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Cormorant Asset Management, LP

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13F filer, CIK 1583977, BOSTON, MA

Cormorant Asset Management, LP reported $1,991,046,371 across 47 holdings for the quarter ended 2026-03-31, in a 13F-HR filed 2026-05-15. Its ten largest share positions make up 59.28% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001583977-26-000002

Period
2026-03-31
Reported value
$1.99B
Holdings
47
Top 10 weight
59.28%
New
18
Sold out
6

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ERASnew+5,800,000$93.8M
DNTHnew+950,000$79.7M
DMRAnew+1,525,000$39.5M
TNGXnew+1,425,000$29.8M
AGMBnew+2,465,348$25.9M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
ABVXreduced-590,000-$65.7M
ENGNexited-4,000,000-$36.1M
BBIOreduced-350,000-$26M
PRAXreduced-64,500-$20.8M
GHRSexited-1,300,000-$16.5M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2026

Share positions as resolved from 13F-HR 0001583977-26-000002, largest first. % of portfolio is the value over $1,983,591,371, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
PRAXPRAXIS PRECISION MEDICINES IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 870,000 shares; 2024Q4: 1,693,219 shares; 2025Q1: 1,745,000 shares; 2025Q2: 1,625,000 shares; 2025Q3: 1,000,000 shares; 2025Q4: 950,000 shares; 2026Q1: 885,500 shares 885,500$285M14.38%-64,500Timeline
BBOTBRIDGEBIO ONCOLOGY THERAPEUTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 17,878,594 shares; 2025Q4: 17,878,594 shares; 2026Q1: 17,878,594 shares 17,878,594$160M8.07%0Timeline
EYPTEYEPOINT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 8,325,000 shares; 2024Q4: 8,325,000 shares; 2025Q1: 8,325,000 shares; 2025Q2: 8,325,000 shares; 2025Q3: 8,325,000 shares; 2025Q4: 8,265,000 shares; 2026Q1: 8,265,000 shares 8,265,000$107M5.37%0Timeline
EWTXEDGEWISE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 3,406,534 shares; 2024Q4: 3,406,534 shares; 2025Q1: 4,101,992 shares; 2025Q2: 4,251,992 shares; 2025Q3: 4,010,000 shares; 2025Q4: 3,285,000 shares; 2026Q1: 3,260,000 shares 3,260,000$103M5.18%-25,000Timeline
ERASERASCA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 5,800,000 shares 5,800,000$93.8M4.73%newTimeline
RAPPRAPPORT THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 2,940,921 shares; 2024Q4: 2,940,921 shares; 2025Q1: 2,940,921 shares; 2025Q2: 2,940,921 shares; 2025Q3: 3,192,521 shares; 2025Q4: 3,027,521 shares; 2026Q1: 2,957,521 shares 2,957,521$92.5M4.67%-70,000Timeline
ALMSALUMIS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 2,147,396 shares; 2024Q4: 2,147,396 shares; 2025Q1: 2,147,396 shares; 2025Q2: 2,147,396 shares; 2025Q3: 2,147,396 shares; 2025Q4: 3,635,596 shares; 2026Q1: 3,949,241 shares 3,949,241$87M4.39%+313,645Timeline
ABVXABIVAX SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 2,130,000 shares; 2024Q4: 2,130,000 shares; 2025Q1: 2,130,000 shares; 2025Q2: 2,130,000 shares; 2025Q3: 1,950,000 shares; 2025Q4: 1,350,000 shares; 2026Q1: 760,000 shares 760,000$84.6M4.27%-590,000Timeline
MLTXMOONLAKE IMMUNOTHERAPEUTICSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 8,494,151 shares; 2024Q4: 8,494,151 shares; 2025Q1: 8,494,151 shares; 2025Q2: 8,494,151 shares; 2025Q3: 1,994,173 shares; 2025Q4: 4,355,433 shares; 2026Q1: 4,480,433 shares 4,480,433$83.5M4.21%+125,000Timeline
DNTHDIANTHUS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 950,000 shares 950,000$79.7M4.02%newTimeline
