Tang Capital Management LLC

Name: TANG CAPITAL MANAGEMENT LLC 13F holdings, Q1 2024
Creator: TANG CAPITAL MANAGEMENT LLC
Published: 2024-05-15

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Tang Capital Management LLC reported 99 stock positions worth $960.4 million. Its top holding was Tarsus Pharmaceuticals (TARS) at 8.5% of the portfolio, followed by Evolus (EOLS, 6.0%) and Kalvista Pharmaceuticals (KALV, 5.1%). Compared with Q4 2023, it opened 24 new positions, sold out of 48, added to 18 and reduced 38. The biggest buy was Tarsus Pharmaceuticals (TARS, shares +2%) and the biggest sale an exit from Mirati Therapeutics (MRTX).

Most Recent 13F: Q2 2026
Location: SAN DIEGO, CA
CIK: 0001232621
Portfolio Value: $960.4M (Q1 2024)
SEC Filing: 0001214659-24-009328 ↗ filed May 15, 2024

Holdings Value

Holdings 99 stocks · $960.4M


TARS Tarsus Pharmaceuticals Inc.	8.53%	2,254,797	$82.0M	Add +2.3%
EOLS Evolus Inc.	6.05%	4,147,399	$58.1M	Add +33.9%
KALV Kalvista Pharmaceuticals Inc.	5.09%	4,125,345	$48.9M	Add +19.9%
ANAB Anaptysbio Inc.	3.12%	1,330,879	$30.0M	Reduce -31.8%
MIRM Mirum Pharmaceuticals Inc.	3.10%	1,187,107	$29.8M	Add +4.4%
ALT Altimmune Inc.	2.91%	2,750,000	$28.0M	No change
IMCR Immunocore Holdings PLC-ADR	2.75%	405,600	$26.4M	No change
INHIBRX INC	2.55%	700,000	$24.5M	New
LLY Eli Lilly & Co.	2.19%	27,000	$21.0M	Reduce -10.0%
PCVX Vaxcyte Inc.	2.13%	300,000	$20.5M	No change
PTCT PTC Therapeutics Inc.	2.12%	700,000	$20.4M	Reduce -22.2%
OTLK Outlook Therapeutics Inc.	2.01%	1,619,412	$19.3M	New
RCKT Rocket Pharmaceuticals Inc.	1.85%	660,000	$17.8M	Add +164.0%
IMNM Immunome Inc.	1.85%	720,000	$17.8M	New
AVDL Avadel Pharmaceuticals plc	1.84%	1,047,275	$17.7M	Reduce -3.0%
VTYX Ventyx Biosciences Inc.	1.78%	3,100,000	$17.1M	Add +55.0%
AVIR Atea Pharmaceuticals Inc.	1.71%	4,076,741	$16.5M	No change
ELEV Elevation Oncology Inc.	1.63%	3,060,000	$15.7M	Reduce -16.6%
APLT Applied Therapeutics Inc.	1.58%	2,230,000	$15.2M	New
ACET Adicet Bio Inc.	1.57%	6,407,400	$15.1M	Add +631.1%
MOR Morphosys AG ADR	1.51%	800,705	$14.5M	New
CTMX Cytomx Therapeutics Inc.	1.46%	6,450,000	$14.1M	Reduce -1.5%
NUVB Nuvation Bio Inc.	1.35%	3,551,864	$12.9M	Add +1.5%
