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Asset Manager ← All Institutions

BAKER BROS. ADVISORS LP

Q3 2025 · Filed 2025-11-14
Market Value
$13.6B
+33.9%
Holdings
90
-1
New Purchases
10
Added To
13
Closed
9
Reduced
4
Top 10 Concentration
80.3%
Turnover
21.1%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
CELC 2.87% 0.72% +2.15% $391M
KOD 2.08% 0.63% +1.45% $283M
MDGL 7.21% 5.88% +1.33% $982M
ONC 22.00% 20.94% +1.06% $3.0B
RYTM 4.15% 3.48% +0.67% $566M
ABVX 0.55% 0.00% +0.55% $74M
STOK 0.80% 0.52% +0.28% $109M
ARWR 0.42% 0.15% +0.28% $58M
RAPP 0.34% 0.06% +0.28% $46M
IONS 0.27% 0.00% +0.27% $37M
IMTX 0.76% 0.54% +0.22% $103M
IDYA 0.65% 0.44% +0.22% $89M
RNAM 0.20% 0.00% +0.20% $27M
NTLA 0.35% 0.25% +0.10% $47M
MRUS 0.40% 0.30% +0.10% $54M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ACAD 6.72% 9.10% -2.38% $915M
SMMT 5.11% 7.05% -1.94% $697M
INCY 19.14% 20.58% -1.44% $2.6B
REPL 0.34% 1.01% -0.67% $46M
INSM 7.09% 7.63% -0.55% $965M
RARE 0.61% 0.99% -0.38% $83M
IMVT 0.65% 0.86% -0.21% $88M
VRNA 0.00% 0.21% -0.21% $0
GPCR 0.32% 0.51% -0.19% $44M
VERV 0.00% 0.19% -0.19% $0
NRIX 0.26% 0.43% -0.17% $36M
BPMC 0.00% 0.16% -0.16% $0
RVMD 3.24% 3.39% -0.15% $442M
BCYC 0.62% 0.74% -0.13% $84M
BNTX 0.27% 0.39% -0.12% $36M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 13 $8.9B 65.6%
Mid Cap 30 $3.4B 25.1%
Small Cap 34 $1.2B 8.8%
Micro Cap 13 $80M 0.6%

Portfolio Analytics

Avg Market Cap
$5.7B
Median Market Cap
$1.9B
Avg P/E
36.3
Median P/E
26.8
Avg Dividend Yield
—%
Avg Beta
0.98
# Stocks
90
# ETFs / Funds
0

