Vestal Point Capital, LP
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Vestal Point Capital, LP reported 63 stock positions worth $1.4 billion. Its top holding was Arcellx (ACLX) at 11.2% of the portfolio, followed by Cytokinetics (CYTK, 7.4%) and Insmed (INSM, 5.9%). Compared with Q4 2024, it opened 13 new positions, sold out of 23, added to 27 and reduced 13. The biggest buy was Arcellx (ACLX, shares +403%) and the biggest sale an exit from Jazz Pharmaceuticals (JAZZ).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001974915
- Portfolio Value
- $1.4B (Q1 2025)
- SEC Filing
- 0001974915-25-000005 ↗ filed May 15, 2025
Holdings Value
Holdings 63 stocks · $1.4B
| ACLX Arcellx Inc. | 11.19% | 2,387,720 | $156.6M | Add +402.7% |
| CYTK Cytokinetics Inc. | 7.43% | 2,590,531 | $104.1M | Add +10.2% |
| INSM Insmed Inc. | 5.86% | 1,075,000 | $82.0M | Add +19.4% |
| NUVL Nuvalent Inc. Class A | 5.44% | 1,075,000 | $76.2M | Add +79.2% |
| VERA Vera Therapeutics Inc. | 4.29% | 2,500,000 | $60.0M | Add +132.6% |
| KALV Kalvista Pharmaceuticals Inc. | 3.92% | 4,751,292 | $54.8M | Reduce -0.4% |
| QURE Uniqure NV | 3.63% | 4,792,572 | $50.8M | Add +58.4% |
| CRNX Crinetics Pharmaceuticals Inc. | 3.59% | 1,500,000 | $50.3M | New |
| XENE Xenon Pharmaceuticals Inc. | 3.11% | 1,300,000 | $43.6M | Add +60.5% |
| SRRK Scholar Rock Holding Corp. | 2.98% | 1,300,000 | $41.8M | New |
| BCAX Bicara Therapeutics Inc. | 2.58% | 2,768,975 | $36.1M | Add +290.0% |
| GERN Geron Corp. | 2.50% | 22,005,340 | $35.0M | Add +100.0% |
| FOLD Amicus Therapeutics Inc. | 2.49% | 4,275,000 | $34.9M | Add +27.6% |
| IMTX Immatics NV | 2.32% | 7,192,700 | $32.4M | Add +14.6% |
| GPCR Structure Therapeutics Inc. | 2.21% | 1,788,990 | $31.0M | Add +3.7% |
| DNTH Dianthus Therapeutics Inc. | 2.20% | 1,700,069 | $30.8M | Add +58.1% |
| SVRA Savara Inc. | 2.18% | 11,000,000 | $30.5M | Add +2.1% |
| TYRA Tyra Biosciences Inc. | 1.91% | 2,879,829 | $26.8M | Add +190.9% |
| DHR Danaher Corp. | 1.83% | 125,000 | $25.6M | New |
| URGN Urogen Pharma Ltd. | 1.70% | 2,152,957 | $23.8M | Add +32.1% |
| ASND Ascendis Pharma A/S | 1.67% | 150,142 | $23.4M | Reduce -71.1% |
| ATXS Astria Therapeutics Inc. | 1.59% | 4,180,000 | $22.3M | No change |
| DAWN Day One Biopharmaceuticals I | 1.47% | 2,598,127 | $20.6M | Add +80.4% |
| DYN Dyne Therapeutics Inc. | 1.34% | 1,800,000 | $18.8M | New |
| RARE Ultragenyx Pharmaceutical Inc. | 1.29% | 500,000 | $18.1M | Reduce -66.7% |
| LQDA Liquidia Corp. | 1.29% | 1,227,403 | $18.1M | Reduce -30.3% |
| COGT Cogent Biosciences Inc. | 1.28% | 3,000,000 | $18.0M | New |
| ESTA Establishment Labs Holdings | 1.26% | 433,193 | $17.7M | Add +44.4% |
| VRNA Verona Pharma Ltd. | 1.21% | 267,627 | $17.0M | Reduce -45.9% |
| PRGO Perrigo Co. PLC | 1.18% | 587,649 | $16.5M | Add +56.7% |
| GEHC GE Healthcare Technology | 1.18% | 204,130 | $16.5M | New |
| NYXH Nyxoah SA | 1.16% | 2,318,954 | $16.2M | Reduce -20.7% |
| GMED Globus Medical Inc. Class A | 1.05% | 200,000 | $14.6M | Reduce -38.5% |
| NRIX Nurix Therapeutics Inc. | 0.95% | 1,125,552 | $13.4M | Add +132.1% |
| SRPT Sarepta Therapeutics Inc. | 0.91% | 200,000 | $12.8M | Reduce -20.0% |
| BRKR Bruker Corp. | 0.89% | 300,000 | $12.5M | New |
