Perceptive Advisors LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Perceptive Advisors LLC reported 95 stock positions worth $3.6 billion. Its top holding was Verona Pharma (VRNA) at 8.3% of the portfolio, followed by Arcellx (ACLX, 7.4%) and Amicus Therapeutics (FOLD, 6.4%). Compared with Q3 2024, it opened 21 new positions, sold out of 25, added to 12 and reduced 43. The biggest buy was Verona Pharma (VRNA, shares +1%) and the biggest sale an exit from Biohaven (BHVN).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001224962
- Portfolio Value
- $3.6B (Q4 2024)
- SEC Filing
- 0001012975-25-000090 ↗ filed Feb 14, 2025
Holdings Value
Holdings 95 stocks · $3.6B
| VRNA Verona Pharma Ltd. | 8.27% | 6,392,106 | $296.8M | Add +1.2% |
| ACLX Arcellx Inc. | 7.43% | 3,478,888 | $266.8M | Reduce -10.5% |
| FOLD Amicus Therapeutics Inc. | 6.36% | 24,245,952 | $228.4M | Reduce -13.6% |
| RYTM Rhythm Pharmaceuticals Inc. | 5.74% | 3,680,473 | $206.0M | Add +3.4% |
| NUVL Nuvalent Inc. Class A | 5.71% | 2,619,977 | $205.1M | Reduce -12.1% |
| IOVA Iovance Biotherapeutics Inc. | 4.56% | 22,112,266 | $163.6M | Reduce -16.9% |
| PCVX Vaxcyte Inc. | 3.92% | 1,718,417 | $140.7M | Reduce -15.3% |
| ITCI Intra-Cellular Therapies Inc. | 3.00% | 1,288,328 | $107.6M | Reduce -20.6% |
| CNTA Centessa Pharmaceuticals Ltd. | 2.96% | 6,349,220 | $106.3M | Add +1.1% |
| PRAX Praxis Precision Medicines I | 2.85% | 1,329,735 | $102.3M | Add +14.2% |
| AORT Artivion Inc. | 2.23% | 2,793,703 | $79.9M | No change |
| MGTX Meiragtx Holdings PLC | 2.13% | 12,581,103 | $76.6M | No change |
| EWTX Edgewise Therapeutics Inc. | 2.00% | 2,685,537 | $71.7M | Add +15.2% |
| SLNO Soleno Therapeutics Inc. | 1.88% | 1,501,040 | $67.5M | Reduce -53.2% |
| IMTX Immatics NV | 1.86% | 9,383,456 | $66.7M | Add +16.0% |
| PODD Insulet Corp. | 1.69% | 232,269 | $60.6M | Add +63.3% |
| SYRE Spyre Therapeutics Inc. | 1.67% | 2,574,723 | $59.9M | Reduce -10.4% |
| ATXS Astria Therapeutics Inc. | 1.62% | 6,485,420 | $58.0M | No change |
| EOLS Evolus Inc. | 1.58% | 5,145,846 | $56.8M | Reduce -3.9% |
| AXSM Axsome Therapeutics Inc. | 1.57% | 664,074 | $56.2M | Reduce -15.2% |
| CRGX Cargo Therapeutics Inc. | 1.48% | 3,683,004 | $53.1M | No change |
| IMVT Immunovant Inc. | 1.48% | 2,139,199 | $53.0M | Reduce -10.1% |
| PTGX Protagonist Therapeutics Inc. | 1.37% | 1,271,662 | $49.1M | Reduce -7.5% |
| APGE Apogee Therapeutics Inc. | 1.32% | 1,047,232 | $47.4M | Reduce -48.0% |
| ALDX Aldeyra Therapeutics Inc. | 1.29% | 9,275,851 | $46.3M | No change |
| JANX Janux Therapeutics Inc. | 1.22% | 817,895 | $43.8M | New |
