Vestal Point Capital, LP
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Vestal Point Capital, LP reported 67 stock positions worth $1.3 billion. Its top holding was Insmed (INSM) at 9.2% of the portfolio, followed by Jazz Pharmaceuticals (JAZZ, 7.9%) and Cytokinetics (CYTK, 6.2%). Compared with Q2 2024, it opened 23 new positions, sold out of 16, added to 22 and reduced 17. The biggest buy was Insmed (INSM, shares +113%) and the biggest sale Ascendis Pharma A/S (ASND, shares −67%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001974915
- Portfolio Value
- $1.3B (Q3 2024)
- SEC Filing
- 0001974915-24-000011 ↗ filed Nov 14, 2024
Holdings Value
Holdings 67 stocks · $1.3B
| INSM Insmed Inc. | 9.22% | 1,600,000 | $116.8M | Add +113.3% |
| JAZZ Jazz Pharmaceuticals PLC | 7.91% | 900,000 | $100.3M | Reduce -40.0% |
| CYTK Cytokinetics Inc. | 6.25% | 1,500,000 | $79.2M | Reduce -27.7% |
| NARI Inari Medical Inc. | 5.04% | 1,550,000 | $63.9M | Add +342.9% |
| ACLX Arcellx Inc. | 4.45% | 675,000 | $56.4M | No change |
| GPCR Structure Therapeutics Inc. | 3.98% | 1,150,000 | $50.5M | Add +105.4% |
| KALV Kalvista Pharmaceuticals Inc. | 3.65% | 4,000,000 | $46.3M | Add +73.9% |
| ATXS Astria Therapeutics Inc. | 3.47% | 4,000,000 | $44.0M | Add +23.1% |
| IMTX Immatics NV | 3.38% | 3,750,000 | $42.8M | Add +36.4% |
| RARE Ultragenyx Pharmaceutical Inc. | 3.29% | 750,000 | $41.7M | Reduce -58.3% |
| ASND Ascendis Pharma A/S | 2.95% | 250,000 | $37.3M | Reduce -66.7% |
| SLNO Soleno Therapeutics Inc. | 2.87% | 720,000 | $36.4M | Reduce -40.0% |
| DAWN Day One Biopharmaceuticals I | 2.75% | 2,500,000 | $34.8M | Add +100.0% |
| SVRA Savara Inc. | 2.71% | 8,090,000 | $34.3M | Add +24.6% |
| AGIO Agios Pharmaceuticals Inc. | 2.66% | 760,000 | $33.8M | New |
| XENE Xenon Pharmaceuticals Inc. | 2.56% | 825,000 | $32.5M | Add +57.1% |
| BMRN Biomarin Pharmaceutical Inc. | 2.22% | 400,000 | $28.1M | New |
| QURE Uniqure NV | 1.85% | 4,750,000 | $23.4M | No change |
| JANX Janux Therapeutics Inc. | 1.74% | 485,000 | $22.0M | Reduce -33.1% |
| BDTX Black Diamond Therapeutics I | 1.73% | 5,028,500 | $21.9M | Add +139.4% |
| SLDB Solid Biosciences Inc. | 1.54% | 2,800,000 | $19.5M | Add +5.1% |
| EW Edwards Lifesciences Corp. | 1.43% | 275,000 | $18.1M | New |
| GILD Gilead Sciences Inc. | 1.32% | 200,000 | $16.8M | New |
| LQDA Liquidia Corp. | 1.18% | 1,500,000 | $15.0M | Reduce -18.0% |
| A Agilent Technologies Inc. | 1.17% | 100,000 | $14.8M | New |
| BMY Bristol-Myers Squibb Co. | 1.02% | 250,000 | $12.9M | Reduce -50.0% |
| GSK GSK PLC-Spon ADR | 0.97% | 300,000 | $12.3M | New |
| BCAX Bicara Therapeutics Inc. | 0.85% | 425,000 | $10.8M | New |
| DNTH Dianthus Therapeutics Inc. | 0.85% | 395,000 | $10.8M | Reduce -34.2% |
