Vestal Point Capital, LP
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Vestal Point Capital, LP reported 72 stock positions worth $1.9 billion. Its top holding was Arcellx (ACLX) at 9.5% of the portfolio, followed by Jazz Pharmaceuticals (JAZZ, 6.7%) and Cytokinetics (CYTK, 5.2%). Compared with Q1 2025, it opened 22 new positions, sold out of 13, added to 26 and reduced 12. The biggest buy was a new position in Jazz Pharmaceuticals (JAZZ) and the biggest sale an exit from Insmed (INSM).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001974915
- Portfolio Value
- $1.9B (Q2 2025)
- SEC Filing
- 0001974915-25-000006 ↗ filed Aug 14, 2025
Holdings Value
Holdings 72 stocks · $1.9B
| ACLX Arcellx Inc. | 9.53% | 2,750,000 | $181.1M | Add +15.2% |
| JAZZ Jazz Pharmaceuticals PLC | 6.70% | 1,200,000 | $127.3M | New |
| CYTK Cytokinetics Inc. | 5.18% | 2,975,000 | $98.3M | Add +14.8% |
| NUVL Nuvalent Inc. Class A | 4.32% | 1,075,000 | $82.0M | No change |
| VERA Vera Therapeutics Inc. | 3.85% | 3,100,000 | $73.0M | Add +24.0% |
| FOLD Amicus Therapeutics Inc. | 3.59% | 11,900,000 | $68.2M | Add +178.4% |
| XENE Xenon Pharmaceuticals Inc. | 3.30% | 2,000,000 | $62.6M | Add +53.9% |
| DNTH Dianthus Therapeutics Inc. | 3.14% | 3,200,000 | $59.6M | Add +88.2% |
| SRRK Scholar Rock Holding Corp. | 2.80% | 1,500,000 | $53.1M | Add +15.4% |
| KALV Kalvista Pharmaceuticals Inc. | 2.78% | 4,675,000 | $52.9M | Reduce -1.6% |
| GEHC GE Healthcare Technology | 2.73% | 700,000 | $51.8M | Add +242.9% |
| QURE Uniqure NV | 2.72% | 3,700,000 | $51.6M | Reduce -22.8% |
| BCAX Bicara Therapeutics Inc. | 2.45% | 5,000,000 | $46.5M | Add +80.6% |
| ALC Alcon Inc. filed as ALCON AG | 2.44% | 525,000 | $46.3M | New |
| RVMD Revolution Medicines Inc. | 2.32% | 1,200,000 | $44.1M | New |
| CRNX Crinetics Pharmaceuticals Inc. | 2.27% | 1,500,000 | $43.1M | No change |
| EXAS Exact Sciences Corp. | 1.96% | 700,000 | $37.2M | New |
| CLDX Celldex Therapeutics Inc. | 1.88% | 1,750,000 | $35.6M | Add +781.0% |
| ASND Ascendis Pharma A/S | 1.82% | 200,000 | $34.5M | Add +33.2% |
| IMTX Immatics NV | 1.77% | 6,250,000 | $33.6M | Reduce -13.1% |
| GERN Geron Corp. | 1.76% | 23,775,000 | $33.5M | Add +8.0% |
| GMED Globus Medical Inc. Class A | 1.55% | 500,000 | $29.5M | Add +150.0% |
| BMRN Biomarin Pharmaceutical Inc. | 1.45% | 500,000 | $27.5M | New |
| MLTX Moonlake Immunotherapeutics | 1.37% | 550,000 | $26.0M | Add +175.0% |
| TYRA Tyra Biosciences Inc. | 1.34% | 2,655,000 | $25.4M | Reduce -7.8% |