| ARGX Argenx SE - ADR | 1.16% | 67,471 | $41.5M | Reduce -43.2% |
| VKTX Viking Therapeutics Inc. | 1.12% | 995,894 | $40.1M | Reduce -41.4% |
| AKRO Akero Therapeutics Inc. | 0.92% | 1,185,592 | $33.0M | Reduce -30.9% |
| ISRG Intuitive Surgical Inc. | 0.92% | 63,119 | $32.9M | Add +8.6% |
| ACRV Acrivon Therapeutics Inc. | 0.90% | 5,360,858 | $32.3M | No change |
| ZYME Zymeworks Inc. | 0.87% | 2,130,020 | $31.2M | Reduce -2.3% |
| CELC Celcuity Inc. | 0.86% | 2,362,279 | $30.9M | No change |
| VRDN Viridian Therapeutics Inc. | 0.79% | 1,486,508 | $28.5M | Reduce -47.1% |
| SLDB Solid Biosciences Inc. | 0.77% | 6,906,646 | $27.6M | No change |
| AMLX Amylyx Pharmaceuticals Inc. | 0.71% | 6,774,348 | $25.6M | Add +218.7% |
| PRCT Procept Biorobotics Corp. | 0.65% | 290,659 | $23.4M | Reduce -7.9% |
| NAUT Nautilus Biotechnology Inc. | 0.59% | 12,594,211 | $21.2M | No change |
| CTNM Contineum Therapeutics Inc. Class A | 0.59% | 1,441,249 | $21.1M | Reduce -5.0% |
| NTRA Natera Inc. | 0.55% | 125,000 | $19.8M | Reduce -43.2% |
| IKT Inhibikase Therapeutics Inc. | 0.54% | 5,925,000 | $19.3M | New |
| OBIO Orchestra Biomed Holdings Inc. | 0.51% | 4,592,556 | $18.4M | No change |
| PEN Penumbra Inc. | 0.49% | 73,338 | $17.4M | New |
| SEPN Septerna Inc. | 0.48% | 750,000 | $17.2M | New |
| ORKA Oruka Therapeutics Inc. | 0.46% | 845,567 | $16.4M | Reduce -31.5% |
| INBX Inhibrx Biosciences Inc. | 0.46% | 1,064,026 | $16.4M | No change |
| ADMA Adma Biologics Inc. | 0.43% | 890,280 | $15.3M | Reduce -16.0% |
| DRUG Bright Minds Biosciences Inc. | 0.41% | 403,649 | $14.5M | New |
| ARVN Arvinas Inc. | 0.40% | 740,749 | $14.2M | Reduce -27.9% |
| NBIX Neurocrine Biosciences Inc. | 0.38% | 100,050 | $13.7M | Reduce -52.9% |
| DYN Dyne Therapeutics Inc. | 0.36% | 543,277 | $12.8M | Reduce -24.4% |
| XENE Xenon Pharmaceuticals Inc. | 0.36% | 325,324 | $12.8M | Reduce -38.0% |
| MRUS Merus NV | 0.35% | 300,000 | $12.6M | No change |
| CGON CG Oncology Inc. | 0.34% | 419,450 | $12.0M | Reduce -42.8% |
| AVR Anteris Technologies Global | 0.33% | 2,140,000 | $11.9M | New |
| EYPT Eyepoint Inc. | 0.32% | 1,537,274 | $11.5M | Add +48.2% |
| EW Edwards Lifesciences Corp. | 0.30% | 145,000 | $10.7M | New |
| TARS Tarsus Pharmaceuticals Inc. | 0.29% | 186,662 | $10.3M | Reduce -85.6% |
| ADGM Adagio Medical Holdings Inc. | 0.29% | 9,812,419 | $10.3M | No change |
| INSM Insmed Inc. | 0.28% | 144,000 | $9.9M | Reduce -20.0% |
| CRNX Crinetics Pharmaceuticals Inc. | 0.26% | 184,525 | $9.4M | Reduce -74.5% |