| CRNX Crinetics Pharmaceuticals Inc. | 0.83% | 205,000 | $10.5M | New |
| ITOS Iteos Therapeutics Inc. | 0.83% | 1,025,000 | $10.5M | Reduce -41.4% |
| APLT Applied Therapeutics Inc. | 0.77% | 1,145,000 | $9.7M | Reduce -78.9% |
| NRIX Nurix Therapeutics Inc. | 0.75% | 425,000 | $9.5M | Reduce -15.0% |
| SNY Sanofi-ADR | 0.68% | 150,000 | $8.6M | New |
| BRKR Bruker Corp. | 0.68% | 125,000 | $8.6M | New |
| APGE Apogee Therapeutics Inc. | 0.63% | 136,500 | $8.0M | New |
| ZYME Zymeworks Inc. | 0.61% | 615,000 | $7.7M | Add +39.8% |
| LXEO Lexeo Therapeutics Inc. | 0.61% | 850,000 | $7.7M | Add +1.2% |
| TARS Tarsus Pharmaceuticals Inc. | 0.60% | 230,000 | $7.6M | New |
| ANRO Alto Neuroscience Inc. | 0.59% | 650,000 | $7.4M | Add +4.8% |
| BDX Becton Dickinson and Co. | 0.57% | 30,000 | $7.2M | New |
| MDGL Madrigal Pharmaceuticals Inc. | 0.50% | 30,000 | $6.4M | New |
| LEGN Legend Biotech Corp.-ADR | 0.48% | 125,000 | $6.1M | New |
| FATE Fate Therapeutics Inc. | 0.47% | 1,685,000 | $5.9M | Reduce -15.8% |
| LKFT Lakefront Biotherapeutic-ADR filed as GALAPAGOS NV | 0.41% | 180,000 | $5.2M | No change |
| URGN Urogen Pharma Ltd. | 0.40% | 400,000 | $5.1M | New |
| GLUE Monte Rosa Therapeutics Inc. | 0.39% | 930,000 | $4.9M | Add +4.5% |
| GERN Geron Corp. | 0.38% | 1,050,000 | $4.8M | New |
| PASG Passage Bio Inc. | 0.34% | 6,100,000 | $4.3M | Add +0.8% |
| ALLO Allogene Therapeutics Inc. | 0.33% | 1,500,000 | $4.2M | Reduce -31.8% |
| PRME Prime Medicine Inc. | 0.33% | 1,070,000 | $4.1M | Add +137.8% |
| VTYX Ventyx Biosciences Inc. | 0.30% | 1,725,000 | $3.8M | Add +31.2% |
| ZVRA Zevra Therapeutics Inc. | 0.29% | 525,000 | $3.6M | New |
| ARDX Ardelyx Inc. | 0.27% | 500,000 | $3.4M | New |
| PTCT PTC Therapeutics Inc. | 0.23% | 80,000 | $3.0M | Reduce -11.1% |
| PEN Penumbra Inc. | 0.23% | 15,000 | $2.9M | New |
| VYGR Voyager Therapeutics Inc. | 0.23% | 490,000 | $2.9M | Reduce -18.3% |
| MGNX Macrogenics Inc. | 0.22% | 830,000 | $2.7M | Add +3.8% |
| VERV Verve Therapeutics Inc. | 0.20% | 525,000 | $2.5M | Add +5.0% |
| ITCI Intra-Cellular Therapies Inc. | 0.17% | 30,000 | $2.2M | New |
| ESTA Establishment Labs Holdings | 0.14% | 40,000 | $1.7M | New |
| RLMD Relmada Therapeutics Inc. | 0.13% | 490,000 | $1.6M | Reduce -59.2% |
| ACHL Achilles Therapeutics PL-ADR | 0.12% | 1,500,000 | $1.5M | No change |
| RENEO PHARMACEUTICALS INC | 0.11% | 799,400 | $1.4M | Add +46.7% |
| CMRX Chimerix Inc. | 0.10% | 1,400,000 | $1.3M | No change |
| ATRA Atara Biotherapeutics Inc. | 0.08% | 124,677 | $1.0M | Add +11.3% |
| TENX Tenax Therapeutics Inc. | 0.02% | 83,333 | $288K | New |
Options reported separately and not counted above: AVDL puts ($26.2M), BHVN calls ($25.0M).