Top Holdings (90 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 ONC 22.00% 8,799,053 $3.0B $340.70 $868M
2 INCY 19.14% 30,743,663 $2.6B $84.81 $514M +388
3 MDGL 7.21% 2,141,701 $982M $458.66 $384M +165,683 +8.4%
4 INSM 7.09% 6,703,484 $965M $144.01 $189M -1,009,416 -13.1%
5 ACAD 6.72% 42,896,690 $915M $21.34 -$10M
6 SMMT 5.11% 33,722,974 $697M $20.66 -$21M
7 RYTM 4.15% 5,604,483 $566M $100.99 $212M
8 RVMD 3.24% 9,455,357 $442M $46.70 $97M +90,385 +1.0%
9 CELC 2.87% 7,915,792 $391M $49.40 $318M +2,465,347 +45.2%
10 KYMR 2.76% 6,651,429 $376M $56.60 $86M
11 KOD 2.08% 17,310,490 $283M $16.37 $219M
12 ALKS 1.78% 8,091,351 $243M $30.00 $59M +1,680,748 +26.2%
13 ABCL 1.02% 27,525,640 $138M $5.03 $44M
14 EWTX 0.87% 7,305,940 $119M $16.22 $23M
15 STOK 0.80% 4,633,838 $109M $23.50 $56M
16 IMTX 0.76% 12,094,094 $103M $8.52 $48M +1,925,193 +18.9%
17 GRAL 0.71% 1,630,125 $96M $59.13 $13M
18 IDYA 0.65% 3,275,444 $89M $27.21 $45M +1,156,716 +54.6%
19 IMVT 0.65% 5,457,881 $88M $16.12 $655K
20 IMCR 0.62% 2,322,656 $84M $36.33 $11M
21 BCYC 0.62% 10,885,357 $84M $7.74 $9M
22 RARE 0.61% 2,772,692 $83M $30.08 -$17M
23 ABVX 0.55% 875,796 $74M $84.90 +875,796 NEW
24 ARWR 0.42% 1,670,762 $58M $34.49 $43M +731,588 +77.9%
25 ROIV 0.42% 3,767,773 $57M $15.13 $15M
26 DNLI 0.40% 3,731,695 $54M $14.52 $2M
27 MRUS 0.40% 574,377 $54M $94.15 $24M
28 NTLA 0.35% 2,746,674 $47M $17.27 $22M +71,000 +2.6%
29 REPL 0.34% 11,045,336 $46M $4.19 -$56M
30 RAPP 0.34% 1,547,090 $46M $29.70 $40M +997,000 +181.2%
31 GPCR 0.32% 1,556,109 $44M $28.00 -$8M -952,658 -38.0%
32 VRDN 0.28% 1,744,406 $38M $21.58 $13M
33 IONS 0.27% 566,798 $37M $65.42 +566,798 NEW
34 GLUE 0.27% 4,916,095 $36M $7.41 $14M
35 BNTX 0.27% 368,923 $36M $98.62 -$3M
36 NRIX 0.26% 3,882,125 $36M $9.24 -$8M
37 DNTH 0.23% 789,759 $31M $39.35 $16M
38 TRDA 0.21% 4,865,819 $28M $5.80 -$4M
39 ARGX 0.20% 37,760 $28M $737.56 $7M
40 RNAM 0.20% 625,000 $27M $43.57 +625,000 NEW
41 PCVX 0.17% 640,885 $23M $36.02 $2M
42 IRON 0.16% 337,050 $22M $66.08 $4M
43 CDTX 0.16% 227,272 $22M $95.76 $11M
44 CLDX 0.13% 665,370 $17M $25.87 $4M
45 NGNE 0.13% 991,691 $17M $17.33 $2M
46 SERA 0.12% 5,498,170 $17M $3.06 $2M
47 SYRE 0.12% 1,000,000 $17M $16.76 $7M +373,297 +59.6%
48 CERS 0.12% 10,008,345 $16M $1.59 -$2M -2,875,499 -22.3%
49 AKRO 0.11% 324,630 $15M $47.48 -$2M
50 XENE 0.11% 370,208 $15M $40.15 $3M
51 PRLD 0.11% 10,123,824 $15M $1.44 $6M
52 ACLX 0.10% 166,825 $14M $82.10 $3M
53 CTMX 0.10% 4,250,826 $14M $3.19 $6M +766,600 +22.0%
54 TSHA 0.10% 4,004,756 $13M $3.27 $4M
55 XNCR 0.09% 1,102,106 $13M $11.73 $8M +431,675 +64.4%
56 DSGN 0.09% 1,712,882 $13M $7.53 $7M
57 NUVL 0.09% 143,937 $12M $86.48 $1M
58 SION 0.09% 400,000 $12M $29.41 $5M
59 CRNX 0.09% 280,000 $12M $41.65 $4M
60 VKTX 0.07% 366,083 $10M $26.28 +366,083 NEW
61 PHVS 0.07% 375,000 $9M $24.95 +375,000 NEW
62 AGIO 0.06% 189,866 $8M $40.14 $1M
63 SANA 0.05% 2,030,949 $7M $3.55 $2M
64 SGMT 0.05% 952,996 $7M $6.86 -$724K
65 ALMS 0.05% 1,562,500 $6M $3.99 $2M
66 RLAY 0.04% 1,160,117 $6M $5.22 $2M
67 HRTX 0.04% 4,251,951 $5M $1.26 +4,251,951 NEW
68 TCRX 0.04% 2,784,792 $5M $1.82 $1M
69 MBX 0.04% 277,777 $5M $17.50 +277,777 NEW
70 VTYX 0.02% 1,023,130 $3M $3.11 +1,023,130 NEW
71 LBRX 0.02% 200,000 $3M $15.79 +200,000 NEW
72 VIR 0.02% 542,539 $3M $5.71 $364K
73 WVE 0.02% 344,063 $3M $7.32 $282K
74 ELVN 0.02% 114,833 $2M $20.47 $47K
75 TARA 0.02% 536,832 $2M $4.35 $709K
76 TECX 0.01% 100,000 $2M $15.69 -$418K
77 GBIO 0.01% 194,493 $1M $6.12 +194,493 NEW
78 CTNM 0.01% 77,670 $913K $11.75 -$328K -234,830 -75.2%
79 TYRA —% 10,607 $148K $13.99 $47K
80 ACRV —% 22,809 $41K $1.81 $14K
81 SRZNW —% 833,333 $15K $0.02 -$250
82 BPMC —% -$16M -125,538 -100.0% SOLD
83 HOOK —% -$1M -812,814 -100.0% SOLD
84 VERV —% -$19M -1,691,530 -100.0% SOLD
85 VRNA —% -$21M -223,843 -100.0% SOLD
86 RCKT —% -$1M -552,079 -100.0% SOLD
87 CADL —% -$2M -355,112 -100.0% SOLD
88 FATE —% -$3M -2,485,018 -100.0% SOLD
89 IGMS —% -$5M -4,096,210 -100.0% SOLD
90 NMRA —% -$759K -1,034,600 -100.0% SOLD

New Positions

SymbolValue% Port
ABVX $74M 0.55%
IONS $37M 0.27%
RNAM $27M 0.20%
VKTX $10M 0.07%
PHVS $9M 0.07%
HRTX $5M 0.04%
MBX $5M 0.04%
VTYX $3M 0.02%
LBRX $3M 0.02%
GBIO $1M 0.01%

Sold Out Positions

SymbolValue% Port
FATE —%
CADL —%
RCKT —%
NMRA —%
HOOK —%
IGMS —%
BPMC —%
VERV —%
VRNA —%
View SEC EDGAR Filings for BAKER BROS. ADVISORS LP →

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