| RAPT THERAPEUTICS INC | 0.26% | 5,880,000 | $9.3M | New |
| OCUL Ocular Therapeutix Inc. | 0.26% | 1,078,495 | $9.2M | Reduce -67.6% |
| NARI Inari Medical Inc. | 0.25% | 178,797 | $9.1M | New |
| OKUR Onkure Therapeutics Inc. Class A | 0.24% | 1,004,439 | $8.6M | New |
| NRIX Nurix Therapeutics Inc. | 0.17% | 330,614 | $6.2M | New |
| ZBIO Zenas Biopharma Inc. | 0.17% | 744,035 | $6.1M | Reduce -35.0% |
| IRTC Irhythm Holdings Inc. | 0.16% | 65,153 | $5.9M | Add +188.4% |
| RAPP Rapport Therapeutics Inc. | 0.15% | 311,551 | $5.5M | Reduce -58.4% |
| BBOT Bridgebio Oncology Therapeut filed as HELIX ACQUISITION CORP II | 0.15% | 500,000 | $5.3M | No change |
| RCKT Rocket Pharmaceuticals Inc. | 0.13% | 378,584 | $4.8M | Reduce -59.4% |
| CBLL Ceribell Inc. | 0.13% | 180,546 | $4.7M | New |
| VERU Veru Inc. | 0.12% | 6,483,157 | $4.2M | Reduce -11.0% |
| MREO Mereo Biopharma Group PL-ADR | 0.11% | 1,085,512 | $3.8M | Add +33.1% |
| CATX Perspective Therapeutics Inc. | 0.11% | 1,190,263 | $3.8M | New |
| LCTX Lineage Cell Therapeutics Inc. | 0.10% | 7,236,843 | $3.6M | New |
| BDSX Biodesix Inc. | 0.09% | 2,173,880 | $3.3M | No change |
| ATHIRA PHARMA INC | 0.09% | 5,402,964 | $3.2M | No change |
| PEPG Pepgen Inc. | 0.09% | 829,536 | $3.1M | Reduce -41.2% |
| IBRX Immunitybio Inc. | 0.09% | 1,221,734 | $3.1M | New |
| BCYC Bicycle Therapeutics PLC-ADR | 0.08% | 197,108 | $2.8M | Reduce -23.0% |
| LYRA Lyra Therapeutics Inc. | 0.07% | 12,757,562 | $2.6M | No change |
| VRCA Verrica Pharmaceuticals Inc. | 0.06% | 3,249,669 | $2.3M | Reduce -54.2% |
| FBRX Forte Biosciences Inc. | 0.06% | 95,742 | $2.2M | No change |
| SCPH Scpharmaceuticals Inc. | 0.05% | 500,000 | $1.8M | New |
| TRINITY BIOTECH INVT LTD | 0.04% | 1,790,000 | $1.6M | Reduce -0.6% |
| TRAW Traws Pharma Inc. | 0.04% | 164,157 | $1.5M | New |
| FULC Fulcrum Therapeutics Inc. | 0.03% | 238,000 | $1.1M | New |
| LXEO Lexeo Therapeutics Inc. | 0.03% | 139,835 | $920K | No change |
| NBTX Nanobiotix SA - ADR | 0.02% | 266,093 | $764K | Reduce -52.1% |
| APLT Applied Therapeutics Inc. | 0.02% | 860,000 | $736K | Reduce -89.3% |
| ENSC Ensysce Biosciences Inc. | 0.02% | 86,666 | $705K | New |
| DCTH Delcath Systems Inc. | 0.02% | 50,000 | $602K | New |
| PYXS Pyxis Oncology Inc. | 0.01% | 188,462 | $294K | Reduce -62.9% |
| APYX Apyx Medical Corp. | 0.01% | 150,000 | $237K | New |
Options reported separately and not counted above: PRAX calls ($38.5M), NVAX puts ($804K).
Other holdings (2): bonds, preferreds, convertibles and warrants · $49K (not counted above)
Total filed on the 13F, all lines: $3.6B.
