Institutional
TANG CAPITAL MANAGEMENT LLC
CIK 0001232621
$1.97B
Reported AUM
51
Positions
Q1 2026
Period
2026-05-15
Filed
The Brief · TANG CAPITAL MANAGEMENT LLC · Q1 2026
AI · grounded in 13F
TANG CAPITAL MANAGEMENT LLC closed its position in RNAGBP for a reduction of $64.9M. The fund also exited positions in VRTX and TVTX, totaling losses of $36.3M and $26.7M respectively. On the buy side, the fund established a new position in CMPS worth $22.1M and increased its holdings in CORT by 856.85%.
Portfolio · Q1 2026
Top holdings
| # | Stock | Issuer | Price | Day % | 1Y Gr. | 5Y Gr. | Value | % of book | Δ shares (QoQ) | Status |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | AUPH | AURINIA PHARMACEUTICALS INC | $15.18 | 1.47% | 44.71% | -6.76% | $181.2M | 9.20% | — | HELD |
| 2 | CELC | CELCUITY INC | $83.26 | 0.97% | 108.62% | 278.45% | $119.8M | 6.09% | — | HELD |
| 3 | MIRM | MIRUM PHARMACEUTICALS INC | $107.57 | -4.15% | 115.74% | 590.65% | $114.2M | 5.80% | — | HELD |
| 4 | LKFT | GALAPAGOS NV | $27.72 | -1.53% | -13.94% | -52.14% | $113.6M | 5.77% | — | HELD |
| 5 | SPY | STATE STR SPDR S&P 500 ETF T | $729.46 | -1.54% | 20.48% | 75.54% | $109.3M | 5.55% | — | HELD |
| 6 | KNSA | KINIKSA PHARMACEUTICALS INTL | $80.92 | 1.86% | 153.03% | 543.24% | $108.8M | 5.53% | — | HELD |
| 7 | CAPR | CAPRICOR THERAPEUTICS INC | $6.57 | 0.00% | -16.84% | 31.14% | $103.4M | 5.25% | — | HELD |
| 8 | PTCT | PTC THERAPEUTICS INC | $74.49 | -1.19% | 44.62% | 72.71% | $102.2M | 5.19% | — | HELD |
| 9 | SYRE | SPYRE THERAPEUTICS INC | $97.87 | -2.09% | 501.91% | -46.00% | $95.4M | 4.85% | — | HELD |
| 10 | KALV | KALVISTA PHARMACEUTICALS INC | — | — | — | — | $92.1M | 4.68% | — | HELD |
| 11 | CMPX | COMPASS THERAPEUTICS INC | $1.94 | -4.90% | -32.37% | -43.00% | $88.8M | 4.51% | — | HELD |
| 12 | TARS | TARSUS PHARMACEUTICALS INC | $58.52 | -0.73% | 44.45% | 122.45% | $83.4M | 4.23% | — | HELD |
| 13 | IMCR | IMMUNOCORE HLDGS PLC | $33.42 | -0.27% | 0.23% | -4.33% | $79.9M | 4.06% | — | HELD |
| 14 | ANAB | ANAPTYSBIO INC | $52.14 | 0.06% | 211.76% | 200.56% | $73.8M | 3.75% | — | HELD |
| 15 | CORT | CORCEPT THERAPEUTICS INC | $92.95 | -1.32% | 34.71% | 336.80% | $60.5M | 3.07% | — | HELD |
| 16 | ANIP | ANI PHARMACEUTICALS INC | $81.78 | 0.91% | 27.92% | 169.63% | $54.4M | 2.76% | — | HELD |
| 17 | INSM | INSMED INC | $103.12 | -0.97% | -3.85% | 272.72% | $42.5M | 2.16% | — | HELD |
| 18 | BNTX | BIONTECH SE | $92.95 | 0.54% | -12.98% | -71.25% | $41.8M | 2.12% | — | HELD |
| 19 | VRDN | VIRIDIAN THERAPEUTICS INC | $19.88 | 1.90% | 12.06% | 45.81% | $35.1M | 1.78% | — | HELD |
| 20 | AVIR | ATEA PHARMACEUTICALS INC | $4.62 | 2.44% | 33.14% | -84.45% | $25.9M | 1.32% | — | HELD |
| 21 | PGEN | PRECIGEN INC | $5.45 | -1.45% | 226.35% | -9.92% | $24.8M | 1.26% | — | HELD |
