2026 Q1 Portfolio Activity
In 2026 Q1, Cormorant Asset Management, LP maintained a portfolio of 53 distinct positions. The most significant new addition was ERASCA INC, now representing 4.71% of the total fund value. They heavily accumulated shares in ALUMIS INC, increasing the position by 8.6%. Conversely, Cormorant Asset Management, LP completely exited their position in INVESCO QQQ TR.
Position History
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Total Positions
53
Quarter
2026 Q1
Top Holding
PRAX (14.3%)
Top 10 Concentration
59.1%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 53
Cormorant Asset Management, LP Full Holdings List — 2026 Q1
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
PRAX
PRAXIS PRECISIO...
|
Healthcare | 14.33% | 12.95% |
#1
Prev: #1
|
6.5 |
—
|
-64,500 | -6.8% |
P
S
|
885,500 | $285,299,245 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
BBOT
BRIDGEBIO ONCOL...
|
Healthcare | 8.04% | 10.35% |
#2
Prev: #2
|
5.7 |
—
|
no change | no change |
P
S
|
17,878,594 | $160,013,416 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
EYPT
EYEPOINT INC
|
Healthcare | 5.35% | 6.98% |
#3
2
Prev: #5
|
4.1 |
—
|
no change | no change |
P
S
|
8,265,000 | $106,535,850 | 2023 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
EWTX
EDGEWISE THERAP...
|
Healthcare | 5.16% | 3.77% |
#4
7
Prev: #11
|
3.1 |
—
|
-25,000 | -0.8% |
P
S
|
3,260,000 | $102,690,000 | 2021 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ERAS
ERASCA INC
|
Healthcare | 4.71% | — |
#5
Prev: #—
|
5.9 |
—
|
5,800,000 | — |
NEW
|
5,800,000 | $93,844,000 | 2021 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
RAPP
RAPPORT THERAPE...
|
Healthcare | 4.65% | 4.25% |
#6
2
Prev: #8
|
2.4 |
—
|
-70,000 | -2.3% |
P
S
|
2,957,521 | $92,540,832 | 2024 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ALMS
ALUMIS INC
|
Healthcare | 4.37% | 1.64% |
#7
9
Prev: #16
|
3.7 |
—
|
313,645 | 8.6% |
P
S
|
3,949,241 | $87,001,779 | 2024 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ABVX
ABIVAX SA
|
Healthcare | 4.25% | 8.42% |
#8
5
Prev: #3
|
1.7 |
—
|
-590,000 | -43.7% |
P
S
|
760,000 | $84,626,000 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
MLTX
MOONLAKE IMMUNO...
|
Healthcare | 4.19% | 2.65% |
#9
4
Prev: #13
|
2.2 |
—
|
125,000 | 2.9% |
P
S
|
4,480,433 | $83,515,271 | 2022 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
DNTH
DIANTHUS THERAP...
|
Healthcare | 4.00% | — |
#10
Prev: #—
|
5.1 |
—
|
950,000 | — |
NEW
|
950,000 | $79,724,000 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
DRUG
BRIGHT MINDS BI...
|
Healthcare | 3.88% | 3.82% |
#11
1
Prev: #10
|
2.6 |
—
|
no change | no change |
P
S
|
1,059,331 | $77,299,383 | 2024 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
BBIO
BRIDGEBIO PHARM...
|
Healthcare | 3.17% | 4.24% |
#12
3
Prev: #9
|
1.3 |
—
|
-350,000 | -29.2% |
P
S
|
850,000 | $63,121,000 | 2019 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
OLMA
OLEMA PHARMACEU...
|
Healthcare | 2.92% | 3.18% |
#13
1
Prev: #12
|
3.7 |
—
|
1,150,000 | 41.8% |
P
S
|
3,900,000 | $58,149,000 | 2020 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
BIOA
BIOAGE LABS INC
|
Healthcare | 2.54% | 1.25% |
#14
7
Prev: #21
|
3.5 |
—
|
850,000 | 41.7% |
P
S
|
2,890,605 | $50,556,681 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
CNTA
CENTESSA PHARMA...