Portfolio Sells Q3 2024 → Q4 2024
| BHVN Biohaven Ltd. | Sold out | 0.00% | −1.59 |
| SLNO Soleno Therapeutics Inc. | Reduce -53.2% | 1.88% | −1.59 |
| APLT Applied Therapeutics Inc. | Reduce -89.3% | 0.02% | −1.44 |
| APGE Apogee Therapeutics Inc. | Reduce -48.0% | 1.32% | −1.22 |
| VKTX Viking Therapeutics Inc. | Reduce -41.4% | 1.12% | −1.19 |
| PCVX Vaxcyte Inc. | Reduce -15.3% | 3.92% | −1.05 |
| NUVL Nuvalent Inc. Class A | Reduce -12.1% | 5.71% | −0.83 |
| IOVA Iovance Biotherapeutics Inc. | Reduce -16.9% | 4.56% | −0.80 |
| TARS Tarsus Pharmaceuticals Inc. | Reduce -85.6% | 0.29% | −0.63 |
| VRDN Viridian Therapeutics Inc. | Reduce -47.1% | 0.79% | −0.58 |
| CRNX Crinetics Pharmaceuticals Inc. | Reduce -74.5% | 0.26% | −0.53 |
| TIL Instil Bio Inc. | Sold out | 0.00% | −0.50 |
| LIVN Livanova PLC | Sold out | 0.00% | −0.48 |
| SWTX Springworks Therapeutics Inc. | Sold out | 0.00% | −0.48 |
| MDT Medtronic PLC | Sold out | 0.00% | −0.47 |
| IRON Disc Medicine Inc. | Sold out | 0.00% | −0.41 |
| OCUL Ocular Therapeutix Inc. | Reduce -67.6% | 0.26% | −0.36 |
| EOLS Evolus Inc. | Reduce -3.9% | 1.58% | −0.28 |
| ICLR Icon PLC | Sold out | 0.00% | −0.27 |
| ARQT Arcutis Biotherapeutics Inc. | Sold out | 0.00% | −0.27 |
| CGON CG Oncology Inc. | Reduce -42.8% | 0.34% | −0.26 |
| TYRA Tyra Biosciences Inc. | Sold out | 0.00% | −0.26 |
| ZBIO Zenas Biopharma Inc. | Reduce -35.0% | 0.17% | −0.25 |
| RCKT Rocket Pharmaceuticals Inc. | Reduce -59.4% | 0.13% | −0.24 |
| XNCR Xencor Inc. | Sold out | 0.00% | −0.23 |
| ARGX Argenx SE - ADR | Reduce -43.2% | 1.16% | −0.23 |
| ROIV Roivant Sciences Ltd. | Sold out | 0.00% | −0.21 |
| AVBP Arrivent Biopharma Inc. | Sold out | 0.00% | −0.21 |
| DYN Dyne Therapeutics Inc. | Reduce -24.4% | 0.36% | −0.20 |
| ORKA Oruka Therapeutics Inc. | Reduce -31.5% | 0.46% | −0.19 |
| EXAS Exact Sciences Corp. | Sold out | 0.00% | −0.18 |
| RAPP Rapport Therapeutics Inc. | Reduce -58.4% | 0.15% | −0.17 |
| PEPG Pepgen Inc. | Reduce -41.2% | 0.09% | −0.17 |
| ALLO Allogene Therapeutics Inc. | Sold out | 0.00% | −0.16 |
| VRCA Verrica Pharmaceuticals Inc. | Reduce -54.2% | 0.06% | −0.16 |
| ARVN Arvinas Inc. | Reduce -27.9% | 0.40% | −0.15 |
| NBIX Neurocrine Biosciences Inc. | Reduce -52.9% | 0.38% | −0.14 |
| SYRE Spyre Therapeutics Inc. | Reduce -10.4% | 1.67% | −0.14 |
| AKRO Akero Therapeutics Inc. | Reduce -30.9% | 0.92% | −0.14 |
| XENE Xenon Pharmaceuticals Inc. | Reduce -38.0% | 0.36% | −0.09 |
| DTIL Precision Biosciences Inc. | Sold out | 0.00% | −0.08 |
| FOLD Amicus Therapeutics Inc. | Reduce -13.6% | 6.36% | −0.07 |
| ABSI Absci Corp. | Sold out | 0.00% | −0.06 |
| XFOR X4 Pharmaceuticals Inc. | Sold out | 0.00% | −0.05 |
| NVNO Envveno Medical Corporation | Sold out | 0.00% | −0.05 |
| NTRA Natera Inc. | Reduce -43.2% | 0.55% | −0.05 |
| BCYC Bicycle Therapeutics PLC-ADR | Reduce -23.0% | 0.08% | −0.05 |
| NBTX Nanobiotix SA - ADR | Reduce -52.1% | 0.02% | −0.05 |
| KYMR Kymera Therapeutics Inc. | Sold out | 0.00% | −0.05 |
| CTNM Contineum Therapeutics Inc. Class A | Reduce -5.0% | 0.59% | −0.03 |
Portfolio Buys Q3 2024 → Q4 2024
