NEXTBio Capital Management LP
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 14, 2026), NEXTBio Capital Management LP reported 24 stock positions worth $215.4 million. Its top holding was Terns Pharmaceuticals (TERN) at 14.8% of the portfolio, followed by Protagonist Therapeutics (PTGX, 11.2%) and Shattuck Labs (STTK, 9.4%). Compared with Q4 2025, it opened 1 new position, added to 9 and reduced 7. The biggest buy was Compass Pathways (CMPS, shares +169%) and the biggest sale Verastem (VSTM, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- AUSTIN, TX
- CIK
- 0002038158
- Portfolio Value
- $215.4M (Q1 2026)
- SEC Filing
- 0001172661-26-001957 ↗ filed May 14, 2026
Holdings Value
Holdings 24 stocks · $215.4M
| TERN Terns Pharmaceuticals Inc. | 14.80% | 604,534 | $31.9M | Add +9.7% |
| PTGX Protagonist Therapeutics Inc. | 11.24% | 229,619 | $24.2M | No change |
| STTK Shattuck Labs Inc. | 9.40% | 3,149,907 | $20.3M | No change |
| VOR Vor Biopharma Inc. | 8.28% | 999,967 | $17.8M | No change |
| CMPS Compass Pathways PLC | 5.19% | 2,021,407 | $11.2M | Add +168.6% |
| RYTM Rhythm Pharmaceuticals Inc. | 5.09% | 126,078 | $11.0M | Add +86.5% |
| XENE Xenon Pharmaceuticals Inc. | 4.95% | 183,225 | $10.7M | Reduce -0.3% |
| PVLA Palvella Therapeutics Inc. | 4.79% | 82,686 | $10.3M | No change |
| ZBIO Zenas Biopharma Inc. | 3.87% | 426,736 | $8.3M | Add +32.5% |
| IVA Inventiva SA - ADR | 3.44% | 1,333,484 | $7.4M | Add +2.7% |
| VSTM Verastem Inc. | 3.22% | 1,306,800 | $6.9M | Reduce -0.0% |
| CBIO Crescent Biopharma Inc. | 3.18% | 372,856 | $6.8M | No change |
| ORIC Oric Pharmaceuticals Inc. | 3.08% | 523,619 | $6.6M | Reduce -15.0% |
| GPCR Structure Therapeutics Inc. | 2.98% | 133,239 | $6.4M | Add +41.1% |
| PCVX Vaxcyte Inc. | 2.57% | 95,223 | $5.5M | Reduce -0.3% |
| COGT Cogent Biosciences Inc. | 2.34% | 131,188 | $5.0M | Add +36.9% |
| CMPX Compass Therapeutics Inc. | 2.08% | 848,204 | $4.5M | Reduce -23.9% |
| EVMN Evommune Inc. | 1.96% | 184,063 | $4.2M | Reduce -19.4% |
| OCS Oculis Holding AG | 1.85% | 149,592 | $4.0M | Reduce -0.1% |
| ZLAB Zai Lab Ltd.-ADR | 1.60% | 183,362 | $3.4M | Add +12.2% |
| IRON Disc Medicine Inc. | 1.56% | 52,655 | $3.4M | Add +23.1% |
| KALV Kalvista Pharmaceuticals Inc. | 1.23% | 131,796 | $2.7M | No change |
| SMMT Summit Therapeutics Inc. | 0.79% | 89,717 | $1.7M | New |
| ACET Adicet Bio Inc. | 0.50% | 157,827 | $1.1M | No change |
Portfolio Sells Q4 2025 → Q1 2026
| VSTM Verastem Inc. | Reduce -0.0% | 3.22% | −2.70 |
| CMPX Compass Therapeutics Inc. | Reduce -23.9% | 2.08% | −1.43 |
| EVMN Evommune Inc. | Reduce -19.4% | 1.96% | −0.33 |
| PCVX Vaxcyte Inc. | Reduce -0.3% | 2.57% | −0.01 |
| OCS Oculis Holding AG | Reduce -0.1% | 1.85% | +0.09 |
| XENE Xenon Pharmaceuticals Inc. | Reduce -0.3% | 4.95% | +0.12 |
| ORIC Oric Pharmaceuticals Inc. | Reduce -15.0% | 3.08% | +0.13 |
Portfolio Buys Q4 2025 → Q1 2026
| CMPS Compass Pathways PLC | Add +168.6% | 5.19% | +2.14 |
| TERN Terns Pharmaceuticals Inc. | Add +9.7% | 14.80% | +1.74 |
| RYTM Rhythm Pharmaceuticals Inc. | Add +86.5% | 5.09% | +0.85 |
| SMMT Summit Therapeutics Inc. | New | 0.79% | +0.79 |
| COGT Cogent Biosciences Inc. | Add +36.9% | 2.34% | +0.35 |
| ZLAB Zai Lab Ltd.-ADR | Add +12.2% | 1.60% | −0.09 |
| IVA Inventiva SA - ADR | Add +2.7% | 3.44% | −0.11 |
| IRON Disc Medicine Inc. | Add +23.1% | 1.56% | −0.43 |
| GPCR Structure Therapeutics Inc. | Add +41.1% | 2.98% | −0.87 |
| ZBIO Zenas Biopharma Inc. | Add +32.5% | 3.87% | −2.98 |