— Know what they know.
Not Investment Advice
Asset Manager ← All Institutions

BAKER BROS. ADVISORS LP

Q2 2025 · Filed 2025-08-14
Market Value
$10.2B
+15.1%
Holdings
91
+3
New Purchases
12
Added To
21
Closed
11
Reduced
8
Top 10 Concentration
82.7%
Turnover
25.3%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
INSM 7.63% 4.64% +2.99% $776M
SMMT 7.05% 5.33% +1.72% $718M
ACAD 9.10% 8.06% +1.04% $925M
KYMR 2.85% 1.86% +1.00% $290M
GPCR 0.51% 0.07% +0.44% $52M
GRAL 0.82% 0.47% +0.35% $84M
RARE 0.99% 0.65% +0.35% $101M
BNTX 0.39% 0.05% +0.34% $39M
IDYA 0.44% 0.20% +0.24% $45M
VRDN 0.24% 0.00% +0.24% $24M
ABCL 0.93% 0.69% +0.23% $94M
CELC 0.72% 0.49% +0.23% $73M
RVMD 3.39% 3.18% +0.21% $345M
NTLA 0.25% 0.05% +0.19% $25M
MRUS 0.30% 0.11% +0.19% $30M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ONC 20.94% 27.10% -6.16% $2.1B
MDGL 5.88% 7.40% -1.52% $598M
EWTX 0.94% 1.53% -0.59% $96M
INCY 20.58% 21.06% -0.48% $2.1B
ARGX 0.20% 0.52% -0.32% $21M
BCYC 0.74% 1.05% -0.30% $76M
CRSP 0.00% 0.25% -0.25% $0
REPL 1.01% 1.22% -0.21% $103M
CNTA 0.00% 0.20% -0.20% $0
IMVT 0.86% 1.06% -0.20% $87M
TRDA 0.32% 0.50% -0.18% $33M
TSVT 0.00% 0.14% -0.14% $0
CADL 0.02% 0.16% -0.14% $2M
CERS 0.18% 0.30% -0.13% $18M
BCAX 0.00% 0.12% -0.12% $0

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 12 $6.8B 66.8%
Mid Cap 31 $2.5B 25.0%
Small Cap 33 $751M 7.4%
Micro Cap 15 $77M 0.8%

Portfolio Analytics

Avg Market Cap
$5.5B
Median Market Cap
$1.9B
Avg P/E
36.3
Median P/E
26.8
Avg Dividend Yield
—%
Avg Beta
1.00
# Stocks
91
# ETFs / Funds
0

