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RTW INVESTMENTS, LP

Q3 2025 · Filed 2025-11-14
Market Value
$8.0B
+16.7%
Holdings
76
+5
New Purchases
10
Added To
17
Closed
7
Reduced
12
Top 10 Concentration
53.4%
Turnover
22.4%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MDGL 11.44% 8.81% +2.63% $914M
RNAM 6.20% 3.99% +2.21% $496M
QURE 3.23% 1.05% +2.18% $258M
INSM 5.56% 4.53% +1.03% $444M
ARGX 6.22% 5.42% +0.80% $497M
STOK 1.51% 0.85% +0.66% $120M
XNCR 0.91% 0.28% +0.64% $73M
COGT 0.62% 0.00% +0.62% $50M
CYTK 1.87% 1.31% +0.56% $150M
TARS 2.36% 1.84% +0.52% $189M
GH 1.16% 0.65% +0.51% $93M
RDNT 2.68% 2.23% +0.45% $215M
AQST 0.44% 0.00% +0.44% $35M
PTCT 5.95% 5.52% +0.43% $475M
CNTA 0.70% 0.29% +0.40% $56M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
VRNA 0.00% 4.21% -4.21% $0
NTRA 4.03% 6.40% -2.37% $322M
ZLAB 0.97% 2.83% -1.85% $78M
ALKS 0.63% 1.96% -1.33% $50M
SYK 2.27% 3.41% -1.14% $181M
AKRO 3.25% 4.27% -1.01% $260M
ACAD 1.91% 2.83% -0.92% $152M
ABT 0.00% 0.88% -0.88% $0
DGX 0.60% 1.31% -0.71% $48M
MRUS 2.39% 3.07% -0.69% $191M
AXSM 1.70% 2.31% -0.61% $136M
MLTX 0.00% 0.51% -0.51% $0
PEN 2.75% 3.23% -0.49% $220M
ISRG 1.13% 1.61% -0.47% $91M
MASI 1.26% 1.68% -0.42% $101M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 15 $3.6B 45.3%
Mid Cap 25 $2.9B 36.0%
Small Cap 25 $1.4B 17.0%
Micro Cap 11 $134M 1.7%

Portfolio Analytics

Avg Market Cap
$11.6B
Median Market Cap
$2.2B
Avg P/E
42.6
Median P/E
36.3
Avg Dividend Yield
0.00%
Avg Beta
0.92
# Stocks
76
# ETFs / Funds
0

