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Asset Manager ← All Institutions

PERCEPTIVE ADVISORS LLC

Q4 2025 · Filed 2026-02-17
Market Value
$4.0B
+39.5%
Holdings
106
+25
New Purchases
30
Added To
27
Closed
13
Reduced
20
Top 10 Concentration
41.0%
Turnover
40.6%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
CELC 7.83% 5.06% +2.77% $315M
EXAS 3.03% 0.88% +2.15% $122M
SYRE 2.50% 0.71% +1.78% $101M
BLTE 1.65% 0.13% +1.52% $66M
DYN 1.69% 0.24% +1.45% $68M
ADGI 1.34% 0.00% +1.34% $54M
BSX 2.32% 1.05% +1.27% $93M
VRDN 2.35% 1.09% +1.26% $95M
NRIX 1.68% 0.45% +1.22% $67M
DHR 1.14% 0.00% +1.14% $46M
TVTX 4.06% 3.14% +0.92% $163M
CDTX 0.91% 0.00% +0.91% $36M
IRON 0.89% 0.00% +0.89% $36M
ANRO 0.79% 0.02% +0.77% $32M
JAZZ 0.72% 0.00% +0.72% $29M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ACLX 2.37% 7.02% -4.65% $96M
MRUS 0.00% 4.41% -4.41% $0
INSM 0.00% 3.50% -3.50% $0
RYTM 6.77% 9.99% -3.22% $273M
VRNA 0.00% 1.94% -1.94% $0
AKRO 0.00% 1.87% -1.87% $0
AMLX 2.49% 4.22% -1.73% $100M
MGTX 2.04% 3.60% -1.56% $82M
PEN 0.85% 1.94% -1.08% $34M
NBIX 1.17% 2.19% -1.02% $47M
AORT 1.95% 2.96% -1.01% $79M
OMDA 0.94% 1.84% -0.90% $38M
CNTA 1.81% 2.61% -0.79% $73M
AQST 0.12% 0.73% -0.61% $5M
NUVL 4.16% 4.68% -0.52% $167M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 16 $693M 17.2%
Mid Cap 36 $2.1B 52.3%
Small Cap 36 $1.1B 27.4%
Micro Cap 18 $126M 3.1%

Portfolio Analytics

Avg Market Cap
$9.4B
Median Market Cap
$1.9B
Avg P/E
59.1
Median P/E
39.0
Avg Dividend Yield
0.00%
Avg Beta
1.04
# Stocks
106
# ETFs / Funds
0

