DAFNA Capital Management LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), DAFNA Capital Management LLC reported 82 stock positions worth $433.7 million. Its top holding was Revolution Medicines (RVMD) at 13.0% of the portfolio, followed by SS SPDR S&P Biotech ETF (XBI, 9.4%) and Stereotaxis (STXS, 5.8%). Compared with Q4 2025, it opened 10 new positions, sold out of 4, added to 20 and reduced 29. The biggest buy was Nektar Therapeutics (NKTR, shares +120%) and the biggest sale Cytokinetics (CYTK, shares −41%).
- Most Recent 13F
- Q2 2026
- Location
- LOS ANGELES, CA
- CIK
- 0001389933
- Portfolio Value
- $433.7M (Q1 2026)
- SEC Filing
- 0001389933-26-000004 ↗ filed May 15, 2026
Holdings Value
Holdings 82 stocks · $433.7M
| RVMD Revolution Medicines Inc. | 13.02% | 580,678 | $56.5M | Reduce -3.9% |
| XBI SS SPDR S&P Biotech ETF | 9.38% | 318,505 | $40.7M | Reduce -5.3% |
| STXS Stereotaxis Inc. | 5.80% | 13,680,554 | $25.2M | No change |
| DAWN Day One Biopharmaceuticals I | 4.84% | 978,463 | $21.0M | Reduce -2.1% |
| ATRC Atricure Inc. | 3.93% | 597,431 | $17.0M | No change |
| IDYA Ideaya Biosciences Inc. | 3.66% | 476,740 | $15.9M | Reduce -5.9% |
| XENE Xenon Pharmaceuticals Inc. | 3.36% | 250,772 | $14.6M | Reduce -12.9% |
| CYTK Cytokinetics Inc. | 3.31% | 217,497 | $14.3M | Reduce -41.4% |
| CMPS Compass Pathways PLC | 3.08% | 2,418,882 | $13.4M | Add +198.2% |
| NKTR Nektar Therapeutics | 2.74% | 165,178 | $11.9M | Add +120.2% |
| IBB iShares Biotechnology ETF | 2.42% | 62,095 | $10.5M | Reduce -8.8% |
| RCUS Arcus Biosciences Inc. | 2.21% | 443,829 | $9.6M | Add +2.9% |
| NBIX Neurocrine Biosciences Inc. | 2.15% | 70,615 | $9.3M | No change |
| LRMR Larimar Therapeutics Inc. | 2.11% | 2,029,164 | $9.1M | Add +116.1% |
| BCAX Bicara Therapeutics Inc. | 1.93% | 421,733 | $8.4M | Add +61.2% |
| AXGN Axogen Inc. | 1.91% | 249,960 | $8.3M | Reduce -47.6% |
| BHVN Biohaven Ltd. | 1.65% | 845,735 | $7.2M | Reduce -11.5% |
| TNDM Tandem Diabetes Care Inc. | 1.57% | 355,208 | $6.8M | No change |
| DNLI Denali Therapeutics Inc. | 1.41% | 318,500 | $6.1M | No change |
| IPSC Century Therapeutics Inc. | 1.27% | 2,434,353 | $5.5M | Reduce -12.9% |
| DXCM Dexcom Inc. | 1.25% | 86,279 | $5.4M | Reduce -2.3% |
| KALV Kalvista Pharmaceuticals Inc. | 1.24% | 267,402 | $5.4M | Reduce -25.1% |
| ASND Ascendis Pharma A/S | 1.22% | 23,177 | $5.3M | Reduce -17.7% |
| MBX MBX Biosciences Inc. | 1.21% | 175,465 | $5.2M | Add +6.2% |
| INGN Inogen Inc. | 1.20% | 845,179 | $5.2M | Add +2.2% |
| SNDX Syndax Pharmaceuticals Inc. | 1.17% | 217,355 | $5.1M | Reduce -21.8% |
| ALKS Alkermes PLC | 1.14% | 139,482 | $4.9M | Add +7.1% |
| STOK Stoke Therapeutics Inc. | 0.98% | 130,875 | $4.3M | Add +20.2% |
| BCRX Biocryst Pharmaceuticals Inc. | 0.94% | 430,248 | $4.1M | Add +2.9% |