GSK GSK PLC-Spon ADR	1.34%	300,000	$12.9M	No change
LENZ Lenz Therapeutics Inc.	1.27%	547,616	$12.2M	New
VRDN Viridian Therapeutics Inc.	1.26%	692,925	$12.1M	No change
ZYME Zymeworks Inc.	1.20%	1,100,000	$11.6M	No change
CRGX Cargo Therapeutics Inc.	1.08%	466,809	$10.4M	Add +190.8%
ITCI Intra-Cellular Therapies Inc.	1.08%	150,000	$10.4M	Reduce -31.8%
ANIP Ani Pharmaceuticals Inc.	1.08%	150,000	$10.4M	New
AUPH Aurinia Pharmaceuticals Inc.	1.07%	2,050,000	$10.3M	Add +272.7%
AZN Astrazeneca PLC-Spons ADR	1.06%	150,000	$10.2M	Reduce -11.8%
KNSA Kiniksa Pharmaceuticals Ltd.	1.03%	500,000	$9.9M	Reduce -16.7%
CGEM Cullinan Therapeutics Inc.	1.01%	571,138	$9.7M	Reduce -25.9%
ACAD Acadia Pharmaceuticals Inc.	1.00%	518,900	$9.6M	Add +353.6%
HRMY Harmony Biosciences Holdings	0.98%	281,200	$9.4M	Add +3.7%
DCPH Deciphera Pharmaceuticals Inc.	0.98%	600,000	$9.4M	New
NVDA Nvidia Corp.	0.94%	10,000	$9.0M	New
VKTX Viking Therapeutics Inc.	0.85%	100,000	$8.2M	New
BDTX Black Diamond Therapeutics I	0.85%	1,603,200	$8.1M	Reduce -11.1%
DTIL Precision Biosciences Inc.	0.83%	589,569	$8.0M	Add +420.2%
DNTH Dianthus Therapeutics Inc.	0.83%	264,692	$7.9M	Reduce -47.5%
CRSP Crispr Therapeutics AG	0.83%	116,500	$7.9M	Reduce -45.8%
BHVN Biohaven Ltd.	0.80%	140,000	$7.7M	No change
ARVN Arvinas Inc.	0.77%	180,000	$7.4M	Add +125.0%
IOVA Iovance Biotherapeutics Inc.	0.77%	500,000	$7.4M	Reduce -50.0%
VNDA Vanda Pharmaceuticals Inc.	0.75%	1,751,654	$7.2M	Add +605.8%
CYTK Cytokinetics Inc.	0.73%	100,000	$7.0M	Reduce -9.1%
APGE Apogee Therapeutics Inc.	0.69%	100,000	$6.6M	New
IONS Ionis Pharmaceuticals Inc.	0.68%	150,000	$6.5M	Reduce -25.0%
VSTM Verastem Inc.	0.67%	541,514	$6.4M	Reduce -27.0%
DSGN Design Therapeutics Inc.	0.62%	1,480,975	$6.0M	Add +0.0%
NKTX Nkarta Inc.	0.62%	550,000	$5.9M	No change
ONC Beone Medicines Ltd.-ADR filed as BEIGENE LTD	0.60%	37,000	$5.8M	Reduce -56.5%
NTLA Intellia Therapeutics Inc.	0.57%	200,000	$5.5M	No change
ENTA Enanta Pharmaceuticals Inc.	0.55%	300,000	$5.2M	No change
FATE Fate Therapeutics Inc.	0.54%	700,000	$5.1M	No change
HRTX Heron Therapeutics Inc.	0.53%	1,850,000	$5.1M	No change
BCAB Bioatla Inc.	0.53%	1,474,076	$5.1M	Reduce -41.6%
RENEO PHARMACEUTICALS INC	0.52%	2,997,000	$5.0M	Reduce -10.0%