| CDTX Cidara Therapeutics Inc. | 0.78% | 504,542 | $10.9M | New |
| BDTX Black Diamond Therapeutics I | 0.62% | 5,600,000 | $8.7M | No change |
| MLTX Moonlake Immunotherapeutics | 0.56% | 200,000 | $7.8M | New |
| SLDB Solid Biosciences Inc. | 0.46% | 1,753,558 | $6.5M | Reduce -38.5% |
| IMVT Immunovant Inc. | 0.43% | 350,000 | $6.0M | Add +677.8% |
| ZYME Zymeworks Inc. | 0.43% | 500,000 | $6.0M | Add +170.3% |
| APLT Applied Therapeutics Inc. | 0.40% | 11,500,000 | $5.6M | No change |
| ITOS Iteos Therapeutics Inc. | 0.38% | 900,000 | $5.4M | No change |
| LKFT Lakefront Biotherapeutic-ADR filed as GALAPAGOS NV | 0.36% | 200,000 | $5.0M | Add +11.1% |
| VYGR Voyager Therapeutics Inc. | 0.30% | 1,249,418 | $4.2M | Add +1.6% |
| LXEO Lexeo Therapeutics Inc. | 0.28% | 1,136,249 | $3.9M | Reduce -5.3% |
| KNSA Kiniksa Pharmaceuticals Inte | 0.27% | 169,864 | $3.8M | New |
| CLDX Celldex Therapeutics Inc. | 0.26% | 198,646 | $3.6M | Reduce -34.9% |
| OKUR Onkure Therapeutics Inc. Class A | 0.20% | 635,000 | $2.7M | No change |
| VTYX Ventyx Biosciences Inc. | 0.16% | 2,000,000 | $2.3M | No change |
| ARCT Arcturus Therapeutics Holdin | 0.16% | 211,790 | $2.2M | New |
| PASG Passage Bio Inc. | 0.15% | 6,100,000 | $2.2M | No change |
| FATE Fate Therapeutics Inc. | 0.14% | 2,515,850 | $2.0M | Add +2.1% |
| ANRO Alto Neuroscience Inc. | 0.14% | 915,000 | $2.0M | No change |
| STRO Sutro Biopharma Inc. Com SHS | 0.12% | 2,600,000 | $1.7M | Add +1.2% |
| ENGN Engene Holdings Inc. | 0.12% | 370,000 | $1.7M | No change |
| ALEC Alector Inc. | 0.04% | 504,540 | $621K | New |
| ATRA Atara Biotherapeutics Inc. | 0.04% | 94,085 | $559K | Reduce -24.7% |
| TRAW Traws Pharma Inc. | 0.03% | 175,000 | $403K | Add +133.3% |
| MGNX Macrogenics Inc. | 0.03% | 280,000 | $356K | No change |
| TENX Tenax Therapeutics Inc. | 0.03% | 53,439 | $350K | Reduce -3.2% |
| CNTA Centessa Pharmaceuticals Ltd. | 0.02% | 14,888 | $214K | New |
Portfolio Sells Q4 2024 → Q1 2025
| JAZZ Jazz Pharmaceuticals PLC | Sold out | 0.00% | −7.12 |
| MRK Merck & Co. Inc. | Sold out | 0.00% | −4.72 |
| BMRN Biomarin Pharmaceutical Inc. | Sold out | 0.00% | −3.35 |
| SLNO Soleno Therapeutics Inc. | Sold out | 0.00% | −2.82 |
| ASND Ascendis Pharma A/S | Reduce -71.1% | 1.67% | −2.57 |
| RARE Ultragenyx Pharmaceutical Inc. | Reduce -66.7% | 1.29% | −2.45 |
| SNY Sanofi-ADR | Sold out | 0.00% | −2.14 |
| GSK GSK PLC-Spon ADR | Sold out | 0.00% | −2.01 |
| AZN Astrazeneca PLC-Spons ADR | Sold out | 0.00% | −1.85 |
| MDGL Madrigal Pharmaceuticals Inc. | Sold out | 0.00% | −1.74 |
| IONS Ionis Pharmaceuticals Inc. | Sold out | 0.00% | −1.23 |
| LEGN Legend Biotech Corp.-ADR | Sold out | 0.00% | −0.92 |
| SRPT Sarepta Therapeutics Inc. | Reduce -20.0% | 0.91% | −0.89 |
| ROIV Roivant Sciences Ltd. | Sold out | 0.00% | −0.88 |
| REGN Regeneron Pharmaceuticals | Sold out | 0.00% | −0.84 |
| A Agilent Technologies Inc. | Sold out | 0.00% | −0.60 |
| GMED Globus Medical Inc. Class A | Reduce -38.5% | 1.05% | −0.55 |
| ZLAB Zai Lab Ltd.-ADR | Sold out | 0.00% | −0.47 |
| NTLA Intellia Therapeutics Inc. | Sold out | 0.00% | −0.36 |
| CMRX Chimerix Inc. | Sold out | 0.00% | −0.29 |
| NYXH Nyxoah SA | Reduce -20.7% | 1.16% | −0.23 |
| VERV Verve Therapeutics Inc. | Sold out | 0.00% | −0.22 |
