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Livermore
Livermore
ZHEN

OrbiMed Advisors LLC

SEC CIK
0001055951
Latest filing
Aug 14, 2026

Holdings in Q4 2025

Holdings as of Dec 31, 2025, filed Feb 17, 2026. Long positions only; changes compare share counts with Q3 2025.

Institution overview
Positions
105
+6 vs. Q3 2025
Portfolio value
$4.89B
+$716.8M (+17.2%) vs. Q3 2025
Filed
Feb 17, 2026
SEC
Holdings of OrbiMed Advisors LLC in Q4 2025
SecurityClassSharesValue% of portfolioShare changeActionHistory
TRAWTraws Pharma, Inc.COM NEW605,531$684.3K<0.1%00.0%UnchangedHistory
MPLTMapLight Therapeutics, Inc.COM56,000$952.0K<0.1%+56,000NewHistory
Cogent Biosciences, Inc.19240QAA0NOTE 1.625%11/1–$1.17M<0.1%–New–
PTCTPTC Therapeutics, Inc.COM23,200$1.76M<0.1%+23,200NewHistory
PTGXProtagonist Therapeutics, IncCOM21,700$1.90M<0.1%+21,700NewHistory
OCULOcular Therapeutix, IncCOM157,300$1.91M<0.1%+157,300NewHistory
VTGNVistagen Therapeutics, Inc.COM3,060,000$2.03M<0.1%00.0%UnchangedHistory
RVMDRevolution Medicines, Inc.COM25,900$2.06M<0.1%+25,900NewHistory
ANROAlto Neuroscience, Inc.COM SHS125,000$2.23M<0.1%−125,000−50.0%ReducedHistory
IMAImageneBio, Inc.COM378,556$2.61M0.1%00.0%UnchangedHistory
CCCCC4 Therapeutics, Inc.COM STK1,404,902$2.68M0.1%−3,830,244−73.2%ReducedHistory
CGEMCullinan Therapeutics, Inc.COM270,006$2.79M0.1%−1,653,849−86.0%ReducedHistory
BCAXBicara Therapeutics Inc.COM209,100$3.52M0.1%+209,100NewHistory
PALIPalisade Bio, Inc.COM1,871,420$4.40M0.1%+1,871,420NewHistory
INSMINSMED IncCOM PAR $.0125,400$4.42M0.1%+11,941+88.7%AddedHistory
NSPRInspireMD, Inc.COM3,133,405$5.58M0.1%+1,000,000+46.9%AddedHistory
PHVSPharvaris N.V.COM205,400$5.70M0.1%+205,400NewHistory
KALVKalVista Pharmaceuticals, Inc.COM382,400$6.18M0.1%+382,400NewHistory
PMVPPMV Pharmaceuticals, Inc.COM4,975,291$6.22M0.1%−1,000,000−16.7%ReducedHistory
QTTBQ32 Bio Inc.COM2,252,987$7.48M0.2%00.0%UnchangedHistory
KNSAKiniksa Pharmaceuticals International, plcORD SHS CL A187,199$7.72M0.2%+187,199NewHistory
JBIOJade Biosciences, Inc.COM NEW531,163$8.20M0.2%00.0%UnchangedHistory
CELCCelcuity Inc.COM85,664$8.54M0.2%+1,644+2.0%AddedHistory
RPTXRepare Therapeutics Inc.COM3,322,488$8.64M0.2%00.0%UnchangedHistory
ACETAdicet Bio, Inc.COM NEW1,027,944$8.66M0.2%+1,027,944NewHistory
WHWKWhitehawk Therapeutics, Inc.COM4,166,000$10.1M0.2%00.0%UnchangedHistory
FOLDAmicus Therapeutics, Inc.COM729,900$10.4M0.2%−915,500−55.6%ReducedHistory
BIOABioAge Labs, Inc.COM790,901$10.5M0.2%00.0%UnchangedHistory
ALMSAlumis Inc.COM1,102,730$10.8M0.2%−823,693−42.8%ReducedHistory
TECXTectonic Therapeutic, Inc.COM574,600$12.0M0.2%+574,600NewHistory
RLMDRelmada Therapeutics, Inc.COM2,610,600$12.6M0.3%+2,610,600NewHistory
TARSTarsus Pharmaceuticals, Inc.COM154,400$12.6M0.3%−43,500−22.0%ReducedHistory
CRBPCorbus Pharmaceuticals Holdings, Inc.COM NEW1,597,287$13.0M0.3%+425,000+36.3%AddedHistory
COGTCogent Biosciences, Inc.COM371,000$13.2M0.3%+371,000NewHistory
BCRXBiocryst Pharmaceuticals IncCOM1,741,800$13.6M0.3%+840,300+93.2%AddedHistory
VIRVir Biotechnology, Inc.COM2,380,715$14.4M0.3%00.0%UnchangedHistory
CTMXCytomX Therapeutics, Inc.COM3,525,650$15.0M0.3%−4,935,850−58.3%ReducedHistory
CARLCarlsmed, Inc.COM1,252,600$15.5M0.3%00.0%UnchangedHistory
KROSKeros Therapeutics, Inc.COM804,212$16.4M0.3%−214,522−21.1%ReducedHistory
DFTXDefinium Therapeutics, Inc.Stock1,226,700$16.4M0.3%+858,876+233.5%AddedHistory
QUREuniQure N.V.SHS737,400$17.6M0.4%+278,900+60.8%AddedHistory
VERAVera Therapeutics, Inc.CL A353,500$17.9M0.4%+353,500NewHistory
BTSGBrightSpring Health Services, Inc.COM488,500$18.3M0.4%+224,700+85.2%AddedHistory
XENEXenon Pharmaceuticals Inc.COM447,200$20.0M0.4%+27,600+6.6%AddedHistory
0000000000Stock6,210,899$20.1M0.4%00.0%Unchanged–
URGNUroGen Pharma Ltd.COM875,487$20.5M0.4%+186,487+27.1%AddedHistory
ADCTADC Therapeutics SASHS5,822,854$20.6M0.4%−84,497−1.4%ReducedHistory