META Meta Platforms Inc. Class A	0.51%	10,000	$4.9M	New
BOLT Bolt Biotherapeutics Inc.	0.50%	3,420,000	$4.8M	Reduce -6.4%
GPCR Structure Therapeutics Inc.	0.45%	100,000	$4.3M	New
BCRX Biocryst Pharmaceuticals Inc.	0.42%	800,000	$4.1M	No change
IPSC Century Therapeutics Inc.	0.39%	900,000	$3.8M	Reduce -15.6%
BLUEBIRD BIO INC	0.33%	2,500,000	$3.2M	Add +47.1%
QUINCE THERAPEUTICS INC	0.33%	2,947,652	$3.1M	Reduce -8.5%
EQC Equity Commonwealth	0.32%	165,261	$3.1M	Reduce -44.9%
LNTH Lantheus Holdings Inc.	0.32%	50,000	$3.1M	New
GMAB Genmab A/S -SP ADR	0.31%	100,000	$3.0M	New
MIND MEDICINE MINDMED INC	0.29%	300,000	$2.8M	New
KNTE Kinnate Biopharma Inc.	0.27%	977,626	$2.6M	Reduce -62.4%
ATHIRA PHARMA INC	0.24%	852,715	$2.3M	Reduce -26.0%
ADAPY Adaptimmune Therapeutics-ADR	0.24%	1,443,619	$2.3M	Reduce -67.1%
AMARIN CORP PLC	0.23%	2,500,000	$2.2M	Reduce -19.0%
LQDA Liquidia Corp.	0.23%	150,000	$2.2M	New
KURA Kura Oncology Inc.	0.22%	100,000	$2.1M	New
PASG Passage Bio Inc.	0.21%	1,500,000	$2.0M	Reduce -37.5%
FLG New York Community Bancorp	0.20%	606,600	$2.0M	Reduce -62.2%
ALGS Aligos Therapeutics Inc.	0.17%	1,650,000	$1.6M	Reduce -24.6%
ENZB Enzo Biochem Inc.	0.17%	1,260,013	$1.6M	Reduce -25.9%
TGTX TG Therapeutics Inc.	0.16%	100,000	$1.5M	No change
ATRA Atara Biotherapeutics Inc.	0.14%	1,879,923	$1.3M	New
SEER Seer Inc.	0.13%	674,125	$1.3M	New
IFRX Inflarx NV	0.12%	769,065	$1.2M	Reduce -59.0%
AVROBIO INC	0.11%	852,802	$1.1M	New
ABOS Acumen Pharmaceuticals Inc.	0.10%	246,895	$1000K	No change
RVNC Revance Therapeutics Inc.	0.10%	200,000	$984K	New
ATYR Atyr Pharma Inc.	0.10%	471,134	$919K	No change
MCRB Seres Therapeutics Inc.	0.07%	907,112	$702K	Reduce -49.4%
QURE Uniqure NV	0.07%	133,921	$696K	Reduce -77.7%
EGRX Eagle Pharmaceuticals Inc.	0.06%	118,857	$623K	No change
KEZAR LIFE SCIENCES INC	0.06%	688,943	$621K	Add +124.7%
DERM Journey Medical Corp.	0.05%	138,625	$510K	New
MOLN Molecular Partners AG -ADR	0.04%	100,000	$420K	No change
NXTC Nextcure Inc.	0.03%	144,520	$322K	Reduce -69.1%
AMLX Amylyx Pharmaceuticals Inc.	0.03%	100,000	$284K	Reduce -50.0%
ERAS Erasca Inc.	0.02%	100,000	$206K	Reduce -33.3%
RLMD Relmada Therapeutics Inc.	0.00%	382	$2K	New

