Q1 2026 · 13F-HR
Cormorant Asset Management, LPholdings as filed
Filed 2026-05-15 · accession 0001583977-26-000002
$1.99B
Reported value
47
Positions
2026-03-31
Period end
The Brief · Cormorant Asset Management, LP · Q1 2026
AI · grounded in 13F
Cormorant Asset Management, LP exited its position in QQQ, reducing exposure by $153.6M. The fund also closed positions in IWM and XBI, totaling $123.1M and $121.9M respectively. On the buy side, the manager established new positions in ERAS for $93.8M and DNTH for $79.7M. Additionally, the fund increased its holdings in ALMS by 8.6%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 74006W207 | PRAX | PRAXIS PRECISION MEDICINES I | $285.3M | 14.3% | 885,500 | Common | SOLE |
| 107924102 | BBOT | BRIDGEBIO ONCOLOGY THERAPEUT | $160.0M | 8.04% | 17,878,594 | Common | SOLE |
| 30233G209 | EYPT | EYEPOINT INC | $106.5M | 5.35% | 8,265,000 | Common | SOLE |
| 28036F105 | EWTX | EDGEWISE THERAPEUTICS INC | $102.7M | 5.16% | 3,260,000 | Common | SOLE |
| 29479A108 | ERAS | ERASCA INC | $93.8M | 4.71% | 5,800,000 | Common | SOLE |
| 75383L102 | RAPP | RAPPORT THERAPEUTICS INC | $92.5M | 4.65% | 2,957,521 | Common | SOLE |
| 022307102 | ALMS | ALUMIS INC | $87.0M | 4.37% | 3,949,241 | Common | SOLE |
| 00370M103 | ABVX | ABIVAX SA | $84.6M | 4.25% | 760,000 | Common | SOLE |
| 61559X104 | MLTX | MOONLAKE IMMUNOTHERAPEUTICS | $83.5M | 4.19% | 4,480,433 | Common | SOLE |
| 252828108 | DNTH | DIANTHUS THERAPEUTICS INC | $79.7M | 4.00% | 950,000 | Common | SOLE |
| 10919W405 | DRUG | BRIGHT MINDS BIOSCIENCES INC | $77.3M | 3.88% | 1,059,331 | Common | SOLE |
| 10806X102 | BBIO | BRIDGEBIO PHARMA INC | $63.1M | 3.17% | 850,000 | Common | SOLE |
| 68062P106 | OLMA | OLEMA PHARMACEUTICALS INC | $58.1M | 2.92% | 3,900,000 | Common | SOLE |
| 09077V100 | BIOA | BIOAGE LABS INC | $50.6M | 2.54% | 2,890,605 | Common | SOLE |
| 152309100 | CNTA | CENTESSA PHARMACEUTICALS PLC | $41.7M | 2.09% | 1,050,000 | Common | SOLE |
| 36322Q206 | DMRA | DAMORA THERAPEUTICS INC | $39.5M | 1.98% | 1,525,000 | Common | SOLE |
| 55287L101 | MBX | MBX BIOSCIENCES INC | $33.4M | 1.68% | 1,120,000 | Common | SOLE |
| 457669307 | INSM | INSMED INC | $31.1M | 1.56% | 190,000 | Common | SOLE |
| N62509109 | NAMS | NEWAMSTERDAM PHARMA COMPANY | $30.4M | 1.53% | 950,000 | Common | SOLE |
| 87583X109 | TNGX | TANGO THERAPEUTICS INC | $29.8M | 1.50% | 1,425,000 | Common | SOLE |
| N69605108 | PHVS | PHARVARIS N V | $28.3M | 1.42% | 1,000,000 | Common | SOLE |
| 687604108 | ORKA | ORUKA THERAPEUTICS INC | $26.2M | 1.31% | 533,340 | Common | SOLE |
| 00860C102 | AGMB | AGOMAB THERAPEUTICS NV | $25.9M | 1.30% | 2,465,348 | Common | SOLE |
| 578784100 | MAZE | MAZE THERAPEUTICS INC | $22.4M | 1.12% | 750,000 | Common | SOLE |
| 21833P301 | CRBP | CORBUS PHARMACEUTICALS HLDGS | $22.0M | 1.11% | 2,344,971 | Common | SOLE |
| 04351P101 | ASNDUSD | ASCENDIS PHARMA A/S | $21.7M | 1.09% | 95,000 | Common | SOLE |
| G76279101 | ROIV | ROIVANT SCIENCES LTD | $20.8M | 1.04% | 750,000 | Common | SOLE |
| 00704R109 | ANL | ADLAI NORTYE LTD | $20.1M | 1.01% | 2,897,857 | Common | SOLE |
| 880881107 | 430 | TERNS PHARMACEUTICALS INC | $15.8M | 0.79% | 300,000 | Common | SOLE |
| 87650L103 | TARS | TARSUS PHARMACEUTICALS INC | $15.8M | 0.79% | 225,000 | Common | SOLE |
| G1110E107 | BHVN | BIOHAVEN LTD | $14.9M | 0.75% | 1,760,000 | Common | SOLE |
| 12674W109 | CABA | CABALETTA BIO INC | $14.8M | 0.74% | 5,500,000 | Common | SOLE |
| G4444S107 | HLXC | HELIX ACQUISITION CORP III | $13.2M | 0.66% | 1,297,500 | Common | SOLE |
| 03969K108 | ARQT | ARCUTIS BIOTHERAPEUTICS INC | $10.6M | 0.53% | 450,000 | Common | SOLE |
| 81728A207 | SNSE | SENSEI BIOTHERAPEUTICS INC | $9.7M | 0.48% | 306,222 | Common | SOLE |
| 22663K107 | CRNX | CRINETICS PHARMACEUTICALS IN | $9.1M | 0.46% | 250,000 | Common | SOLE |
| G9TY5A101 | ZURA | ZURA BIO LTD | $8.6M | 0.43% | 1,450,000 | Common | SOLE |
| 05464T104 | AXSM | AXSOME THERAPEUTICS INC. | $8.5M | 0.42% | 50,000 | Common | SOLE |
| 86366E106 | GPCR | STRUCTURE THERAPEUTICS INC | $8.4M | 0.42% | 175,000 | Common | SOLE |
| 19240Q201 | COGT | COGENT BIOSCIENCES INC | $7.7M | 0.39% | 200,000 | Common | SOLE |
| 68062P106 | OLMA | OLEMA PHARMACEUTICALS INC | $7.5M | 0.37% | 500,000 | CALL | SOLE |
| 61225M102 | GLUE | MONTE ROSA THERAPEUTICS INC | $6.6M | 0.33% | 400,000 | Common | SOLE |
| 04280A100 | ARWR | ARROWHEAD PHARMACEUTICALS IN | $6.3M | 0.31% | 100,000 | Common | SOLE |
| 92243G108 | PCVX | VAXCYTE INC | $5.8M | 0.29% | 100,000 | Common | SOLE |
| 03237H101 | AMLX | AMYLYX PHARMACEUTICALS INC | $4.9M | 0.24% | 350,000 | Common | SOLE |
| 75120L209 | RLYB | RALLYBIO CORP | $3.6M | 0.18% | 400,000 | Common | SOLE |
| 21077P108 | CNTX | CONTEXT THERAPEUTICS INC | $1.4M | 0.07% | 529,550 | 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.