| SLDB Solid Biosciences Inc. | Reduce -38.5% | 0.46% | −0.21 |
| CLDX Celldex Therapeutics Inc. | Reduce -34.9% | 0.26% | −0.20 |
| ALLO Allogene Therapeutics Inc. | Sold out | 0.00% | −0.19 |
| LXEO Lexeo Therapeutics Inc. | Reduce -5.3% | 0.28% | −0.19 |
| TMDX Transmedics Group Inc. | Sold out | 0.00% | −0.18 |
| GLUE Monte Rosa Therapeutics Inc. | Sold out | 0.00% | −0.17 |
| VRNA Verona Pharma Ltd. | Reduce -45.9% | 1.21% | −0.15 |
| BHC Bausch Health Cos Inc. | Sold out | 0.00% | −0.12 |
| NGNE Neurogene Inc. | Sold out | 0.00% | −0.11 |
| ACHL Achilles Therapeutics PL-ADR | Sold out | 0.00% | −0.10 |
| ATRA Atara Biotherapeutics Inc. | Reduce -24.7% | 0.04% | −0.06 |
| TENX Tenax Therapeutics Inc. | Reduce -3.2% | 0.03% | +0.00 |
| LQDA Liquidia Corp. | Reduce -30.3% | 1.29% | +0.07 |
| KALV Kalvista Pharmaceuticals Inc. | Reduce -0.4% | 3.92% | +1.52 |
Portfolio Buys Q4 2024 → Q1 2025
| ACLX Arcellx Inc. | Add +402.7% | 11.19% | +9.03 |
| CRNX Crinetics Pharmaceuticals Inc. | New | 3.59% | +3.59 |
| SRRK Scholar Rock Holding Corp. | New | 2.98% | +2.98 |
| NUVL Nuvalent Inc. Class A | Add +79.2% | 5.44% | +2.66 |
| INSM Insmed Inc. | Add +19.4% | 5.86% | +2.17 |
| BCAX Bicara Therapeutics Inc. | Add +290.0% | 2.58% | +1.84 |
| DHR Danaher Corp. | New | 1.83% | +1.83 |
| VERA Vera Therapeutics Inc. | Add +132.6% | 4.29% | +1.59 |
| DYN Dyne Therapeutics Inc. | New | 1.34% | +1.34 |
| COGT Cogent Biosciences Inc. | New | 1.28% | +1.28 |
| XENE Xenon Pharmaceuticals Inc. | Add +60.5% | 3.11% | +1.23 |
| GEHC GE Healthcare Technology | New | 1.18% | +1.18 |
| TYRA Tyra Biosciences Inc. | Add +190.9% | 1.91% | +1.10 |
| BRKR Bruker Corp. | New | 0.89% | +0.89 |
| CYTK Cytokinetics Inc. | Add +10.2% | 7.43% | +0.88 |
| DNTH Dianthus Therapeutics Inc. | Add +58.1% | 2.20% | +0.81 |
| CDTX Cidara Therapeutics Inc. | New | 0.78% | +0.78 |
| URGN Urogen Pharma Ltd. | Add +32.1% | 1.70% | +0.67 |
| FOLD Amicus Therapeutics Inc. | Add +27.6% | 2.49% | +0.62 |
| PRGO Perrigo Co. PLC | Add +56.7% | 1.18% | +0.61 |
| MLTX Moonlake Immunotherapeutics | New | 0.56% | +0.56 |
| QURE Uniqure NV | Add +58.4% | 3.63% | +0.46 |
| ESTA Establishment Labs Holdings | Add +44.4% | 1.26% | +0.44 |
| NRIX Nurix Therapeutics Inc. | Add +132.1% | 0.95% | +0.41 |
| DAWN Day One Biopharmaceuticals I | Add +80.4% | 1.47% | +0.39 |
| IMVT Immunovant Inc. | Add +677.8% | 0.43% | +0.36 |
| KNSA Kiniksa Pharmaceuticals Inte | New | 0.27% | +0.27 |
| ZYME Zymeworks Inc. | Add +170.3% | 0.43% | +0.26 |
| SVRA Savara Inc. | Add +2.1% | 2.18% | +0.21 |
| GERN Geron Corp. | Add +100.0% | 2.50% | +0.19 |
| ARCT Arcturus Therapeutics Holdin | New | 0.16% | +0.16 |
| LKFT Lakefront Biotherapeutic-ADR | Add +11.1% | 0.36% | +0.07 |
| ALEC Alector Inc. | New | 0.04% | +0.04 |
| CNTA Centessa Pharmaceuticals Ltd. | New | 0.02% | +0.02 |
| TRAW Traws Pharma Inc. | Add +133.3% | 0.03% | −0.01 |
| FATE Fate Therapeutics Inc. | Add +2.1% | 0.14% | −0.10 |
| VYGR Voyager Therapeutics Inc. | Add +1.6% | 0.30% | −0.11 |
| STRO Sutro Biopharma Inc. Com SHS | Add +1.2% | 0.12% | −0.16 |
| IMTX Immatics NV | Add +14.6% | 2.32% | −0.33 |
| GPCR Structure Therapeutics Inc. | Add +3.7% | 2.21% | −0.56 |
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 |