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Asset Manager ← All Institutions

First Light Asset Management, LLC

Q3 2025 · Filed 2025-11-14
Market Value
$1.1B
+39.6%
Holdings
46
+3
New Purchases
9
Added To
15
Closed
6
Reduced
16
Top 10 Concentration
55.3%
Turnover
32.6%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AMLX 4.33% 0.00% +4.33% $46M
AXGN 9.84% 6.51% +3.32% $104M
PVLA 3.22% 0.00% +3.22% $34M
LENZ 3.07% 0.00% +3.07% $32M
MRUS 2.00% 0.00% +2.00% $21M
RYTM 1.73% 0.00% +1.73% $18M
PHLT 8.60% 6.98% +1.62% $91M
CDTX 2.66% 1.17% +1.50% $28M
IRON 1.45% 0.00% +1.45% $15M
MASS 2.09% 1.01% +1.08% $22M
CNTA 8.37% 7.48% +0.89% $88M
MDXG 2.42% 1.56% +0.86% $25M
ABVX 0.77% 0.00% +0.77% $8M
GH 1.66% 0.89% +0.77% $17M
NEO 7.28% 6.63% +0.64% $77M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ANAB 2.88% 10.42% -7.54% $30M
HCAT 3.64% 6.11% -2.48% $38M
RARE 0.82% 2.64% -1.82% $9M
SIBN 2.68% 4.37% -1.69% $28M
ATRC 2.98% 4.41% -1.43% $31M
TWST 3.19% 4.61% -1.42% $34M
IRTC 2.53% 3.82% -1.29% $27M
BFLY 0.21% 1.45% -1.24% $2M
ELDN 0.00% 0.93% -0.93% $0
INSM 0.00% 0.84% -0.84% $0
ADMA 1.49% 2.30% -0.81% $16M
EWTX 2.18% 2.98% -0.80% $23M
XENE 0.00% 0.78% -0.78% $0
ESTA 1.63% 2.36% -0.73% $17M
NPCE 1.33% 2.04% -0.71% $14M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 3 $23M 2.2%
Mid Cap 22 $505M 48.0%
Small Cap 15 $338M 32.1%
Micro Cap 6 $187M 17.7%

Portfolio Analytics

Avg Market Cap
$3.4B
Median Market Cap
$2.2B
Avg P/E
126.3
Median P/E
126.2
Avg Dividend Yield
—%
Avg Beta
0.99
# Stocks
46
# ETFs / Funds
0

Top Holdings (46 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 AXGN 9.84% 5,805,730 $104M $17.84 $54M +1,276,487 +28.2%
2 PHLT 8.60% 11,718,612 $91M $7.73 $38M -1,451,769 -11.0%
3 CNTA 8.37% 3,635,816 $88M $24.25 $32M -657,595 -15.3%
4 NEO 7.28% 9,927,269 $77M $7.72 $27M +3,080,837 +45.0%
5 AMLX 4.33% 3,355,882 $46M $13.59 +3,355,882 NEW
6 CRNX 3.72% 941,516 $39M $41.65 $14M +77,380 +8.9%
7 HCAT 3.64% 13,436,220 $38M $2.85 -$8M +1,206,039 +9.9%
8 PVLA 3.22% 541,544 $34M $62.69 +541,544 NEW
9 TWST 3.19% 1,194,883 $34M $28.14 -$1M +249,850 +26.4%
10 LENZ 3.07% 693,044 $32M $46.58 +693,044 NEW
11 ORGO 3.00% 7,497,911 $32M $4.22 $7M +720,748 +10.6%
12 ATRC 2.98% 890,362 $31M $35.25 -$2M -124,808 -12.3%
13 ANAB 2.88% 990,161 $30M $30.62 -$48M -2,549,432 -72.0%
14 SIBN 2.68% 1,917,903 $28M $14.72 -$5M +166,902 +9.5%
15 CDTX 2.66% 292,657 $28M $95.76 $19M +112,042 +62.0%
16 IRTC 2.53% 155,099 $27M $171.99 -$2M -32,256 -17.2%
17 MDXG 2.42% 3,652,952 $25M $6.98 $14M +1,725,458 +89.5%
18 EWTX 2.18% 1,414,994 $23M $16.22 $480K -299,025 -17.4%
19 MASS 2.09% 2,510,496 $22M $8.76 $14M +1,442,883 +135.2%
20 MRUS 2.00% 224,080 $21M $94.15 +224,080 NEW
21 RYTM 1.73% 180,484 $18M $100.99 +180,484 NEW
22 GH 1.66% 280,001 $17M $62.48 $11M +151,133 +117.3%
23 KRMD 1.65% 4,527,737 $17M $3.83 $581K -153,889 -3.3%
24 ESTA 1.63% 418,358 $17M $40.99 -$668K +1,201 +0.3%
25 ADMA 1.49% 1,069,233 $16M $14.66 -$2M +117,137 +12.3%
26 IRON 1.45% 231,186 $15M $66.08 +231,186 NEW
27 VERA 1.40% 507,097 $15M $29.06 $1M -55,884 -9.9%
28 NPCE 1.33% 1,360,071 $14M $10.31 -$1M -20,339 -1.5%
29 CAI 1.13% 403,924 $12M $29.42 $635K -39,119 -8.8%
30 SLP 1.10% 767,760 $12M $15.07 $5M +410,603 +115.0%
31 RARE 0.82% 285,699 $9M $30.08 -$11M -262,206 -47.9%
32 ABVX 0.77% 95,955 $8M $84.90 +95,955 NEW
33 RGEN 0.53% 41,427 $6M $133.67 $71K -2,522 -5.7%
34 GPCR 0.52% 197,350 $6M $28.00 $3M +75,124 +61.5%
35 MDGL 0.50% 11,539 $5M $458.66 +11,539 NEW
36 EVH 0.44% 545,282 $5M $8.46 -$4M -193,268 -26.2%
37 ALHC 0.34% 203,138 $4M $17.45 -$2M -180,525 -47.0%
38 RDNT 0.31% 42,280 $3M $76.21 -$687K -26,414 -38.5%
39 TECX 0.30% 202,393 $3M $15.69 +202,393 NEW
40 BFLY 0.21% 1,127,998 $2M $1.93 -$9M -4,337,034 -79.4%
41 LNTH —% -$2M -30,045 -100.0% SOLD
42 XENE —% -$6M -188,367 -100.0% SOLD
43 JANX —% -$3M -149,596 -100.0% SOLD
44 EOLS —% -$5M -520,631 -100.0% SOLD
45 ELDN —% -$7M -2,600,498 -100.0% SOLD
46 INSM —% -$6M -62,901 -100.0% SOLD

New Positions

SymbolValue% Port
AMLX $46M 4.33%
PVLA $34M 3.22%
LENZ $32M 3.07%
MRUS $21M 2.00%
RYTM $18M 1.73%
IRON $15M 1.45%
ABVX $8M 0.77%
MDGL $5M 0.50%
TECX $3M 0.30%

Sold Out Positions

SymbolValue% Port
EOLS —%
JANX —%
ELDN —%
LNTH —%
XENE —%
INSM —%
View SEC EDGAR Filings for First Light Asset Management, LLC →

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