|
Healthcare | 2.09% | 1.53% |
#15
4
Prev: #19
|
0.8 |
—
|
-275,000 | -20.8% |
P
S
|
1,050,000 | $41,706,000 | 2021 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
GLTO
DAMORA THERAPEU...
|
Healthcare | 1.98% | — |
#16
Prev: #—
|
4.3 |
—
|
1,525,000 | — |
NEW
|
1,525,000 | $39,497,500 | 2020 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
MBX
MBX BIOSCIENCES...
|
Healthcare | 1.68% | 1.63% |
#17
Prev: #17
|
1.7 |
—
|
no change | no change |
P
S
|
1,120,000 | $33,432,000 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
INSM
INSMED INC
|
Healthcare | 1.56% | 2.21% |
#18
4
Prev: #14
|
0.6 |
—
|
-85,000 | -30.9% |
P
S
|
190,000 | $31,068,800 | 2020 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
NAMS
NEWAMSTERDAM PH...
|
Healthcare | 1.53% | 1.62% |
#19
1
Prev: #18
|
1.1 |
—
|
-50,000 | -5.0% |
P
S
|
950,000 | $30,409,500 | 2024 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
TNGX
TANGO THERAPEUT...
|
Healthcare | 1.50% | — |
#20
Prev: #—
|
4.1 |
—
|
1,425,000 | — |
NEW
|
1,425,000 | $29,811,000 | 2021 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
PHVS
PHARVARIS N V
|
Healthcare | 1.42% | 1.39% |
#21
1
Prev: #20
|
1.1 |
—
|
-83,000 | -7.7% |
P
S
|
1,000,000 | $28,250,000 | 2021 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ORKA
ORUKA THERAPEUT...
|
Healthcare | 1.31% | 0.75% |
#22
4
Prev: #26
|
1.5 |
—
|
no change | no change |
P
S
|
533,340 | $26,160,327 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
N/A
AGOMAB THERAPEU...
|
|
Unknown | 1.30% | — |
#23
Prev: #—
|
4.0 |
—
|
2,465,348 | — |
NEW
|
2,465,348 | $25,861,501 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
MAZE
MAZE THERAPEUTI...
|
Healthcare | 1.12% | — |
#24
Prev: #—
|
3.9 |
—
|
750,000 | — |
NEW
|
750,000 | $22,387,500 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
CRBP
CORBUS PHARMACE...
|
Healthcare | 1.11% | 0.88% |
#25
1
Prev: #24
|
1.4 |
—
|
no change | no change |
P
S
|
2,344,971 | $22,019,278 | 2016 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ASND
ASCENDIS PHARMA...
|
Healthcare | 1.09% | 0.99% |
#26
4
Prev: #22
|
0.9 |
—
|
-5,000 | -5.0% |
P
S
|
95,000 | $21,729,350 | 2015 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ROIV
ROIVANT SCIENCE...
|
Healthcare | 1.04% | — |
#27
Prev: #—
|
3.9 |
—
|
750,000 | — |
NEW
|
750,000 | $20,775,000 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ANL
ADLAI NORTYE LT...
|
Healthcare | 1.01% | — |
#28
Prev: #—
|
3.9 |
—
|
2,897,857 | — |
NEW
|
2,897,857 | $20,053,170 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
TERN
TERNS PHARMACEU...
|
Healthcare | 0.79% | — |
#29
Prev: #—
|
3.8 |
—
|
300,000 | — |
NEW
|
300,000 | $15,816,000 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
TARS
TARSUS PHARMACE...
|
Healthcare | 0.79% | 0.95% |
#30
7
Prev: #23
|
0.8 |
—
|
-25,000 | -10.0% |
P
S
|
225,000 | $15,783,750 | 2020 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
BHVN
BIOHAVEN LTD
|
Healthcare | 0.75% | 0.01% |
#31
4
Prev: #35
|
3.3 |
—
|
1,750,000 | 17500.0% |
P
S
|
1,760,000 | $14,889,600 | 2017 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
CABA
CABALETTA BIO I...
|
Healthcare | 0.74% | 0.45% |
#32
2
Prev: #30
|
2.8 |
—
|
1,100,000 | 25.0% |
P
S
|
5,500,000 | $14,795,000 | 2019 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
N/A
HELIX ACQUISITI...