Portfolio Sells Q4 2023 → Q1 2024


MRTX Mirati Therapeutics Inc.	Sold out	0.00%	−8.46
IMGN Immunogen Inc.	Sold out	0.00%	−6.02
LIANY Lianbio-ADR	Sold out	0.00%	−3.87
AXSM Axsome Therapeutics Inc.	Sold out	0.00%	−2.35
GRCL Gracell Biotechnologies-ADR	Sold out	0.00%	−2.03
RVMD Revolution Medicines Inc.	Sold out	0.00%	−1.80
FLG New York Community Bancorp	Reduce -62.2%	0.20%	−1.32
THRX Theseus Pharmaceuticals Inc.	Sold out	0.00%	−1.22
BEAM Beam Therapeutics Inc.	Sold out	0.00%	−0.88
ASND Ascendis Pharma A/S	Sold out	0.00%	−0.81
ONC Beone Medicines Ltd.-ADR	Reduce -56.5%	0.60%	−0.81
CBAY Cymabay Therapeutics Inc.	Sold out	0.00%	−0.76
ANAB Anaptysbio Inc.	Reduce -31.8%	3.12%	−0.74
MRNA Moderna Inc.	Sold out	0.00%	−0.70
GRPH Graphite Bio Inc.	Sold out	0.00%	−0.60
ADMA Adma Biologics Inc.	Sold out	0.00%	−0.57
CVBF CVB Financial Corp.	Sold out	0.00%	−0.56
ESPR Esperion Therapeutics Inc.	Sold out	0.00%	−0.51
BIO Bio-Rad Laboratories-A	Sold out	0.00%	−0.48
INSM Insmed Inc.	Sold out	0.00%	−0.48
VBTX Veritex Holdings Inc.	Sold out	0.00%	−0.45
RAIN ONCOLOGY INC	Sold out	0.00%	−0.43
BPMC Blueprint Medicines Corp.	Sold out	0.00%	−0.43
CRSP Crispr Therapeutics AG	Reduce -45.8%	0.83%	−0.42
USB US Bancorp	Sold out	0.00%	−0.40
DVAX Dynavax Technologies Corp.	Sold out	0.00%	−0.39
ITCI Intra-Cellular Therapies Inc.	Reduce -31.8%	1.08%	−0.38
SWTX Springworks Therapeutics Inc.	Sold out	0.00%	−0.34
BOH Bank of Hawaii Corp.	Sold out	0.00%	−0.33
QURE Uniqure NV	Reduce -77.7%	0.07%	−0.30
KNTE Kinnate Biopharma Inc.	Reduce -62.4%	0.27%	−0.30
KRTX Karuna Therapeutics Inc.	Sold out	0.00%	−0.29
IONS Ionis Pharmaceuticals Inc.	Reduce -25.0%	0.68%	−0.26
AMLX Amylyx Pharmaceuticals Inc.	Reduce -50.0%	0.03%	−0.24
EQC Equity Commonwealth	Reduce -44.9%	0.32%	−0.21
SPRY Ars Pharmaceuticals Inc.	Sold out	0.00%	−0.21
EDIT Editas Medicine Inc.	Sold out	0.00%	−0.19
SFBS Servisfirst Bancshares Inc.	Sold out	0.00%	−0.18
PDSB PDS Biotechnology Corp.	Sold out	0.00%	−0.18
TNGX Tango Therapeutics Inc.	Sold out	0.00%	−0.18
LITS Lite Strategy Inc.	Sold out	0.00%	−0.17
PTCT PTC Therapeutics Inc.	Reduce -22.2%	2.12%	−0.17
GNFTY Genfit-ADR	Sold out	0.00%	−0.17
ACRS Aclaris Therapeutics Inc.	Sold out	0.00%	−0.17
IFRX Inflarx NV	Reduce -59.0%	0.12%	−0.16
MCRB Seres Therapeutics Inc.	Reduce -49.4%	0.07%	−0.16
LVTX Lava Therapeutics NV	Sold out	0.00%	−0.12
NKTR Nektar Therapeutics	Sold out	0.00%	−0.12
CYTK Cytokinetics Inc.	Reduce -9.1%	0.73%	−0.12
ARE Alexandria Real Estate Equit	Sold out	0.00%	−0.12

