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Asset Manager ← All Institutions

RA CAPITAL MANAGEMENT, L.P.

Q4 2025 · Filed 2026-02-17
Market Value
$6.9B
+22.6%
Holdings
73
+5
New Purchases
16
Added To
12
Closed
17
Reduced
7
Top 10 Concentration
62.7%
Turnover
45.2%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
CDTX 10.75% 5.71% +5.04% $743M
RNAM 9.02% 6.67% +2.34% $623M
WVE 4.48% 2.36% +2.11% $309M
BCRX 1.79% 0.00% +1.79% $123M
TYRA 4.64% 3.03% +1.61% $321M
OLMA 0.94% 0.00% +0.94% $65M
EVMN 0.86% 0.00% +0.86% $59M
NUVL 2.74% 1.91% +0.82% $189M
SYRE 0.77% 0.00% +0.77% $53M
EWTX 3.74% 3.00% +0.74% $259M
LXEO 0.72% 0.00% +0.72% $50M
JBIO 0.82% 0.16% +0.66% $57M
CAPR 0.63% 0.00% +0.63% $44M
GRAL 0.53% 0.00% +0.53% $37M
TSHA 1.87% 1.37% +0.51% $130M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ETNB 0.00% 5.18% -5.18% $0
ACLX 1.20% 4.42% -3.22% $83M
JANX 2.23% 4.85% -2.61% $154M
LENZ 0.97% 3.45% -2.48% $67M
MLYS 3.84% 4.92% -1.08% $266M
DNTH 0.96% 2.00% -1.04% $66M
SRRK 0.00% 0.77% -0.77% $0
GPCR 0.00% 0.75% -0.75% $0
VOR 1.02% 1.71% -0.69% $71M
FULC 0.99% 1.67% -0.68% $68M
MTSR 0.00% 0.63% -0.63% $0
GHRS 1.41% 1.95% -0.54% $97M
TVTX 0.00% 0.49% -0.49% $0
PCVX 7.16% 7.64% -0.48% $495M
LRMR 0.00% 0.35% -0.35% $0

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 3 $637M 9.2%
Mid Cap 21 $2.9B 41.6%
Small Cap 34 $3.0B 43.2%
Micro Cap 15 $415M 6.0%

Portfolio Analytics

Avg Market Cap
$2.7B
Median Market Cap
$1.2B
Avg P/E
25.1
Median P/E
29.7
Avg Dividend Yield
—%
Avg Beta
1.17
# Stocks
73
# ETFs / Funds
0