Top Holdings (91 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 ONC 20.94% 8,799,053 $2.1B $242.07 -$265M
2 INCY 20.58% 30,743,275 $2.1B $68.10 $232M +3,322 +0.0%
3 ACAD 9.10% 42,896,690 $925M $21.57 $213M +18,774 +0.0%
4 INSM 7.63% 7,712,900 $776M $100.64 $366M +2,332,274 +43.4%
5 SMMT 7.05% 33,722,974 $718M $21.28 $246M +9,298,109 +38.1%
6 MDGL 5.88% 1,976,018 $598M $302.64 -$56M +1,428 +0.1%
7 RYTM 3.48% 5,604,483 $354M $63.19 $57M
8 RVMD 3.39% 9,364,972 $345M $36.79 $64M +1,428,000 +18.0%
9 KYMR 2.85% 6,651,429 $290M $43.64 $126M +655,500 +10.9%
10 ALKS 1.80% 6,410,603 $183M $28.61 $35M +1,927,318 +43.0%
11 REPL 1.01% 11,045,336 $103M $9.29 -$5M
12 RARE 0.99% 2,772,692 $101M $36.36 $44M +1,196,578 +75.9%
13 EWTX 0.94% 7,305,940 $96M $13.11 -$40M +1,150,000 +18.7%
14 ABCL 0.93% 27,525,640 $94M $3.43 $33M
15 IMVT 0.86% 5,457,881 $87M $16.00 -$6M
16 GRAL 0.82% 1,630,125 $84M $51.42 $42M
17 BCYC 0.74% 10,885,357 $76M $6.95 -$17M
18 IMCR 0.72% 2,322,656 $73M $31.38 $4M
19 CELC 0.72% 5,450,445 $73M $13.35 $30M +1,192,710 +28.0%
20 KOD 0.63% 17,310,490 $65M $3.73 $16M
21 IMTX 0.54% 10,168,901 $55M $5.38 $22M +2,893,071 +39.8%
22 STOK 0.52% 4,633,838 $53M $11.35 $22M
23 DNLI 0.51% 3,731,695 $52M $13.99 $1M
24 GPCR 0.51% 2,508,767 $52M $20.74 $46M +2,147,202 +593.9%
25 IDYA 0.44% 2,118,728 $45M $21.02 $27M +1,056,605 +99.5%
26 NRIX 0.43% 3,882,125 $44M $11.39 -$2M
27 ROIV 0.42% 3,767,773 $42M $11.27 $4M
28 BNTX 0.39% 368,923 $39M $106.47 $35M +323,892 +719.3%
29 TRDA 0.32% 4,865,819 $33M $6.72 -$11M
30 MRUS 0.30% 574,377 $30M $52.60 $21M +350,877 +157.0%
31 NTLA 0.25% 2,675,674 $25M $9.38 $21M +2,031,558 +315.4%
32 VRDN 0.24% 1,744,406 $24M $13.98 +1,744,406 NEW
33 GLUE 0.22% 4,916,095 $22M $4.51 -$639K
34 VRNA 0.21% 223,843 $21M $94.58 $7M
35 PCVX 0.20% 640,885 $21M $32.51 -$3M
36 ARGX 0.20% 37,760 $21M $551.22 -$25M -40,000 -51.4%
37 VERV 0.19% 1,691,530 $19M $11.23 $11M
38 CERS 0.18% 12,883,844 $18M $1.41 -$9M -6,467,243 -33.4%
39 IRON 0.18% 337,050 $18M $52.96 $14M +260,000 +337.4%
40 AKRO 0.17% 324,630 $17M $53.36 -$5M -224,083 -40.8%
41 BPMC 0.16% 125,538 $16M $128.18 +125,538 NEW
42 SERA 0.15% 5,498,170 $15M $2.77 -$5M
43 ARWR 0.15% 939,174 $15M $15.80 +939,174 NEW
44 NGNE 0.15% 991,691 $15M $14.95 -$3M -494,509 -33.3%
45 DNTH 0.14% 789,759 $15M $18.63 +789,759 NEW
46 CLDX 0.13% 665,370 $14M $20.35 $9M +417,726 +168.7%
47 XENE 0.11% 370,208 $12M $31.30 -$68K +22,800 +6.6%
48 CDTX 0.11% 227,272 $11M $48.71 +227,272 NEW
49 ACLX 0.11% 166,825 $11M $65.85 +166,825 NEW
50 NUVL 0.11% 143,937 $11M $76.30 +143,937 NEW
51 SYRE 0.09% 626,703 $9M $14.97 +626,703 NEW
52 TSHA 0.09% 4,004,756 $9M $2.31 $4M
53 PRLD 0.08% 10,123,824 $8M $0.81 $419K
54 CRNX 0.08% 280,000 $8M $28.76 +280,000 NEW
55 CTMX 0.08% 3,484,226 $8M $2.27 +3,484,226 NEW
56 SGMT 0.07% 952,996 $7M $7.62 $4M
57 SION 0.07% 400,000 $7M $17.35 $3M
58 AGIO 0.06% 189,866 $6M $33.26 +189,866 NEW
59 RAPP 0.06% 550,090 $6M $11.37 +550,090 NEW
60 DSGN 0.06% 1,712,882 $6M $3.37 -$958K -30,843 -1.8%
61 SANA 0.05% 2,030,949 $6M $2.73 $2M
62 XNCR 0.05% 670,431 $5M $7.86 -$2M
63 ALMS 0.05% 1,562,500 $5M $3.00 -$5M
64 IGMS 0.05% 4,096,210 $5M $1.12 -$122K +953 +0.0%
65 TCRX 0.04% 2,784,792 $4M $1.45 $195K
66 RLAY 0.04% 1,160,117 $4M $3.46 $974K
67 FATE 0.03% 2,485,018 $3M $1.12 $209K -773,384 -23.7%
68 VIR 0.03% 542,539 $3M $5.04 -$781K
69 ELVN 0.02% 114,833 $2M $20.06 $44K
70 WVE 0.02% 344,063 $2M $6.50 -$544K
71 TECX 0.02% 100,000 $2M $19.87 $216K
72 CADL 0.02% 355,112 $2M $5.06 -$12M -2,082,077 -85.4%
73 TARA 0.02% 536,832 $2M $3.03 -$660K
74 RCKT 0.01% 552,079 $1M $2.45 -$6M -545,000 -49.7%
75 CTNM 0.01% 312,500 $1M $3.97 -$941K
76 HOOK 0.01% 812,814 $1M $1.26 $142K
77 NMRA 0.01% 1,034,600 $759K $0.73 -$276K
78 TYRA —% 10,607 $102K $9.57 $3K
79 ACRV —% 22,809 $27K $1.19 -$19K
80 SRZNW —% 833,333 $15K $0.02 -$10K
81 BCAX —% -$11M -833,333 -100.0% SOLD
82 TSVT —% -$12M -2,497,526 -100.0% SOLD
83 IPSC —% -$115K -241,684 -100.0% SOLD
84 CRSP —% -$22M -654,099 -100.0% SOLD
85 CMPX —% -$1M -547,498 -100.0% SOLD
86 RGLS —% -$5M -2,694,044 -100.0% SOLD
87 DYN —% -$7M -672,096 -100.0% SOLD
88 PRME —% -$2M -1,028,466 -100.0% SOLD
89 IONS —% -$11M -357,915 -100.0% SOLD
90 CYPH —% -$123K -404,744 -100.0% SOLD
91 CNTA —% -$18M -1,227,178 -100.0% SOLD

New Positions

SymbolValue% Port
VRDN $24M 0.24%
BPMC $16M 0.16%
ARWR $15M 0.15%
DNTH $15M 0.14%
CDTX $11M 0.11%
ACLX $11M 0.11%
NUVL $11M 0.11%
SYRE $9M 0.09%
CRNX $8M 0.08%
CTMX $8M 0.08%
AGIO $6M 0.06%
RAPP $6M 0.06%

Sold Out Positions

SymbolValue% Port
BCAX —%
DYN —%
CNTA —%
CYPH —%
IONS —%
CMPX —%
IPSC —%
PRME —%
CRSP —%
TSVT —%
RGLS —%
View SEC EDGAR Filings for BAKER BROS. ADVISORS LP →

Sign in to InsiderStreet

You'll also get our free weekly newsletter with
smart money signals, market insights, and alpha ideas.
Unsubscribe anytime.

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