Cormorant Asset Management, LP
13F Reported Value
ⓘ$2.0B
incl. option notional
Equity Holdings
ⓘ$2.0B
Option Notional
ⓘ$7.5M
$0 puts / $7.5M calls
Holdings
47
Latest Filing
2026-03-31
Filing Quarter
Q1 2026
Portfolio Overview
Cormorant Asset Management, LP disclosed 47 positions worth $2.0B in its Form 13F-HR for Q1 2026 — $2.0B in common stock plus $7.5M of put/call option positions (reported at underlying notional value, not premium at risk), led by $PRAX (Praxis Precision Medicines, Inc.) at 14.4% of the equity portfolio, followed by $BBOT and $EYPT. During the quarter the fund opened 18 new positions and exited 6 — including a new stake in $ERAS and a full exit from $QQQ. The portfolio is most concentrated in Healthcare (93.5% of disclosed assets). All figures are sourced directly from Cormorant Asset Management, LP’s Form 13F-HR filing with the SEC under CIK 1583977.
AI Fund Analysis
DiversifyingSector Allocation
AUM History
Top Equity Holdings by Value
Option Positions
13F rules report options at the value of the underlying shares (notional) — not the premium paid or capital at risk. Shown separately from the equity sleeve above.
Quarterly Activity — Q1 2026
Click any card to unlockTop Holdings
- $285.3M885,500 sh
- $160.0M17,878,594 sh
- 10.3#2,810
Quality
$106.5M8,265,000 sh - —
Quality
$102.7M3,260,000 sh - —
Quality
$93.8M5,800,000 sh - —
Quality
$92.5M2,957,521 sh - 9.2
Quality
$87.0M3,949,241 sh - —
Quality
$84.6M760,000 sh - —
Quality
$83.5M4,480,433 sh - 26.8
Quality
$79.7M950,000 sh
| Company | Quality | Value | Shares |
|---|---|---|---|
 Praxis Precision Medicines, Inc.$PRAX | — | $285.3M | 885,500 |
 BridgeBio Oncology Therapeutics, Inc.$BBOT | — | $160.0M | 17,878,594 |
 EyePoint, Inc.$EYPT | 10.3#2,810 | $106.5M | 8,265,000 |
 Edgewise Therapeutics, Inc.$EWTX | — | $102.7M | 3,260,000 |
 Erasca, Inc.$ERAS | — | $93.8M | 5,800,000 |
 Rapport Therapeutics, Inc.$RAPP | — | $92.5M | 2,957,521 |
 ALUMIS INC.$ALMS | 9.2 | $87.0M | 3,949,241 |
 Abivax S.A.$ABVX | — | $84.6M | 760,000 |
 MoonLake Immunotherapeutics$MLTX | — | $83.5M | 4,480,433 |
 Dianthus Therapeutics, Inc. /DE/$DNTH | 26.8 | $79.7M | 950,000 |
Unlock AI quality scores for every holding
32-signal composite ranking on each of Cormorant Asset Management, LP's 47 positions.
Showing top 10 of 47 holdings.
Sector Allocation
Healthcare
$1.9B
Technology
$106.5M
Other
$22.8M
Full Holdings — Cormorant Asset Management, LP (Q1 2026)
All 47 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.
| # | Ticker | Company | Value | Weight | QoQ | Quality |
|---|---|---|---|---|---|---|
| 1 | $PRAX | Praxis Precision Medicines, Inc. | $285.3M | 14.4% | -7% | — |
| 2 | $BBOT | BridgeBio Oncology Therapeutics, Inc. | $160.0M | 8.1% | +0% | — |
| 3 | $EYPT | EyePoint, Inc. | $106.5M | 5.4% | +0% | 10.3 |
| 4 | $EWTX | Edgewise Therapeutics, Inc. | $102.7M | 5.2% | -1% | — |
| 5 | $ERAS | Erasca, Inc. | $93.8M | 4.7% | NEW | — |
| 6 | $RAPP | Rapport Therapeutics, Inc. | $92.5M | 4.7% | -2% | — |
| 7 | $ALMS | ALUMIS INC. | $87.0M | 4.4% | +9% | 9.2 |
| 8 | $ABVX | Abivax S.A. | $84.6M | 4.3% | -44% | — |
| 9 | $MLTX | MoonLake Immunotherapeutics | $83.5M | 4.2% | +3% | — |