Top Holdings (73 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 CDTX 10.75% 3,365,523 $743M $220.89 $421M
2 RYTM 10.32% 6,666,837 $714M $107.04 $140M +985,478 +17.4%
3 RNAM 9.02% 8,641,031 $623M $72.13 $247M
4 PCVX 7.16% 10,724,599 $495M $46.14 $64M -1,241,392 -10.4%
5 SION 5.89% 9,905,045 $407M $41.14 $100M -540,277 -5.2%
6 TYRA 4.64% 12,198,625 $321M $26.29 $150M
7 WVE 4.48% 18,203,009 $309M $17.00 $176M +1,000 +0.0%
8 MLYS 3.84% 7,323,750 $266M $36.29 -$12M
9 EWTX 3.74% 10,428,437 $259M $24.81 $90M
10 SEPN 2.82% 6,995,858 $195M $27.88 $63M
11 NUVL 2.74% 1,880,057 $189M $100.59 $81M +633,601 +50.8%
12 IRON 2.27% 1,976,132 $157M $79.41 $53M +399,026 +25.3%
13 JANX 2.23% 11,189,693 $154M $13.80 -$119M
14 PEPG 1.89% 20,064,545 $131M $6.51 $38M
15 TSHA 1.87% 23,555,648 $130M $5.50 $53M
16 SPRY 1.83% 10,860,977 $127M $11.65 $17M
17 BCRX 1.79% 15,827,186 $123M $7.80 +15,827,186 NEW
18 BCAX 1.69% 6,955,993 $117M $16.83 $7M
19 GHRS 1.41% 7,676,697 $97M $12.70 -$12M
20 GERN 1.22% 63,771,366 $84M $1.32 $1M +3,392,000 +5.6%
21 ACLX 1.20% 1,267,156 $83M $65.20 -$167M -1,769,371 -58.3%
22 CLYM 1.12% 11,293,828 $78M $6.88 $15M -20,125,439 -64.0%
23 VOR 1.02% 5,404,998 $71M $13.08 -$26M +3,422,697 +172.7%
24 BLTE 1.00% 432,484 $69M $159.96 $4M -442,516 -50.6%
25 FULC 0.99% 6,053,960 $68M $11.31 -$26M -4,175,139 -40.8%
26 LENZ 0.97% 4,178,823 $67M $16.00 -$128M
27 DNTH 0.96% 1,611,733 $66M $41.21 -$46M -1,255,000 -43.8%
28 OLMA 0.94% 2,600,000 $65M $25.00 +2,600,000 NEW
29 EVMN 0.86% 3,458,770 $59M $17.12 +3,458,770 NEW
30 JBIO 0.82% 3,671,083 $57M $15.43 $47M +2,608,757 +245.6%
31 SYRE 0.77% 1,621,620 $53M $32.76 +1,621,620 NEW
32 LXEO 0.72% 5,000,000 $50M $9.93 +5,000,000 NEW
33 LBRX 0.71% 2,208,604 $49M $22.26 $21M +431,646 +24.3%
34 CAPR 0.63% 1,507,844 $44M $28.86 +1,507,844 NEW
35 FDMT 0.61% 5,653,211 $42M $7.50 $3M +1,090,000 +23.9%
36 ADGI 0.61% 17,119,096 $42M $2.47 $23M
37 ARTV 0.61% 9,853,302 $42M $4.29 $14M
38 GRAL 0.53% 428,266 $37M $85.59 +428,266 NEW
39 ABOS 0.46% 14,932,063 $32M $2.11 $6M
40 CTNM 0.36% 2,179,711 $25M $11.43 -$19K +57,711 +2.7%
41 RZLT 0.31% 9,180,000 $22M $2.36 +9,180,000 NEW
42 ACRV 0.29% 8,340,508 $20M $2.41 $5M
43 NKTX 0.29% 10,805,129 $20M $1.85 -$2M
44 OVID 0.25% 10,714,000 $17M $1.63 +10,714,000 NEW
45 CCCC 0.22% 8,000,000 $15M $1.91 +8,000,000 NEW
46 MDLN 0.20% 335,000 $14M $42.00 +335,000 NEW
47 DSGN 0.20% 1,461,381 $14M $9.38 $10M +985,682 +207.2%
48 INSP 0.19% 141,964 $13M $92.23 $5M +27,063 +23.6%
49 RANI 0.17% 8,500,000 $11M $1.35 +8,500,000 NEW
50 WGS 0.11% 58,044 $8M $130.06 $1M
51 WAY 0.07% 144,400 $5M $32.75 +144,400 NEW
52 HOWL 0.06% 6,681,307 $4M $0.63 -$9M
53 HNGE 0.05% 80,113 $4M $46.45 +80,113 NEW
54 PGNY 0.04% 96,628 $2M $25.68 $402K
55 KIDS 0.03% 109,959 $2M $17.76 +109,959 NEW
56 HCAT 0.03% 793,749 $2M $2.39 +793,749 NEW
57 PRME —% -$17M -3,000,000 -100.0% SOLD
58 QURE —% -$12M -200,000 -100.0% SOLD
59 LRMR —% -$20M -6,045,351 -100.0% SOLD
60 ELDN —% -$9M -3,566,338 -100.0% SOLD
61 TNGX —% -$17M -2,000,000 -100.0% SOLD
62 GKOS —% -$4M -54,180 -100.0% SOLD
63 GPCR —% -$42M -1,517,418 -100.0% SOLD
64 CTMX —% -$8M -2,661,331 -100.0% SOLD
65 MTSR —% -$35M -675,525 -100.0% SOLD
66 ETNB —% -$292M -19,889,683 -100.0% SOLD
67 IFRX —% -$3M -1,973,233 -100.0% SOLD
68 TVTX —% -$27M -1,150,000 -100.0% SOLD
69 SRRK —% -$43M -1,166,788 -100.0% SOLD
70 EVH —% -$5M -579,052 -100.0% SOLD
71 ACET —% -$6M -7,541,000 -100.0% SOLD
72 RCUS —% -$15M -1,136,364 -100.0% SOLD
73 EXAS —% -$3M -54,939 -100.0% SOLD

New Positions

SymbolValue% Port
BCRX $123M 1.79%
OLMA $65M 0.94%
EVMN $59M 0.86%
SYRE $53M 0.77%
LXEO $50M 0.72%
CAPR $44M 0.63%
GRAL $37M 0.53%
RZLT $22M 0.31%
OVID $17M 0.25%
CCCC $15M 0.22%
MDLN $14M 0.20%
RANI $11M 0.17%
WAY $5M 0.07%
HNGE $4M 0.05%
KIDS $2M 0.03%

Sold Out Positions

SymbolValue% Port
PRME —%
RCUS —%
GKOS —%
ACET —%
ELDN —%
GPCR —%
IFRX —%
LRMR —%
EVH —%
CTMX —%
TVTX —%
SRRK —%
TNGX —%
QURE —%
EXAS —%
View SEC EDGAR Filings for RA CAPITAL MANAGEMENT, L.P. →

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