Q4 2025 · 13F-HR
RA CAPITAL MANAGEMENT, L.P.holdings as filed
Filed 2026-02-17 · accession 0001104659-26-016482
$9.76B
Reported value
71
Positions
2025-12-31
Period end
The Brief · RA CAPITAL MANAGEMENT, L.P. · Q4 2025
AI · grounded in 13F
RA CAPITAL MANAGEMENT, L.P. closed its position in 89BIO INC ETNBGBP, reducing exposure by $292.4M. The fund established new positions in BIOCRYST PHARMACEUTICALS INC BCRX for $123.5M and PRAXIS PRECISION MEDICINES I PRAX for $110.2M. Additionally, the fund increased its stake in NUVALENT INC-A NUVL by 50.8%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 04351P101 | ASNDUSD | ASCENDIS PHARMA A/S - ADR | $2.19B | 22.5% | 10,281,496 | Common | SOLE |
| 171757206 | CDTX | CIDARA THERAPEUTICS INC | $743.4M | 7.62% | 3,365,523 | Common | SOLE |
| 76243J105 | RYTM | RHYTHM PHARMACEUTICALS INC | $713.6M | 7.31% | 6,666,837 | Common | SOLE |
| 05370A108 | RNAGBP | AVIDITY BIOSCIENCES INC | $623.3M | 6.39% | 8,641,031 | Common | SOLE |
| 92243G108 | PCVX | VAXCYTE INC | $494.8M | 5.07% | 10,724,599 | Common | SOLE |
| 829401108 | SION | SIONNA THERAPEUTICS INC | $407.5M | 4.17% | 9,905,045 | Common | SOLE |
| N62509109 | NAMS | NEWAMSTERDAM PHARMA CO NV | $335.0M | 3.43% | 9,550,191 | Common | SOLE |
| 90240B106 | TYRA | TYRA BIOSCIENCES INC | $320.7M | 3.29% | 12,198,625 | Common | SOLE |
| Y95308105 | WVE | WAVE LIFE SCIENCES LTD | $309.5M | 3.17% | 18,203,009 | Common | SOLE |
| 603170101 | MLYS | MINERALYS THERAPEUTICS INC | $265.8M | 2.72% | 7,323,750 | Common | SOLE |
| 28036F105 | EWTX | EDGEWISE THERAPEUTICS INC | $258.8M | 2.65% | 10,428,437 | Common | SOLE |
| 81734D104 | SEPN | SEPTERNA INC | $195.0M | 2.00% | 6,995,858 | Common | SOLE |
| 670703107 | NUVL | NUVALENT INC-A | $189.1M | 1.94% | 1,880,057 | Common | SOLE |
| 254604101 | IRON | DISC MEDICINE INC | $156.9M | 1.61% | 1,976,132 | Common | SOLE |
| 47103J105 | JANX | JANUX THERAPEUTICS INC | $154.4M | 1.58% | 11,189,693 | Common | SOLE |
| 713317105 | PEPG | PEPGEN INC | $130.6M | 1.34% | 20,064,545 | Common | SOLE |
| 877619106 | TSHA | TAYSHA GENE THERAPIES INC | $129.6M | 1.33% | 23,555,648 | Common | SOLE |
| 82835W108 | SPRY | ARS PHARMACEUTICALS INC | $126.5M | 1.30% | 10,860,977 | Common | SOLE |
| 09058V103 | BCRX | BIOCRYST PHARMACEUTICALS INC | $123.5M | 1.26% | 15,827,186 | Common | SOLE |
| 055477103 | BCAX | BICARA THERAPEUTICS INC | $117.1M | 1.20% | 6,955,993 | Common | SOLE |
| 74006W207 | PRAX | PRAXIS PRECISION MEDICINES I | $110.2M | 1.13% | 373,787 | Common | SOLE |
| G3855L106 | GHRS | GH RESEARCH PLC | $97.5M | 1.00% | 7,676,697 | Common | SOLE |
| 374163103 | GERN | GERON CORP | $84.2M | 0.86% | 63,771,366 | Common | SOLE |
| 03940C100 | ACLXGBX | ARCELLX INC | $82.6M | 0.85% | 1,267,156 | Common | SOLE |
| 28658R106 | CLYM | CLIMB BIO INC | $77.7M | 0.80% | 11,293,828 | Common | SOLE |
| 929033207 | VOR | VOR BIOPHARMA INC | $70.7M | 0.72% | 5,404,998 | Common | SOLE |
| 07782B104 | BLTE | BELITE BIO INC - ADR | $69.2M | 0.71% | 432,484 | Common | SOLE |
| 359616109 | FULC | FULCRUM THERAPEUTICS INC | $68.5M | 0.70% | 6,053,960 | Common | SOLE |
| 52635N103 | LENZ | LENZ THERAPEUTICS INC | $66.9M | 0.68% | 4,178,823 | Common | SOLE |
| 252828108 | DNTH | DIANTHUS THERAPEUTICS INC | $66.4M | 0.68% | 1,611,733 | Common | SOLE |
| 68062P106 | OLMA | OLEMA PHARMACEUTICALS INC | $65.0M | 0.67% | 2,600,000 | Common | SOLE |
| 30054Y107 | EVMN | EVOMMUNE INC | $59.2M | 0.61% | 3,458,770 | Common | SOLE |
