Opaleye Management Inc.

CIK

1595855

Location

Boston, MA

Portfolio Value

Small $704,144,428

Diversification

Diversified

Filing Date

Global Rank

#2,155 / 7,976 ▲ 387

Top Industry

Biotechnology 47.2%

3Y Alpha vs SPY

+14.0%

Period ended 9 months ago

Filed Nov 14, 2025 · 7mo

23 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+146.0%

SPY

+76.5%

Annualised alpha

+14.1%

Max drawdown

−42.1%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

42 positions · as of Sep 30, 2025 · Δ vs Jun 30, 2025

Top Position

26.7%

+1.3 pts

Top 5

55.9%

+1.3 pts

Top 10

73.3%

−4.2 pts

HHI

1,038

Diversified+26

Portfolio Trend

23 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2025

Sector	% Portfolio	Value	Positions
Healthcare	100.0%	$704,144,428	42

Last Quarter's Activity

Export CSV

Sep 30, 2025 vs Jun 30, 2025

Added To

Positions the filer increased

9 positions

Ticker	Company	Δ Shares	Shares	Value
DERM	Journey Medical Corp	+876,064	971,064	$6,913,975
CDXS	Codexis, Inc.	+195,000	12,795,000	$31,219,800
CGON	CG Oncology, Inc.	+144,000	410,000	$16,514,800
LQDA	Liquidia Corp	+140,000	2,615,000	$59,465,100
STOK	Stoke Therapeutics, Inc.	+119,897	682,017	$16,027,399
SRPT	Sarepta Therapeutics, Inc.	+85,000	585,000	$11,272,950
MBX	MBX Biosciences, Inc.	+13,681	253,000	$4,427,500
EWTX	Edgewise Therapeutics, Inc.	+10,000	500,000	$8,110,000
IRON	Disc Medicine, Inc.	+7,355	193,773	$12,804,519
No positions match the current search.

Trimmed

Positions the filer reduced

11 positions

Ticker	Company	Δ Shares	Shares	Value
ZNTL	Zentalis Pharmaceuticals, Inc.	−1,607,750	316,550	$477,990
GOSS	Gossamer Bio, Inc.	−820,000	2,725,000	$7,166,750
ARVN	Arvinas, Inc.	−692,182	987,818	$8,416,209
LRMR	Larimar Therapeutics, Inc.	−389,133	3,720,867	$12,018,400
IMNM	Immunome Inc.	−344,581	3,185,000	$37,296,350
PEPG	PepGen Inc.	−165,000	75,000	$346,500
IRD	Opus Genetics, Inc.	−120,000	1,100,000	$1,815,000
ZYME	Zymeworks Inc.	−110,000	100,000	$1,708,000
ALMS	Alumis Inc.	−110,000	665,000	$2,653,350
RYTM	Rhythm Pharmaceuticals, Inc.	−13,300	461,700	$46,627,083
RVMD	Revolution Medicines, Inc.	−5,000	100,000	$4,670,000
No positions match the current search.

New Positions

Positions the filer opened this quarter

11 positions

Ticker	Company	Shares	Value
APGE	Apogee Therapeutics, Inc.	363,257	$14,432,200
ALKS	Alkermes plc.	450,000	$13,500,000
ANNX	Annexon, Inc.	2,600,000	$7,930,000
SLGL	Sol-Gel Technologies Ltd.	204,835	$5,970,940
PLX	Protalix BioTherapeutics, Inc.	2,580,556	$5,728,834
TMCI	Treace Medical Concepts, Inc.	702,245	$4,712,063
ADCT	ADC Therapeutics SA	682,529	$2,730,116
CABA	Cabaletta Bio, Inc.	808,882	$1,892,783
SYRE	Spyre Therapeutics, Inc.	65,000	$1,089,400
RIGL	Rigel Pharmaceuticals Inc	37,787	$1,070,505
ACOG	Alpha Cognition Inc.	115,142	$749,574
No positions match the current search.

Sold Out

Positions the filer fully exited

4 positions

Ticker	Company	Shares	Value
ANIK	Anika Therapeutics, Inc.	588,797	$6,229,472
DNA	Ginkgo Bioworks Holdings, Inc.	500,000	$5,625,000
TARA	Protara Therapeutics, Inc.	855,000	$2,590,650
RCEL	AVITA Medical, Inc.	389,519	$2,060,555
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

