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Livermore
Livermore
ZHEN

Cormorant Asset Management, LP

SEC CIK
0001583977
Latest filing
Aug 14, 2026

The latest 13F from Cormorant Asset Management, LP covers Q2 2026 (filed Aug 14, 2026): 50 long positions worth $1.95B. The top 10 holdings make up 59.2% of the portfolio, and the largest is Praxis Precision Medicines, Inc. (PRAX) at 11.0%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
12
Est. +$232.2M
Added
4
Est. +$34.1M
Reduced
29
Est. −$432.4M
Sold out
8
Est. −$108.5M

Top 5 holdings

Share of this quarter's portfolio value

  1. PRAXPraxis Precision Medicines, Inc.
    11.0%$214.3MHistory
  2. BBOTBridgeBio Oncology Therapeutics, Inc.
    7.0%$136.2MHistory
  3. PBLSParabilis Medicines, Inc.
    6.5%$126.3MHistory
  4. RAPPRapport Therapeutics, Inc.
    5.7%$110.7MHistory
  5. ERASErasca, Inc.
    5.6%$109.9MHistory

Share of portfolio

Top 5 holdings and the other 45 positions, by share of portfolio value

  1. PRAX11.0%
  2. BBOT7.0%
  3. PBLS6.5%
  4. RAPP5.7%
  5. ERAS5.6%
  6. Other 45 positions64.3%

Biggest buys

New and added positions, by estimated amount bought

  1. PBLSParabilis Medicines, Inc.
    +$126.3MNewHistory
  2. CLYMClimb Bio, Inc.
    +$27.5MNewHistory
  3. SYRESpyre Therapeutics, Inc.
    +$20.0MNewHistory
  4. DFTXDefinium Therapeutics, Inc.
    +$18.8MNewHistory
  5. BHVNBiohaven Ltd.
    +$12.6MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. PBLSParabilis Medicines, Inc.
    +6.47 pp0.0% → 6.5%History
  2. CLYMClimb Bio, Inc.
    +1.41 pp0.0% → 1.4%History
  3. ANLAdlai Nortye Group Ltd.
    +1.33 pp1.0% → 2.3%History
  4. BHVNBiohaven Ltd.
    +1.24 pp0.8% → 2.0%History
  5. SYRESpyre Therapeutics, Inc.
    +1.02 pp0.0% → 1.0%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. PRAXPraxis Precision Medicines, Inc.
    −$82.2MReducedHistory
  2. CNTACentessa Pharmaceuticals plc
    −$41.7MSold outHistory
  3. MBXMBX Biosciences, Inc.
    −$31.5MReducedHistory
  4. EWTXEdgewise Therapeutics, Inc.
    −$30.5MReducedHistory
  5. MLTXMoonLake Immunotherapeutics
    −$24.8MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. PRAXPraxis Precision Medicines, Inc.
    −3.40 pp14.4% → 11.0%History
  2. CNTACentessa Pharmaceuticals plc
    −2.10 pp2.1% → 0.0%History
  3. OLMAOlema Pharmaceuticals, Inc.
    −1.55 pp2.9% → 1.4%History
  4. INSMINSMED Inc
    −1.16 pp1.6% → 0.4%History
  5. MAZEMaze Therapeutics, Inc.
    −1.13 pp1.1% → 0.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$1.95B
−$32.2M (−1.6%) vs. prior quarter
Positions
50
+4 vs. prior quarter
Top 10 concentration
59.2%
Top 10 as share of value
Turnover
13.5%
Q2 2026, one quarter
Average holding period
8.1 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $3.47B (Q1 2021)