| SVRA Savara Inc. | 1.32% | 11,015,000 | $25.1M | Add +0.1% |
| COO The Cooper Cos Inc. | 1.31% | 350,000 | $24.9M | New |
| GPCR Structure Therapeutics Inc. | 1.31% | 1,200,000 | $24.9M | Reduce -32.9% |
| CDTX Cidara Therapeutics Inc. | 1.28% | 500,000 | $24.4M | Reduce -0.9% |
| ATXS Astria Therapeutics Inc. | 1.28% | 4,522,000 | $24.2M | Add +8.2% |
| ABT Abbott Laboratories | 1.25% | 175,000 | $23.8M | New |
| EW Edwards Lifesciences Corp. | 1.24% | 300,000 | $23.5M | New |
| NRIX Nurix Therapeutics Inc. | 1.20% | 2,000,000 | $22.8M | Add +77.7% |
| COGT Cogent Biosciences Inc. | 1.16% | 3,080,000 | $22.1M | Add +2.7% |
| BRKR Bruker Corp. | 1.08% | 500,000 | $20.6M | Add +66.7% |
| IONS Ionis Pharmaceuticals Inc. | 1.04% | 500,000 | $19.8M | New |
| DAWN Day One Biopharmaceuticals I | 1.03% | 3,000,000 | $19.5M | Add +15.5% |
| MDT Medtronic PLC | 0.89% | 195,000 | $17.0M | New |
| PRGO Perrigo Co. PLC | 0.88% | 625,000 | $16.7M | Add +6.4% |
| ZYME Zymeworks Inc. | 0.76% | 1,150,000 | $14.4M | Add +130.0% |
| BDTX Black Diamond Therapeutics I | 0.73% | 5,600,000 | $13.9M | No change |
| LXEO Lexeo Therapeutics Inc. | 0.68% | 3,228,161 | $13.0M | Add +184.1% |
| NYXH Nyxoah SA | 0.55% | 1,402,002 | $10.5M | Reduce -39.5% |
| TMO Thermo Fisher Scientific Inc. | 0.53% | 25,000 | $10.1M | New |
| DHR Danaher Corp. | 0.52% | 50,000 | $9.9M | Reduce -60.0% |
| BBNX Beta Bionics Inc. | 0.42% | 550,000 | $8.0M | New |
| IRON Disc Medicine Inc. | 0.39% | 140,000 | $7.4M | New |
| SLDB Solid Biosciences Inc. | 0.39% | 1,505,000 | $7.3M | Reduce -14.2% |
| TSHA Taysha Gene Therapies Inc. | 0.36% | 3,000,000 | $6.9M | New |
| DYN Dyne Therapeutics Inc. | 0.36% | 727,500 | $6.9M | Reduce -59.6% |
| TVTX Travere Therapeutics Inc. | 0.28% | 355,000 | $5.3M | New |
| ELVN Enliven Therapeutics Inc. | 0.26% | 250,000 | $5.0M | New |
| VYGR Voyager Therapeutics Inc. | 0.24% | 1,475,000 | $4.6M | Add +18.1% |
| ZBH Zimmer Biomet Holdings Inc. | 0.24% | 50,000 | $4.6M | New |
| BDX Becton Dickinson and Co. | 0.23% | 25,000 | $4.3M | New |
| VTYX Ventyx Biosciences Inc. | 0.23% | 2,000,000 | $4.3M | No change |
| LNTH Lantheus Holdings Inc. | 0.22% | 50,000 | $4.1M | New |
| NBIX Neurocrine Biosciences Inc. | 0.20% | 30,000 | $3.8M | New |
| APLT Applied Therapeutics Inc. | 0.19% | 11,500,000 | $3.6M | No change |
| FATE Fate Therapeutics Inc. | 0.15% | 2,515,000 | $2.8M | Reduce -0.0% |
| PASG Passage Bio Inc. | 0.13% | 6,100,000 | $2.4M | No change |
| ANRO Alto Neuroscience Inc. | 0.11% | 950,000 | $2.1M | Add +3.8% |