LXEOLexeo Therapeutics, Inc.COM2,125,000$21.1M0.4%+2,125,000NewHistory
AVTXAvalo Therapeutics, Inc.COM NEW1,187,300$21.6M0.4%−162,000−12.0%ReducedHistory
ESPREsperion Therapeutics, Inc.COM5,965,498$22.1M0.5%+5,965,498NewHistory
STTKShattuck Labs, Inc.COM6,306,127$23.0M0.5%00.0%UnchangedHistory
RYTMRhythm Pharmaceuticals, Inc.COM239,800$25.7M0.5%+24,648+11.5%AddedHistory
BRKRBruker CorpCOM555,789$26.2M0.5%+555,789NewHistory
TMOThermo Fisher Scientific Inc.Stock46,500$26.9M0.6%00.0%UnchangedHistory
JANXJanux Therapeutics, Inc.COM1,954,426$27.0M0.6%+188,326+10.7%AddedHistory
PRAXPraxis Precision Medicines, Inc.COM NEW94,500$27.9M0.6%+94,500NewHistory
KRYSKrystal Biotech, Inc.COM119,800$29.5M0.6%+17,055+16.6%AddedHistory
ORICOric Pharmaceuticals, Inc.COM3,641,756$29.8M0.6%00.0%UnchangedHistory
HELPHelus Pharma Inc.COM NEW3,840,500$31.4M0.6%+3,840,500NewHistory
PRLDPrelude Therapeutics IncCOM10,909,256$31.6M0.6%00.0%UnchangedHistory
FBRXForte Biosciences, Inc.COM NEW1,196,955$32.6M0.7%00.0%UnchangedHistory
ELVElevance Health, Inc.Stock99,100$34.7M0.7%+99,100NewHistory
MLYSMineralys Therapeutics, Inc.COM980,400$35.6M0.7%−489,094−33.3%ReducedHistory
EXASExact Sciences CorpCOM351,716$35.7M0.7%−642,900−64.6%ReducedHistory
ASNDAscendis Pharma A/SSPONSORED ADR171,977$36.7M0.8%−19,928−10.4%ReducedHistory
NPCENeuroPace IncCOM2,406,335$37.2M0.8%−207,849−8.0%ReducedHistory
TRVITrevi Therapeutics, Inc.COM3,190,700$39.9M0.8%−117,700−3.6%ReducedHistory
PFEPfizer IncStock1,652,900$41.2M0.8%+1,652,900NewHistory
BMYBristol Myers Squibb CoStock775,000$41.8M0.9%+775,000NewHistory
DYNDyne Therapeutics, Inc.COM2,202,184$43.1M0.9%−112,000−4.8%ReducedHistory
NBIXNeurocrine Biosciences IncStock314,240$44.6M0.9%−39,400−11.1%ReducedHistory
Avidity Biosciences, Inc.05370A108COM619,530$44.7M0.9%−1,019,356−62.2%Reduced–
EYPTEyePoint, Inc.COM NEW2,468,314$45.1M0.9%+672,314+37.4%AddedHistory
AXSMAxsome Therapeutics, Inc.COM253,121$46.2M0.9%−278,679−52.4%ReducedHistory
CRNXCrinetics Pharmaceuticals, Inc.COM999,000$46.5M1.0%−100,000−9.1%ReducedHistory
ROIVRoivant Sciences Ltd.SHS2,190,907$47.5M1.0%−523,891−19.3%ReducedHistory
ABVXAbivax S.A.SPONSORED ADS367,900$49.6M1.0%−12,100−3.2%ReducedHistory
UTHRUnited Therapeutics CorpCOM105,200$51.3M1.0%−9,700−8.4%ReducedHistory
CRVSCorvus Pharmaceuticals, Inc.COM7,165,006$55.2M1.1%00.0%UnchangedHistory
RAPTRAPT Therapeutics, Inc.COM NEW1,642,891$55.6M1.1%+556,273+51.2%AddedHistory
CICigna GroupStock205,000$56.4M1.2%+42,200+25.9%AddedHistory
AVBPArriVent BioPharma, Inc.COM3,027,328$60.9M1.2%00.0%UnchangedHistory
APLSApellis Pharmaceuticals, Inc.COM2,429,868$61.0M1.2%+106,500+4.6%AddedHistory
CGONCG Oncology, Inc.COM1,516,550$63.0M1.3%−210,300−12.2%ReducedHistory
DHRDanaher CorpStock299,800$68.6M1.4%+36,700+13.9%AddedHistory
GPCRStructure Therapeutics Inc.SPONSORED ADS1,161,803$80.8M1.7%+22,503+2.0%AddedHistory
CMPXCompass Therapeutics, Inc.COM15,219,994$81.7M1.7%00.0%UnchangedHistory
NTRANatera, Inc.COM365,800$83.8M1.7%−63,500−14.8%ReducedHistory
CAICaris Life Sciences, Inc.COM3,116,011$84.1M1.7%+81,153+2.7%AddedHistory
IRONDisc Medicine, Inc.COM1,067,550$84.8M1.7%−347,470−24.6%ReducedHistory
TERNTerns Pharmaceuticals, Inc.COM2,153,300$87.0M1.8%−5,409,671−71.5%ReducedHistory
SPRYARS Pharmaceuticals, Inc.COM8,288,510$96.6M2.0%00.0%UnchangedHistory
SYKStryker CorpStock325,000$114.2M2.3%−34,200−9.5%ReducedHistory
ALNYAlnylam Pharmaceuticals, Inc.COM288,800$114.8M2.4%−12,800−4.2%ReducedHistory
ELVNEnliven Therapeutics, Inc.COM7,959,538$122.6M2.5%00.0%UnchangedHistory
ARGXArgenx SESPONSORED ADR146,000$122.8M2.5%−26,300−15.3%ReducedHistory
MBXMBX Biosciences, Inc.COM3,935,203$124.1M2.5%−67,684−1.7%ReducedHistory
SIONSionna Therapeutics, Inc.COM3,561,655$146.5M3.0%−143,304−3.9%ReducedHistory
ISRGIntuitive Surgical IncCOM NEW263,400$149.2M3.1%−23,800−8.3%ReducedHistory
UPBUpstream Bio, Inc.COM5,693,589$154.6M3.2%00.0%UnchangedHistory

