Cormorant Asset Management, LP

CIK

1583977

Location

BOSTON, MA

Portfolio Value

Mid $1,969,456,557

Diversification

Diversified

Reports for

Chen Bihua

Filing Date

Global Rank

#1,337 / 8,700 ▲ 133

Top Industry

Biotechnology 95.9%

Period ended 2 months ago

Filed Aug 14, 2026 · 30d

26 quarters · since Mar 2020

Portfolio Concentration

50 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

10.9%

−3.9 pts

Top 5

35.4%

−3.3 pts

Top 10

58.7%

−2.2 pts

HHI

455

Diversified−87

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Healthcare	99.1%	$1,951,692,157	48
Financial Services	0.9%	$17,764,400	2

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

4 positions

Ticker	Company	Δ Shares	Shares	Value
ANL	Adlai Nortye Group Ltd.	+1,080,372	3,978,229	$45,749,633
BHVN	Biohaven Ltd.	+850,000	2,610,000	$38,836,800
FTH	Faeth Therapeutics, Inc.	+722,020	1,028,242	$25,706,050
ERAS	Erasca, Inc.	+200,000	6,000,000	$109,920,000
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
OLMA	Olema Pharmaceuticals, Inc.	−2,250,000	2,150,000	$26,896,500
MLTX	MoonLake Immunotherapeutics	−1,275,000	3,205,433	$62,409,780
EYPT	EyePoint, Inc.	−1,265,000	7,000,000	$100,100,000
EWTX	Edgewise Therapeutics, Inc.	−750,000	2,510,000	$101,981,300
ALMS	Alumis Inc.	−663,645	3,285,596	$92,456,671
MBX	MBX Biosciences, Inc.	−570,000	550,000	$30,360,000
DMRA	Damora Therapeutics, Inc.	−525,000	1,000,000	$26,010,000
BIOA	BioAge Labs, Inc.	−500,000	2,390,605	$58,593,728
CABA	Cabaletta Bio, Inc.	−500,000	5,000,000	$15,550,000
NAMS	NewAmsterdam Pharma Co N.V.	−450,000	500,000	$16,945,000
RAPP	Rapport Therapeutics, Inc.	−300,000	2,657,521	$110,738,900
BBIO	BridgeBio Pharma, Inc.	−300,000	550,000	$40,964,000
ARQT	Arcutis Biotherapeutics, Inc.	−275,000	175,000	$4,588,500
ROIV	Roivant Sciences Ltd.	−275,000	475,000	$16,810,250
PHVS	Pharvaris N.V.	−250,000	750,000	$25,935,000
PRAX	Praxis Precision Medicines, Inc.	−245,500	640,000	$214,265,600
DNTH	Dianthus Therapeutics, Inc. /DE/	−200,000	750,000	$73,110,000
DRUG	Bright Minds Biosciences Inc.	−159,331	900,000	$63,180,000
AMLX	Amylyx Pharmaceuticals, Inc.	−150,000	200,000	$3,592,000
TNGX	Tango Therapeutics, Inc.	−125,000	1,300,000	$40,638,000
CRNX	Crinetics Pharmaceuticals, Inc.	−125,000	125,000	$4,677,500
TARS	Tarsus Pharmaceuticals, Inc.	−125,000	100,000	$6,294,000
INSM	INSMED Inc	−115,000	75,000	$7,996,500
COGT	Cogent Biosciences, Inc.	−100,000	100,000	$3,870,000
GPCR	Structure Therapeutics Inc.	−100,000	75,000	$4,025,250
No positions match the current search.

New Positions

Positions the filer opened this quarter

12 positions

Ticker	Company	Shares	Value
PBLS	Parabilis Medicines, Inc.	4,615,612	$126,329,300
CLYM	Climb Bio, Inc.	2,106,000	$27,462,240
SYRE	Spyre Therapeutics, Inc.	225,000	$19,975,500
DFTX	Definium Therapeutics, Inc.	400,000	$18,816,000
KLRA	Kailera Therapeutics, Inc.	550,000	$12,116,500
ELVN	Enliven Therapeutics, Inc.	150,000	$7,612,500
IBIO	iBio, Inc.	3,570,000	$6,247,500
RACC	Research Alliance Corp III	370,000	$3,959,000
ALT	Altimmune, Inc.	1,250,000	$3,800,000
ODTX	Odyssey Therapeutics, Inc.	175,000	$3,274,250
BOLD	Boundless Bio, Inc.	1,000,000	$2,500,000
QNCX	Quince Therapeutics, Inc.	5,498	$100,008
No positions match the current search.

