | 0.42% | −1.06 |
| APLS Apellis Pharmaceuticals Inc. | Reduce -36.0% | 1.04% | −0.76 |
| AXONICS INC | Sold out | 0.00% | −0.74 |
| SYRE Spyre Therapeutics Inc. | Reduce -73.3% | 0.42% | −0.55 |
| RCKT Rocket Pharmaceuticals Inc. | Reduce -33.3% | 0.36% | −0.29 |
| NMRA Neumora Therapeutics Inc. | Sold out | 0.00% | −0.08 |
| STOK Stoke Therapeutics Inc. | Reduce -60.7% | 0.25% | −0.02 |
| BCAB Bioatla Inc. | Reduce -0.9% | 0.18% | +0.04 |
| AEROVATE THERAPEUTICS INC | Reduce -11.7% | 1.39% | +0.08 |
| NGNE Neurogene Inc. | Reduce -27.8% | 1.21% | +0.52 |
| TARS Tarsus Pharmaceuticals Inc. | Reduce -3.7% | 3.43% | +1.27 |
Portfolio Buys Q4 2023 → Q1 2024
| CRBP Corbus Pharmaceuticals Holdi | New | 3.50% | +3.50 |
| PRAX Praxis Precision Medicines I | Add +106.8% | 3.52% | +2.85 |
| LBPH Longboard Pharmaceuticals Inc. | Add +42.5% | 3.19% | +2.51 |
| ALPN Alpine Immune Sciences Inc. | Add +5.9% | 4.72% | +2.39 |
| NAMS Newamsterdam Pharma Co. NV | New | 1.56% | +1.56 |
| CGON CG Oncology Inc. | New | 1.55% | +1.55 |
| MRUS Merus NV | New | 1.42% | +1.42 |
| BBOT Bridgebio Oncology Therapeut | New | 1.33% | +1.33 |
| BHVN Biohaven Ltd. | Add +652.7% | 1.49% | +1.32 |
| TRML Tourmaline Bio Inc. | New | 1.26% | +1.26 |
| JANX Janux Therapeutics Inc. | New | 1.24% | +1.24 |
| EWTX Edgewise Therapeutics Inc. | Add +17.8% | 2.42% | +1.08 |
| ACLX Arcellx Inc. | Add +4.7% | 5.45% | +0.94 |
| ARQT Arcutis Biotherapeutics Inc. | New | 0.93% | +0.93 |
| CABA Cabaletta Bio Inc. | New | 0.83% | +0.83 |
| ATXS Astria Therapeutics Inc. | New | 0.81% | +0.81 |
| ENGN Engene Holdings Inc. | New | 0.75% | +0.75 |
| VTYX Ventyx Biosciences Inc. | New | 0.66% | +0.66 |
| NKTX Nkarta Inc. | New | 0.64% | +0.64 |
| SLN Silence Therapeutics PLC-ADR | New | 0.59% | +0.59 |
| MERSANA THERAPEUTICS INC | New | 0.51% | +0.51 |
| CMPX Compass Therapeutics Inc. | New | 0.49% | +0.49 |
| KYTX Kyverna Therapeutics Inc. | New | 0.48% | +0.48 |
| AVBP Arrivent Biopharma Inc. | New | 0.41% | +0.41 |
| AUTL Autolus Therapeutics PLC | Add +21.4% | 1.86% | +0.18 |
| PCVX Vaxcyte Inc. | Add +3.0% | 2.06% | +0.06 |
| EYPT Eyepoint Inc. | Add +14.2% | 6.28% | −0.40 |
Options Activity Q4 2023 → Q1 2024
| BEAM Beam Therapeutics Inc. | put | New | 300,000 | $9.9M |
| EDIT Editas Medicine Inc. | put | Sold out | 500,000 | $5.1Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 50 | $2.0B | PRAX, BBOT, PBLS, RAPP, ERAS |
| Q1 2026 | 46 | $2.0B | PRAX, BBOT, EYPT, EWTX, ERAS |
| Q4 2025 | 32 | $1.8B | PRAX, BBOT, ABVX, EYPT, RAPP |
| Q3 2025 | 36 | $1.4B | BBOT, ABVX, EYPT, RAPP, BBIO |
| Q2 2025 | 42 | $1.3B | MLTX, EYPT, BBIO, PRAX, MRUS |
| Q1 2025 | 42 | $1.3B | MLTX, EWTX, BBIO, ACLX, PRAX |
| Q4 2024 | 48 | $1.8B | MLTX, PRAX, JANX, ACLX, EWTX |
| Q3 2024 | 45 | $1.9B | MLTX, PCVX, ACLX, LBPH, EWTX |
| Q2 2024 | 47 | $1.7B | MLTX, CRBP, ACLX, PCVX, LBPH |
| Q1 2024 | 56 | $2.3B | MLTX, EYPT, ACLX, ALPN, BBIO |