| LKFT Lakefront Biotherapeutic-ADR filed as GALAPAGOS NV | 0.90% | 130,175 | $3.9M | No change |
| IMVT Immunovant Inc. | 0.86% | 150,524 | $3.7M | No change |
| EWTX Edgewise Therapeutics Inc. | 0.82% | 112,236 | $3.5M | Reduce -29.7% |
| MPLT Maplight Therapeutics Inc. | 0.80% | 171,006 | $3.5M | Add +18.9% |
| ALLO Allogene Therapeutics Inc. | 0.77% | 1,370,118 | $3.3M | Reduce -0.7% |
| PRCT Procept Biorobotics Corp. | 0.69% | 120,000 | $3.0M | No change |
| ALGN Align Technology Inc. | 0.59% | 15,000 | $2.6M | Reduce -6.3% |
| PRQR Proqr Therapeutics NV | 0.59% | 1,567,561 | $2.5M | No change |
| HELP Cybin Inc. | 0.55% | 498,361 | $2.4M | Add +9.5% |
| RAPP Rapport Therapeutics Inc. | 0.54% | 75,000 | $2.3M | No change |
| PODD Insulet Corp. | 0.53% | 10,870 | $2.3M | Add +58.2% |
| GPCR Structure Therapeutics Inc. | 0.52% | 46,500 | $2.2M | Add +25.7% |
| IMTX Immatics NV | 0.51% | 225,860 | $2.2M | Reduce -13.5% |
| CLDX Celldex Therapeutics Inc. | 0.50% | 68,518 | $2.2M | No change |
| LXEO Lexeo Therapeutics Inc. | 0.50% | 377,059 | $2.2M | Add +10.6% |
| ALEC Alector Inc. | 0.45% | 908,351 | $2.0M | No change |
| VKTX Viking Therapeutics Inc. | 0.45% | 59,516 | $1.9M | No change |
| KURA Kura Oncology Inc. | 0.44% | 235,868 | $1.9M | No change |
| PROF Profound Medical Corp. | 0.39% | 263,005 | $1.7M | Reduce -8.0% |
| FULC Fulcrum Therapeutics Inc. | 0.36% | 205,000 | $1.6M | New |
| AQST Aquestive Therapeutics Inc. | 0.35% | 368,415 | $1.5M | Reduce -2.0% |
| MDWD Mediwound Ltd. | 0.35% | 94,405 | $1.5M | Reduce -16.9% |
| KIDS Orthopediatrics Corp. | 0.35% | 95,659 | $1.5M | New |
| RARE Ultragenyx Pharmaceutical Inc. | 0.30% | 61,100 | $1.3M | Add +281.9% |
| ENGN Engene Holdings Inc. | 0.29% | 187,353 | $1.3M | Add +14.5% |
| NGNE Neurogene Inc. | 0.26% | 56,635 | $1.1M | Add +102.5% |
| SPRY Ars Pharmaceuticals Inc. | 0.26% | 139,285 | $1.1M | Reduce -26.7% |
| CTMX Cytomx Therapeutics Inc. | 0.25% | 230,000 | $1.1M | New |
| MAZE Maze Therapeutics Inc. | 0.24% | 35,000 | $1.0M | New |
| MLYS Mineralys Therapeutics Inc. | 0.24% | 38,490 | $1.0M | No change |
| SCYX Scynexis Inc. | 0.23% | 1,086,956 | $997K | New |
| ORIC Oric Pharmaceuticals Inc. | 0.22% | 98,724 | $945K | Reduce -30.0% |
| INSP Inspire Medical Systems Inc. | 0.22% | 18,200 | $939K | Add +111.6% |
| PYPD Polypid Ltd. | 0.21% | 207,900 | $911K | No change |
| TELA Tela Bio Inc. | 0.21% | 1,441,029 | $893K | No change |
| ZBIO Zenas Biopharma Inc. | 0.19% | 42,500 | $831K | New |
| VRCA Verrica Pharmaceuticals Inc. | 0.19% | 153,712 | $813K | Reduce -11.4% |
| FATE Fate Therapeutics Inc. | 0.15% | 550,000 | $660K | No change |
| ANNX Annexon Inc. | 0.15% | 117,812 | $653K | Reduce -56.8% |
| ARAY Accuray Inc. | 0.15% | 1,680,508 | $652K | Add +20.4% |