| 10 | $DNTH | Dianthus Therapeutics, Inc. /DE/ | $79.7M | 4.0% | NEW | 26.8 |
| 11 |  $DRUG | BRIGHT MINDS BIOSCIENCES INC. | $77.3M | 3.9% | +0% | — |
| 12 |  $BBIO | BridgeBio Pharma, Inc. | $63.1M | 3.2% | -29% | 31.7 |
| 13 |  $OLMA | Olema Pharmaceuticals, Inc. | $58.1M | 2.9% | +42% | — |
| 14 |  $BIOA | BioAge Labs, Inc. | $50.6M | 2.5% | +42% | 28.6 |
| 15 |  $CNTA | Centessa Pharmaceuticals plc | $41.7M | 2.1% | -21% | — |
| 16 |  $DMRA | Damora Therapeutics, Inc. | $39.5M | 2.0% | NEW | — |
| 17 |  $MBX | MBX Biosciences, Inc. | $33.4M | 1.7% | +0% | — |
| 18 |  $INSM | INSMED Inc | $31.1M | 1.6% | -31% | 29.4 |
| 19 |  $NAMS | NewAmsterdam Pharma Co N.V. | $30.4M | 1.5% | -5% | — |
| 20 |  $TNGX | Tango Therapeutics, Inc. | $29.8M | 1.5% | NEW | 26.9 |
| 21 |  $PHVS | Pharvaris N.V. | $28.3M | 1.4% | -8% | — |
| 22 |  $ORKA | Oruka Therapeutics, Inc. | $26.2M | 1.3% | +0% | — |
| 23 |  $AGMB | Agomab Therapeutics NV | $25.9M | 1.3% | NEW | — |
| 24 |  $MAZE | Maze Therapeutics, Inc. | $22.4M | 1.1% | NEW | 19.7 |
| 25 |  $CRBP | Corbus Pharmaceuticals Holdings, Inc. | $22.0M | 1.1% | +0% | — |
| 26 |  $ASND | Ascendis Pharma A/S | $21.7M | 1.1% | -5% | 41.5 |
| 27 |  $ROIV | Roivant Sciences Ltd. | $20.8M | 1.1% | NEW | — |
| 28 |  $ANL | Adlai Nortye Ltd. | $20.1M | 1.0% | NEW | — |
| 29 |  $TERN | Terns Pharmaceuticals, Inc. | $15.8M | 0.8% | NEW | — |
| 30 |  $TARS | Tarsus Pharmaceuticals, Inc. | $15.8M | 0.8% | -10% | 40.8 |
| 31 |  $BHVN | Biohaven Ltd. | $14.9M | 0.8% | NEW | — |
| 32 |  $CABA | Cabaletta Bio, Inc. | $14.8M | 0.8% | +25% | — |
| 33 | — | HELIX ACQUISITION CORP III | $13.2M | 0.7% | NEW | — |
| 34 |  $ARQT | Arcutis Biotherapeutics, Inc. | $10.6M | 0.5% | -10% | 41.2 |
| 35 | — | SENSEI BIOTHERAPEUTICS INC | $9.7M | 0.5% | NEW | — |
| 36 |  $CRNX | Crinetics Pharmaceuticals, Inc. | $9.1M | 0.5% | -17% | 26.5 |
| 37 |  $ZURA | Zura Bio Ltd | $8.6M | 0.4% | NEW | — |
| 38 |  $AXSM | Axsome Therapeutics, Inc. | $8.5M | 0.4% | -33% | 36.6 |
| 39 |  $GPCR | Structure Therapeutics Inc. | $8.4M | 0.4% | NEW | — |
| 40 |  $COGT | Cogent Biosciences, Inc. | $7.7M | 0.4% | -11% | — |
| 41 | $OLMACALL | Olema Pharmaceuticals, Inc. | $7.5M | — | NEW | — |
| 42 |  $GLUE | Monte Rosa Therapeutics, Inc. | $6.6M | 0.3% | NEW | 18.1 |
| 43 |  $ARWR | ARROWHEAD PHARMACEUTICALS, INC. | $6.3M | 0.3% | NEW | 74.4 |
| 44 |  $PCVX | Vaxcyte, Inc. | $5.8M | 0.3% | -20% | — |
| 45 |  $AMLX | Amylyx Pharmaceuticals, Inc. | $4.9M | 0.3% | -13% | — |
| 46 |  $RLYB | Rallybio Corp | $3.6M | 0.2% | NEW | — |
| 47 |  $CNTX | Context Therapeutics Inc. | $1.4M | 0.1% | NEW | — |
New Positions (18)
$ERAS Erasca, Inc.$93.8M$DNTH Dianthus Therapeutics, Inc. /DE/$79.7M$DMRA Damora Therapeutics, Inc.$39.5M$TNGX Tango Therapeutics, Inc.$29.8M$AGMB Agomab Therapeutics NV$25.9M$MAZE Maze Therapeutics, Inc.$22.4M$ROIV Roivant Sciences Ltd.$20.8M$ANL Adlai Nortye Ltd.$20.1M$TERN Terns Pharmaceuticals, Inc.$15.8M$ZURA Zura Bio Ltd$8.6M$GPCR Structure Therapeutics Inc.$8.4M$OLMACALL Olema Pharmaceuticals, Inc.$7.5M$GLUE Monte Rosa Therapeutics, Inc.$6.6M
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