Q2 2025 · 13F-HR
Cormorant Asset Management, LPholdings as filed
Filed 2025-08-14 · accession 0001583977-25-000007
$1.34B
Reported value
42
Positions
2025-06-30
Period end
The Brief · Cormorant Asset Management, LP · Q2 2025
AI · grounded in 13F
Cormorant Asset Management, LP established a new position in Moonlake Immunotherapeutics MLTX valued at $400.9M. The fund also initiated new stakes in Eyepoint Pharmaceuticals Inc EYPT for $78.3M and BridgeBio Pharma Inc BBIO for $69.1M. Additional new positions include Praxis Precision Medicines I PRAX and Merus N V 2GH. The fund ended the period with 42 positions and total AUM of $1.34B.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 61559X104 | MLTX | MOONLAKE IMMUNOTHERAPEUTICS | $400.9M | 29.9% | 8,494,151 | Common | SOLE |
| 30233G209 | EYPT | EYEPOINT PHARMACEUTICALS INC | $78.3M | 5.84% | 8,325,000 | Common | SOLE |
| 10806X102 | BBIO | BRIDGEBIO PHARMA INC | $69.1M | 5.15% | 1,600,000 | Common | SOLE |
| 74006W207 | PRAX | PRAXIS PRECISION MEDICINES I | $68.3M | 5.09% | 1,625,000 | Common | SOLE |
| N5749R100 | 2GH | MERUS N V | $58.9M | 4.39% | 1,120,000 | Common | SOLE |
| 28036F105 | EWTX | EDGEWISE THERAPEUTICS INC | $55.7M | 4.15% | 4,251,992 | Common | SOLE |
| 457669307 | INSM | INSMED INC | $54.3M | 4.05% | 540,000 | Common | SOLE |
| 03940C100 | ACLXGBX | ARCELLX INC | $52.7M | 3.92% | 800,000 | Common | SOLE |
| N62509109 | NAMS | NEWAMSTERDAM PHARMA COMPANY | $39.4M | 2.93% | 2,175,000 | Common | SOLE |
| 47103J105 | JANX | JANUX THERAPEUTICS INC | $34.6M | 2.58% | 1,500,000 | Common | SOLE |
| 75383L102 | RAPP | RAPPORT THERAPEUTICS INC | $33.4M | 2.49% | 2,940,921 | Common | SOLE |
| 925050106 | VRNA | VERONA PHARMA PLC | $33.1M | 2.47% | 350,000 | Common | SOLE |
| G4444H101 | BBOT | HELIX ACQUISITION CORP II | $30.9M | 2.30% | 2,909,000 | Common | SOLE |
| 10919W405 | DRUG | BRIGHT MINDS BIOSCIENCES INC | $27.7M | 2.06% | 1,059,331 | Common | SOLE |
| 152309100 | CNTA | CENTESSA PHARMACEUTICALS PLC | $27.4M | 2.04% | 2,086,600 | Common | SOLE |
| N69605108 | PHVS | PHARVARIS N V | $25.6M | 1.91% | 1,454,660 | Common | SOLE |
| G3855L106 | GHRS | GH RESEARCH PLC | $24.5M | 1.82% | 2,009,482 | Common | SOLE |
| 82835W108 | SPRY | ARS PHARMACEUTICALS INC | $19.2M | 1.43% | 1,100,000 | Common | SOLE |
| 21833P301 | CRBP | CORBUS PHARMACEUTICALS HLDGS | $16.4M | 1.22% | 2,375,000 | Common | SOLE |
| 00370M103 | ABVX | ABIVAX SA | $16.3M | 1.21% | 2,130,000 | Common | SOLE |
| 156944100 | CGON | CG ONCOLOGY INC | $16.3M | 1.21% | 625,000 | Common | SOLE |
| 03969K108 | ARQT | ARCUTIS BIOTHERAPEUTICS INC | $14.0M | 1.04% | 1,000,000 | Common | SOLE |
| 14179K101 | CRGX | CARGO THERAPEUTICS INC | $13.9M | 1.04% | 3,381,277 | Common | SOLE |
| 87650L103 | TARS | TARSUS PHARMACEUTICALS INC | $12.2M | 0.91% | 300,000 | Common | SOLE |
| 22663K107 | CRNX | CRINETICS PHARMACEUTICALS IN | $11.5M | 0.86% | 400,000 | Common | SOLE |
| 59267L107 | — | METSERA INC | $11.4M | 0.85% | 400,000 | Common | SOLE |
| 002942100 | AARD | AARDVARK THERAPEUTICS INC | $10.8M | 0.81% | 800,189 | Common | SOLE |
| 05464T104 | AXSM | AXSOME THERAPEUTICS INC | $10.4M | 0.78% | 100,000 | Common | SOLE |
| 09077V100 | BIOA | BIOAGE LABS INC | $8.8M | 0.66% | 2,140,605 | Common | SOLE |
| 29286M105 | — | ENGENE HOLDINGS INC | $8.5M | 0.63% | 2,323,595 | Common | SOLE |
| 55287L101 | MBX | MBX BIOSCIENCES INC | $8.0M | 0.59% | 700,000 | Common | SOLE |
| 12674W109 | CABA | CABALETTA BIO INC | $7.6M | 0.57% | 5,000,000 | Common | SOLE |
| 022307102 | ALMS | ALUMIS INC | $6.4M | 0.48% | 2,147,396 | Common | SOLE |
| 09077A106 | BMEA | BIOMEA FUSION INC | $6.4M | 0.48% | 3,570,872 | Common | SOLE |
| 500946108 | KRRO | KORRO BIO INC | $5.8M | 0.43% | 465,000 | Common | SOLE |
| 92243G108 | PCVX | VAXCYTE INC | $5.7M | 0.42% | 175,000 | Common | SOLE |
| 05370A108 | RNAGBP | AVIDITY BIOSCIENCES INC | $5.7M | 0.42% | 200,000 | Common | SOLE |
| 29337E102 | ELVN | ENLIVEN THERAPEUTICS INC | $4.0M | 0.30% | 200,000 | Common | SOLE |
| 86150R107 | STOK | STOKE THERAPEUTICS INC | $2.9M | 0.21% | 254,161 | Common | SOLE |
| 483119202 | KALAEUR | KALA BIO INC | $2.9M | 0.21% | 603,027 | Common | SOLE |
| 92941V308 | VYNE | VYNE THERAPEUTICS INC | $2.3M | 0.17% | 1,370,938 | Common | SOLE |
| G1110E107 | BHVN | BIOHAVEN LTD | $141,100 | 0.01% | 10,000 | 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.