|
|
Unknown | 0.66% | — |
#33
Prev: #—
|
3.8 |
—
|
1,297,500 | — |
NEW
|
1,297,500 | $13,182,600 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
ARQT
ARCUTIS BIOTHER...
|
Healthcare | 0.53% | 0.67% |
#34
7
Prev: #27
|
0.7 |
—
|
-50,000 | -10.0% |
P
S
|
450,000 | $10,602,000 | 2022 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
SNSE
SENSEI BIOTHERA...
|
Healthcare | 0.48% | — |
#35
Prev: #—
|
3.7 |
—
|
306,222 | — |
NEW
|
306,222 | $9,652,117 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
CRNX
CRINETICS PHARM...
|
Healthcare | 0.46% | 0.65% |
#36
8
Prev: #28
|
0.7 |
—
|
-50,000 | -16.7% |
P
S
|
250,000 | $9,080,000 | 2023 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ZURA
ZURA BIO LTD
|
Healthcare | 0.43% | — |
#37
Prev: #—
|
3.7 |
—
|
1,450,000 | — |
NEW
|
1,450,000 | $8,627,500 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
AXSM
AXSOME THERAPEU...
|
Healthcare | 0.42% | 0.63% |
#38
9
Prev: #29
|
0.2 |
—
|
-25,000 | -33.3% |
P
S
|
50,000 | $8,451,000 | 2019 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
GPCR
STRUCTURE THERA...
|
Healthcare | 0.42% | — |
#39
Prev: #—
|
3.7 |
—
|
175,000 | — |
NEW
|
175,000 | $8,435,000 | 2023 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
COGT
COGENT BIOSCIEN...
|
Healthcare | 0.39% | 0.37% |
#40
8
Prev: #32
|
0.7 |
—
|
-25,000 | -11.1% |
P
S
|
200,000 | $7,698,000 | 2022 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
OLMA
CALL
OLEMA PHARMACEU...
|
CALL Option | 0.37% | — |
#41
Prev: #—
|
3.6 |
—
|
500,000 | — |
NEW
|
500,000 | $7,455,000 | 2020 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
GLUE
MONTE ROSA THER...
|
Healthcare | 0.33% | — |
#42
Prev: #—
|
3.6 |
—
|
400,000 | — |
NEW
|
400,000 | $6,580,000 | 2021 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ARWR
ARROWHEAD PHARM...
|
Healthcare | 0.31% | — |
#43
Prev: #—
|
3.6 |
—
|
100,000 | — |
NEW
|
100,000 | $6,270,000 | 2013 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
PCVX
VAXCYTE INC
|
Healthcare | 0.29% | 0.27% |
#44
11
Prev: #33
|
0.1 |
—
|
-25,000 | -20.0% |
P
S
|
100,000 | $5,811,000 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
AMLX
AMYLYX PHARMACE...
|
Healthcare | 0.24% | 0.22% |
#45
11
Prev: #34
|
0.6 |
—
|
-50,000 | -12.5% |
P
S
|
350,000 | $4,865,000 | 2022 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
N/A
RALLYBIO CORP
|
|
Unknown | 0.18% | — |
#46
Prev: #—
|
3.6 |
—
|
400,000 | — |
NEW
|
400,000 | $3,588,000 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
CNTX
CONTEXT THERAPE...
|
Healthcare | 0.07% | — |
#47
Prev: #—
|
3.5 |
—
|
529,550 | — |
NEW
|
529,550 | $1,387,421 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
JANX
JANUX THERAPEUT...
|
Healthcare | 0.00% | 0.41% |
Sold All 😨
(Was: #31) |
0.0 |
—
|
-650,000 | -100.0% |
CLOSED
|
— | $— | 2024 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
GHRS
GH RESEARCH PLC
|
Healthcare | 0.00% | 0.76% |
Sold All 😨
(Was: #25) |
0.0 |
—
|
-1,300,000 | -100.0% |
CLOSED
|
— | $— | 2021 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ENGN
ENGENE HOLDINGS...
|
Healthcare | 0.00% | 1.67% |
Sold All 😨
(Was: #15) |
0.0 |
—
|
-4,000,000 | -100.0% |
CLOSED
|
— | $— | 2024 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 |
Showing 1-50 of 53 holdings