Silverarc Capital Management, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 12, 2025), Silverarc Capital Management, LLC reported 72 stock positions worth $690.7 million. Its top holding was Abivax SA-ADR (ABVX) at 6.6% of the portfolio, followed by Rhythm Pharmaceuticals (RYTM, 5.4%) and Avidity Biosciences (RNAM, 5.3%). Compared with Q2 2025, it opened 28 new positions, sold out of 12, added to 28 and reduced 15. The biggest buy was a new position in Abivax SA-ADR (ABVX) and the biggest sale an exit from Merus (MRUS).
- Most Recent 13F
- Q2 2026
- Location
- BOSTON, MA
- CIK
- 0001816307
- Portfolio Value
- $690.7M (Q3 2025)
- SEC Filing
- 0001420506-25-003142 ↗ filed Nov 12, 2025
Holdings Value
Holdings 72 stocks · $690.7M
| ABVX Abivax SA-ADR | 6.63% | 539,704 | $45.8M | New |
| RYTM Rhythm Pharmaceuticals Inc. | 5.41% | 369,996 | $37.4M | Reduce -7.7% |
| RNAM Avidity Biosciences Inc. | 5.33% | 844,633 | $36.8M | Add +106.0% |
| NUVL Nuvalent Inc. Class A | 4.66% | 372,300 | $32.2M | Add +58.0% |
| URGN Urogen Pharma Ltd. | 4.56% | 1,577,283 | $31.5M | Reduce -22.0% |
| AKRO Akero Therapeutics Inc. | 4.42% | 643,636 | $30.6M | Reduce -9.8% |
| INSM Insmed Inc. | 4.31% | 206,648 | $29.8M | Reduce -17.0% |
| DNTH Dianthus Therapeutics Inc. | 3.85% | 674,966 | $26.6M | Add +604.5% |
| QURE Uniqure NV | 3.85% | 455,000 | $26.6M | Add +124.6% |
| CGON CG Oncology Inc. | 3.72% | 638,346 | $25.7M | Add +18.0% |
| ORIC Oric Pharmaceuticals Inc. | 3.39% | 1,948,808 | $23.4M | Add +8.2% |
| CDTX Cidara Therapeutics Inc. | 3.06% | 220,902 | $21.2M | Add +112.5% |
| GUTS Fractyl Health Inc. | 2.44% | 10,600,000 | $16.9M | Add +5132.2% |
| KALV Kalvista Pharmaceuticals Inc. | 2.40% | 1,363,378 | $16.6M | Reduce -25.6% |
| KOD Kodiak Sciences Inc. | 2.37% | 1,000,000 | $16.4M | Add +149.0% |
| GOSS Gossamer Bio Inc. | 1.82% | 4,779,082 | $12.6M | Reduce -7.1% |
| COGT Cogent Biosciences Inc. | 1.69% | 815,075 | $11.7M | New |
| CYTK Cytokinetics Inc. | 1.68% | 211,000 | $11.6M | New |
| PCVX Vaxcyte Inc. | 1.64% | 314,339 | $11.3M | Add +9.2% |
| BIIB Biogen Inc. | 1.63% | 80,419 | $11.3M | New |
| ASND Ascendis Pharma A/S | 1.54% | 53,554 | $10.6M | Reduce -38.1% |
| CMPX Compass Therapeutics Inc. | 1.44% | 2,833,988 | $9.9M | Add +126.8% |
| AMLX Amylyx Pharmaceuticals Inc. | 1.38% | 700,000 | $9.5M | New |
| VSTM Verastem Inc. | 1.33% | 1,042,757 | $9.2M | New |
| AVTX Avalo Therapeutics Inc. | 1.33% | 720,922 | $9.2M | New |