Sold Out

Positions the filer fully exited

8 positions

Ticker	Company	Shares	Value
MAZE	Maze Therapeutics, Inc.	750,000	$22,387,500
ZURA	Zura Bio Ltd	1,450,000	$8,627,500
AXSM	Axsome Therapeutics, Inc.	50,000	$8,451,000
GLUE	Monte Rosa Therapeutics, Inc.	400,000	$6,580,000
RLYB	Rallybio Corp	400,000	$3,588,000
CNTX	Context Therapeutics Inc.	529,550	$1,387,421
—		300,000	$0
CNTA	Centessa Pharmaceuticals plc	1,050,000	$0
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

50 tracked positions · $1,969,456,557 total · filing declares 50 positions · $1,951,406,063 · as of Jun 30, 2026

All sectors Financial Services Healthcare

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
PRAX	Praxis Precision Medicines, Inc. Healthcare	Reduced	640,000	-245,500	$214,265,600	−24.9%	10.88%
BBOT	BridgeBio Oncology Therapeutics, Inc. Healthcare	Held	17,878,594	0	$136,234,886	−14.9%	6.92%
PBLS	Parabilis Medicines, Inc. Healthcare	NEW	4,615,612	NEW	$126,329,300	NEW	6.41%
RAPP	Rapport Therapeutics, Inc. Healthcare	Reduced	2,657,521	-300,000	$110,738,900	+19.7%	5.62%
ERAS	Erasca, Inc. Healthcare	Added	6,000,000	+200,000	$109,920,000	+17.1%	5.58%
EWTX	Edgewise Therapeutics, Inc. Healthcare	Reduced	2,510,000	-750,000	$101,981,300	−0.7%	5.18%
EYPT	EyePoint, Inc. Healthcare	Reduced	7,000,000	-1,265,000	$100,100,000	−6.0%	5.08%
ALMS	Alumis Inc. Healthcare	Reduced	3,285,596	-663,645	$92,456,671	+6.3%	4.69%
ABVX	Abivax S.A. Healthcare	Reduced	675,000	-85,000	$89,950,500	+6.3%	4.57%
DNTH	Dianthus Therapeutics, Inc. /DE/ Healthcare	Reduced	750,000	-200,000	$73,110,000	−8.3%	3.71%
DRUG	Bright Minds Biosciences Inc. Healthcare	Reduced	900,000	-159,331	$63,180,000	−18.3%	3.21%
MLTX	MoonLake Immunotherapeutics Healthcare	Reduced	3,205,433	-1,275,000	$62,409,780	−25.3%	3.17%
BIOA	BioAge Labs, Inc. Healthcare	Reduced	2,390,605	-500,000	$58,593,728	+15.9%	2.98%
ORKA	Oruka Therapeutics, Inc. Healthcare	Held	533,340	0	$50,757,967	+94.0%	2.58%
ANL	Adlai Nortye Group Ltd. Healthcare	Added	3,978,229	+1,080,372	$45,749,633	+128.1%	2.32%
BBIO	BridgeBio Pharma, Inc. Healthcare	Reduced	550,000	-300,000	$40,964,000	−35.1%	2.08%
TNGX	Tango Therapeutics, Inc. Healthcare	Reduced	1,300,000	-125,000	$40,638,000	+36.3%	2.06%
BHVN	Biohaven Ltd. Healthcare	Added	2,610,000	+850,000	$38,836,800	+160.8%	1.97%
AGMB	Agomab Therapeutics NV Healthcare	Held	2,465,348	0	$32,000,217	+23.7%	1.62%
MBX	MBX Biosciences, Inc. Healthcare	Reduced	550,000	-570,000	$30,360,000	−9.2%	1.54%
CLYM	Climb Bio, Inc. Healthcare	NEW	2,106,000	NEW	$27,462,240	NEW	1.39%
