13F HOLDINGS REPORT
Cormorant Asset Management, LP
Quarter ended Q4 2025 · Filed February 17, 2026 · Accession 0001583977-26-000001
Total Value
$2.16B
Positions
35
Other Managers
1
Confidential Omitted
No
Holdings (35)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | PRAXIS PRECISION MEDICINES I | PRAX | 950,000 | $280.0M | 12.95% |
| 2 | BRIDGEBIO ONCOLOGY THERAPEUT | BBOT | 17,878,594 | $223.8M | 10.35% |
| 3 | ABIVAX SA | AAVXF | 1,350,000 | $182.1M | 8.42% |
| 4 | INVESCO QQQ TR | IVZ | 250,000 | $153.6M | 7.10% |
| 5 | EYEPOINT INC | EYPT | 8,265,000 | $151.0M | 6.98% |
| 6 | ISHARES TR | 464287655 | 500,000 | $123.1M | 5.69% |
| 7 | SPDR SERIES TRUST | 78464A870 | 1,000,000 | $121.9M | 5.64% |
| 8 | RAPPORT THERAPEUTICS INC | RAPP | 3,027,521 | $91.9M | 4.25% |
| 9 | BRIDGEBIO PHARMA INC | BBIO | 1,200,000 | $91.8M | 4.24% |
| 10 | BRIGHT MINDS BIOSCIENCES INC | DRUG | 1,059,331 | $82.7M | 3.82% |
| 11 | EDGEWISE THERAPEUTICS INC | EWTX | 3,285,000 | $81.5M | 3.77% |
| 12 | OLEMA PHARMACEUTICALS INC | OLMA | 2,750,000 | $68.8M | 3.18% |
| 13 | MOONLAKE IMMUNOTHERAPEUTICS | MLTX | 4,355,433 | $57.4M | 2.65% |
| 14 | INSMED INC | INSM | 275,000 | $47.9M | 2.21% |
| 15 | ENGENE HOLDINGS INC | ENGNW | 4,000,000 | $36.1M | 1.67% |
| 16 | ALUMIS INC | ALMS | 3,635,596 | $35.5M | 1.64% |
| 17 | MBX BIOSCIENCES INC | MBX | 1,120,000 | $35.3M | 1.63% |
| 18 | NEWAMSTERDAM PHARMA COMPANY | NAMSW | 1,000,000 | $35.1M | 1.62% |
| 19 | CENTESSA PHARMACEUTICALS PLC | CNTA | 1,325,000 | $33.1M | 1.53% |
| 20 | PHARVARIS N V | PHVS | 1,083,000 | $30.1M | 1.39% |
| 21 | BIOAGE LABS INC | BIOA | 2,040,605 | $27.0M | 1.25% |
| 22 | ASCENDIS PHARMA A/S | ASND | 100,000 | $21.3M | 0.99% |
| 23 | TARSUS PHARMACEUTICALS INC | TARS | 250,000 | $20.5M | 0.95% |
| 24 | CORBUS PHARMACEUTICALS HLDGS | CRBP | 2,344,971 | $19.1M | 0.88% |
| 25 | GH RESEARCH PLC | GHRS | 1,300,000 | $16.5M | 0.76% |
| 26 | ORUKA THERAPEUTICS INC | ORKA | 533,340 | $16.2M | 0.75% |
| 27 | ARCUTIS BIOTHERAPEUTICS INC | ARQT | 500,000 | $14.5M | 0.67% |
| 28 | CRINETICS PHARMACEUTICALS IN | CRNX | 300,000 | $14.0M | 0.65% |
| 29 | AXSOME THERAPEUTICS INC | AXSM | 75,000 | $13.7M | 0.63% |
| 30 | CABALETTA BIO INC | CABA | 4,400,000 | $9.6M | 0.45% |
| 31 | JANUX THERAPEUTICS INC | JANX | 650,000 | $9.0M | 0.41% |
| 32 | COGENT BIOSCIENCES INC | COGT | 225,000 | $8.0M | 0.37% |
| 33 | VAXCYTE INC | PCVX | 125,000 | $5.8M | 0.27% |
| 34 | AMYLYX PHARMACEUTICALS INC | AMLX | 400,000 | $4.8M | 0.22% |
| 35 | BIOHAVEN LTD | BHVN | 10,000 | $112,900 | 0.01% |