| OLMA Olema Pharmaceuticals Inc. | 1.32% | 933,541 | $9.1M | New |
| CLDX Celldex Therapeutics Inc. | 1.31% | 348,922 | $9.0M | Add +75.8% |
| SRRK Scholar Rock Holding Corp. | 1.26% | 233,920 | $8.7M | Reduce -31.4% |
| VCYT Veracyte Inc. | 1.17% | 235,791 | $8.1M | Reduce -47.4% |
| SNDX Syndax Pharmaceuticals Inc. | 1.03% | 463,708 | $7.1M | Add +15.1% |
| RAPP Rapport Therapeutics Inc. | 0.88% | 203,946 | $6.1M | New |
| VRDN Viridian Therapeutics Inc. | 0.81% | 259,509 | $5.6M | New |
| ALKS Alkermes PLC | 0.78% | 180,513 | $5.4M | New |
| TRVI Trevi Therapeutics Inc. | 0.78% | 588,789 | $5.4M | Add +9.1% |
| BBOT Bridgebio Oncology Therapeut | 0.77% | 457,414 | $5.3M | New |
| ABEO Abeona Therapeutics Inc. | 0.76% | 994,754 | $5.3M | Add +8.4% |
| LXEO Lexeo Therapeutics Inc. | 0.75% | 778,611 | $5.2M | New |
| GLUE Monte Rosa Therapeutics Inc. | 0.75% | 694,942 | $5.1M | New |
| CGEN Compugen Ltd. | 0.70% | 3,311,165 | $4.9M | Add +9.1% |
| PHVS Pharvaris NV | 0.66% | 183,903 | $4.6M | New |
| CELC Celcuity Inc. | 0.63% | 88,686 | $4.4M | New |
| CERS Cerus Corp. | 0.63% | 2,715,786 | $4.3M | Add +9.1% |
| CCCC C4 Therapeutics Inc. | 0.61% | 1,897,383 | $4.2M | New |
| TELA Tela Bio Inc. | 0.60% | 2,782,923 | $4.1M | Add +0.1% |
| AARD Aardvark Therapeutics Inc. | 0.59% | 306,912 | $4.1M | Add +7.0% |
| BCAX Bicara Therapeutics Inc. | 0.57% | 250,606 | $4.0M | New |
| BNTC Benitec Biopharma Inc. | 0.56% | 276,267 | $3.9M | Add +9.1% |
| KNSA Kiniksa Pharmaceuticals Inte | 0.50% | 88,910 | $3.5M | Add +17.1% |
| CNTA Centessa Pharmaceuticals Ltd. | 0.50% | 141,238 | $3.4M | Add +2724.8% |
| EYPT Eyepoint Inc. | 0.48% | 230,837 | $3.3M | New |
| SION Sionna Therapeutics Inc. | 0.46% | 108,801 | $3.2M | Reduce -41.5% |
| ZURA Zura Bio Ltd. | 0.45% | 720,452 | $3.1M | New |
| MLYS Mineralys Therapeutics Inc. | 0.44% | 80,000 | $3.0M | Reduce -30.6% |
| ERAS Erasca Inc. | 0.43% | 1,368,075 | $3.0M | Reduce -46.8% |
| PRAX Praxis Precision Medicines I | 0.39% | 51,210 | $2.7M | Add +412.1% |
| ELUT Elutia Inc. | 0.37% | 2,850,987 | $2.5M | Add +3.2% |
| DCTH Delcath Systems Inc. | 0.32% | 203,386 | $2.2M | Add +97.4% |
| CRNX Crinetics Pharmaceuticals Inc. | 0.30% | 50,000 | $2.1M | New |
| CAMP CAMP4 Therapeutics Corp. | 0.28% | 653,594 | $2.0M | New |
| CTNM Contineum Therapeutics Inc. Class A | 0.28% | 166,161 | $2.0M | New |
| DYN Dyne Therapeutics Inc. | 0.18% | 100,000 | $1.3M | New |