| VRNA Verona Pharma Ltd. | Add +1.2% | 8.27% | +4.37 |
| RYTM Rhythm Pharmaceuticals Inc. | Add +3.4% | 5.74% | +1.74 |
| PRAX Praxis Precision Medicines I | Add +14.2% | 2.85% | +1.41 |
| JANX Janux Therapeutics Inc. | New | 1.22% | +1.22 |
| PODD Insulet Corp. | Add +63.3% | 1.69% | +0.98 |
| CNTA Centessa Pharmaceuticals Ltd. | Add +1.1% | 2.96% | +0.81 |
| EWTX Edgewise Therapeutics Inc. | Add +15.2% | 2.00% | +0.66 |
| AMLX Amylyx Pharmaceuticals Inc. | Add +218.7% | 0.71% | +0.57 |
| IKT Inhibikase Therapeutics Inc. | New | 0.54% | +0.54 |
| PEN Penumbra Inc. | New | 0.49% | +0.49 |
| SEPN Septerna Inc. | New | 0.48% | +0.48 |
| DRUG Bright Minds Biosciences Inc. | New | 0.41% | +0.41 |
| AVR Anteris Technologies Global | New | 0.33% | +0.33 |
| ISRG Intuitive Surgical Inc. | Add +8.6% | 0.92% | +0.31 |
| EW Edwards Lifesciences Corp. | New | 0.30% | +0.30 |
| RAPT THERAPEUTICS INC | New | 0.26% | +0.26 |
| NARI Inari Medical Inc. | New | 0.25% | +0.25 |
| OKUR Onkure Therapeutics Inc. Class A | New | 0.24% | +0.24 |
| NRIX Nurix Therapeutics Inc. | New | 0.17% | +0.17 |
| EYPT Eyepoint Inc. | Add +48.2% | 0.32% | +0.14 |
| CBLL Ceribell Inc. | New | 0.13% | +0.13 |
| IRTC Irhythm Holdings Inc. | Add +188.4% | 0.16% | +0.13 |
| CATX Perspective Therapeutics Inc. | New | 0.11% | +0.11 |
| LCTX Lineage Cell Therapeutics Inc. | New | 0.10% | +0.10 |
| IBRX Immunitybio Inc. | New | 0.09% | +0.09 |
| SCPH Scpharmaceuticals Inc. | New | 0.05% | +0.05 |
| TRAW Traws Pharma Inc. | New | 0.04% | +0.04 |
| MREO Mereo Biopharma Group PL-ADR | Add +33.1% | 0.11% | +0.03 |
| FULC Fulcrum Therapeutics Inc. | New | 0.03% | +0.03 |
| ENSC Ensysce Biosciences Inc. | New | 0.02% | +0.02 |
| DCTH Delcath Systems Inc. | New | 0.02% | +0.02 |
| APYX Apyx Medical Corp. | New | 0.01% | +0.01 |
| IMTX Immatics NV | Add +16.0% | 1.86% | −0.12 |
Options Activity Q3 2024 → Q4 2024
| XBI SS SPDR S&P Biotech ETF | put | Sold out | 400,000 | $39.5Mbefore exit |
| PRAX Praxis Precision Medicines I | call | New | 500,000 | $38.5M |
| VRNA Verona Pharma Ltd. | call | Sold out | 250,000 | $7.2Mbefore exit |
| VRNA Verona Pharma Ltd. | put | Sold out | 250,000 | $7.2Mbefore exit |
| FLNA Filana Therapeutics Inc. | put | Sold out | 183,000 | $5.4Mbefore exit |
| FULC Fulcrum Therapeutics Inc. | call | Sold out | 1,500,000 | $5.4Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2024 → Q4 2024
| CMXWQ Caremax-CW | *W EXP 06/08/202 | Sold out | 60,000 | $594before exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 99 | $6.4B | PRAX, SYRE, CELC, ASND, RYTM |
| Q1 2026Amended | 89 | $5.0B | PRAX, CELC, ASND, ROIV, CNTA |
| Q4 2025 | 109 | $5.4B | PRAX, CELC, RYTM, ASND, APGE |
| Q3 2025 | 88 | $3.4B | RYTM, ASND, ACLX, CELC, NUVL |
| Q2 2025 | 80 | $2.7B | VRNA, ASND, ACLX, RYTM, NUVL |
| Q1 2025Amended | 84 | $2.8B | VRNA, ACLX, FOLD, EWTX, RYTM |
| Q4 2024 | 95 | $3.6B | VRNA, ACLX, FOLD, RYTM, NUVL |
| Q3 2024 | 99 | $4.7B | ACLX, NUVL, FOLD, IOVA, PCVX |
| Q2 2024Amended | 104 | $4.1B | CERE, FOLD, ACLX, IOVA, NUVL |
| Q1 2024Amended | 102 | $5.7B | CERE, FOLD, IOVA, ACLX, NUVL |