Q1 2021: $3.47BQ2 2021: $2.56BQ3 2021: $2.46BQ4 2021: $1.68BQ1 2022: $1.30BQ2 2022: $1.29BQ3 2022: $1.42BQ4 2022: $1.49BQ1 2023: $1.52BQ2 2023: $1.76BQ3 2023: $1.71BQ4 2023: $2.09BQ1 2024: $2.27BQ2 2024: $1.72BQ3 2024: $1.89BQ4 2024: $1.82BQ1 2025: $1.32BQ2 2025: $1.34BQ3 2025: $1.45BQ4 2025: $1.76BQ1 2026: $1.98BQ2 2026: $1.95B
Q1 2021Q2 2026
13F filings of Cormorant Asset Management, LP by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 14, 202650$1.95BPRAXBBOTPBLSvs. Q1 2026SEC
Q1 2026May 15, 202646$1.98BPRAXBBOTEYPTvs. Q4 2025SEC
Q4 2025Feb 17, 202632$1.76BPRAXBBOTABVXvs. Q3 2025SEC
Q3 2025Nov 14, 202536$1.45BBBOTABVXEYPTvs. Q2 2025SEC
Q2 2025Aug 14, 202542$1.34BMLTXEYPTBBIOvs. Q1 2025SEC
Q1 2025May 15, 202542$1.32BMLTXEWTXBBIOvs. Q4 2024SEC
Q4 2024Feb 14, 202548$1.82BMLTXPRAXJANXvs. Q3 2024SEC
Q3 2024Nov 14, 202445$1.89BMLTXPCVXACLXvs. Q2 2024SEC
Q2 2024Aug 14, 202447$1.72BMLTXCRBPACLXvs. Q1 2024SEC
Q1 2024May 15, 202456$2.27BMLTXEYPTACLXvs. Q4 2023SEC
Q4 2023Feb 14, 202447$2.09BMLTXAMAMEYPTvs. Q3 2023SEC
Q3 2023Nov 14, 202349$1.71BMLTXBBIOAMAMvs. Q2 2023SEC
Q2 2023Aug 14, 202361$1.76BMLTXAMAMAPLSvs. Q1 2023SEC
Q1 2023May 15, 202372$1.52BRXDXMLTXBMEAvs. Q4 2022SEC
Q4 2022Feb 14, 202372$1.49BRXDXAPLSACLXvs. Q3 2022SEC
Q3 2022Nov 14, 202272$1.42BRXDXAPLSDSGNvs. Q2 2022SEC
Q2 2022Aug 15, 202279$1.29BTPTXDSGNERASvs. Q1 2022SEC
Q1 2022May 16, 202277$1.30BTPTXERASDSGNvs. Q4 2021SEC
Q4 2021Feb 14, 202278$1.68BERASTPTXDSGNvs. Q3 2021SEC
Q3 2021Nov 15, 202188$2.46BERASTPTXAVIRvs. Q2 2021SEC
Q2 2021Aug 16, 2021100$2.56BTPTXAVIRFMTXvs. Q1 2021SEC
Q1 2021May 17, 2021115$3.47BAVIRTPTXDSGN–SEC

13D and 13G filings

Companies where Cormorant Asset Management, LP reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

12 companies, largest stake first.

Companies where Cormorant Asset Management, LP owns 5% or more
CompanyLatest formStakeChangeFirst filedLatest filingFiling
CRBPCorbus Pharmaceuticals Holdings, Inc.13G/A13.36%2.34M shares+0.54 ppfrom 12.82%Mar 18, 20244 filingsDec 15, 2025SEC
BLSMBlossomHill Therapeutics, Inc.13D11.80%3.62M sharesNewAug 13, 20261 filingAug 13, 2026SEC
IBIOiBio, Inc.13G/A9.99%5.12M shares0.00 ppfrom 9.99%Nov 14, 20253 filingsAug 14, 2026SEC
QNCXQuince Therapeutics, Inc.13G9.99%108.0K sharesNewAug 14, 20261 filingAug 14, 2026SEC
DRUGBright Minds Biosciences Inc.13G/A9.17%900.0K shares−0.54 ppfrom 9.71%Oct 22, 20245 filingsAug 14, 2026SEC
EYPTEyePoint, Inc.13G/A8.35%7.00M shares−1.63 ppfrom 9.98%Dec 14, 20234 filingsAug 14, 2026SEC
CRGXCARGO Therapeutics, Inc.13G7.33%3.38M sharesNewMay 15, 20251 filingMay 15, 2025SEC
ANLAdlai Nortye Group Ltd.13G/A6.77%3.98M shares+1.58 ppfrom 5.19%May 15, 20262 filingsAug 14, 2026SEC
CABACabaletta Bio, Inc.13G/A5.95%10.0M shares−3.08 ppfrom 9.03%Feb 16, 202110 filingsAug 14, 2026SEC
RAPPRapport Therapeutics, Inc.13G/A5.56%2.66M shares−0.63 ppfrom 6.19%Jun 20, 20246 filingsAug 14, 2026SEC
BIOABioAge Labs, Inc.13G/A5.38%2.39M shares−1.13 ppfrom 6.51%Feb 14, 20255 filingsAug 14, 2026SEC
AGMBAgomAb Therapeutics NV13G5.01%2.47M sharesNewMay 15, 20261 filingMay 15, 2026SEC

Latest filings

187 filings on file made by Cormorant Asset Management, LP or listing it as a reporting person; the latest 20 are shown.