| LBRX LB Pharmaceuticals Inc. | 0.16% | 70,000 | $1.1M | New |
| MRSN Mersana Therapeutics Inc. | 0.15% | 133,636 | $1.0M | Add +6.8% |
| RADX Radiopharm Theranostics Ltd. | 0.15% | 187,406 | $1.0M | No change |
| IMVT Immunovant Inc. | 0.12% | 50,000 | $806K | New |
| MODULAR MED INC | 0.06% | 639,531 | $448K | Reduce -10.0% |
| BDSX Biodesix Inc. | 0.05% | 49,607 | $375K | Reduce -7.3% |
| MBX MBX Biosciences Inc. | 0.04% | 15,000 | $263K | New |
| ELVN Enliven Therapeutics Inc. | 0.03% | 10,675 | $219K | Add +6.8% |
| MLTX Moonlake Immunotherapeutics | 0.03% | 30,000 | $215K | Reduce -63.4% |
| ARCT Arcturus Therapeutics Holdin | 0.01% | 3,445 | $63K | New |
| NKTR Nektar Therapeutics | 0.00% | 365 | $21K | Add +5.5% |
Options reported separately and not counted above: UNITED THERAPEUTICS CORP DEL puts ($25.1M), ULTRAGENYX PHARMACEUTICAL IN calls ($15.9M), COGENT BIOSCIENCES INC calls ($5.2M), CAPRICOR THERAPEUTICS INC puts ($1.0M), ATYR PHARMA INC puts ($901K), ARCTURUS THERAPEUTICS HLDGS puts ($774K), SYNDAX PHARMACEUTICALS INC calls ($770K), ULTRAGENYX PHARMACEUTICAL IN puts ($752K), MOONLAKE IMMUNOTHERAPEUTICS calls ($466K).
Other holdings (1): bonds, preferreds, convertibles and warrants · $4K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| RCKTW Rocket Pharmaceuticals in-27 | *W EXP 09/02/202 | 104,828 | $4K | No change |
Total filed on the 13F, all lines: $690.7M.
Portfolio Sells Q2 2025 → Q3 2025
| MRUS Merus NV | Sold out | 0.00% | −7.99 |
| VRNA Verona Pharma Ltd. | Sold out | 0.00% | −6.94 |
| NBIX Neurocrine Biosciences Inc. | Sold out | 0.00% | −4.19 |
| ETNB 89BIO Inc. | Sold out | 0.00% | −4.09 |
| SLNO Soleno Therapeutics Inc. | Sold out | 0.00% | −3.51 |
| AKRO Akero Therapeutics Inc. | Reduce -9.8% | 4.42% | −3.37 |
| KALV Kalvista Pharmaceuticals Inc. | Reduce -25.6% | 2.40% | −1.83 |
| PFE Pfizer Inc. | Sold out | 0.00% | −1.71 |
| ASND Ascendis Pharma A/S | Reduce -38.1% | 1.54% | −1.52 |
| BBOT Bridgebio Oncology Therapeut | Sold out | 0.00% | −1.33 |
| VCYT Veracyte Inc. | Reduce -47.4% | 1.17% | −1.31 |
| SRRK Scholar Rock Holding Corp. | Reduce -31.4% | 1.26% | −1.21 |
| MTSR Metsera Inc. | Sold out | 0.00% | −1.21 |
| URGN Urogen Pharma Ltd. | Reduce -22.0% | 4.56% | −1.12 |
| INSM Insmed Inc. | Reduce -17.0% | 4.31% | −0.82 |
| MLTX Moonlake Immunotherapeutics | Reduce -63.4% | 0.03% | −0.76 |
| GPCR Structure Therapeutics Inc. | Sold out | 0.00% | −0.75 |
| ORKA Oruka Therapeutics Inc. | Sold out | 0.00% | −0.38 |