Top Holdings (76 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 MDGL 11.44% 1,993,687 $914M $458.66 $311M
2 ARGX 6.22% 673,497 $497M $737.56 $125M
3 RNAM 6.20% 11,372,829 $496M $43.57 $222M +1,753,984 +18.2%
4 PTCT 5.95% 7,746,415 $475M $61.37 $97M
5 INSM 5.56% 3,084,558 $444M $144.01 $134M
6 PTGX 4.78% 5,756,277 $382M $66.43 $64M
7 NTRA 4.03% 2,000,000 $322M $160.97 -$116M -593,645 -22.9%
8 AKRO 3.25% 5,477,561 $260M $47.48 -$32M
9 QURE 3.23% 4,424,968 $258M $58.37 $186M -733,263 -14.2%
10 PEN 2.75% 866,499 $220M $253.32 -$2M +2,946 +0.3%
11 RDNT 2.68% 2,815,544 $215M $76.21 $61M +125,200 +4.7%
12 MRUS 2.39% 2,025,277 $191M $94.15 -$20M -1,975,276 -49.4%
13 TARS 2.36% 3,177,436 $189M $59.43 $63M +65,756 +2.1%
14 SYK 2.27% 490,000 $181M $369.67 -$52M -100,517 -17.0%
15 IMCR 2.21% 4,869,798 $177M $36.33 $24M
16 ACAD 1.91% 7,144,524 $152M $21.34 -$42M -1,851,023 -20.6%
17 CYTK 1.87% 2,721,158 $150M $54.96 $60M
18 NBIX 1.87% 1,062,072 $149M $140.38 $16M
19 AXSM 1.70% 1,118,883 $136M $121.45 -$22M -398,020 -26.2%
20 STOK 1.51% 5,123,525 $120M $23.50 $62M
21 ESTA 1.33% 2,588,831 $106M $40.99 -$4M +4,700 +0.2%
22 MASI 1.26% 683,294 $101M $147.55 -$14M
23 RARE 1.23% 3,258,266 $98M $30.08 $36M +1,550,864 +90.8%
24 GH 1.16% 1,481,033 $93M $62.48 $48M +624,532 +72.9%
25 URGN 1.13% 4,543,895 $91M $19.95 $28M
26 ISRG 1.13% 202,456 $91M $447.23 -$19M
27 GHRS 1.00% 5,569,564 $80M $14.30 $12M +29,107 +0.5%
28 TSHA 1.00% 24,354,291 $80M $3.27 $22M -667,293 -2.7%
29 ZLAB 0.97% 2,291,372 $78M $33.89 -$116M -3,245,504 -58.6%
30 IMTX 0.94% 8,815,617 $75M $8.52 $38M +1,845,465 +26.5%
31 XNCR 0.91% 6,221,054 $73M $11.73 $54M +3,818,171 +158.9%
32 CGON 0.86% 1,701,216 $69M $40.28 $24M
33 BBNX 0.82% 3,299,191 $66M $19.87 $18M
34 SYRE 0.76% 3,621,996 $61M $16.76 $6M
35 RCKT 0.72% 17,687,772 $58M $3.26 $14M
36 CNTA 0.70% 2,291,747 $56M $24.25 $35M +761,911 +49.8%
37 ALKS 0.63% 1,672,356 $50M $30.00 -$84M -3,009,933 -64.3%
38 CMPS 0.62% 8,707,390 $50M $5.73 $27M +485,461 +5.9%
39 COGT 0.62% 3,467,486 $50M $14.36 +3,467,486 NEW
40 0LOV.L 0.60% 5,426,306 $48M $8.83 $30M +1,174,690 +27.6%
41 DGX 0.60% 250,000 $48M $190.58 -$42M -250,000 -50.0%
42 LENZ 0.50% 863,389 $40M $46.58 $15M
43 RAPT 0.47% 1,470,499 $38M $25.79 $26M
44 ORKA 0.47% 1,945,649 $37M $19.23 $16M
45 DYN 0.46% 2,890,567 $37M $12.65 $20M +1,200,000 +71.0%
46 CRNX 0.45% 872,387 $36M $41.65 $23M +405,387 +86.8%
47 AQST 0.44% 6,250,000 $35M $5.59 +6,250,000 NEW
48 ABVX 0.37% 350,000 $30M $84.90 +350,000 NEW
49 GEHC 0.37% 393,500 $30M $75.10 -$17M -232,500 -37.1%
50 REPL 0.34% 6,395,732 $27M $4.19 $8M +4,330,722 +209.7%
51 NGNE 0.30% 1,362,456 $24M $17.33 $3M
52 BLTE 0.29% 312,500 $23M $74.00 +312,500 NEW
53 ALEC 0.26% 6,990,806 $21M $2.96 +6,990,806 NEW
54 OBIO 0.26% 8,306,063 $21M $2.48 -$2M +1
55 CRVS 0.25% 2,679,479 $20M $7.37 $9M
56 XGN 0.23% 1,696,866 $19M $10.99 $7M
57 HTFL 0.21% 495,000 $17M $33.66 +495,000 NEW
58 TEM 0.20% 200,000 $16M $80.71 -$9M -200,000 -50.0%
59 JBIO 0.16% 1,449,273 $13M $8.63 -$2M
60 CTMX 0.14% 3,461,500 $11M $3.19 $3M
61 CGEM 0.13% 1,705,960 $10M $5.93 -$3M
62 LRMR 0.13% 3,125,000 $10M $3.23 +3,125,000 NEW
63 CMPX 0.11% 2,500,000 $9M $3.50 +2,500,000 NEW
64 PEPG 0.09% 1,500,000 $7M $4.62 +1,500,000 NEW
65 WVE 0.08% 900,000 $7M $7.32 $738K
66 MIST 0.06% 2,506,102 $5M $2.00 $150K
67 OMDA 0.06% 200,000 $4M $22.11 $762K
68 IMA 0.03% 334,445 $3M $8.15 +334,445 NEW
69 ADGM 0.01% 209,361 $406K $1.94 $134K
70 KMTS —% -$3M -200,000 -100.0% SOLD
71 MLTX —% -$35M -741,090 -100.0% SOLD
72 CBLL —% -$3M -150,000 -100.0% SOLD
73 ETNB —% -$19M -1,967,527 -100.0% SOLD
74 ABT —% -$60M -444,000 -100.0% SOLD
75 VRNA —% -$289M -3,051,878 -100.0% SOLD
76 CRGX —% -$5M -1,212,562 -100.0% SOLD

New Positions

SymbolValue% Port
COGT $50M 0.62%
AQST $35M 0.44%
ABVX $30M 0.37%
BLTE $23M 0.29%
ALEC $21M 0.26%
HTFL $17M 0.21%
LRMR $10M 0.13%
CMPX $9M 0.11%
PEPG $7M 0.09%
IMA $3M 0.03%

Sold Out Positions

SymbolValue% Port
ABT —%
CBLL —%
MLTX —%
KMTS —%
CRGX —%
ETNB —%
VRNA —%
View SEC EDGAR Filings for RTW INVESTMENTS, LP →

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