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

Caligan Partners LP

Q3 2025 · Filed 2025-11-14
Market Value
$702M
+37.6%
Holdings
18
+2
New Purchases
3
Added To
6
Closed
4
Reduced
2
Top 10 Concentration
95.9%
Turnover
38.9%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ABVX 17.56% 2.51% +15.05% $123M
MLYS 14.97% 5.35% +9.63% $105M
LQDA 26.30% 19.83% +6.47% $185M
ADMA 5.51% 0.00% +5.51% $39M
XENE 2.54% 0.00% +2.54% $18M
RVMD 7.08% 4.59% +2.49% $50M
TYRA 1.39% 0.36% +1.03% $10M
VRCA 0.57% 0.00% +0.57% $4M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
VRNA 0.00% 26.63% -26.63% $0
EXEL 8.97% 13.18% -4.20% $63M
MRUS 2.91% 6.77% -3.86% $20M
EOLS 3.62% 6.03% -2.41% $25M
YMAB 0.00% 2.07% -2.07% $0
RZLT 0.00% 1.35% -1.35% $0
BCRX 0.00% 1.12% -1.12% $0
ANIK 1.92% 2.98% -1.05% $13M
AGIO 6.47% 6.98% -0.52% $45M
AURA 0.20% 0.25% -0.05% $1M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 3 $113M 16.1%
Mid Cap 4 $346M 49.3%
Small Cap 9 $226M 32.2%
Micro Cap 2 $17M 2.5%

Portfolio Analytics

Avg Market Cap
$8.5B
Median Market Cap
$1.9B
Avg P/E
89.3
Median P/E
15.5
Avg Dividend Yield
—%
Avg Beta
0.64
# Stocks
18
# ETFs / Funds
0

Top Holdings (18 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 LQDA 26.30% 8,118,892 $185M $22.74 $83M
2 ABVX 17.56% 1,451,924 $123M $84.90 $110M -222,476 -13.3%
3 MLYS 14.97% 2,772,654 $105M $37.92 $78M +755,302 +37.4%
4 EXEL 8.97% 1,525,730 $63M $41.30 -$4M
5 RVMD 7.08% 1,064,249 $50M $46.70 $26M +427,414 +67.1%
6 AGIO 6.47% 1,131,205 $45M $40.14 $10M +59,947 +5.6%
7 ADMA 5.51% 2,636,609 $39M $14.66 +2,636,609 NEW
8 EOLS 3.62% 4,138,943 $25M $6.14 -$5M +796,973 +23.9%
9 MRUS 2.91% 216,954 $20M $94.15 -$14M -440,045 -67.0%
10 XENE 2.54% 444,565 $18M $40.15 +444,565 NEW
11 ANIK 1.92% 1,435,130 $13M $9.40 -$2M
12 TYRA 1.39% 696,825 $10M $13.99 $8M +506,875 +266.9%
13 VRCA 0.57% 923,910 $4M $4.31 +923,910 NEW
14 AURA 0.20% 227,174 $1M $6.18 $152K +27,174 +13.6%
15 BCRX —% -$6M -638,908 -100.0% SOLD
16 RZLT —% -$7M -1,543,014 -100.0% SOLD
17 YMAB —% -$11M -2,342,609 -100.0% SOLD
18 VRNA —% -$136M -1,436,878 -100.0% SOLD

Options Breakdown

1 Calls $4M Call Value 1 Puts $39M Put Value 10.57 P/C Ratio

Top Calls

SymbolSharesValueStatus
SLS 2,300,000 $4M

Top Puts

SymbolSharesValueStatus
AGIO 975,000 $39M NEW

New Positions

SymbolValue% Port
ADMA $39M 5.51%
XENE $18M 2.54%
VRCA $4M 0.57%

Sold Out Positions

SymbolValue% Port
BCRX —%
RZLT —%
YMAB —%
VRNA —%
View SEC EDGAR Filings for Caligan Partners 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