Institutional
Cormorant Asset Management, LP
CIK 0001583977
$1.99B
Reported AUM
46
Positions
Q1 2026
Period
2026-05-15
Filed
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%.
Portfolio · Q1 2026
Top holdings
| # | Stock | Issuer | Price | Day % | 1Y Gr. | 5Y Gr. | Value | % of book | Δ shares (QoQ) | Status |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | PRAX | PRAXIS PRECISION MEDICINES I | $307.75 | 5.75% | 453.36% | 0.42% | $285.3M | 14.33% | — | HELD |
| 2 | BBOT | BRIDGEBIO ONCOLOGY THERAPEUT | $8.50 | 3.22% | -19.45% | -19.18% | $160.0M | 8.04% | — | HELD |
| 3 | EYPT | EYEPOINT INC | $12.86 | 7.89% | 22.76% | 8.96% | $106.5M | 5.35% | — | HELD |
| 4 | EWTX | EDGEWISE THERAPEUTICS INC | $41.12 | 3.45% | 177.78% | 150.95% | $102.7M | 5.16% | — | HELD |
| 5 | ERAS | ERASCA INC | $18.68 | 5.42% | 1243.88% | -21.87% | $93.8M | 4.71% | — | HELD |
| 6 | RAPP | RAPPORT THERAPEUTICS INC | $42.78 | 4.49% | 202.33% | 88.29% | $92.5M | 4.65% | — | HELD |
| 7 | ALMS | ALUMIS INC | $28.95 | 9.74% | 563.92% | 122.93% | $87.0M | 4.37% | — | HELD |
| 8 | ABVX | ABIVAX SA | $124.33 | 4.62% | 65.18% | 1070.84% | $84.6M | 4.25% | — | HELD |
| 9 | MLTX | MOONLAKE IMMUNOTHERAPEUTICS | $18.99 | 3.32% | -64.74% | 88.87% | $83.5M | 4.19% | — | HELD |
| 10 | DNTH | DIANTHUS THERAPEUTICS INC | $112.64 | 8.21% | 447.06% | 10.00% | $79.7M | 4.00% | — | HELD |
| 11 | DRUG | BRIGHT MINDS BIOSCIENCES INC | $74.63 | 5.02% | 120.61% | 179.65% | $77.3M | 3.88% | — | HELD |
| 12 | OLMA | OLEMA PHARMACEUTICALS INC | $11.82 | 5.63% | 108.82% | -62.80% | $65.6M | 3.29% | — | HELD |
| 13 | BBIO | BRIDGEBIO PHARMA INC | $82.14 | -1.68% | 72.55% | 63.11% | $63.1M | 3.17% | — | HELD |
| 14 | BIOA | BIOAGE LABS INC | $24.85 | 11.99% | 466.02% | -1.19% | $50.6M | 2.54% | — | HELD |
| 15 | CNTA | CENTESSA PHARMACEUTICALS PLC | — | — | 0.00% | — | $41.7M | 2.09% | — | HELD |
| 16 | DMRA | DAMORA THERAPEUTICS INC | $29.21 | 3.11% | 811.39% | -73.74% | $39.5M | 1.98% | — | HELD |
| 17 | MBX | MBX BIOSCIENCES INC | $66.46 | 3.91% | 378.44% | 187.27% | $33.4M | 1.68% | — | HELD |
| 18 | INSM | INSMED INC | $101.49 | -1.58% | -7.34% | 259.18% | $31.1M | 1.56% | — | HELD |
| 19 | NAMS | NEWAMSTERDAM PHARMA COMPANY | $28.46 | 1.97% | 33.74% | 194.62% | $30.4M | 1.53% | — | HELD |
| 20 | TNGX | TANGO THERAPEUTICS INC | $27.57 | 6.65% | 299.69% | 124.23% | $29.8M | 1.50% | — | HELD |
| 21 | PHVS | PHARVARIS N V | $33.88 | 3.86% | 67.35% | 65.78% | $28.3M | 1.42% | — | HELD |