| 22 | DNTH | DIANTHUS THERAPEUTICS INC | $104.09 | 2.44% | 405.54% | 1.65% | $22.2M | 1.13% | — | HELD |
| 23 | CMPS | COMPASS PATHWAYS PLC | $10.90 | 0.46% | 151.15% | -67.85% | $22.1M | 1.12% | — | HELD |
| 24 | CBIO | CRESCENT BIOPHARMA INC. | $14.77 | -10.16% | 23.08% | -106.05% | $21.3M | 1.08% | — | HELD |
| 25 | STOK | STOKE THERAPEUTICS INC | $29.48 | 0.31% | 128.35% | 12.61% | $16.3M | 0.83% | — | HELD |
| 26 | VKTX | VIKING THERAPEUTICS INC | $33.43 | -1.27% | 2.29% | 405.75% | $16.3M | 0.83% | — | HELD |
| 27 | IDYA | IDEAYA BIOSCIENCES INC | $35.59 | -1.58% | 46.64% | 51.45% | $15.0M | 0.76% | — | HELD |
| 28 | NUVB | NUVATION BIO INC | $6.59 | -1.49% | 195.52% | -28.60% | $13.5M | 0.69% | — | HELD |
| 29 | PLRX | PLIANT THERAPEUTICS INC | $1.05 | -1.87% | -33.54% | -94.24% | $7.7M | 0.39% | — | HELD |
| 30 | DERM | JOURNEY MED CORP | $6.15 | -2.54% | -12.02% | 14.31% | $7.6M | 0.38% | — | HELD |
| 31 | JANX | JANUX THERAPEUTICS INC | $14.96 | -0.27% | — | — | $7.0M | 0.35% | — | HELD |
| 32 | BIIB | BIOGEN INC | $209.23 | 1.76% | — | — | $6.4M | 0.33% | — | HELD |
| 33 | URGN | UROGEN PHARMA LTD | $40.45 | -1.05% | — | — | $6.3M | 0.32% | — | HELD |
| 34 | ARVN | ARVINAS INC | $8.22 | 0.24% | — | — | $5.7M | 0.29% | — | HELD |
| 35 | PMVP | PMV PHARMACEUTICALS INC | $1.07 | -2.73% | — | — | $5.3M | 0.27% | — | HELD |
| 36 | MRNA | MODERNA INC | $54.49 | -2.36% | — | — | $5.1M | 0.26% | — | HELD |
| 37 | HRTX | HERON THERAPEUTICS INC | $0.49 | 0.00% | — | — | $5.0M | 0.25% | — | HELD |
| 38 | 2KZ0 | KEZAR LIFE SCIENCES INC | — | — | — | — | $4.9M | 0.25% | — | HELD |
| 39 | WVE | WAVE LIFE SCIENCES LTD | $5.81 | -1.36% | — | — | $4.3M | 0.22% | — | HELD |
| 40 | LENZ | LENZ THERAPEUTICS INC | $5.72 | -2.72% | — | — | $4.1M | 0.21% | — | HELD |
| 41 | AGIO | AGIOS PHARMACEUTICALS INC | $35.01 | -2.72% | — | — | $3.4M | 0.17% | — | HELD |
| 42 | ERAS | ERASCA INC | $17.72 | -2.42% | — | — | $3.2M | 0.16% | — | HELD |
| 43 | CHRS | COHERUS ONCOLOGY INC | $1.41 | -2.08% | — | — | $3.2M | 0.16% | — | HELD |
| 44 | NKTX | NKARTA INC | $2.13 | -4.05% | — | — | $3.1M | 0.16% | — | HELD |
| 45 | ALT | ALTIMMUNE INC | $2.92 | -2.34% | — | — | $2.1M | 0.10% | — | HELD |
| 46 | EOLS | EVOLUS INC | $6.03 | -3.05% | — | — | $2.0M | 0.10% | — | HELD |
| 47 | ABEO | ABEONA THERAPEUTICS INC | $6.23 | 3.49% | — | — | $1.8M | 0.09% | — | HELD |
| 48 | FATE | FATE THERAPEUTICS INC | $2.36 | 1.72% | — | — | $1.4M | 0.07% | — | HELD |
| 49 | NMRA | NEUMORA THERAPEUTICS INC. | $1.65 | -1.79% | — | — | $858K | 0.04% | — | HELD |
| 50 | LXRX | LEXICON PHARMACEUTICALS INC | $2.32 | -0.85% | — | — | $624K | 0.03% | — | HELD |
| 51 | RCKT | ROCKET PHARMACEUTICALS INC | $3.14 | 0.00% | — | — | $358K | 0.02% | — | HELD |
Source: SEC EDGAR · accession 0001214659-26-006493. 13F discloses long positions only — shorts, foreign equities, and options are excluded.