Portfolio Buys Q4 2023 → Q1 2024


TARS Tarsus Pharmaceuticals Inc.	Add +2.3%	8.53%	+4.41
EOLS Evolus Inc.	Add +33.9%	6.05%	+3.03
INHIBRX INC	New	2.55%	+2.55
OTLK Outlook Therapeutics Inc.	New	2.01%	+2.01
IMNM Immunome Inc.	New	1.85%	+1.85
APLT Applied Therapeutics Inc.	New	1.58%	+1.58
MOR Morphosys AG ADR	New	1.51%	+1.51
ACET Adicet Bio Inc.	Add +631.1%	1.57%	+1.41
VTYX Ventyx Biosciences Inc.	Add +55.0%	1.78%	+1.32
LENZ Lenz Therapeutics Inc.	New	1.27%	+1.27
KALV Kalvista Pharmaceuticals Inc.	Add +19.9%	5.09%	+1.20
RCKT Rocket Pharmaceuticals Inc.	Add +164.0%	1.85%	+1.16
ANIP Ani Pharmaceuticals Inc.	New	1.08%	+1.08
DCPH Deciphera Pharmaceuticals Inc.	New	0.98%	+0.98
NVDA Nvidia Corp.	New	0.94%	+0.94
NUVB Nuvation Bio Inc.	Add +1.5%	1.35%	+0.86
VKTX Viking Therapeutics Inc.	New	0.85%	+0.85
CRGX Cargo Therapeutics Inc.	Add +190.8%	1.08%	+0.74
DTIL Precision Biosciences Inc.	Add +420.2%	0.83%	+0.72
APGE Apogee Therapeutics Inc.	New	0.69%	+0.69
ACAD Acadia Pharmaceuticals Inc.	Add +353.6%	1.00%	+0.67
VNDA Vanda Pharmaceuticals Inc.	Add +605.8%	0.75%	+0.65
AUPH Aurinia Pharmaceuticals Inc.	Add +272.7%	1.07%	+0.61
META Meta Platforms Inc. Class A	New	0.51%	+0.51
ARVN Arvinas Inc.	Add +125.0%	0.77%	+0.47
GPCR Structure Therapeutics Inc.	New	0.45%	+0.45
LNTH Lantheus Holdings Inc.	New	0.32%	+0.32
GMAB Genmab A/S -SP ADR	New	0.31%	+0.31
MIND MEDICINE MINDMED INC	New	0.29%	+0.29
DSGN Design Therapeutics Inc.	Add +0.0%	0.62%	+0.26
LQDA Liquidia Corp.	New	0.23%	+0.23
KURA Kura Oncology Inc.	New	0.22%	+0.22
HRMY Harmony Biosciences Holdings	Add +3.7%	0.98%	+0.17
ATRA Atara Biotherapeutics Inc.	New	0.14%	+0.14
SEER Seer Inc.	New	0.13%	+0.13
BLUEBIRD BIO INC	Add +47.1%	0.33%	+0.12
AVROBIO INC	New	0.11%	+0.11
RVNC Revance Therapeutics Inc.	New	0.10%	+0.10
DERM Journey Medical Corp.	New	0.05%	+0.05
KEZAR LIFE SCIENCES INC	Add +124.7%	0.06%	+0.04
MIRM Mirum Pharmaceuticals Inc.	Add +4.4%	3.10%	+0.00
RLMD Relmada Therapeutics Inc.	New	0.00%	+0.00

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	40	$2.2B	AUPH, SYRE, MIRM, KNSA, CELC
Q1 2026	51	$2.0B	AUPH, CELC, MIRM, LKFT, SPY
Q4 2025	75	$2.0B	AUPH, LKFT, PTCT, CELC, MIRM
Q3 2025	194	$2.6B	TARS, LKFT, AUPH, PTCT, MIRM
Q2 2025	200	$2.0B	LKFT, TARS, AUPH, IMCR, KNSA
Q1 2025	202	$1.8B	TARS, LKFT, AUPH, DVAX, EOLS
Q4 2024	183	$1.5B	TARS, AUPH, LKFT, EOLS, MIRM
Q3 2024	154	$1.4B	EOLS, TARS, AUPH, VRDN, MIRM
Q2 2024	127	$979.0M	TARS, EOLS, KALV, MIRM, ANAB
Q1 2024	99	$960.4M	TARS, EOLS, KALV, ANAB, MIRM