Options (2)

Puts and calls in the same filing. Amounts are the market value of the underlying shares, which is what 13F reports.

Option positions of OrbiMed Advisors LLC in Q4 2025
SecurityClassPutsCalls
EWEdwards Lifesciences CorpStock–$12.8M
VTGNVistagen Therapeutics, Inc.COM–$29.9K

Sold out since Q3 2025 (18)

Positions held at the end of Q3 2025 that are gone from this filing.

Positions of OrbiMed Advisors LLC sold out since Q3 2025
SecurityClassShares in Q3 2025Value in Q3 2025% of portfolio in Q3 2025History
SIBNSI-BONE, Inc.COM2,578,979$38.0M0.9%History
SCPHscPharmaceuticals Inc.COM6,059,528$34.4M0.8%History
ITGRInteger Holdings CorpCOM290,000$30.0M0.7%History
AKROAkero Therapeutics, Inc.COM526,200$25.0M0.6%History
AMLXAmylyx Pharmaceuticals, Inc.COM750,600$10.2M0.2%History
ACETAdicet Bio, Inc.COM11,447,140$9.27M0.2%History
VSTMVerastem, Inc.COM NEW887,561$7.84M0.2%History
MISTMilestone Pharmaceuticals Inc.COM3,221,828$6.44M0.2%History
IMTXImmatics N.V.SHS466,601$3.98M0.1%History
Celcuity Inc.15102KAA8NOTE 2.750% 8/0–$2.68M0.1%–
ATAIAtai Beckley N.V.SHS347,000$1.84M<0.1%History
KRROKorro Bio, Inc.COM32,400$1.55M<0.1%History
MURAMural Oncology plcORD SHS588,800$1.22M<0.1%History
LYELLyell Immunopharma, Inc.COM NEW51,727$840.0K<0.1%History
KZRKezar Life Sciences, Inc.COM192,700$751.5K<0.1%History
XERSXeris Biopharma Holdings, Inc.COM80,420$654.6K<0.1%History
PASGPassage BIO, Inc.COM59,046$474.1K<0.1%History
DHAIDih Holding US, Inc.CL A1,915,000$358.1K<0.1%History