13F HOLDINGS REPORT
RA CAPITAL MANAGEMENT, L.P.
Quarter ended Q4 2025 · Filed February 17, 2026 · Accession 0001104659-26-016482
Total Value
$9.76B
Positions
72
Other Managers
0
Confidential Omitted
No
Holdings (72)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | ASCENDIS PHARMA A/S - ADR | ASND | 10,281,496 | $2.19B | 22.46% |
| 2 | CIDARA THERAPEUTICS INC | 171757206 | 3,365,523 | $743.4M | 7.62% |
| 3 | RHYTHM PHARMACEUTICALS INC | RYTM | 6,666,837 | $713.6M | 7.31% |
| 4 | AVIDITY BIOSCIENCES INC | 05370A108 | 8,641,031 | $623.3M | 6.39% |
| 5 | VAXCYTE INC | PCVX | 10,724,599 | $494.8M | 5.07% |
| 6 | SIONNA THERAPEUTICS INC | SION | 9,905,045 | $407.5M | 4.17% |
| 7 | NEWAMSTERDAM PHARMA CO NV | NAMSW | 9,550,191 | $335.0M | 3.43% |
| 8 | TYRA BIOSCIENCES INC | TYRA | 12,198,625 | $320.7M | 3.29% |
| 9 | WAVE LIFE SCIENCES LTD | WVE | 18,203,009 | $309.5M | 3.17% |
| 10 | MINERALYS THERAPEUTICS INC | MLYS | 7,323,750 | $265.8M | 2.72% |
| 11 | EDGEWISE THERAPEUTICS INC | EWTX | 10,428,437 | $258.8M | 2.65% |
| 12 | SEPTERNA INC | SEPN | 6,995,858 | $195.0M | 2.00% |
| 13 | NUVALENT INC-A | NUVL | 1,880,057 | $189.1M | 1.94% |
| 14 | DISC MEDICINE INC | IRON | 1,976,132 | $156.9M | 1.61% |
| 15 | JANUX THERAPEUTICS INC | JANX | 11,189,693 | $154.4M | 1.58% |
| 16 | PEPGEN INC | PEPG | 20,064,545 | $130.6M | 1.34% |
| 17 | TAYSHA GENE THERAPIES INC | TSHA | 23,555,648 | $129.6M | 1.33% |
| 18 | ARS PHARMACEUTICALS INC | SPRY | 10,860,977 | $126.5M | 1.30% |
| 19 | BIOCRYST PHARMACEUTICALS INC | BCRX | 15,827,186 | $123.5M | 1.26% |
| 20 | BICARA THERAPEUTICS INC | BCAX | 6,955,993 | $117.1M | 1.20% |
| 21 | PRAXIS PRECISION MEDICINES I | PRAX | 373,787 | $110.2M | 1.13% |
| 22 | GH RESEARCH PLC | GHRS | 7,676,697 | $97.5M | 1.00% |
| 23 | GERON CORP | GERN | 63,771,366 | $84.2M | 0.86% |
| 24 | ARCELLX INC | ACLX | 1,267,156 | $82.6M | 0.85% |
| 25 | VOR BIOPHARMA INC | VOR | 5,404,998 | $70.7M | 0.72% |
| 26 | BELITE BIO INC - ADR | BLTE | 432,484 | $69.2M | 0.71% |
| 27 | FULCRUM THERAPEUTICS INC | FULC | 6,053,960 | $68.5M | 0.70% |
| 28 | LENZ THERAPEUTICS INC | LENZ | 4,178,823 | $66.9M | 0.68% |
| 29 | DIANTHUS THERAPEUTICS INC | DNTH | 1,611,733 | $66.4M | 0.68% |
| 30 | OLEMA PHARMACEUTICALS INC | OLMA | 2,600,000 | $65.0M | 0.67% |
| 31 | EVOMMUNE INC | EVMN | 3,458,770 | $59.2M | 0.61% |
| 32 | JADE BIOSCIENCES INC | JBIO | 3,671,083 | $56.6M | 0.58% |
| 33 | SPYRE THERAPEUTICS INC | SYRE | 1,621,620 | $53.1M | 0.54% |
