Lion Point Capital, LP
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Lion Point Capital, LP reported 35 stock positions worth $16.7 million. Its top holding was Praxis Precision Medicines I (PRAX) at 8.6% of the portfolio, followed by Moonlake Immunotherapeutics (MLTX, 7.5%) and Royalty Pharma Class A (RPRX, 6.1%). Compared with Q4 2025, it sold out of 4 and added to 3. The biggest buy was Compass Pathways (CMPS, shares +38%) and the biggest sale an exit from Day One Biopharmaceuticals I (DAWN).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001643354
- Portfolio Value
- $16.7M (Q1 2026)
- SEC Filing
- 0001013594-26-000605 ↗ filed May 15, 2026
Holdings Value
Holdings 35 stocks · $16.7M
| PRAX Praxis Precision Medicines I | 8.57% | 4,450 | $1.4M | No change |
| MLTX Moonlake Immunotherapeutics | 7.52% | 67,500 | $1.3M | No change |
| RPRX Royalty Pharma PLC Class A | 6.14% | 21,400 | $1.0M | No change |
| MIST Milestone Pharmaceuticals Inc. | 5.83% | 820,000 | $976K | Add +8.6% |
| GERN Geron Corp. | 5.15% | 578,000 | $861K | No change |
| SNDX Syndax Pharmaceuticals Inc. | 5.03% | 36,000 | $841K | No change |
| ARDX Ardelyx Inc. | 4.61% | 128,650 | $771K | No change |
| FENC Fennec Pharmaceuticals Inc. | 4.13% | 112,434 | $691K | No change |
| BNTC Benitec Biopharma Inc. | 3.95% | 62,000 | $660K | No change |
| SRPT Sarepta Therapeutics Inc. | 3.71% | 28,500 | $620K | No change |
| IRON Disc Medicine Inc. | 3.10% | 8,100 | $518K | No change |
| CUE Cue Biopharma Inc. | 3.03% | 2,202,854 | $506K | No change |
| CMPS Compass Pathways PLC | 2.64% | 80,000 | $442K | Add +37.9% |
| BHVN Biohaven Ltd. | 2.61% | 51,700 | $437K | No change |
| LNTH Lantheus Holdings Inc. | 2.49% | 5,500 | $417K | No change |
| JSPR Jasper Therapeutics Inc. | 2.44% | 465,000 | $407K | No change |
| HUMA Humacyte Inc. | 2.36% | 650,000 | $394K | Add +30.0% |
| VTRS Viatris Inc. | 2.24% | 27,700 | $374K | No change |
| KURA Kura Oncology Inc. | 2.24% | 46,000 | $374K | No change |
| BBIO Bridgebio Pharma Inc. | 2.22% | 5,000 | $371K | No change |
| DYN Dyne Therapeutics Inc. | 1.95% | 18,000 | $326K | No change |
| RCKT Rocket Pharmaceuticals Inc. | 1.84% | 86,000 | $308K | No change |
| PCRX Pacira Biosciences Inc. | 1.82% | 13,500 | $305K | No change |
| EWTX Edgewise Therapeutics Inc. | 1.71% | 9,100 | $287K | No change |
| MLYS Mineralys Therapeutics Inc. | 1.70% | 10,500 | $284K | No change |
| MCRB Seres Therapeutics Inc. | 1.67% | 31,570 | $280K | No change |
| JANX Janux Therapeutics Inc. | 1.58% | 19,000 | $264K | No change |
| QURE Uniqure NV | 1.44% | 14,700 | $240K | No change |
| RGNX Regenxbio Inc. | 1.33% | 26,600 | $223K | No change |
| AZTA Azenta Inc. | 1.23% | 9,700 | $205K | No change |
| INVA Innoviva Inc. | 1.14% | 8,200 | $191K | No change |
| GHRS GH Research PLC | 0.86% | 10,200 | $143K | No change |
| ARQT Arcutis Biotherapeutics Inc. | 0.74% | 5,250 | $124K | No change |
| IPHA Innate Pharma SA-Spons ADR | 0.62% | 81,151 | $104K | No change |
| SPRB Spruce Biosciences Inc. | 0.39% | 1,000 | $65K | No change |
Portfolio Sells Q4 2025 → Q1 2026
Portfolio Buys Q4 2025 → Q1 2026
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 35 | $20.9M | CUE, PRAX, MLTX, FENC, RPRX |
| Q1 2026 | 35 | $16.7M | PRAX, MLTX, RPRX, MIST, GERN |
| Q4 2025 | 39 | $19.3M | MIST, PRAX, MLTX, FENC, JSPR |
| Q3 2025 | 27 | $17.6M | MLYS, MIST, FENC, JSPR, AVDL |
| Q2 2025 | 19 | $14.7M | FENC, ARDX, KNSA, BBIO, INSM |
| Q1 2025 | 21 | $15.7M | INSM, ARDX, MLYS, FENC, KNSA |
| Q4 2024 | 19 | $19.1M | INSM, MIST, GERN, ARDX, FENC |
| Q3 2024 | 23 | $24.9M | INSM, GERN, ARDX, MIST, BHVN |
| Q2 2024 | 23 | $31.9M | ARDX, INSM, MIST, GERN, MRNS |
| Q1 2024 | 26 | $51.6M | MRNS, ARDX, MIST, KNSA, GERN |