Portfolio Sells Q2 2024 → Q3 2024
| ASND Ascendis Pharma A/S | Reduce -66.7% | 2.95% | −4.68 |
| GMED Globus Medical Inc. Class A | Sold out | 0.00% | −4.60 |
| JAZZ Jazz Pharmaceuticals PLC | Reduce -40.0% | 7.91% | −4.03 |
| ONC Beone Medicines Ltd.-ADR | Sold out | 0.00% | −3.72 |
| EXAS Exact Sciences Corp. | Sold out | 0.00% | −2.91 |
| RARE Ultragenyx Pharmaceutical Inc. | Reduce -58.3% | 3.29% | −2.23 |
| CYTK Cytokinetics Inc. | Reduce -27.7% | 6.25% | −2.13 |
| AXSM Axsome Therapeutics Inc. | Sold out | 0.00% | −1.80 |
| ALXO Alx Oncology Holdings Inc. | Sold out | 0.00% | −1.62 |
| PRAX Praxis Precision Medicines I | Sold out | 0.00% | −1.36 |
| APLT Applied Therapeutics Inc. | Reduce -78.9% | 0.77% | −1.12 |
| ITOS Iteos Therapeutics Inc. | Reduce -41.4% | 0.83% | −1.11 |
| APLS Apellis Pharmaceuticals Inc. | Sold out | 0.00% | −0.96 |
| IMNM Immunome Inc. | Sold out | 0.00% | −0.90 |
| DNLI Denali Therapeutics Inc. | Sold out | 0.00% | −0.87 |
| SLNO Soleno Therapeutics Inc. | Reduce -40.0% | 2.87% | −0.78 |
| BNTX Biontech SE-ADR | Sold out | 0.00% | −0.60 |
| INSP Inspire Medical Systems Inc. | Sold out | 0.00% | −0.60 |
| PCRX Pacira Biosciences Inc. | Sold out | 0.00% | −0.60 |
| DYN Dyne Therapeutics Inc. | Sold out | 0.00% | −0.59 |
| FULC Fulcrum Therapeutics Inc. | Sold out | 0.00% | −0.54 |
| BMY Bristol-Myers Squibb Co. | Reduce -50.0% | 1.02% | −0.53 |
| JANX Janux Therapeutics Inc. | Reduce -33.1% | 1.74% | −0.53 |
| LQDA Liquidia Corp. | Reduce -18.0% | 1.18% | −0.45 |
| DNTH Dianthus Therapeutics Inc. | Reduce -34.2% | 0.85% | −0.30 |
| IOVA Iovance Biotherapeutics Inc. | Sold out | 0.00% | −0.18 |
| RLMD Relmada Therapeutics Inc. | Reduce -59.2% | 0.13% | −0.14 |
| VYGR Voyager Therapeutics Inc. | Reduce -18.3% | 0.23% | −0.13 |
| ALLO Allogene Therapeutics Inc. | Reduce -31.8% | 0.33% | −0.05 |
| NAMS Newamsterdam Pharma Co. NV | Sold out | 0.00% | −0.04 |
| NRIX Nurix Therapeutics Inc. | Reduce -15.0% | 0.75% | −0.02 |
| FATE Fate Therapeutics Inc. | Reduce -15.8% | 0.47% | −0.02 |
| PTCT PTC Therapeutics Inc. | Reduce -11.1% | 0.23% | +0.03 |
Portfolio Buys Q2 2024 → Q3 2024
| INSM Insmed Inc. | Add +113.3% | 9.22% | +5.47 |
| NARI Inari Medical Inc. | Add +342.9% | 5.04% | +3.79 |
| AGIO Agios Pharmaceuticals Inc. | New | 2.66% | +2.66 |
| GPCR Structure Therapeutics Inc. | Add +105.4% | 3.98% | +2.34 |
| BMRN Biomarin Pharmaceutical Inc. | New | 2.22% | +2.22 |
| KALV Kalvista Pharmaceuticals Inc. | Add +73.9% | 3.65% | +1.63 |
| DAWN Day One Biopharmaceuticals I | Add +100.0% | 2.75% | +1.46 |
| EW Edwards Lifesciences Corp. | New | 1.43% | +1.43 |
| GILD Gilead Sciences Inc. | New | 1.32% | +1.32 |
| ATXS Astria Therapeutics Inc. | Add +23.1% | 3.47% | +1.27 |
