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Caligan Partners LP

Q1 2026 · Filed 2026-05-15
Market Value
$1.4B
+29.3%
Holdings
25
+3
New Purchases
7
Added To
9
Closed
3
Reduced
1
Top 10 Concentration
82.1%
Turnover
40.0%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
XENE 5.96% 2.34% +3.62% $81M
SYRE 3.26% 0.00% +3.26% $44M
LBRX 2.55% 0.00% +2.55% $35M
RVMD 11.83% 9.73% +2.10% $161M
IRD 2.03% 0.00% +2.03% $28M
MBX 1.86% 0.00% +1.86% $25M
VOR 2.53% 0.95% +1.58% $34M
PCVX 8.81% 7.49% +1.33% $120M
TYRA 3.60% 2.36% +1.24% $49M
IVA 2.03% 0.88% +1.15% $28M
TNGX 3.71% 3.14% +0.56% $50M
SNSE 0.29% 0.00% +0.29% $4M
ANIK 1.53% 1.31% +0.22% $21M
AURA 0.11% 0.00% +0.11% $2M
XLO 0.07% 0.00% +0.07% $943K

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ABVX 11.98% 18.63% -6.65% $163M
LQDA 22.55% 26.65% -4.10% $306M
MLYS 5.53% 9.57% -4.05% $75M
RAPT 0.00% 2.08% -2.08% $0
ADMA 3.15% 5.23% -2.08% $43M
EXEL 4.90% 6.48% -1.58% $67M
MAZE 1.35% 2.17% -0.82% $18M
VRCA 0.36% 0.73% -0.37% $5M
SPRB 0.00% 0.17% -0.17% $0
ELDN 0.00% 0.08% -0.08% $0

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 2 $227M 16.7%
Mid Cap 6 $765M 56.3%
Small Cap 9 $274M 20.2%
Micro Cap 8 $93M 6.8%

Portfolio Analytics

Avg Market Cap
$3.5B
Median Market Cap
$1.1B
Avg P/E
89.3
Median P/E
15.5
Avg Dividend Yield
—%
Avg Beta
0.99
# Stocks
25
# ETFs / Funds
0

Top Holdings (25 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 LQDA 22.55% 8,118,892 $306M $37.74 $26M
2 ABVX 11.98% 1,461,924 $163M $111.35 -$33M +10,000 +0.7%
3 RVMD 11.83% 1,652,808 $161M $97.25 $58M +368,908 +28.7%
4 PCVX 8.81% 2,060,719 $120M $58.11 $41M +355,904 +20.9%
5 XENE 5.96% 1,393,027 $81M $58.15 $56M +843,362 +153.4%
6 MLYS 5.53% 2,772,654 $75M $27.09 -$26M
7 EXEL 4.90% 1,553,262 $67M $42.89 -$1M
8 TNGX 3.71% 2,408,798 $50M $20.92 $17M -1,321,097 -35.4%
9 TYRA 3.60% 1,276,968 $49M $38.30 $24M +332,711 +35.2%
10 SYRE 3.26% 878,127 $44M $50.44 +878,127 NEW
11 ADMA 3.15% 4,756,511 $43M $9.01 -$12M +1,744,003 +57.9%
12 LBRX 2.55% 1,438,070 $35M $24.08 +1,438,070 NEW
13 VOR 2.53% 1,925,066 $34M $17.84 $24M +999,999 +108.1%
14 IRD 2.03% 6,075,028 $28M $4.55 +6,075,028 NEW
15 IVA 2.03% 4,974,906 $28M $5.55 $18M +2,974,906 +148.8%
16 MBX 1.86% 848,590 $25M $29.85 +848,590 NEW
17 ANIK 1.53% 1,435,130 $21M $14.50 $7M
18 MAZE 1.35% 614,962 $18M $29.85 -$4M +64,771 +11.8%
19 VRCA 0.36% 923,910 $5M $5.29 -$3M
20 SNSE 0.29% 126,002 $4M $31.52 +126,002 NEW
21 AURA 0.11% 229,864 $2M $6.69 +229,864 NEW
22 XLO 0.07% 112,128 $943K $8.41 +112,128 NEW
23 ELDN —% -$840K -555,978 -100.0% SOLD
24 SPRB —% -$2M -20,514 -100.0% SOLD
25 RAPT —% -$22M -644,400 -100.0% SOLD

Options Breakdown

4 Calls $89M Call Value 2 Puts $0 Put Value 0.0 P/C Ratio

Top Calls

SymbolSharesValueStatus
CGON 900,000 $61M NEW
RVMD 228,900 $22M NEW
AGIO 90,000 $3M
ADMA 300,000 $3M NEW

Top Puts

SymbolSharesValueStatus
XENE $0 SOLD
MLYS $0 SOLD

New Positions

SymbolValue% Port
SYRE $44M 3.26%
LBRX $35M 2.55%
IRD $28M 2.03%
MBX $25M 1.86%
SNSE $4M 0.29%
AURA $2M 0.11%
XLO $943K 0.07%

Sold Out Positions

SymbolValue% Port
ELDN —%
SPRB —%
RAPT —%
View SEC EDGAR Filings for Caligan Partners LP →

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