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Livermore
Livermore
ZHEN

Perceptive Advisors LLC

SEC CIK
0001224962
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
112
+21 vs. Q3 2025
Portfolio value
$5.46B
+$2.00B (+57.7%) vs. Q3 2025
Filed
Feb 17, 2026
SEC
Holdings of Perceptive Advisors LLC in Q4 2025
SecurityClassSharesValue% of portfolioShare changeActionHistory
Surrozen, Inc.86889P117*W EXP 08/01/203166,666$3.33K<0.1%00.0%Unchanged–
ENSCEnsysce Biosciences, Inc.COM NEW86,666$79.7K<0.1%00.0%UnchangedHistory
RVMDWRevolution Medicines, Inc.*W EXP 12/17/202250,000$235.0K<0.1%00.0%UnchangedHistory
IOVAIovance Biotherapeutics, Inc.COM152,714$416.9K<0.1%+152,714NewHistory
NVNOenVVeno Medical CorpCOMMON STOCK1,759,035$564.3K<0.1%00.0%UnchangedHistory
BDSXBiodesix IncCOM108,694$739.1K<0.1%00.0%UnchangedHistory
LENZLENZ Therapeutics, Inc.COM50,000$800.0K<0.1%+50,000NewHistory
PTNPalatin Technologies IncCOM NEW70,000$1.08M<0.1%+70,000NewHistory
MDLNMedline Inc.COM CL A28,000$1.18M<0.1%+28,000NewHistory
CPIXCumberland Pharmaceuticals IncCOM341,087$1.36M<0.1%+341,087NewHistory
LXEOLexeo Therapeutics, Inc.COM139,835$1.39M<0.1%00.0%UnchangedHistory
IMMXImmix Biopharma, Inc.COM338,941$1.77M<0.1%+338,941NewHistory
CNTBConnect Biopharma Holdings LtdSHS792,696$2.24M<0.1%+792,696NewHistory
AVTXAvalo Therapeutics, Inc.COM NEW139,667$2.54M<0.1%00.0%UnchangedHistory
SABSSAB Biotherapeutics, Inc.COM NEW803,210$3.00M0.1%+803,210NewHistory
OMOutset Medical, Inc.COM NEW833,333$3.09M0.1%00.0%UnchangedHistory
SDGRSchrodinger, Inc.COM202,400$3.62M0.1%+202,400NewHistory
OLMAOlema Pharmaceuticals, Inc.COM165,713$4.14M0.1%+165,713NewHistory
COGTCogent Biosciences, Inc.COM121,082$4.30M0.1%+121,082NewHistory
KRYSKrystal Biotech, Inc.COM17,500$4.31M0.1%−17,500−50.0%ReducedHistory
TNGXTango Therapeutics, Inc.COM513,035$4.55M0.1%+513,035NewHistory
AQSTAquestive Therapeutics, Inc.COM747,193$4.83M0.1%−3,012,906−80.1%ReducedHistory
CRVSCorvus Pharmaceuticals, Inc.COM692,441$5.33M0.1%−746,154−51.9%ReducedHistory
TENXTenax Therapeutics, Inc.COM NEW439,142$5.35M0.1%+439,142NewHistory
CBIOCrescent Biopharma, Inc.COM453,686$5.38M0.1%00.0%UnchangedHistory
PEPGPepGen Inc.COM829,870$5.40M0.1%00.0%UnchangedHistory
KYMRKymera Therapeutics, Inc.COM69,935$5.44M0.1%−99,861−58.8%ReducedHistory
BLLNBillionToOne, Inc.CL A72,812$5.96M0.1%+72,812NewHistory
KMTSKestra Medical Technologies, Ltd.SHS285,000$7.56M0.1%+285,000NewHistory
AVRAnteris Technologies Global Corp.COM1,675,476$8.36M0.2%−29,654−1.7%ReducedHistory
IRDOpus Genetics, Inc.COM4,325,000$8.69M0.2%00.0%UnchangedHistory
XENEXenon Pharmaceuticals Inc.COM200,791$9.00M0.2%00.0%UnchangedHistory
MPLTMapLight Therapeutics, Inc.COM550,000$9.66M0.2%+550,000NewHistory
GOSSGossamer Bio, Inc.COM3,139,669$9.73M0.2%−673,128−17.7%ReducedHistory
OCSOculis Holding AGORDINARY SHARES493,827$9.86M0.2%+493,827NewHistory
ADGMAdagio Medical Holdings, Inc.COM9,876,576$10.3M0.2%00.0%UnchangedHistory
IKTInhibikase Therapeutics, Inc.COM NEW5,421,568$11.1M0.2%00.0%UnchangedHistory
SEPNSepterna, Inc.COM433,160$12.1M0.2%−108,290−20.0%ReducedHistory
LONALeonaBio, Inc.COM1,859,322$14.1M0.3%+1,319,026+244.1%AddedHistory
Celcuity Inc.15102KAA8NOTE 2.750% 8/0–$14.1M0.3%–––
SVRASavara IncCOM2,400,000$14.5M0.3%+2,400,000NewHistory
DXCMDexcom IncCOM225,758$15.0M0.3%+225,758NewHistory
GKOSGLAUKOS CorpCOM140,000$15.8M0.3%+140,000NewHistory
RLAYRelay Therapeutics, Inc.COM1,903,245$16.1M0.3%+1,903,245NewHistory
ADMAAdma Biologics, Inc.COM883,468$16.1M0.3%−270,000−23.4%ReducedHistory
GHGuardant Health, Inc.COM160,000$16.3M0.3%+160,000NewHistory
CTNMContineum Therapeutics, Inc.CL A1,464,592$16.7M0.3%+750,000+105.0%AddedHistory
CVSCVS Health CorpStock220,000$17.5M0.3%+220,000NewHistory
BBNXBeta Bionics, Inc.COM602,944$18.4M0.3%+325,000+116.9%AddedHistory