| 22 | ORKA | ORUKA THERAPEUTICS INC | $97.86 | 11.12% | 619.56% | 390.71% | $26.2M | 1.31% | — | HELD |
| 23 | AGMB | AGOMAB THERAPEUTICS NV | $12.76 | 2.90% | -12.94% | 21.59% | $25.9M | 1.30% | — | HELD |
| 24 | MAZE | MAZE THERAPEUTICS INC | $27.63 | 1.32% | 85.44% | 125.92% | $22.4M | 1.12% | — | HELD |
| 25 | CRBP | CORBUS PHARMACEUTICALS HLDGS | $9.05 | 1.46% | -2.79% | -76.61% | $22.0M | 1.11% | — | HELD |
| 26 | ASNDUSD | ASCENDIS PHARMA A/S | — | — | — | — | $21.7M | 1.09% | — | HELD |
| 27 | ROIV | ROIVANT SCIENCES LTD | $34.52 | 5.02% | 202.21% | 243.52% | $20.8M | 1.04% | — | HELD |
| 28 | ANL | ADLAI NORTYE LTD | $13.00 | 7.35% | 796.55% | 61.49% | $20.1M | 1.01% | — | HELD |
| 29 | 430 | TERNS PHARMACEUTICALS INC | — | — | — | — | $15.8M | 0.79% | — | HELD |
| 30 | TARS | TARSUS PHARMACEUTICALS INC | $59.54 | 1.74% | 43.71% | 121.32% | $15.8M | 0.79% | — | HELD |
| 31 | BHVN | BIOHAVEN LTD | $13.82 | 2.90% | — | — | $14.9M | 0.75% | — | HELD |
| 32 | CABA | CABALETTA BIO INC | $2.72 | 3.82% | — | — | $14.8M | 0.74% | — | HELD |
| 33 | HLXC | HELIX ACQUISITION CORP III | $10.51 | 0.00% | — | — | $13.2M | 0.66% | — | HELD |
| 34 | ARQT | ARCUTIS BIOTHERAPEUTICS INC | $27.99 | 0.47% | — | — | $10.6M | 0.53% | — | HELD |
| 35 | SNSE | SENSEI BIOTHERAPEUTICS INC | — | — | — | — | $9.7M | 0.48% | — | HELD |
| 36 | CRNX | CRINETICS PHARMACEUTICALS IN | $83.63 | -0.30% | — | — | $9.1M | 0.46% | — | HELD |
| 37 | ZURA | ZURA BIO LTD | $5.54 | 4.33% | — | — | $8.6M | 0.43% | — | HELD |
| 38 | AXSM | AXSOME THERAPEUTICS INC. | $234.64 | 3.17% | — | — | $8.5M | 0.42% | — | HELD |
| 39 | GPCR | STRUCTURE THERAPEUTICS INC | $49.47 | 4.48% | — | — | $8.4M | 0.42% | — | HELD |
| 40 | COGT | COGENT BIOSCIENCES INC | $41.36 | 4.52% | — | — | $7.7M | 0.39% | — | HELD |
| 41 | GLUE | MONTE ROSA THERAPEUTICS INC | $22.68 | 5.19% | — | — | $6.6M | 0.33% | — | HELD |
| 42 | ARWR | ARROWHEAD PHARMACEUTICALS IN | $87.32 | 1.28% | — | — | $6.3M | 0.31% | — | HELD |
| 43 | PCVX | VAXCYTE INC | $55.96 | 5.62% | — | — | $5.8M | 0.29% | — | HELD |
| 44 | AMLX | AMYLYX PHARMACEUTICALS INC | $20.75 | 5.17% | — | — | $4.9M | 0.24% | — | HELD |
| 45 | RLYB | RALLYBIO CORP | $16.07 | 0.69% | — | — | $3.6M | 0.18% | — | HELD |
| 46 | CNTX | CONTEXT THERAPEUTICS INC | $0.61 | -1.62% | — | — | $1.4M | 0.07% | — | HELD |
Source: SEC EDGAR · accession 0001583977-26-000002. 13F discloses long positions only — shorts, foreign equities, and options are excluded.