Schedule 13D and 13G filings by Cormorant Asset Management, LP
CompanyFiled (ET)FormStakeChangeEvent dateFiling
RLYBRallybio CorpAug 14, 20262:05 PM ET13G/A0.00%0 shares−7.56 ppfrom 7.56%Below 5%Jun 30, 2026SEC
RAPPRapport Therapeutics, Inc.Aug 14, 20262:05 PM ET13G/A5.56%2.66M shares−0.63 ppfrom 6.19%Jun 30, 2026SEC
QNCXQuince Therapeutics, Inc.Aug 14, 20262:05 PM ET13G9.99%108.0K sharesNewJun 30, 2026SEC
MLTXMoonLake ImmunotherapeuticsAug 14, 20262:04 PM ET13G/A4.35%3.21M shares−1.90 ppfrom 6.25%Below 5%Jun 30, 2026SEC
IBIOiBio, Inc.Aug 14, 20262:03 PM ET13G/A9.99%5.12M shares0.00 ppfrom 9.99%Jun 30, 2026SEC
EYPTEyePoint, Inc.Aug 14, 20262:02 PM ET13G/A8.35%7.00M shares−1.63 ppfrom 9.98%Jun 30, 2026SEC
DRUGBright Minds Biosciences Inc.Aug 14, 20262:02 PM ET13G/A9.17%900.0K shares−0.54 ppfrom 9.71%Jun 30, 2026SEC
CABACabaletta Bio, Inc.Aug 14, 20262:01 PM ET13G/A5.95%10.0M shares−3.08 ppfrom 9.03%Jun 30, 2026SEC
BIOABioAge Labs, Inc.Aug 14, 20262:01 PM ET13G/A5.38%2.39M shares−1.13 ppfrom 6.51%Jun 30, 2026SEC
ANLAdlai Nortye Group Ltd.Aug 14, 20262:00 PM ET13G/A6.77%3.98M shares+1.58 ppfrom 5.19%Jun 30, 2026SEC
BLSMBlossomHill Therapeutics, Inc.Aug 13, 20264:12 PM ET13D11.80%3.62M sharesNewAug 6, 2026SEC
RLYBRallybio CorpMay 15, 20261:30 PM ET13G7.56%400.0K sharesNewMar 31, 2026SEC
RAPPRapport Therapeutics, Inc.May 15, 20261:28 PM ET13G/A6.19%2.96M shares−0.16 ppfrom 6.35%Mar 31, 2026SEC
MLTXMoonLake ImmunotherapeuticsMay 15, 20261:26 PM ET13G/A6.25%4.48M shares+0.15 ppfrom 6.10%Mar 31, 2026SEC
IBIOiBio, Inc.May 15, 20261:22 PM ET13G/A9.99%3.83M shares0.00 ppfrom 9.99%Mar 31, 2026SEC
CABACabaletta Bio, Inc.May 15, 20261:20 PM ET13G/A9.03%10.5M shares−0.25 ppfrom 9.28%Mar 31, 2026SEC
BIOABioAge Labs, Inc.May 15, 20261:18 PM ET13G/A6.51%2.89M shares+0.82 ppfrom 5.69%Mar 31, 2026SEC
ANLAdlai Nortye Group Ltd.May 15, 20261:16 PM ET13G5.19%2.90M sharesNewMar 31, 2026SEC
AGMBAgomAb Therapeutics NVMay 15, 20261:14 PM ET13G5.01%2.47M sharesNewMar 31, 2026SEC
ENGNenGene Therapeutics Inc.May 15, 20261:12 PM ET13G/A0.00%0 shares−5.97 ppfrom 5.97%Below 5%Mar 31, 2026SEC