| STRO Sutro Biopharma Inc. Com SHS | 0.10% | 2,600,000 | $1.9M | No change |
| OKUR Onkure Therapeutics Inc. Class A | 0.08% | 635,000 | $1.5M | No change |
| VRDN Viridian Therapeutics Inc. | 0.07% | 100,000 | $1.4M | New |
| ALEC Alector Inc. | 0.07% | 976,992 | $1.4M | Add +93.6% |
| ENGN Engene Holdings Inc. | 0.07% | 370,000 | $1.3M | No change |
| ARQT Arcutis Biotherapeutics Inc. | 0.07% | 95,000 | $1.3M | New |
| ATRA Atara Biotherapeutics Inc. | 0.04% | 94,085 | $726K | No change |
| MGNX Macrogenics Inc. | 0.02% | 280,000 | $339K | No change |
| TENX Tenax Therapeutics Inc. | 0.02% | 53,439 | $308K | No change |
| TRAW Traws Pharma Inc. | 0.01% | 149,800 | $222K | Reduce -14.4% |
Portfolio Sells Q1 2025 → Q2 2025
| INSM Insmed Inc. | Sold out | 0.00% | −5.86 |
| URGN Urogen Pharma Ltd. | Sold out | 0.00% | −1.70 |
| DHR Danaher Corp. | Reduce -60.0% | 0.52% | −1.31 |
| LQDA Liquidia Corp. | Sold out | 0.00% | −1.29 |
| RARE Ultragenyx Pharmaceutical Inc. | Sold out | 0.00% | −1.29 |
| ESTA Establishment Labs Holdings | Sold out | 0.00% | −1.26 |
| VRNA Verona Pharma Ltd. | Sold out | 0.00% | −1.21 |
| KALV Kalvista Pharmaceuticals Inc. | Reduce -1.6% | 2.78% | −1.13 |
| DYN Dyne Therapeutics Inc. | Reduce -59.6% | 0.36% | −0.98 |
| QURE Uniqure NV | Reduce -22.8% | 2.72% | −0.91 |
| SRPT Sarepta Therapeutics Inc. | Sold out | 0.00% | −0.91 |
| GPCR Structure Therapeutics Inc. | Reduce -32.9% | 1.31% | −0.90 |
| NYXH Nyxoah SA | Reduce -39.5% | 0.55% | −0.60 |
| TYRA Tyra Biosciences Inc. | Reduce -7.8% | 1.34% | −0.57 |
| IMTX Immatics NV | Reduce -13.1% | 1.77% | −0.55 |
| IMVT Immunovant Inc. | Sold out | 0.00% | −0.43 |
| ITOS Iteos Therapeutics Inc. | Sold out | 0.00% | −0.38 |
| LKFT Lakefront Biotherapeutic-ADR | Sold out | 0.00% | −0.36 |
| KNSA Kiniksa Pharmaceuticals Inte | Sold out | 0.00% | −0.27 |
| ARCT Arcturus Therapeutics Holdin | Sold out | 0.00% | −0.16 |
| SLDB Solid Biosciences Inc. | Reduce -14.2% | 0.39% | −0.08 |
| TRAW Traws Pharma Inc. | Reduce -14.4% | 0.01% | −0.02 |
| CNTA Centessa Pharmaceuticals Ltd. | Sold out | 0.00% | −0.02 |
| FATE Fate Therapeutics Inc. | Reduce -0.0% | 0.15% | +0.01 |
| CDTX Cidara Therapeutics Inc. | Reduce -0.9% | 1.28% | +0.51 |
Portfolio Buys Q1 2025 → Q2 2025
| JAZZ Jazz Pharmaceuticals PLC | New | 6.70% | +6.70 |
| ALC Alcon Inc. | New | 2.44% | +2.44 |
| RVMD Revolution Medicines Inc. | New | 2.32% | +2.32 |
| EXAS Exact Sciences Corp. | New | 1.96% | +1.96 |
| CLDX Celldex Therapeutics Inc. | Add +781.0% | 1.88% | +1.62 |