| TRML Tourmaline Bio Inc. | Sold out | 0.00% | −0.36 |
| ERAS Erasca Inc. | Reduce -46.8% | 0.43% | −0.24 |
| SION Sionna Therapeutics Inc. | Reduce -41.5% | 0.46% | −0.20 |
| SGMT Sagimet Biosciences Inc. Class A | Sold out | 0.00% | −0.06 |
| MODULAR MED INC | Reduce -10.0% | 0.06% | −0.04 |
| BDSX Biodesix Inc. | Reduce -7.3% | 0.05% | −0.01 |
| MLYS Mineralys Therapeutics Inc. | Reduce -30.6% | 0.44% | +0.12 |
| RYTM Rhythm Pharmaceuticals Inc. | Reduce -7.7% | 5.41% | +0.23 |
| GOSS Gossamer Bio Inc. | Reduce -7.1% | 1.82% | +0.52 |
Portfolio Buys Q2 2025 → Q3 2025
| ABVX Abivax SA-ADR | New | 6.63% | +6.63 |
| DNTH Dianthus Therapeutics Inc. | Add +604.5% | 3.85% | +3.48 |
| QURE Uniqure NV | Add +124.6% | 3.85% | +3.27 |
| RNAM Avidity Biosciences Inc. | Add +106.0% | 5.33% | +2.94 |
| GUTS Fractyl Health Inc. | Add +5132.2% | 2.44% | +2.37 |
| KOD Kodiak Sciences Inc. | Add +149.0% | 2.37% | +2.06 |
| CDTX Cidara Therapeutics Inc. | Add +112.5% | 3.06% | +2.03 |
| COGT Cogent Biosciences Inc. | New | 1.69% | +1.69 |
| CYTK Cytokinetics Inc. | New | 1.68% | +1.68 |
| BIIB Biogen Inc. | New | 1.63% | +1.63 |
| AMLX Amylyx Pharmaceuticals Inc. | New | 1.38% | +1.38 |
| VSTM Verastem Inc. | New | 1.33% | +1.33 |
| AVTX Avalo Therapeutics Inc. | New | 1.33% | +1.33 |
| OLMA Olema Pharmaceuticals Inc. | New | 1.32% | +1.32 |
| NUVL Nuvalent Inc. Class A | Add +58.0% | 4.66% | +0.98 |
| RAPP Rapport Therapeutics Inc. | New | 0.88% | +0.88 |
| CGON CG Oncology Inc. | Add +18.0% | 3.72% | +0.84 |
| VRDN Viridian Therapeutics Inc. | New | 0.81% | +0.81 |
| ALKS Alkermes PLC | New | 0.78% | +0.78 |
| CMPX Compass Therapeutics Inc. | Add +126.8% | 1.44% | +0.77 |
| BBOT Bridgebio Oncology Therapeut | New | 0.77% | +0.77 |
| LXEO Lexeo Therapeutics Inc. | New | 0.75% | +0.75 |
| GLUE Monte Rosa Therapeutics Inc. | New | 0.75% | +0.75 |
| PHVS Pharvaris NV | New | 0.66% | +0.66 |
| CELC Celcuity Inc. | New | 0.63% | +0.63 |
| CCCC C4 Therapeutics Inc. | New | 0.61% | +0.61 |
| BCAX Bicara Therapeutics Inc. | New | 0.57% | +0.57 |
| CNTA Centessa Pharmaceuticals Ltd. | Add +2724.8% | 0.50% | +0.48 |
| CLDX Celldex Therapeutics Inc. | Add +75.8% | 1.31% | +0.48 |
| EYPT Eyepoint Inc. | New | 0.48% | +0.48 |
| ZURA Zura Bio Ltd. | New | 0.45% | +0.45 |
| PRAX Praxis Precision Medicines I | Add +412.1% | 0.39% | +0.31 |
| CRNX Crinetics Pharmaceuticals Inc. | New | 0.30% | +0.30 |
| CAMP CAMP4 Therapeutics Corp. | New | 0.28% | +0.28 |