DRUGBRIGHT MINDS BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,059,331 shares; 2025Q1: 1,059,331 shares; 2025Q2: 1,059,331 shares; 2025Q3: 1,059,331 shares; 2025Q4: 1,059,331 shares; 2026Q1: 1,059,331 shares 1,059,331$77.3M3.9%0Timeline
BBIOBRIDGEBIO PHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,858,351 shares; 2024Q4: 1,600,000 shares; 2025Q1: 2,000,000 shares; 2025Q2: 1,600,000 shares; 2025Q3: 1,400,000 shares; 2025Q4: 1,200,000 shares; 2026Q1: 850,000 shares 850,000$63.1M3.18%-350,000Timeline
OLMAOLEMA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 2,750,000 shares; 2026Q1: 3,900,000 shares 3,900,000$58.1M2.93%+1,150,000Timeline
BIOABIOAGE LABS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,629,529 shares; 2024Q4: 2,629,529 shares; 2025Q1: 2,629,529 shares; 2025Q2: 2,140,605 shares; 2025Q3: 2,140,605 shares; 2025Q4: 2,040,605 shares; 2026Q1: 2,890,605 shares 2,890,605$50.6M2.55%+850,000Timeline
CNTACENTESSA PHARMACEUTICALS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 2,561,600 shares; 2024Q4: 2,561,600 shares; 2025Q1: 2,261,600 shares; 2025Q2: 2,086,600 shares; 2025Q3: 1,925,000 shares; 2025Q4: 1,325,000 shares; 2026Q1: 1,050,000 shares 1,050,000$41.7M2.1%-275,000Timeline
DMRADAMORA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 1,525,000 shares 1,525,000$39.5M1.99%newTimeline
MBXMBX BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 700,000 shares; 2024Q4: 700,000 shares; 2025Q1: 700,000 shares; 2025Q2: 700,000 shares; 2025Q3: 1,225,000 shares; 2025Q4: 1,120,000 shares; 2026Q1: 1,120,000 shares 1,120,000$33.4M1.69%0Timeline
INSMINSMED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 500,000 shares; 2024Q4: 650,000 shares; 2025Q1: 525,000 shares; 2025Q2: 540,000 shares; 2025Q3: 430,000 shares; 2025Q4: 275,000 shares; 2026Q1: 190,000 shares 190,000$31.1M1.57%-85,000Timeline
NAMSNEWAMSTERDAM PHARMA COMPANYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 2,470,000 shares; 2024Q4: 3,250,000 shares; 2025Q1: 2,825,000 shares; 2025Q2: 2,175,000 shares; 2025Q3: 2,175,000 shares; 2025Q4: 1,000,000 shares; 2026Q1: 950,000 shares 950,000$30.4M1.53%-50,000Timeline
TNGXTANGO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 1,425,000 shares 1,425,000$29.8M1.5%newTimeline
PHVSPHARVARIS N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,466,460 shares; 2024Q4: 1,466,460 shares; 2025Q1: 1,466,460 shares; 2025Q2: 1,454,660 shares; 2025Q3: 1,363,200 shares; 2025Q4: 1,083,000 shares; 2026Q1: 1,000,000 shares 1,000,000$28.2M1.42%-83,000Timeline
ORKAORUKA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 533,340 shares; 2025Q4: 533,340 shares; 2026Q1: 533,340 shares 533,340$26.2M1.32%0Timeline
AGMBAGOMAB THERAPEUTICS NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 2,465,348 shares 2,465,348$25.9M1.3%newTimeline
MAZEMAZE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 750,000 shares 750,000$22.4M1.13%newTimeline
CRBPCORBUS PHARMACEUTICALS HLDGSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 2,375,000 shares; 2024Q4: 2,375,000 shares; 2025Q1: 2,375,000 shares; 2025Q2: 2,375,000 shares; 2025Q3: 2,375,000 shares; 2025Q4: 2,344,971 shares; 2026Q1: 2,344,971 shares 2,344,971$22M1.11%0Timeline
ASNDASCENDIS PHARMA A/SQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 100,000 shares; 2026Q1: 95,000 shares 95,000$21.7M1.1%-5,000Timeline
ROIVROIVANT SCIENCES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 750,000 shares 750,000$20.8M1.05%newTimeline
ANLADLAI NORTYE GROUP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 2,897,857 shares 2,897,857$20.1M1.01%newTimeline
TERNTERNS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 300,000 shares 300,000$15.8M0.8%newTimeline
TARSTARSUS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 500,000 shares; 2024Q4: 500,000 shares; 2025Q1: 400,000 shares; 2025Q2: 300,000 shares; 2025Q3: 300,000 shares; 2025Q4: 250,000 shares; 2026Q1: 225,000 shares 225,000$15.8M0.8%-25,000Timeline
BHVNBIOHAVEN LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 401,963 shares; 2024Q4: 55,539 shares; 2025Q1: 10,000 shares; 2025Q2: 10,000 shares; 2025Q3: 10,000 shares; 2025Q4: 10,000 shares; 2026Q1: 1,760,000 shares 1,760,000$14.9M0.75%+1,750,000Timeline
CABACABALETTA BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 5,000,000 shares; 2025Q3: 5,000,000 shares; 2025Q4: 4,400,000 shares; 2026Q1: 5,500,000 shares 5,500,000$14.8M0.75%+1,100,000Timeline
HLXCHELIX ACQUISITION CORP IIIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 1,297,500 shares 1,297,500$13.2M0.66%newTimeline
ARQTARCUTIS BIOTHERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 2,325,000 shares; 2024Q4: 1,825,000 shares; 2025Q1: 1,350,000 shares; 2025Q2: 1,000,000 shares; 2025Q3: 775,000 shares; 2025Q4: 500,000 shares; 2026Q1: 450,000 shares 450,000$10.6M0.53%-50,000Timeline
FTHFAETH THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 306,222 shares 306,222$9.65M0.49%newTimeline
CRNXCRINETICS PHARMACEUTICALS INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,100,000 shares; 2024Q4: 1,000,000 shares; 2025Q1: 600,000 shares; 2025Q2: 400,000 shares; 2025Q3: 400,000 shares; 2025Q4: 300,000 shares; 2026Q1: 250,000 shares 250,000$9.08M0.46%-50,000Timeline
ZURAZURA BIO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 1,450,000 shares 1,450,000$8.63M0.43%newTimeline
AXSMAXSOME THERAPEUTICS INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 400,000 shares; 2024Q4: 325,000 shares; 2025Q1: 250,000 shares; 2025Q2: 100,000 shares; 2025Q3: 100,000 shares; 2025Q4: 75,000 shares; 2026Q1: 50,000 shares 50,000$8.45M0.43%-25,000Timeline
GPCRSTRUCTURE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 175,000 shares 175,000$8.44M0.43%newTimeline
COGTCOGENT BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 225,000 shares; 2026Q1: 200,000 shares 200,000$7.7M0.39%-25,000Timeline
GLUEMONTE ROSA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 400,000 shares 400,000$6.58M0.33%newTimeline
ARWRARROWHEAD PHARMACEUTICALS INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 100,000 shares 100,000$6.27M0.32%newTimeline
PCVXVAXCYTE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,000,000 shares; 2024Q4: 425,000 shares; 2025Q1: 175,000 shares; 2025Q2: 175,000 shares; 2025Q3: 175,000 shares; 2025Q4: 125,000 shares; 2026Q1: 100,000 shares 100,000$5.81M0.29%-25,000Timeline
AMLXAMYLYX PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 500,000 shares; 2025Q4: 400,000 shares; 2026Q1: 350,000 shares 350,000$4.87M0.25%-50,000Timeline
RLYBRALLYBIO CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 400,000 shares 400,000$3.59M0.18%newTimeline
CNTXCONTEXT THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 529,550 shares 529,550$1.39M0.07%newTimeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
OLMAOLEMA PHARMACEUTICALS INC COMcall500,000$7.46Mnew

Sold out in Q1 2026

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
QQQINVESCO QQQ TR250,000$154Mput
IWMISHARES TR500,000$123Mput
XBISPDR SERIES TRUST1,000,000$122Mput
ENGNENGENE HOLDINGS INC4,000,000$36.1Mshares
GHRSGH RESEARCH PLC1,300,000$16.5Mshares
JANXJANUX THERAPEUTICS INC650,000$8.97Mshares

How Q1 2026 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001583977-26-000002 base2026-05-15acceptance time not in the bulk data set