Top Holdings (106 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 CELC 7.83% 3,160,200 $315M $99.74 $169M +203,881 +6.9%
2 RYTM 6.77% 2,546,391 $273M $107.04 -$16M -416,558,578 -99.4%
3 ROIV 4.30% 7,985,461 $173M $21.70 $62M +617,000 +8.4%
4 NUVL 4.16% 1,665,105 $167M $100.59 $32M +102,769 +6.6%
5 TVTX 4.06% 4,278,180 $163M $38.21 $73M +483,565 +12.7%
6 EXAS 3.03% 1,200,487 $122M $101.56 $96M +735,000 +157.9%
7 PTGX 2.93% 1,350,425 $118M $87.34 $50M +320,291 +31.1%
8 EWTX 2.75% 4,457,974 $111M $24.82 $49M +662,080 +17.4%
9 IMTX 2.71% 10,383,456 $109M $10.50 $29M +1,000,000 +10.7%
10 SYRE 2.50% 3,069,225 $101M $32.76 $80M +1,839,780 +149.6%
11 AMLX 2.49% 8,284,882 $100M $12.08 -$22M -667,483 -7.5%
12 ACLX 2.37% 1,466,071 $96M $65.20 -$107M -1,002,282 -40.6%
13 VRDN 2.35% 3,042,703 $95M $31.12 $63M +1,580,303 +108.1%
14 BSX 2.32% 979,000 $93M $95.35 $63M +669,000 +215.8%
15 FOLD 2.25% 6,370,851 $91M $14.24 $41M
16 ATXS 2.11% 6,485,420 $85M $13.09 $38M
17 MGTX 2.04% 10,326,103 $82M $7.95 -$22M -2,300,000 -18.2%
18 AORT 1.95% 1,722,290 $79M $45.61 -$7M -297,710 -14.7%
19 CNTA 1.81% 2,917,634 $73M $25.01 -$2M -183,268 -5.9%
20 DYN 1.69% 3,478,944 $68M $19.56 $61M +2,938,500 +543.7%
21 NRIX 1.68% 3,555,877 $67M $18.97 $54M +2,139,728 +151.1%
22 BLTE 1.65% 414,239 $66M $159.96 $63M +364,451 +732.0%
23 ABVX 1.53% 458,343 $62M $134.85 $29M +69,735 +17.9%
24 ADGI 1.34% 21,785,166 $54M $2.47 +21,785,166 NEW
25 RGEN 1.28% 315,541 $52M $163.86 $16M +45,113 +16.7%
26 IMVT 1.26% 1,994,890 $51M $25.42 $25M +407,000 +25.6%
27 ISRG 1.24% 87,919 $50M $566.36 $26M +35,800 +68.7%
28 SION 1.20% 1,179,098 $49M $41.14 $14M
29 NBIX 1.17% 331,050 $47M $141.83 -$16M -119,000 -26.4%
30 DHR 1.14% 200,000 $46M $228.92 +200,000 NEW
31 ORKA 1.11% 1,476,501 $45M $30.31 $20M +208,480 +16.4%
32 CTMX 1.02% 9,680,185 $41M $4.26 $10M
33 OMDA 0.94% 2,396,330 $38M $15.78 -$15M
34 CDTX 0.91% 165,131 $36M $220.89 +165,131 NEW
35 IRON 0.89% 450,743 $36M $79.41 +450,743 NEW
36 PEN 0.85% 110,529 $34M $310.91 -$22M -110,018 -49.9%
37 ANRO 0.79% 1,784,393 $32M $17.80 $31M +1,629,027 +1048.5%
38 CAI 0.76% 1,136,206 $31M $26.98 -$3M +38,043 +3.5%
39 JAZZ 0.72% 170,000 $29M $170.00 +170,000 NEW
40 RAPT 0.69% 825,890 $28M $33.87 $23M +642,000 +349.1%
41 PVLA 0.69% 266,287 $28M $104.67 $3M -128,806 -32.6%
42 AXSM 0.68% 148,900 $27M $182.64 $9M
43 AXGN 0.64% 784,140 $26M $32.73 +784,140 NEW
44 XFOR 0.63% 6,314,452 $25M $4.00 +6,314,452 NEW
45 BCRX 0.61% 3,162,529 $25M $7.80 +3,162,529 NEW
46 NAUT 0.61% 12,594,211 $25M $1.95 $14M
47 KOD 0.59% 848,900 $24M $27.96 $13M +214,323 +33.8%
48 BIIB 0.54% 124,000 $22M $175.99 +124,000 NEW
49 ALDX 0.54% 4,185,632 $22M $5.18 -$6M -1,036,679 -19.9%
50 OBIO 0.53% 5,127,256 $21M $4.15 $8M -165,300 -3.1%
51 MIRM 0.51% 259,545 $21M $78.99 +259,545 NEW
52 RAPP 0.51% 673,923 $20M $30.34 $8M +270,000 +66.8%
53 GRAL 0.50% 237,342 $20M $85.59 +237,342 NEW