IRTCiRhythm Holdings, Inc.COM108,000$19.2M0.4%−15,000−12.2%ReducedHistory
GRALGRAIL, Inc.COM237,342$20.3M0.4%+237,342NewHistory
RAPPRapport Therapeutics, Inc.COM673,923$20.4M0.4%+270,000+66.8%AddedHistory
MIRMMirum Pharmaceuticals, Inc.COM259,545$20.5M0.4%+259,545NewHistory
OBIOOrchestra BioMed Holdings, Inc.COM5,127,256$21.3M0.4%−165,300−3.1%ReducedHistory
ALDXAldeyra Therapeutics, Inc.COM4,185,632$21.7M0.4%−1,036,679−19.9%ReducedHistory
BIIBBiogen Inc.COM124,000$21.8M0.4%+124,000NewHistory
KODKodiak Sciences Inc.COM848,900$23.7M0.4%+214,323+33.8%AddedHistory
NAUTNautilus Biotechnology, Inc.COM12,594,211$24.6M0.4%00.0%UnchangedHistory
BCRXBiocryst Pharmaceuticals IncCOM3,162,529$24.7M0.5%+3,162,529NewHistory
XFORX4 Pharmaceuticals, IncCOM NEW6,314,452$25.3M0.5%+6,314,452NewHistory
AXGNAxogen, Inc.COM784,140$25.7M0.5%+784,140NewHistory
AXSMAxsome Therapeutics, Inc.COM148,900$27.2M0.5%00.0%UnchangedHistory
PVLAPalvella Therapeutics, Inc.COM266,287$27.9M0.5%−128,806−32.6%ReducedHistory
RAPTRAPT Therapeutics, Inc.COM NEW825,890$28.0M0.5%+642,000+349.1%AddedHistory
PALIPalisade Bio, Inc.COM12,050,000$28.3M0.5%+12,050,000NewHistory
JAZZJazz Pharmaceuticals plcSHS USD170,000$28.9M0.5%+170,000NewHistory
CAICaris Life Sciences, Inc.COM1,136,206$30.7M0.6%+38,043+3.5%AddedHistory
ANROAlto Neuroscience, Inc.COM SHS1,784,393$31.8M0.6%+1,629,027+1,048.5%AddedHistory
PENPenumbra IncCOM110,529$34.4M0.6%−110,018−49.9%ReducedHistory
DRUGBright Minds Biosciences Inc.COM NEW449,290$35.1M0.6%00.0%UnchangedHistory
IRONDisc Medicine, Inc.COM450,743$35.8M0.7%+450,743NewHistory
CDTXCidara Therapeutics, Inc.COM NEW165,131$36.5M0.7%+165,131NewHistory
OMDAOmada Health, Inc.COM2,396,330$37.8M0.7%00.0%UnchangedHistory
CTMXCytomX Therapeutics, Inc.COM9,680,185$41.2M0.8%00.0%UnchangedHistory
ORKAOruka Therapeutics, Inc.COM1,476,501$44.8M0.8%+208,480+16.4%AddedHistory
DHRDanaher CorpStock200,000$45.8M0.8%+200,000NewHistory
NBIXNeurocrine Biosciences IncStock331,050$47.0M0.9%−119,000−26.4%ReducedHistory
SIONSionna Therapeutics, Inc.COM1,179,098$48.5M0.9%00.0%UnchangedHistory
ISRGIntuitive Surgical IncCOM NEW87,919$49.8M0.9%+35,800+68.7%AddedHistory
IMVTImmunovant, Inc.COM1,994,890$50.7M0.9%+407,000+25.6%AddedHistory
RGENRepligen CorpCOM315,541$51.7M0.9%+45,113+16.7%AddedHistory
ENGNenGene Therapeutics Inc.COM5,869,076$53.0M1.0%+3,771,840+179.8%AddedHistory
IVVDInvivyd, Inc.COM21,785,166$53.8M1.0%+21,785,166NewHistory
ABVXAbivax S.A.SPONSORED ADS458,343$61.8M1.1%+69,735+17.9%AddedHistory
BLTEBelite Bio, IncSPONSORED ADS414,239$66.3M1.2%+364,451+732.0%AddedHistory
SLDBSolid Biosciences Inc.COM NEW11,833,539$66.7M1.2%00.0%UnchangedHistory
NRIXNurix Therapeutics, Inc.COM3,555,877$67.5M1.2%+2,139,728+151.1%AddedHistory
DYNDyne Therapeutics, Inc.COM3,478,944$68.0M1.2%+2,938,500+543.7%AddedHistory
CNTACentessa Pharmaceuticals plcSPONSORED ADS2,917,634$73.0M1.3%−183,268−5.9%ReducedHistory
AORTArtivion, Inc.COM1,722,290$78.6M1.4%−297,710−14.7%ReducedHistory
MGTXMeiraGTx Holdings plcCOM10,326,103$82.1M1.5%−2,300,000−18.2%ReducedHistory
ATXSAstria Therapeutics, Inc.COM6,485,420$84.9M1.6%00.0%UnchangedHistory
ZYMEZymeworks Inc.COM3,261,850$85.9M1.6%+1,171,187+56.0%AddedHistory
FOLDAmicus Therapeutics, Inc.COM6,370,851$90.7M1.7%00.0%UnchangedHistory
BSXBoston Scientific CorpStock979,000$93.3M1.7%+669,000+215.8%AddedHistory
VRDNViridian Therapeutics, Inc.COM3,042,703$94.7M1.7%+1,580,303+108.1%AddedHistory
ACLXArcellx, Inc.COMMON STOCK1,466,071$95.6M1.8%−1,002,282−40.6%ReducedHistory
AMLXAmylyx Pharmaceuticals, Inc.COM8,284,882$100.1M1.8%−667,483−7.5%ReducedHistory
SYRESpyre Therapeutics, Inc.COM NEW3,069,225$100.5M1.8%+1,839,780+149.6%AddedHistory
IMTXImmatics N.V.SHS10,383,456$109.0M2.0%+1,000,000+10.7%AddedHistory