| GEHC GE Healthcare Technology | Add +242.9% | 2.73% | +1.55 |
| BMRN Biomarin Pharmaceutical Inc. | New | 1.45% | +1.45 |
| COO The Cooper Cos Inc. | New | 1.31% | +1.31 |
| ABT Abbott Laboratories | New | 1.25% | +1.25 |
| EW Edwards Lifesciences Corp. | New | 1.24% | +1.24 |
| FOLD Amicus Therapeutics Inc. | Add +178.4% | 3.59% | +1.10 |
| IONS Ionis Pharmaceuticals Inc. | New | 1.04% | +1.04 |
| DNTH Dianthus Therapeutics Inc. | Add +88.2% | 3.14% | +0.94 |
| MDT Medtronic PLC | New | 0.89% | +0.89 |
| MLTX Moonlake Immunotherapeutics | Add +175.0% | 1.37% | +0.81 |
| TMO Thermo Fisher Scientific Inc. | New | 0.53% | +0.53 |
| GMED Globus Medical Inc. Class A | Add +150.0% | 1.55% | +0.51 |
| BBNX Beta Bionics Inc. | New | 0.42% | +0.42 |
| LXEO Lexeo Therapeutics Inc. | Add +184.1% | 0.68% | +0.40 |
| IRON Disc Medicine Inc. | New | 0.39% | +0.39 |
| TSHA Taysha Gene Therapies Inc. | New | 0.36% | +0.36 |
| ZYME Zymeworks Inc. | Add +130.0% | 0.76% | +0.33 |
| TVTX Travere Therapeutics Inc. | New | 0.28% | +0.28 |
| ELVN Enliven Therapeutics Inc. | New | 0.26% | +0.26 |
| NRIX Nurix Therapeutics Inc. | Add +77.7% | 1.20% | +0.24 |
| ZBH Zimmer Biomet Holdings Inc. | New | 0.24% | +0.24 |
| BDX Becton Dickinson and Co. | New | 0.23% | +0.23 |
| LNTH Lantheus Holdings Inc. | New | 0.22% | +0.22 |
| NBIX Neurocrine Biosciences Inc. | New | 0.20% | +0.20 |
| BRKR Bruker Corp. | Add +66.7% | 1.08% | +0.19 |
| XENE Xenon Pharmaceuticals Inc. | Add +53.9% | 3.30% | +0.18 |
| ASND Ascendis Pharma A/S | Add +33.2% | 1.82% | +0.15 |
| VRDN Viridian Therapeutics Inc. | New | 0.07% | +0.07 |
| ARQT Arcutis Biotherapeutics Inc. | New | 0.07% | +0.07 |
| ALEC Alector Inc. | Add +93.6% | 0.07% | +0.03 |
| ANRO Alto Neuroscience Inc. | Add +3.8% | 0.11% | −0.03 |
| VYGR Voyager Therapeutics Inc. | Add +18.1% | 0.24% | −0.06 |
| COGT Cogent Biosciences Inc. | Add +2.7% | 1.16% | −0.12 |
| BCAX Bicara Therapeutics Inc. | Add +80.6% | 2.45% | −0.13 |
| SRRK Scholar Rock Holding Corp. | Add +15.4% | 2.80% | −0.19 |
| PRGO Perrigo Co. PLC | Add +6.4% | 0.88% | −0.30 |
| ATXS Astria Therapeutics Inc. | Add +8.2% | 1.28% | −0.32 |
| VERA Vera Therapeutics Inc. | Add +24.0% | 3.85% | −0.44 |
| DAWN Day One Biopharmaceuticals I | Add +15.5% | 1.03% | −0.44 |
| GERN Geron Corp. | Add +8.0% | 1.76% | −0.73 |
| SVRA Savara Inc. | Add +0.1% | 1.32% | −0.85 |
| ACLX Arcellx Inc. | Add +15.2% | 9.53% | −1.65 |
| CYTK Cytokinetics Inc. | Add +14.8% | 5.18% | −2.26 |
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 |