| CTNM Contineum Therapeutics Inc. Class A | New | 0.28% | +0.28 |
| SNDX Syndax Pharmaceuticals Inc. | Add +15.1% | 1.03% | +0.26 |
| DYN Dyne Therapeutics Inc. | New | 0.18% | +0.18 |
| TRVI Trevi Therapeutics Inc. | Add +9.1% | 0.78% | +0.18 |
| LBRX LB Pharmaceuticals Inc. | New | 0.16% | +0.16 |
| IMVT Immunovant Inc. | New | 0.12% | +0.12 |
| KNSA Kiniksa Pharmaceuticals Inte | Add +17.1% | 0.50% | +0.07 |
| MBX MBX Biosciences Inc. | New | 0.04% | +0.04 |
| DCTH Delcath Systems Inc. | Add +97.4% | 0.32% | +0.03 |
| ARCT Arcturus Therapeutics Holdin | New | 0.01% | +0.01 |
| NKTR Nektar Therapeutics | Add +5.5% | 0.00% | +0.00 |
| ELVN Enliven Therapeutics Inc. | Add +6.8% | 0.03% | −0.01 |
| MRSN Mersana Therapeutics Inc. | Add +6.8% | 0.15% | −0.04 |
| BNTC Benitec Biopharma Inc. | Add +9.1% | 0.56% | −0.05 |
| CERS Cerus Corp. | Add +9.1% | 0.63% | −0.09 |
| AARD Aardvark Therapeutics Inc. | Add +7.0% | 0.59% | −0.20 |
Options Activity Q2 2025 → Q3 2025
| UNITED THERAPEUTICS CORP DEL | put | New | 59,900 | $25.1M |
| MERUS N V | call | Sold out | 382,500 | $20.1Mbefore exit |
| SPDR SERIES TRUST | call | Sold out | 200,000 | $16.6Mbefore exit |
| ULTRAGENYX PHARMACEUTICAL IN | call | New | 528,200 | $15.9M |
| NUVALENT INC | call | Sold out | 100,200 | $7.6Mbefore exit |
| COGENT BIOSCIENCES INC | call | New | 360,000 | $5.2M |
| COGENT COMMUNICATIONS HLDGS | call | Sold out | 500,000 | $3.6Mbefore exit |
| HIMS & HERS HEALTH INC | put | Sold out | 50,000 | $2.5Mbefore exit |
| AKERO THERAPEUTICS INC | call | Sold out | 25,000 | $1.3Mbefore exit |
| ATYR PHARMA INC | put | New | 1,250,000 | $901K |
| ARCTURUS THERAPEUTICS HLDGS | put | New | 42,000 | $774K |
| ULTRAGENYX PHARMACEUTICAL IN | put | New | 25,000 | $752K |
| MOONLAKE IMMUNOTHERAPEUTICS | call | New | 65,000 | $466K |
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 | 64 | $898.5M | ASND, CELC, COGT, URGN, IMNM |
| Q1 2026 | 66 | $848.6M | KALV, DNTH, COGT, CELC, IMNM |
| Q4 2025 | 63 | $691.1M | ABVX, COGT, URGN, KALV, CELC |
| Q3 2025 | 72 | $690.7M | ABVX, RYTM, RNAM, NUVL, URGN |
| Q2 2025 | 56 | $488.6M | MRUS, AKRO, VRNA, URGN, RYTM |
| Q1 2025 | 66 | $478.6M | VRNA, MRUS, NUVL, AKRO, INSM |
| Q4 2024 | 57 | $447.2M | NUVL, MRUS, INSM, VRNA, AKRO |
| Q3 2024 | 67 | $443.7M | NUVL, MRUS, INSM, RNAM, ERAS |
| Q2 2024 | 65 | $405.1M | MRUS, NUVL, RNAM, URGN, ERAS |
| Q1 2024 | 72 | $356.6M | MRUS, SLDB, MORF, ORIC, MERSANA THERAPEUTICS INC |