| NAMS Newamsterdam Pharma Co. NV | 0.15% | 20,000 | $640K | New |
| ACET Adicet Bio Inc. | 0.15% | 93,812 | $639K | No change |
| BNTX Biontech SE-ADR | 0.14% | 7,000 | $622K | No change |
| PLRX Pliant Therapeutics Inc. | 0.14% | 487,000 | $614K | New |
| CGEN Compugen Ltd. | 0.13% | 257,783 | $549K | Reduce -5.4% |
| OBIO Orchestra Biomed Holdings Inc. | 0.12% | 126,841 | $539K | No change |
| FHTX Foghorn Therapeutics Inc. | 0.12% | 111,859 | $535K | Reduce -11.8% |
| IBIO Ibio Inc. | 0.08% | 193,638 | $368K | New |
| BCYC Bicycle Therapeutics PLC-ADR | 0.07% | 64,492 | $299K | No change |
| ADCT Adc Therapeutics SA | 0.06% | 72,081 | $270K | Reduce -6.5% |
| KPTI Karyopharm Therapeutics Inc. | 0.06% | 45,800 | $255K | Reduce -10.2% |
| AUTL Autolus Therapeutics PLC | 0.06% | 179,316 | $247K | No change |
| NMRA Neumora Therapeutics Inc. | 0.03% | 70,000 | $137K | New |
Other holdings (1): bonds, preferreds, convertibles and warrants · $5.9M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| ASCENDIS PHARMA A/S (ASND 2.25 04/01/28) | NOTE 2.250% 4/0 · principal | 4,000,000 | $5.9M | No change |
Total filed on the 13F, all lines: $439.6M.
Portfolio Sells Q4 2025 → Q1 2026
| CYTK Cytokinetics Inc. | Reduce -41.4% | 3.31% | −2.24 |
| AXGN Axogen Inc. | Reduce -47.6% | 1.91% | −1.76 |
| ATXS Astria Therapeutics Inc. | Sold out | 0.00% | −0.94 |
| BHVN Biohaven Ltd. | Reduce -11.5% | 1.65% | −0.89 |
| IDYA Ideaya Biosciences Inc. | Reduce -5.9% | 3.66% | −0.46 |
| IBB iShares Biotechnology ETF | Reduce -8.8% | 2.42% | −0.29 |
| XBI SS SPDR S&P Biotech ETF | Reduce -5.3% | 9.38% | −0.27 |
| SPRY Ars Pharmaceuticals Inc. | Reduce -26.7% | 0.26% | −0.26 |
| ERAS Erasca Inc. | Sold out | 0.00% | −0.22 |
| AQST Aquestive Therapeutics Inc. | Reduce -2.0% | 0.35% | −0.22 |
| SNDX Syndax Pharmaceuticals Inc. | Reduce -21.8% | 1.17% | −0.20 |
| ASND Ascendis Pharma A/S | Reduce -17.7% | 1.22% | −0.19 |
| ANNX Annexon Inc. | Reduce -56.8% | 0.15% | −0.17 |
| VRCA Verrica Pharmaceuticals Inc. | Reduce -11.4% | 0.19% | −0.15 |
| MDWD Mediwound Ltd. | Reduce -16.9% | 0.35% | −0.14 |
| PROF Profound Medical Corp. | Reduce -8.0% | 0.39% | −0.14 |
| IMTX Immatics NV | Reduce -13.5% | 0.51% | −0.13 |
| DXCM Dexcom Inc. | Reduce -2.3% | 1.25% | −0.13 |
| EWTX Edgewise Therapeutics Inc. | Reduce -29.7% | 0.82% | −0.12 |
| KALV Kalvista Pharmaceuticals Inc. | Reduce -25.1% | 1.24% | −0.11 |
| BWAY Brainsway Ltd.-ADR | Sold out | 0.00% | −0.06 |
| ORIC Oric Pharmaceuticals Inc. | Reduce -30.0% | 0.22% | −0.05 |
| FHTX Foghorn Therapeutics Inc. | Reduce -11.8% | 0.12% | −0.04 |
| CATX Perspective Therapeutics Inc. | Sold out | 0.00% | −0.03 |
| KPTI Karyopharm Therapeutics Inc. | Reduce -10.2% | 0.06% | −0.03 |
| ADCT Adc Therapeutics SA | Reduce -6.5% | 0.06% | −0.00 |