| 34 | LEXEO THERAPEUTICS INC | LXEO | 5,000,000 | $49.6M | 0.51% |
| 35 | LB PHARMACEUTICALS INC | LBRX | 2,208,604 | $49.2M | 0.50% |
| 36 | MONOPAR THERAPEUTICS INC | MNPR | 667,207 | $43.6M | 0.45% |
| 37 | CAPRICOR THERAPEUTICS INC | CAPR | 1,507,844 | $43.5M | 0.45% |
| 38 | CLIMB BIO INC | CLYM | 2,479,872 | $42.5M | 0.43% |
| 39 | 4D MOLECULAR THERAPEUTICS IN | FDMT | 5,653,211 | $42.4M | 0.43% |
| 40 | INVIVYD INC | IVVD | 17,119,096 | $42.3M | 0.43% |
| 41 | ARTIVA BIOTHERAPEUTICS INC | ARTV | 9,853,302 | $42.3M | 0.43% |
| 42 | GRAIL INC | GRAL | 428,266 | $36.7M | 0.38% |
| 43 | CLIMB BIO INC | CLYM | 8,813,956 | $35.3M | 0.36% |
| 44 | ASSEMBLY BIOSCIENCES INC | ASMB | 1,020,410 | $34.7M | 0.36% |
| 45 | SOLID BIOSCIENCES INC | SLDB | 5,811,423 | $32.8M | 0.34% |
| 46 | ACUMEN PHARMACEUTICALS INC | ABOS | 14,932,063 | $31.5M | 0.32% |
| 47 | BENITEC BIOPHARMA INC | BNTC | 1,850,000 | $24.9M | 0.26% |
| 48 | CONTINEUM THERAPEUTICS INC-A | CTNM | 2,179,711 | $24.9M | 0.26% |
| 49 | REZOLUTE INC | RZLT | 9,180,000 | $21.7M | 0.22% |
| 50 | ACRIVON THERAPEUTICS INC | ACRV | 8,340,508 | $20.1M | 0.21% |
| 51 | NKARTA INC | NKTX | 10,805,129 | $20.0M | 0.20% |
| 52 | OVID THERAPEUTICS INC | OVID | 10,714,000 | $17.5M | 0.18% |
| 53 | PALISADE BIO INC | PALI | 7,124,116 | $16.7M | 0.17% |
| 54 | SAB BIOTHERAPEUTICS INC | SABSW | 4,401,500 | $16.5M | 0.17% |
| 55 | C4 THERAPEUTICS INC | CCCC | 8,000,000 | $15.3M | 0.16% |
| 56 | MEDLINE INC-CL A | MDLN | 335,000 | $14.1M | 0.14% |
| 57 | DESIGN THERAPEUTICS INC | DSGN | 1,461,381 | $13.7M | 0.14% |
| 58 | INSPIRE MEDICAL SYSTEMS INC | 457730109 | 141,964 | $13.1M | 0.13% |
| 59 | AVALO THERAPEUTICS INC | AVTX | 662,968 | $12.0M | 0.12% |
| 60 | RANI THERAPEUTICS HOLDINGS-A | RANI | 8,500,000 | $11.5M | 0.12% |
| 61 | PERCEPTIVE CAPITAL SOLUTIONS | G70077105 | 750,000 | $9.8M | 0.10% |
| 62 | ADICET BIO INC | ACET | 948,249 | $8.0M | 0.08% |
| 63 | NEWAMSTERDAM PHARMA CO NV-27 | NAMSW | 333,333 | $7.7M | 0.08% |
| 64 | GENEDX HOLDINGS CORP | WGSWW | 58,044 | $7.5M | 0.08% |
| 65 | WAYSTAR HOLDING CORP | WAY | 144,400 | $4.7M | 0.05% |
| 66 | WEREWOLF THERAPEUTICS INC | HOWL | 6,681,307 | $4.2M | 0.04% |
| 67 | HINGE HEALTH INC-A | HNGE | 80,113 | $3.7M | 0.04% |
| 68 | PROGYNY INC | PGNY | 96,628 | $2.5M | 0.03% |
| 69 | QIAGEN N.V. | QGEN | 43,976 | $2.1M | 0.02% |
| 70 | ORTHOPEDIATRICS CORP | KIDS | 109,959 | $2.0M | 0.02% |
| 71 | HEALTH CATALYST INC | HCAT | 793,749 | $1.9M | 0.02% |
| 72 | PALATIN TECHNOLOGIES INC | PTN | 70,000 | $1.1M | 0.01% |