Options (4)

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

Option positions of Perceptive Advisors LLC in Q4 2025
SecurityClassPutsCalls
State Street SPDR S&P Biotech ETF78464A870ETF$134.1M–
CAPRCapricor Therapeutics, Inc.COM NEW–$6.99M
BHVNBiohaven Ltd.COM–$5.64M
TECXTectonic Therapeutic, Inc.COM–$5.21M

Sold out since Q3 2025 (14)

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

Positions of Perceptive Advisors LLC sold out since Q3 2025
SecurityClassShares in Q3 2025Value in Q3 2025% of portfolio in Q3 2025History
MRUSMerus N.V.COM1,353,093$127.4M3.7%History
INSMINSMED IncCOM PAR $.01702,130$101.1M2.9%History
VRNAVerona Pharma plcSPONSORED ADS524,088$55.9M1.6%History
AKROAkero Therapeutics, Inc.COM1,135,766$53.9M1.6%History
JANXJanux Therapeutics, Inc.COM292,686$7.15M0.2%History
TEMTempus AI, Inc.CL A85,000$6.86M0.2%History
HTFLHeartflow, Inc.COM150,000$5.05M0.1%History
SCPHscPharmaceuticals Inc.COM583,142$3.31M0.1%History
VKTXViking Therapeutics, Inc.COM105,597$2.78M0.1%History
PYXSPyxis Oncology, Inc.COMMON STOCK1,178,307$2.62M0.1%History
TRIBTrinity Biotech PLCSPONS ADR NEW1,790,000$1.86M0.1%History
LYRALyra Therapeutics, Inc.COM NEW229,382$1.50M<0.1%History
QUREuniQure N.V.SHS20,000$1.17M<0.1%History
APYXApyx Medical CorpCOM150,000$321.0K<0.1%History