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

RTW INVESTMENTS, LP

Q2 2025 · Filed 2025-08-14
Market Value
$6.9B
+6.9%
Holdings
71
-5
New Purchases
9
Added To
25
Closed
5
Reduced
7
Top 10 Concentration
51.2%
Turnover
19.7%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
NBIX 1.95% 0.00% +1.95% $133M
VRNA 4.21% 2.82% +1.39% $289M
ZLAB 2.83% 1.77% +1.06% $194M
DGX 1.31% 0.26% +1.05% $90M
INSM 4.53% 3.59% +0.94% $310M
ABT 0.88% 0.00% +0.88% $60M
NTRA 6.40% 5.72% +0.67% $438M
GH 0.65% 0.00% +0.65% $45M
ACAD 2.83% 2.21% +0.62% $194M
MLTX 0.51% 0.00% +0.51% $35M
RDNT 2.23% 1.80% +0.44% $153M
TSHA 0.84% 0.41% +0.44% $58M
QURE 1.05% 0.71% +0.34% $72M
MRUS 3.07% 2.74% +0.33% $210M
PTGX 4.64% 4.32% +0.33% $318M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AXSM 2.31% 5.32% -3.01% $158M
ALKS 1.96% 3.55% -1.59% $134M
MDGL 8.81% 10.30% -1.50% $603M
GMED 0.00% 1.28% -1.28% $0
RCKT 0.63% 1.84% -1.21% $43M
TARS 1.84% 2.66% -0.82% $126M
ARGX 5.42% 6.22% -0.80% $371M
PTCT 5.52% 5.95% -0.43% $378M
AKRO 4.27% 4.69% -0.42% $292M
CYTK 1.31% 1.71% -0.39% $90M
ARVN 0.00% 0.37% -0.37% $0
PEN 3.23% 3.60% -0.37% $222M
GKOS 0.00% 0.29% -0.29% $0
OBIO 0.32% 0.55% -0.22% $22M
CRGX 0.07% 0.26% -0.19% $5M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 16 $3.4B 49.4%
Mid Cap 23 $2.6B 37.8%
Small Cap 26 $807M 11.8%
Micro Cap 6 $70M 1.0%

Portfolio Analytics

Avg Market Cap
$12.4B
Median Market Cap
$2.3B
Avg P/E
40.7
Median P/E
30.3
Avg Dividend Yield
0.00%
Avg Beta
0.98
# Stocks
71
# ETFs / Funds
0