| 008064206 | JBIO | JADE BIOSCIENCES INC | $56.6M | 0.58% | 3,671,083 | Common | SOLE |
| 00773J202 | SYRE | SPYRE THERAPEUTICS INC | $53.1M | 0.54% | 1,621,620 | Common | SOLE |
| 52886X107 | LXEO | LEXEO THERAPEUTICS INC | $49.6M | 0.51% | 5,000,000 | Common | SOLE |
| 50180M108 | LBRX | LB PHARMACEUTICALS INC | $49.2M | 0.50% | 2,208,604 | Common | SOLE |
| 61023L207 | MNPR | MONOPAR THERAPEUTICS INC | $43.6M | 0.45% | 667,207 | Common | SOLE |
| 14070B309 | CAPR | CAPRICOR THERAPEUTICS INC | $43.5M | 0.45% | 1,507,844 | Common | SOLE |
| 35104E100 | FDMT | 4D MOLECULAR THERAPEUTICS IN | $42.4M | 0.43% | 5,653,211 | Common | SOLE |
| 00534A102 | IVVD | INVIVYD INC | $42.3M | 0.43% | 17,119,096 | Common | SOLE |
| 04317A107 | ARTV | ARTIVA BIOTHERAPEUTICS INC | $42.3M | 0.43% | 9,853,302 | Common | SOLE |
| 384747101 | GRAL | GRAIL INC | $36.7M | 0.38% | 428,266 | Common | SOLE |
| 045396207 | ASMB | ASSEMBLY BIOSCIENCES INC | $34.7M | 0.36% | 1,020,410 | Common | SOLE |
| 83422E204 | SLDB | SOLID BIOSCIENCES INC | $32.8M | 0.34% | 5,811,423 | Common | SOLE |
| 00509G209 | ABOS | ACUMEN PHARMACEUTICALS INC | $31.5M | 0.32% | 14,932,063 | Common | SOLE |
| 08205P209 | BNTC | BENITEC BIOPHARMA INC | $24.9M | 0.26% | 1,850,000 | Common | SOLE |
| 21217B100 | CTNM | CONTINEUM THERAPEUTICS INC-A | $24.9M | 0.26% | 2,179,711 | Common | SOLE |
| 76200L309 | RZLT | REZOLUTE INC | $21.7M | 0.22% | 9,180,000 | Common | SOLE |
| 004890109 | ACRV | ACRIVON THERAPEUTICS INC | $20.1M | 0.21% | 8,340,508 | Common | SOLE |
| 65487U108 | NKTX | NKARTA INC | $20.0M | 0.20% | 10,805,129 | Common | SOLE |
| 690469101 | OVID | OVID THERAPEUTICS INC | $17.5M | 0.18% | 10,714,000 | Common | SOLE |
| 696389402 | PALI | PALISADE BIO INC | $16.7M | 0.17% | 7,124,116 | Common | SOLE |
| 78397T202 | SABS | SAB BIOTHERAPEUTICS INC | $16.5M | 0.17% | 4,401,500 | Common | SOLE |
| 12529R107 | CCCC | C4 THERAPEUTICS INC | $15.3M | 0.16% | 8,000,000 | Common | SOLE |
| 58507V107 | MDLN | MEDLINE INC-CL A | $14.1M | 0.14% | 335,000 | Common | SOLE |
| 25056L103 | DSGN | DESIGN THERAPEUTICS INC | $13.7M | 0.14% | 1,461,381 | Common | SOLE |
| 457730109 | INSP | INSPIRE MEDICAL SYSTEMS INC | $13.1M | 0.13% | 141,964 | Common | SOLE |
| 05338F306 | AVTX | AVALO THERAPEUTICS INC | $12.0M | 0.12% | 662,968 | Common | SOLE |
| 753018100 | RANI | RANI THERAPEUTICS HOLDINGS-A | $11.5M | 0.12% | 8,500,000 | Common | SOLE |
| G70077105 | PCSC | PERCEPTIVE CAPITAL SOLUTIONS | $9.8M | 0.10% | 750,000 | Common | SOLE |
| 007002207 | ACET | ADICET BIO INC | $8.0M | 0.08% | 948,249 | Common | SOLE |
| N62509117 | NAMSW | NEWAMSTERDAM PHARMA CO NV-27 | $7.7M | 0.08% | 333,333 | Common | SOLE |
| 81663L200 | WGS | GENEDX HOLDINGS CORP | $7.5M | 0.08% | 58,044 | Common | SOLE |
| 946784105 | WAY | WAYSTAR HOLDING CORP | $4.7M | 0.05% | 144,400 | Common | SOLE |
| 95075A107 | HOWL | WEREWOLF THERAPEUTICS INC | $4.2M | 0.04% | 6,681,307 | Common | SOLE |
| 433313103 | HNGE | HINGE HEALTH INC-A | $3.7M | 0.04% | 80,113 | Common | SOLE |
| 74340E103 | PGNY | PROGYNY INC | $2.5M | 0.03% | 96,628 | Common | SOLE |
| N72482206 | QGEN | QIAGEN N.V. | $2.1M | 0.02% | 43,976 | Common | SOLE |
| 68752L100 | KIDS | ORTHOPEDIATRICS CORP | $2.0M | 0.02% | 109,959 | Common | SOLE |
| 42225T107 | HCAT | HEALTH CATALYST INC | $1.9M | 0.02% | 793,749 | Common | SOLE |
| 696077601 | PTN | PALATIN TECHNOLOGIES INC | $1.1M | 0.01% | 70,000 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.