| A Agilent Technologies Inc. | New | 1.17% | +1.17 |
| XENE Xenon Pharmaceuticals Inc. | Add +57.1% | 2.56% | +1.04 |
| BDTX Black Diamond Therapeutics I | Add +139.4% | 1.73% | +1.00 |
| IMTX Immatics NV | Add +36.4% | 3.38% | +0.99 |
| GSK GSK PLC-Spon ADR | New | 0.97% | +0.97 |
| BCAX Bicara Therapeutics Inc. | New | 0.85% | +0.85 |
| CRNX Crinetics Pharmaceuticals Inc. | New | 0.83% | +0.83 |
| SVRA Savara Inc. | Add +24.6% | 2.71% | +0.76 |
| SNY Sanofi-ADR | New | 0.68% | +0.68 |
| BRKR Bruker Corp. | New | 0.68% | +0.68 |
| APGE Apogee Therapeutics Inc. | New | 0.63% | +0.63 |
| TARS Tarsus Pharmaceuticals Inc. | New | 0.60% | +0.60 |
| BDX Becton Dickinson and Co. | New | 0.57% | +0.57 |
| MDGL Madrigal Pharmaceuticals Inc. | New | 0.50% | +0.50 |
| LEGN Legend Biotech Corp.-ADR | New | 0.48% | +0.48 |
| SLDB Solid Biosciences Inc. | Add +5.1% | 1.54% | +0.41 |
| URGN Urogen Pharma Ltd. | New | 0.40% | +0.40 |
| GERN Geron Corp. | New | 0.38% | +0.38 |
| ZYME Zymeworks Inc. | Add +39.8% | 0.61% | +0.33 |
| ZVRA Zevra Therapeutics Inc. | New | 0.29% | +0.29 |
| ARDX Ardelyx Inc. | New | 0.27% | +0.27 |
| PEN Penumbra Inc. | New | 0.23% | +0.23 |
| ITCI Intra-Cellular Therapies Inc. | New | 0.17% | +0.17 |
| PRME Prime Medicine Inc. | Add +137.8% | 0.33% | +0.15 |
| GLUE Monte Rosa Therapeutics Inc. | Add +4.5% | 0.39% | +0.14 |
| ESTA Establishment Labs Holdings | New | 0.14% | +0.14 |
| ANRO Alto Neuroscience Inc. | Add +4.8% | 0.59% | +0.09 |
| VTYX Ventyx Biosciences Inc. | Add +31.2% | 0.30% | +0.07 |
| RENEO PHARMACEUTICALS INC | Add +46.7% | 0.11% | +0.05 |
| TENX Tenax Therapeutics Inc. | New | 0.02% | +0.02 |
| VERV Verve Therapeutics Inc. | Add +5.0% | 0.20% | +0.02 |
| ATRA Atara Biotherapeutics Inc. | Add +11.3% | 0.08% | +0.01 |
| PASG Passage Bio Inc. | Add +0.8% | 0.34% | −0.02 |
| MGNX Macrogenics Inc. | Add +3.8% | 0.22% | −0.04 |
| LXEO Lexeo Therapeutics Inc. | Add +1.2% | 0.61% | −0.40 |
Options Activity Q2 2024 → Q3 2024
| AVDL Avadel Pharmaceuticals Ltd. | put | New | 2,000,000 | $26.2M |
| BHVN Biohaven Ltd. | call | New | 500,000 | $25.0M |
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 | 68 | $4.3B | BMRN, NBIX, ABVX, UTHR, ELVN |
| Q1 2026 | 90 | $3.6B | RVMD, BMRN, ABVX, NBIX, ARWR |
| Q4 2025 | 75 | $2.7B | ABVX, ACLX, TERN, BMRN, GMED |
| Q3 2025 | 80 | $2.2B | ASND, ACLX, NUVL, ABVX, ALC |
| Q2 2025 | 72 | $1.9B | ACLX, JAZZ, CYTK, NUVL, VERA |
| Q1 2025 | 63 | $1.4B | ACLX, CYTK, INSM, NUVL, VERA |
| Q4 2024 | 73 | $1.7B | JAZZ, CYTK, MRK, ASND, RARE |
| Q3 2024 | 67 | $1.3B | INSM, JAZZ, CYTK, NARI, ACLX |
| Q2 2024 | 60 | $1.3B | JAZZ, CYTK, ASND, RARE, GMED |
| Q1 2024 | 58 | $1.2B | CYTK, JAZZ, NBIX, ASND, GMED |