Returns–Not enough quarters yet
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| PRAXPraxis Precision Medicines I | $214.3M | 11.0% | −27.7% |
| BBOTBridgebio Oncology Therapeut | $136.2M | 7.0% | |
| PBLSParabilis Medicines Inc | $126.3M | 6.5% | New |
| RAPPRapport Therapeutics Inc | $110.7M | 5.7% | −10.1% |
| ERASErasca Inc | $109.9M | 5.6% | +3.4% |
| EWTXEdgewise Therapeutics Inc | $102.0M | 5.2% | −23.0% |
| EYPTEyepoint Inc | $100.1M | 5.1% | −15.3% |
| ALMSAlumis Inc | $92.5M | 4.7% | −16.8% |
| ABVXAbivax Sa | $90.0M | 4.6% | −11.2% |
| DNTHDianthus Therapeutics Inc | $73.1M | 3.7% | −21.1% |
| DRUGBright Minds Biosciences Inc | $63.2M | 3.2% | −15.0% |
| MLTXMoonlake Immunotherapeutics | $62.4M | 3.2% | −28.5% |
| BIOABioage Labs Inc | $58.6M | 3.0% | −17.3% |
| ORKAOruka Therapeutics Inc | $50.8M | 2.6% | |
| ANLAdlai Nortye Ltd | $45.7M | 2.3% | +37.3% |
| BBIOBridgebio Pharma Inc | $41.0M | 2.1% | −35.3% |
| TNGXTango Therapeutics Inc | $40.6M | 2.1% | −8.8% |
| Biohaven LtdCUSIP G1110E107 | $38.8M | 2.0% | +48.3% |
| AGMBAgomab Therapeutics Nv | $32.0M | 1.6% | |
| MBXMbx Biosciences Inc | $30.4M | 1.6% | −50.9% |
| CLYMClimb Bio Inc | $27.5M | 1.4% | New |
| OLMAOlema Pharmaceuticals Inc | $26.9M | 1.4% | −44.9% |
| Damora Therapeutics IncCUSIP 36322Q206 | $26.0M | 1.3% | −34.4% |
| Pharvaris N VCUSIP N69605108 | $25.9M | 1.3% | −25.0% |
| CRBPCorbus Pharmaceuticals Hldgs | $22.0M | 1.1% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| ORKAOruka Therapeutics Inc | September 30, 2025 | +394.9% | $50.8M |
| EYPTEyepoint Inc | March 31, 2023 | +386.4% | $100.1M |
| INSMInsmed Inc | September 30, 2023 | +322.3% | $8.0M |
| ARQTArcutis Biotherapeutics Inc | March 31, 2024 | +164.6% | $4.6M |
| BBIOBridgebio Pharma Inc | June 30, 2020 | +128.4% | $41.0M |
| MBXMbx Biosciences Inc | September 30, 2024 | +112.5% | $30.4M |
| ALMSAlumis Inc | June 30, 2024 | +111.6% | $92.5M |
| CABACabaletta Bio Inc | June 30, 2025 | +104.6% | $15.6M |
| DRUGBright Minds Biosciences Inc | December 31, 2024 | +94.9% | $63.2M |
| RAPPRapport Therapeutics Inc | June 30, 2024 | +79.1% | $110.7M |
Sold off last quarter
- Centessa Pharmaceuticals PLCCUSIP 152309100 was $41.7M
- MAZEMaze Therapeutics Inc was $22.4M
- Ascendis Pharma A/sCUSIP 04351P101 was $21.7M
- Terns Pharmaceuticals IncCUSIP 880881107 was $15.8M
- Zura Bio LtdCUSIP G9TY5A101 was $8.6M
- AXSMAxsome Therapeutics Inc. was $8.5M
- GLUEMonte Rosa Therapeutics Inc was $6.6M
- RLYBRallybio Corp was $3.6M
- CNTXContext Therapeutics Inc was $1.4M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +13.3% | +14.8% |
| March 31, 2026 | −1.9% | −4.6% |
| December 31, 2025 | +24.4% | +2.4% |
| June 30, 2025 | +6.7% | +10.5% |
| March 31, 2025 | −23.5% | −4.6% |
| December 31, 2024 | −4.2% | +2.1% |
| September 30, 2024 | +10.4% | +5.4% |
| June 30, 2024 | −18.5% | +4.0% |
| March 31, 2024 | +3.7% | +10.0% |
| December 31, 2023 | +30.2% | +11.2% |
| September 30, 2023 | −8.2% | −3.6% |
| June 30, 2023 | +24.8% | +8.3% |
| March 31, 2023 | −2.7% | +7.0% |
| December 31, 2022 | +6.6% | +7.1% |
| September 30, 2022 | +36.4% | −5.3% |
| June 30, 2022 | −3.6% | −16.5% |
| March 31, 2022 | −28.0% | −4.9% |
| December 31, 2021 | −19.8% | +10.7% |
| September 30, 2021 | −9.7% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Cormorant Asset Management, LP Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1583977&type=13F-HR&dateb=&owner=include&count=40CIK 1583977
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1583977/000158397726000007/Filed August 14, 2026 · accession 0001583977-26-000007