Paradigm Biocapital Advisors LP
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Paradigm Biocapital Advisors LP reported 28 stock positions worth $2.9 billion. Its top holding was Nuvalent Class A (NUVL) at 14.6% of the portfolio, followed by Arcellx (ACLX, 11.7%) and Argenx SE - ADR (ARGX, 10.3%). Compared with Q3 2024, it opened 4 new positions, sold out of 7, added to 20 and reduced 3. The biggest buy was Janux Therapeutics (JANX, shares +46%) and the biggest sale an exit from Kura Oncology (KURA).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001855655
- Portfolio Value
- $2.9B (Q4 2024)
- SEC Filing
- 0001855655-25-000004 ↗ filed Feb 14, 2025
Holdings Value
Holdings 28 stocks · $2.9B
| NUVL Nuvalent Inc. Class A | 14.61% | 5,363,379 | $419.8M | Add +7.3% |
| ACLX Arcellx Inc. | 11.66% | 4,371,601 | $335.3M | Add +9.3% |
| ARGX Argenx SE - ADR | 10.30% | 481,305 | $296.0M | Add +0.2% |
| RVMD Revolution Medicines Inc. | 9.97% | 6,553,111 | $286.6M | Add +23.3% |
| JANX Janux Therapeutics Inc. | 6.55% | 3,515,986 | $188.2M | Add +46.5% |
| TARS Tarsus Pharmaceuticals Inc. | 4.88% | 2,531,896 | $140.2M | Add +3.8% |
| EWTX Edgewise Therapeutics Inc. | 4.17% | 4,493,929 | $120.0M | Add +61.1% |
| PCVX Vaxcyte Inc. | 4.05% | 1,422,787 | $116.5M | Add +126.7% |
| ONC Beone Medicines Ltd.-ADR filed as BEIGENE LTD | 3.96% | 616,024 | $113.8M | Add +207.5% |
| CRNX Crinetics Pharmaceuticals Inc. | 3.40% | 1,910,761 | $97.7M | Reduce -24.1% |
| MLTX Moonlake Immunotherapeutics | 3.34% | 1,772,211 | $96.0M | Add +90.3% |
| IRON Disc Medicine Inc. | 3.30% | 1,497,720 | $95.0M | No change |
| MRUS Merus NV | 2.47% | 1,689,922 | $71.1M | Reduce -31.2% |
| VERA Vera Therapeutics Inc. | 2.11% | 1,437,339 | $60.8M | Add +31.0% |
| APGE Apogee Therapeutics Inc. | 2.02% | 1,283,766 | $58.2M | Add +82.9% |
| OLMA Olema Pharmaceuticals Inc. | 1.48% | 7,304,970 | $42.6M | Add +32.7% |
| PLRX Pliant Therapeutics Inc. | 1.47% | 3,197,050 | $42.1M | Add +3.0% |
| IMTX Immatics NV | 1.34% | 5,414,409 | $38.5M | Add +38.7% |
| COGT Cogent Biosciences Inc. | 1.33% | 4,917,412 | $38.4M | Add +6.7% |
| SYRE Spyre Therapeutics Inc. | 1.24% | 1,527,205 | $35.6M | Add +20.5% |
| VRDN Viridian Therapeutics Inc. | 1.21% | 1,820,079 | $34.9M | Reduce -37.1% |
| YMAB Y-Mabs Therapeutics Inc. | 1.15% | 4,236,346 | $33.2M | Add +3.7% |
| ERAS Erasca Inc. | 0.94% | 10,752,354 | $27.0M | Add +0.8% |
| TECX Tectonic Therapeutic Inc. | 0.78% | 485,105 | $22.4M | New |
| LENZ Lenz Therapeutics Inc. | 0.77% | 770,455 | $22.2M | New |
| SRRK Scholar Rock Holding Corp. | 0.60% | 400,000 | $17.3M | New |
| ORKA Oruka Therapeutics Inc. | 0.55% | 819,660 | $15.9M | Add +13.9% |
| AGIO Agios Pharmaceuticals Inc. | 0.32% | 276,439 | $9.1M | New |
Portfolio Sells Q3 2024 → Q4 2024