| ALGN Align Technology Inc. | Reduce -6.3% | 0.59% | +0.01 |
| CGEN Compugen Ltd. | Reduce -5.4% | 0.13% | +0.03 |
| ALLO Allogene Therapeutics Inc. | Reduce -0.7% | 0.77% | +0.33 |
| XENE Xenon Pharmaceuticals Inc. | Reduce -12.9% | 3.36% | +0.33 |
| IPSC Century Therapeutics Inc. | Reduce -12.9% | 1.27% | +0.61 |
| RVMD Revolution Medicines Inc. | Reduce -3.9% | 13.02% | +1.69 |
| DAWN Day One Biopharmaceuticals I | Reduce -2.1% | 4.84% | +2.65 |
Portfolio Buys Q4 2025 → Q1 2026
| NKTR Nektar Therapeutics | Add +120.2% | 2.74% | +1.99 |
| CMPS Compass Pathways PLC | Add +198.2% | 3.08% | +1.77 |
| LRMR Larimar Therapeutics Inc. | Add +116.1% | 2.11% | +1.26 |
| BCAX Bicara Therapeutics Inc. | Add +61.2% | 1.93% | +0.90 |
| FULC Fulcrum Therapeutics Inc. | New | 0.36% | +0.36 |
| KIDS Orthopediatrics Corp. | New | 0.35% | +0.35 |
| ALKS Alkermes PLC | Add +7.1% | 1.14% | +0.28 |
| CTMX Cytomx Therapeutics Inc. | New | 0.25% | +0.25 |
| MAZE Maze Therapeutics Inc. | New | 0.24% | +0.24 |
| SCYX Scynexis Inc. | New | 0.23% | +0.23 |
| RARE Ultragenyx Pharmaceutical Inc. | Add +281.9% | 0.30% | +0.21 |
| MPLT Maplight Therapeutics Inc. | Add +18.9% | 0.80% | +0.21 |
| ZBIO Zenas Biopharma Inc. | New | 0.19% | +0.19 |
| BCRX Biocryst Pharmaceuticals Inc. | Add +2.9% | 0.94% | +0.18 |
| STOK Stoke Therapeutics Inc. | Add +20.2% | 0.98% | +0.17 |
| NAMS Newamsterdam Pharma Co. NV | New | 0.15% | +0.15 |
| PLRX Pliant Therapeutics Inc. | New | 0.14% | +0.14 |
| NGNE Neurogene Inc. | Add +102.5% | 0.26% | +0.13 |
| IBIO Ibio Inc. | New | 0.08% | +0.08 |
| PODD Insulet Corp. | Add +58.2% | 0.53% | +0.07 |
| NMRA Neumora Therapeutics Inc. | New | 0.03% | +0.03 |
| INSP Inspire Medical Systems Inc. | Add +111.6% | 0.22% | +0.03 |
| MBX MBX Biosciences Inc. | Add +6.2% | 1.21% | −0.02 |
| ENGN Engene Holdings Inc. | Add +14.5% | 0.29% | −0.05 |
| GPCR Structure Therapeutics Inc. | Add +25.7% | 0.52% | −0.09 |
| INGN Inogen Inc. | Add +2.2% | 1.20% | −0.10 |
| ARAY Accuray Inc. | Add +20.4% | 0.15% | −0.12 |
| RCUS Arcus Biosciences Inc. | Add +2.9% | 2.21% | −0.21 |
| LXEO Lexeo Therapeutics Inc. | Add +10.6% | 0.50% | −0.30 |
| HELP Cybin Inc. | Add +9.5% | 0.55% | −0.32 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 88 | $524.4M | RVMD, XBI, CMPS, STXS, NKTR |
| Q1 2026 | 82 | $433.7M | RVMD, XBI, STXS, DAWN, ATRC |
| Q4 2025 | 76 | $425.1M | RVMD, XBI, STXS, ATRC, CYTK |
| Q3 2025 | 74 | $399.3M | STXS, XBI, RVMD, CYTK, ATRC |
| Q2 2025 | 75 | $357.2M | XBI, STXS, RVMD, BPMC, MRUS |
| Q1 2025 | 82 | $348.0M | XBI, STXS, RVMD, MRUS, ATRC |
| Q4 2024 | 81 | $389.0M | XBI, STXS, RVMD, ATRC, MRUS |
| Q3 2024 | 83 | $418.6M | XBI, STXS, RVMD, CYTK, MRUS |
| Q2 2024 | 82 | $414.1M | XBI, STXS, MRUS, CYTK, RVMD |
| Q1 2024 | 71 | $434.7M | XBI, STXS, CYTK, IDYA, MRUS |