42 positions · $704,144,428 total · as of Sep 30, 2025

All sectors Healthcare

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
ADGM	Adagio Medical Holdings, Inc. Healthcare	Held	110,571	0	$214,507	+49.2%	0.03%
IBIO	iBio, Inc. Healthcare	Held	375,000	0	$311,250	+9.2%	0.04%
PEPG	PepGen Inc. Healthcare	Reduced	75,000	-165,000	$346,500	+30.1%	0.05%
ZNTL	Zentalis Pharmaceuticals, Inc. Healthcare	Reduced	316,550	-1,607,750	$477,990	−78.6%	0.07%
ACOG	Alpha Cognition Inc. Healthcare	NEW	115,142	NEW	$749,574	NEW	0.11%
RIGL	Rigel Pharmaceuticals Inc Healthcare	NEW	37,787	NEW	$1,070,505	NEW	0.15%
SYRE	Spyre Therapeutics, Inc. Healthcare	NEW	65,000	NEW	$1,089,400	NEW	0.15%
ZYME	Zymeworks Inc. Healthcare	Reduced	100,000	-110,000	$1,708,000	−35.2%	0.24%
IRD	Opus Genetics, Inc. Healthcare	Reduced	1,100,000	-120,000	$1,815,000	+58.3%	0.26%
CABA	Cabaletta Bio, Inc. Healthcare	NEW	808,882	NEW	$1,892,783	NEW	0.27%
ALMS	Alumis Inc. Healthcare	Reduced	665,000	-110,000	$2,653,350	+14.1%	0.38%
ADCT	ADC Therapeutics SA Healthcare	NEW	682,529	NEW	$2,730,116	NEW	0.39%
TRVI	Trevi Therapeutics, Inc. Healthcare	Held	390,000	0	$3,568,500	+67.3%	0.51%
MBX	MBX Biosciences, Inc. Healthcare	Added	253,000	+13,681	$4,427,500	+62.1%	0.63%
RVMD	Revolution Medicines, Inc. Healthcare	Reduced	100,000	-5,000	$4,670,000	+20.9%	0.66%
TMCI	Treace Medical Concepts, Inc. Healthcare	NEW	702,245	NEW	$4,712,063	NEW	0.67%
PLX	Protalix BioTherapeutics, Inc. Healthcare	NEW	2,580,556	NEW	$5,728,834	NEW	0.81%
SLGL	Sol-Gel Technologies Ltd. Healthcare	NEW	204,835	NEW	$5,970,940	NEW	0.85%
DERM	Journey Medical Corp Healthcare	Added	971,064	+876,064	$6,913,975	+913.6%	0.98%
PTGX	Protagonist Therapeutics, Inc Healthcare	Held	105,000	0	$6,975,150	+20.2%	0.99%
GOSS	Gossamer Bio, Inc. Healthcare	Reduced	2,725,000	-820,000	$7,166,750	+64.4%	1.02%
ANNX	Annexon, Inc. Healthcare	NEW	2,600,000	NEW	$7,930,000	NEW	1.13%
EWTX	Edgewise Therapeutics, Inc. Healthcare	Added	500,000	+10,000	$8,110,000	+26.2%	1.15%
ARVN	Arvinas, Inc. Healthcare	Reduced	987,818	-692,182	$8,416,209	−31.9%	1.20%
RZLT	Rezolute, Inc. Healthcare	Held	903,442	0	$8,492,354	+110.8%	1.21%
XOMA	XOMA Royalty Corp Healthcare	Held	255,087	0	$9,831,052	+52.9%	1.40%
SRPT	Sarepta Therapeutics, Inc. Healthcare	Added	585,000	+85,000	$11,272,950	+31.8%	1.60%
LRMR	Larimar Therapeutics, Inc. Healthcare	Reduced	3,720,867	-389,133	$12,018,400	+1.2%	1.71%
IRON	Disc Medicine, Inc. Healthcare	Added	193,773	+7,355	$12,804,519	+29.7%	1.82%
ALKS	Alkermes plc. Healthcare	NEW	450,000	NEW	$13,500,000	NEW	1.92%
APGE	Apogee Therapeutics, Inc. Healthcare	NEW	363,257	NEW	$14,432,200	NEW	2.05%
STOK	Stoke Therapeutics, Inc. Healthcare	Added	682,017	+119,897	$16,027,399	+151.2%	2.28%
CGON	CG Oncology, Inc. Healthcare	Added	410,000	+144,000	$16,514,800	+138.8%	2.35%
OCUL	Ocular Therapeutix, Inc Healthcare	Held	1,595,000	0	$18,645,550	+26.0%	2.65%
TGTX	Tg Therapeutics, Inc. Healthcare	Held	535,000	0	$19,326,875	+0.4%	2.74%
CDXS	Codexis, Inc. Healthcare	Added	12,795,000	+195,000	$31,219,800	+1.5%	4.43%
SNWV	SANUWAVE Health, Inc. Healthcare	Held	980,000	0	$36,730,400	+14.1%	5.22%
IMNM	Immunome Inc. Healthcare	Reduced	3,185,000	-344,581	$37,296,350	+13.6%	5.30%
RYTM	Rhythm Pharmaceuticals, Inc. Healthcare	Reduced	461,700	-13,300	$46,627,083	+55.3%	6.62%
LQDA	Liquidia Corp Healthcare	Added	2,615,000	+140,000	$59,465,100	+92.8%	8.45%
ETON	Eton Pharmaceuticals, Inc. Healthcare	Held	2,860,000	0	$62,147,800	+52.5%	8.83%
HROW	Harrow, Inc. Healthcare	Held	3,905,000	0	$188,142,900	+57.8%	26.72%