Top Holdings (71 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 MDGL 8.81% 1,993,687 $603M $302.64 -$57M
2 NTRA 6.40% 2,593,645 $438M $168.94 $71M +99
3 PTCT 5.52% 7,746,415 $378M $48.84 -$3M +263,288 +3.5%
4 ARGX 5.42% 673,497 $371M $551.22 -$27M
5 PTGX 4.64% 5,756,277 $318M $55.27 $42M +36,862 +0.6%
6 INSM 4.53% 3,084,558 $310M $100.64 $80M +70,000 +2.3%
7 AKRO 4.27% 5,477,561 $292M $53.36 -$8M -1,941,779 -26.2%
8 VRNA 4.21% 3,051,878 $289M $94.58 $108M +203,078 +7.1%
9 RNAM 3.99% 9,618,845 $273M $28.40 $15M +871,919 +10.0%
10 SYK 3.41% 590,517 $234M $395.63 $14M +296 +0.1%
11 PEN 3.23% 863,553 $222M $256.63 -$9M +783 +0.1%
12 MRUS 3.07% 4,000,553 $210M $52.60 $35M -168,840 -4.0%
13 ACAD 2.83% 8,995,547 $194M $21.57 $52M +455,430 +5.3%
14 ZLAB 2.83% 5,536,876 $194M $34.97 $80M +2,400,196 +76.5%
15 AXSM 2.31% 1,516,903 $158M $104.39 -$183M -1,405,826 -48.1%
16 RDNT 2.23% 2,690,344 $153M $56.91 $38M +372,762 +16.1%
17 IMCR 2.23% 4,869,798 $153M $31.38 $8M
18 ALKS 1.96% 4,682,289 $134M $28.61 -$93M -2,202,409 -32.0%
19 NBIX 1.95% 1,062,072 $133M $125.69 +1,062,072 NEW
20 TARS 1.84% 3,111,680 $126M $40.51 -$44M -204,352 -6.2%
21 MASI 1.68% 683,294 $115M $168.22 $1M
22 ESTA 1.61% 2,584,131 $110M $42.71 $5M +244 +0.0%
23 ISRG 1.61% 202,456 $110M $543.41 $10M
24 CYTK 1.31% 2,721,158 $90M $33.04 -$19M
25 DGX 1.31% 500,000 $90M $179.63 $73M +401,003 +405.1%
26 QURE 1.05% 5,158,231 $72M $13.94 $27M +892,803 +20.9%
27 GHRS 0.99% 5,540,457 $68M $12.19 $7M +40,688 +0.7%
28 URGN 0.91% 4,543,895 $62M $13.70 $20M +709,101 +18.5%
29 RARE 0.91% 1,707,402 $62M $36.36 $256K
30 ABT 0.88% 444,000 $60M $136.01 +444,000 NEW
31 STOK 0.85% 5,123,525 $58M $11.35 $24M
32 TSHA 0.84% 25,021,584 $58M $2.31 $32M +6,233,718 +33.2%
33 SYRE 0.79% 3,621,996 $54M $14.97 -$4M
34 BBNX 0.70% 3,299,191 $48M $14.56 $8M -679 -0.0%
35 GEHC 0.68% 626,000 $46M $74.07 $4M +106,000 +20.4%
36 GH 0.65% 856,501 $45M $52.04 +856,501 NEW
37 CGON 0.65% 1,701,216 $44M $26.00 $3M
38 RCKT 0.63% 17,687,772 $43M $2.45 -$75M
39 IMTX 0.55% 6,970,152 $37M $5.38 $6M +60,642 +0.9%
40 MLTX 0.51% 741,090 $35M $47.20 +741,090 NEW
41 TEM 0.37% 400,000 $25M $63.54 $6M
42 LENZ 0.37% 863,389 $25M $29.31 $3M
43 CMPS 0.34% 8,221,929 $23M $2.80 $7M +2,683,761 +48.5%
44 OBIO 0.32% 8,306,062 $22M $2.68 -$13M +99,900 +1.2%
45 ORKA 0.32% 1,945,649 $22M $11.21 $2M
46 NGNE 0.30% 1,362,456 $20M $14.95 $5M +13,800 +1.0%
47 CNTA 0.29% 1,529,836 $20M $13.14 $19M +1,479,836 +2959.7%
48 ETNB 0.28% 1,967,527 $19M $9.82 $5M
49 REPL 0.28% 2,065,010 $19M $9.29 -$950K
50 XNCR 0.28% 2,402,883 $19M $7.86 -$7M
51 0LOV.L 0.26% 4,251,616 $18M $4.15 -$8M +6,140 +0.1%
52 DYN 0.23% 1,690,567 $16M $9.52 -$2M
53 JBIO 0.21% 1,449,273 $14M $9.99 +1,449,273 NEW
54 CRNX 0.20% 467,000 $13M $28.76 +467,000 NEW
55 CGEM 0.19% 1,705,960 $13M $7.53 -$68K
56 XGN 0.17% 1,696,866 $12M $6.98 $6M +185,000 +12.2%
57 RAPT 0.17% 1,470,499 $12M $8.00 +1,470,499 NEW
58 CRVS 0.16% 2,679,479 $11M $4.00 $2M
59 CTMX 0.11% 3,461,500 $8M $2.27 +3,461,500 NEW
60 WVE 0.09% 900,000 $6M $6.50 -$1M
61 CRGX 0.07% 1,212,562 $5M $4.12 -$12M -2,912,297 -70.6%
62 MIST 0.07% 2,506,102 $5M $1.94 $3M
63 OMDA 0.05% 200,000 $4M $18.30 +200,000 NEW
64 KMTS 0.05% 200,000 $3M $16.58 -$2M
65 CBLL 0.04% 150,000 $3M $18.73 -$72K
66 ADGM —% 209,361 $272K $1.30 $104K
67 GKOS —% -$19M -190,000 -100.0% SOLD
68 ARVN —% -$23M -3,334,308 -100.0% SOLD
69 BIOA —% -$3M -786,353 -100.0% SOLD
70 BEAM —% -$9M -438,659 -100.0% SOLD
71 GMED —% -$82M -1,125,000 -100.0% SOLD

New Positions

SymbolValue% Port
NBIX $133M 1.95%
ABT $60M 0.88%
GH $45M 0.65%
MLTX $35M 0.51%
JBIO $14M 0.21%
CRNX $13M 0.20%
RAPT $12M 0.17%
CTMX $8M 0.11%
OMDA $4M 0.05%

Sold Out Positions

SymbolValue% Port
GMED —%
GKOS —%
ARVN —%
BIOA —%
BEAM —%
View SEC EDGAR Filings for RTW INVESTMENTS, 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