| KURA Kura Oncology Inc. | Sold out | 0.00% | −2.96 |
| ARVN Arvinas Inc. | Sold out | 0.00% | −2.02 |
| MRUS Merus NV | Reduce -31.2% | 2.47% | −1.82 |
| CGEM Cullinan Therapeutics Inc. | Sold out | 0.00% | −1.36 |
| IMVT Immunovant Inc. | Sold out | 0.00% | −1.36 |
| CRNX Crinetics Pharmaceuticals Inc. | Reduce -24.1% | 3.40% | −1.10 |
| VRDN Viridian Therapeutics Inc. | Reduce -37.1% | 1.21% | −1.09 |
| KROS Keros Therapeutics Inc. | Sold out | 0.00% | −1.07 |
| CATX Perspective Therapeutics Inc. | Sold out | 0.00% | −0.43 |
| CMPS Compass Pathways PLC | Sold out | 0.00% | −0.26 |
Portfolio Buys Q3 2024 → Q4 2024
| JANX Janux Therapeutics Inc. | Add +46.5% | 6.55% | +2.73 |
| ONC Beone Medicines Ltd.-ADR | Add +207.5% | 3.96% | +2.38 |
| TARS Tarsus Pharmaceuticals Inc. | Add +3.8% | 4.88% | +2.07 |
| MLTX Moonlake Immunotherapeutics | Add +90.3% | 3.34% | +1.70 |
| EWTX Edgewise Therapeutics Inc. | Add +61.1% | 4.17% | +1.57 |
| PCVX Vaxcyte Inc. | Add +126.7% | 4.05% | +1.54 |
| RVMD Revolution Medicines Inc. | Add +23.3% | 9.97% | +1.54 |
| ARGX Argenx SE - ADR | Add +0.2% | 10.30% | +1.19 |
| TECX Tectonic Therapeutic Inc. | New | 0.78% | +0.78 |
| LENZ Lenz Therapeutics Inc. | New | 0.77% | +0.77 |
| SRRK Scholar Rock Holding Corp. | New | 0.60% | +0.60 |
| APGE Apogee Therapeutics Inc. | Add +82.9% | 2.02% | +0.58 |
| VERA Vera Therapeutics Inc. | Add +31.0% | 2.11% | +0.42 |
| AGIO Agios Pharmaceuticals Inc. | New | 0.32% | +0.32 |
| PLRX Pliant Therapeutics Inc. | Add +3.0% | 1.47% | +0.25 |
| ACLX Arcellx Inc. | Add +9.3% | 11.66% | −0.03 |
| ORKA Oruka Therapeutics Inc. | Add +13.9% | 0.55% | −0.06 |
| SYRE Spyre Therapeutics Inc. | Add +20.5% | 1.24% | −0.07 |
| ERAS Erasca Inc. | Add +0.8% | 0.94% | −0.08 |
| IMTX Immatics NV | Add +38.7% | 1.34% | −0.22 |
| COGT Cogent Biosciences Inc. | Add +6.7% | 1.33% | −0.41 |
| YMAB Y-Mabs Therapeutics Inc. | Add +3.7% | 1.15% | −0.73 |
| OLMA Olema Pharmaceuticals Inc. | Add +32.7% | 1.48% | −0.82 |
| NUVL Nuvalent Inc. Class A | Add +7.3% | 14.61% | −3.29 |
Options Activity Q3 2024 → Q4 2024
| ACLX Arcellx Inc. | call | Sold out | 800,000 | $66.8Mbefore exit |
| PCVX Vaxcyte Inc. | call | Sold out | 276,800 | $31.6Mbefore 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 | 28 | $5.3B | RVMD, NUVL, EWTX, GMAB, SYRE |
| Q1 2026 | 35 | $4.9B | ACLX, RVMD, NUVL, PCVX, EWTX |
| Q4 2025 | 29 | $3.7B | NUVL, RVMD, ACLX, GMAB, TARS |
| Q3 2025 | 33 | $3.4B | NUVL, MRUS, ACLX, RVMD, TARS |
| Q2 2025 | 28 | $2.3B | NUVL, ACLX, MRUS, RVMD, TARS |
| Q1 2025 | 27 | $2.2B | NUVL, ACLX, RVMD, ONC, MRUS |
| Q4 2024 | 28 | $2.9B | NUVL, ACLX, ARGX, RVMD, JANX |
| Q3 2024 | 31 | $2.9B | NUVL, ACLX, ARGX, RVMD, CRNX |
| Q2 2024 | 35 | $2.6B | NUVL, ARGX, ACLX, RVMD, SRPT |
| Q1 2024 | 34 | $2.8B | NUVL, ACLX, ARGX, IRON, CRNX |