OLMA	Olema Pharmaceuticals, Inc. Healthcare	Reduced	2,150,000	-2,250,000	$26,896,500	−59.0%	1.37%
DMRA	Damora Therapeutics, Inc. Healthcare	Reduced	1,000,000	-525,000	$26,010,000	−34.1%	1.32%
PHVS	Pharvaris N.V. Healthcare	Reduced	750,000	-250,000	$25,935,000	−8.2%	1.32%
FTH	Faeth Therapeutics, Inc. Healthcare	Added	1,028,242	+722,020	$25,706,050	+166.3%	1.31%
CRBP	Corbus Pharmaceuticals Holdings, Inc. Healthcare	Held	2,344,971	0	$21,995,827	−0.1%	1.12%
SYRE	Spyre Therapeutics, Inc. Healthcare	NEW	225,000	NEW	$19,975,500	NEW	1.01%
DFTX	Definium Therapeutics, Inc. Healthcare	NEW	400,000	NEW	$18,816,000	NEW	0.96%
NAMS	NewAmsterdam Pharma Co N.V. Healthcare	Reduced	500,000	-450,000	$16,945,000	−44.3%	0.86%
ROIV	Roivant Sciences Ltd. Healthcare	Reduced	475,000	-275,000	$16,810,250	−19.1%	0.85%
CABA	Cabaletta Bio, Inc. Healthcare	Reduced	5,000,000	-500,000	$15,550,000	+5.1%	0.79%
HLXC	Helix Acquisition Corp. III Financial Services	Held	1,297,500	0	$13,805,400	+4.7%	0.70%
ASND	Ascendis Pharma A/S Healthcare	Reduced	50,000	-45,000	$13,336,000	−38.6%	0.68%
KLRA	Kailera Therapeutics, Inc. Healthcare	NEW	550,000	NEW	$12,116,500	NEW	0.62%
INSM	INSMED Inc Healthcare	Reduced	75,000	-115,000	$7,996,500	−74.3%	0.41%
ELVN	Enliven Therapeutics, Inc. Healthcare	NEW	150,000	NEW	$7,612,500	NEW	0.39%
TARS	Tarsus Pharmaceuticals, Inc. Healthcare	Reduced	100,000	-125,000	$6,294,000	−60.1%	0.32%
IBIO	iBio, Inc. Healthcare	NEW	3,570,000	NEW	$6,247,500	NEW	0.32%
CRNX	Crinetics Pharmaceuticals, Inc. Healthcare	Reduced	125,000	-125,000	$4,677,500	−48.5%	0.24%
ARQT	Arcutis Biotherapeutics, Inc. Healthcare	Reduced	175,000	-275,000	$4,588,500	−56.7%	0.23%
ARWR	Arrowhead Pharmaceuticals, Inc. Healthcare	Reduced	50,000	-50,000	$4,075,500	−35.0%	0.21%
GPCR	Structure Therapeutics Inc. Healthcare	Reduced	75,000	-100,000	$4,025,250	−52.3%	0.20%
RACC	Research Alliance Corp III Financial Services	NEW	370,000	NEW	$3,959,000	NEW	0.20%
COGT	Cogent Biosciences, Inc. Healthcare	Reduced	100,000	-100,000	$3,870,000	−49.7%	0.20%
ALT	Altimmune, Inc. Healthcare	NEW	1,250,000	NEW	$3,800,000	NEW	0.19%
AMLX	Amylyx Pharmaceuticals, Inc. Healthcare	Reduced	200,000	-150,000	$3,592,000	−26.2%	0.18%
ODTX	Odyssey Therapeutics, Inc. Healthcare	NEW	175,000	NEW	$3,274,250	NEW	0.17%
PCVX	Vaxcyte, Inc. Healthcare	Reduced	50,000	-50,000	$2,906,500	−50.0%	0.15%
BOLD	Boundless Bio, Inc. Healthcare	NEW	1,000,000	NEW	$2,500,000	NEW	0.13%
QNCX	Quince Therapeutics, Inc. Healthcare	NEW	5,498	NEW	$100,008	NEW	0.01%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.