54 IRTC 0.48% 108,000 $19M $177.44 -$2M -15,000 -12.2%
55 BBNX 0.46% 602,944 $18M $30.47 $13M +325,000 +116.9%
56 CVS 0.43% 220,000 $17M $79.36 +220,000 NEW
57 CTNM 0.42% 1,464,592 $17M $11.43 $8M +750,000 +105.0%
58 GH 0.41% 160,000 $16M $102.14 +160,000 NEW
59 ADMA 0.40% 883,468 $16M $18.24 -$795K -270,000 -23.4%
60 RLAY 0.40% 1,903,245 $16M $8.46 +1,903,245 NEW
61 GKOS 0.39% 140,000 $16M $112.91 +140,000 NEW
62 DXCM 0.37% 225,758 $15M $66.37 +225,758 NEW
63 SVRA 0.36% 2,400,000 $14M $6.03 +2,400,000 NEW
64 LONA 0.35% 1,859,322 $14M $7.57 $12M +1,319,026 +244.1%
65 SEPN 0.30% 433,160 $12M $27.88 $2M -108,290 -20.0%
66 ADGM 0.26% 9,876,576 $10M $1.04 -$9M
67 GOSS 0.24% 3,139,669 $10M $3.10 -$295K -673,128 -17.6%
68 MPLT 0.24% 550,000 $10M $17.57 +550,000 NEW
69 XENE 0.22% 200,791 $9M $44.82 $938K
70 IRD 0.22% 4,325,000 $9M $2.01 $2M
71 AVR 0.21% 1,675,476 $8M $4.99 $688K -29,654 -1.7%
72 KMTS 0.19% 285,000 $8M $26.52 +285,000 NEW
73 BLLN 0.15% 72,812 $6M $81.84 +72,812 NEW
74 KYMR 0.14% 69,935 $5M $77.81 -$4M -99,861 -58.8%
75 PEPG 0.13% 829,870 $5M $6.51 $2M
76 CRVS 0.13% 692,441 $5M $7.70 -$5M -746,154 -51.9%
77 AQST 0.12% 747,193 $5M $6.46 -$16M -3,012,906 -80.1%
78 TNGX 0.11% 513,035 $5M $8.86 +513,035 NEW
79 KRYS 0.11% 17,500 $4M $246.54 -$2M -17,500 -50.0%
80 COGT 0.11% 121,082 $4M $35.52 +121,082 NEW
81 OLMA 0.10% 165,713 $4M $25.00 +165,713 NEW
82 SDGR 0.09% 202,400 $4M $17.88 +202,400 NEW
83 OM 0.08% 833,333 $3M $3.71 -$9M
84 CNTB 0.06% 792,696 $2M $2.82 +792,696 NEW
85 IMMX 0.04% 338,941 $2M $5.23 +338,941 NEW
86 LXEO 0.03% 139,835 $1M $9.93 $460K
87 CPIX 0.03% 341,087 $1M $3.98 +341,087 NEW
88 MDLN 0.03% 28,000 $1M $42.00 +28,000 NEW
89 LENZ 0.02% 50,000 $800K $16.00 +50,000 NEW
90 BDSX 0.02% 108,694 $739K $6.80 -$82K
91 NVNO 0.01% 1,759,035 $564K $0.32 -$1M
92 IOVA 0.01% 152,714 $417K $2.73 +152,714 NEW
93 SRZNW —% 166,666 $3K $0.02 $366
94 INSM —% -$101M -702,130 -100.0% SOLD
95 QURE —% -$1M -20,000 -100.0% SOLD
96 TEM —% -$7M -85,000 -100.0% SOLD
97 APYX —% -$321K -150,000 -100.0% SOLD
98 MRUS —% -$127M -1,353,093 -100.0% SOLD
99 AKRO —% -$54M -1,135,766 -100.0% SOLD
100 PYXS —% -$3M -1,178,307 -100.0% SOLD

Options Breakdown

2 Calls $12M Call Value 2 Puts $134M Put Value 10.99 P/C Ratio

Top Calls

SymbolSharesValueStatus
CAPR 242,100 $7M NEW
TECX 250,000 $5M NEW

Top Puts

SymbolSharesValueStatus
XBI 1,100,000 $134M NEW
SPRY $0 SOLD

New Positions

SymbolValue% Port
ADGI $54M 1.34%
DHR $46M 1.14%
CDTX $36M 0.91%
IRON $36M 0.89%
JAZZ $29M 0.72%
AXGN $26M 0.64%
XFOR $25M 0.63%
BCRX $25M 0.61%
BIIB $22M 0.54%
MIRM $21M 0.51%
GRAL $20M 0.50%
CVS $17M 0.43%
GH $16M 0.41%
RLAY $16M 0.40%
GKOS $16M 0.39%

Sold Out Positions

SymbolValue% Port
JANX —%
APYX —%
HTFL —%
VKTX —%
TEM —%
INSM —%
QURE —%
PYXS —%
AKRO —%
MRUS —%
LYRA —%
VRNA —%
SCPH —%
View SEC EDGAR Filings for PERCEPTIVE ADVISORS LLC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms