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Decheng Capital LLC

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13F filer, CIK 2010850, MENLO PARK, CA

Decheng Capital LLC reported $356,489,453 across 27 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-08. Its ten largest share positions make up 86.5% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001104659-25-045686

Period
2025-03-31
Reported value
$356M
Holdings
27
Top 10 weight
86.5%
New
1
Sold out
2

Largest buys vs the previous quarter

SecurityShares changeApprox. value
AARDnew+3,917,299$29.4M
ACRSadded+1,775,069$2.72M
CRNXadded+10,000$335K

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
ILMNreduced-83,018-$6.59M
PHATexited-694,254-$5.64M
ACLXreduced-34,377-$2.26M
KRYSreduced-11,772-$2.12M
BNTXreduced-20,000-$1.82M

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 2025

Share positions as resolved from 13F-HR 0001104659-25-045686, largest first. % of portfolio is the value over $356,489,453, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
CGONCG ONCOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,478,810 shares; 2024Q4: 6,371,669 shares; 2025Q1: 6,371,669 shares 6,371,669$156M43.77%0Timeline
NUVBNUVATION BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 25,954,439 shares; 2024Q4: 25,954,439 shares; 2025Q1: 25,954,439 shares 25,954,439$45.7M12.81%0Timeline
AARDAARDVARK THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 3,917,299 shares 3,917,299$29.4M8.25%newTimeline
UPBUPSTREAM BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 3,285,293 shares; 2025Q1: 3,285,293 shares 3,285,293$20.1M5.64%0Timeline
NAMSNEWAMSTERDAM PHARMA COMPANYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 590,000 shares; 2024Q4: 770,000 shares; 2025Q1: 770,000 shares 770,000$15.8M4.42%0Timeline
KRYSKRYSTAL BIOTECH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 71,772 shares; 2024Q4: 76,772 shares; 2025Q1: 65,000 shares 65,000$11.7M3.29%-11,772Timeline
RVMDREVOLUTION MEDICINES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,000 shares; 2024Q4: 226,000 shares; 2025Q1: 226,000 shares 226,000$7.99M2.24%0Timeline
MERUS N VMERUS N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 189,098 shares; 2024Q4: 189,098 shares; 2025Q1: 189,098 shares 189,098$7.96M2.23%0
BYSIBEYONDSPRING INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,958,143 shares; 2024Q4: 4,882,651 shares; 2025Q1: 4,882,651 shares 4,882,651$6.97M1.96%0Timeline
MOONLAKE IMMUNOTHERAPEUTICSMOONLAKE IMMUNOTHERAPEUTICSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 166,600 shares; 2024Q4: 171,600 shares; 2025Q1: 171,600 shares 171,600$6.7M1.88%0
LYELL IMMUNOPHARMA INCLYELL IMMUNOPHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 11,909,341 shares; 2025Q1: 11,909,341 shares 11,909,341$6.41M1.8%0
RCUSARCUS BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 869,790 shares; 2024Q4: 808,789 shares; 2025Q1: 808,789 shares 808,789$6.35M1.78%0Timeline
ACRSACLARIS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,266,667 shares; 2025Q1: 4,041,736 shares 4,041,736$6.18M1.73%+1,775,069Timeline
CRNXCRINETICS PHARMACEUTICALS INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 157,958 shares; 2024Q4: 167,958 shares; 2025Q1: 177,958 shares 177,958$5.97M1.67%+10,000Timeline
CYTKCYTOKINETICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 94,043 shares; 2024Q4: 100,000 shares; 2025Q1: 100,000 shares 100,000$4.02M1.13%0Timeline
LEGNLEGEND BIOTECH CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 108,558 shares; 2024Q4: 153,558 shares; 2025Q1: 100,000 shares 100,000$3.39M0.95%-53,558Timeline
ACLXARCELLX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 21,177 shares; 2024Q4: 84,377 shares; 2025Q1: 50,000 shares 50,000$3.28M0.92%-34,377Timeline
ZNTLZENTALIS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,108,095 shares; 2024Q4: 2,338,095 shares; 2025Q1: 2,019,762 shares 2,019,762$3.21M0.9%-318,333Timeline
AURAAURA BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 515,555 shares; 2024Q4: 515,555 shares; 2025Q1: 515,555 shares 515,555$3.02M0.85%0Timeline
BNTXBIONTECH SEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 40,000 shares; 2025Q1: 20,000 shares 20,000$1.82M0.51%-20,000Timeline
EQEQUILLIUM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,447,308 shares; 2024Q4: 4,447,308 shares; 2025Q1: 4,447,308 shares 4,447,308$1.74M0.49%0Timeline
FDMT4D MOLECULAR THERAPEUTICS INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 397,835 shares; 2024Q4: 400,000 shares; 2025Q1: 335,515 shares 335,515$1.08M0.3%-64,485Timeline
ILMNILLUMINA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 94,767 shares; 2024Q4: 94,767 shares; 2025Q1: 11,749 shares 11,749$932K0.26%-83,018Timeline
PYXSPYXIS ONCOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 326,810 shares; 2024Q4: 326,810 shares; 2025Q1: 326,810 shares 326,810$320K0.09%0Timeline
GRALGRAIL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 9,684 shares; 2024Q4: 9,684 shares; 2025Q1: 9,684 shares 9,684$247K0.07%0Timeline
VERAVERA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 69,767 shares; 2024Q4: 49,767 shares; 2025Q1: 4,495 shares 4,495$108K0.03%-45,272Timeline
NUVATION BIO INCNUVATION BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 646,057 shares; 2024Q4: 646,057 shares; 2025Q1: 646,057 shares 646,057$44K0.01%0

Sold out in Q1 2025

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

SecurityShares beforeValue beforeType
PHATPHATHOM PHARMACEUTICALS INC694,254$5.64Mshares
ATRCATRICURE INC26,797$819Kshares

How Q1 2025 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 0001104659-25-045686 base2025-05-08acceptance time not in the bulk data set