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Velan Capital Investment Management LP

Q3 2025 · Filed 2025-11-14
Market Value
$76M
-5.8%
Holdings
48
+2
New Purchases
8
Added To
11
Closed
8
Reduced
4
Top 10 Concentration
82.0%
Turnover
33.3%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
CDTX 13.68% 6.04% +7.63% $10M
ABVX 7.20% 0.00% +7.20% $5M
MLYS 8.77% 2.93% +5.84% $7M
RZLT 9.29% 4.15% +5.14% $7M
LNTH 4.97% 0.00% +4.97% $4M
TARA 12.26% 8.04% +4.22% $9M
RAPT 2.72% 0.00% +2.72% $2M
SNDX 2.63% 0.00% +2.63% $2M
TRVI 2.47% 0.00% +2.47% $2M
QURE 2.46% 0.00% +2.46% $2M
VRDN 2.46% 1.50% +0.96% $2M
STRO 3.57% 2.71% +0.86% $3M
0SZI.L 1.02% 0.51% +0.51% $772K
ARWR 0.30% 0.00% +0.30% $224K
OVID 0.27% 0.07% +0.21% $208K

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
VRNA 0.00% 11.15% -11.15% $0
ZVRA 0.00% 7.82% -7.82% $0
TRML 0.37% 7.82% -7.45% $277K
ARVN 0.00% 4.57% -4.57% $0
SCPH 0.00% 4.34% -4.34% $0
LQDA 0.00% 3.70% -3.70% $0
HRTX 14.53% 17.95% -3.42% $11M
CATX 0.00% 2.13% -2.13% $0
REPL 0.11% 2.11% -2.00% $84K
UPB 0.00% 1.46% -1.46% $0
ALMS 4.98% 6.03% -1.06% $4M
TELA 1.47% 1.80% -0.33% $1M
FDMT 0.00% 0.06% -0.06% $0

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 2 $224K 0.3%
Mid Cap 10 $26M 34.2%
Small Cap 23 $23M 30.4%
Micro Cap 13 $27M 35.1%

Portfolio Analytics

Avg Market Cap
$3.2B
Median Market Cap
$599M
Avg P/E
89.7
Median P/E
23.9
Avg Dividend Yield
—%
Avg Beta
0.94
# Stocks
48
# ETFs / Funds
0

Top Holdings (48 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 HRTX 14.53% 8,753,290 $11M $1.26 -$3M +1,766,546 +25.3%
2 CDTX 13.68% 108,404 $10M $95.76 $6M +8,404 +8.4%
3 TARA 12.26% 2,139,000 $9M $4.35 $3M
4 RZLT 9.29% 750,000 $7M $9.40 $4M
5 MLYS 8.77% 175,600 $7M $37.92 $4M +1,000 +0.6%
6 ABVX 7.20% 64,389 $5M $84.90 +64,389 NEW
7 ALMS 4.98% 946,683 $4M $3.99 -$1M -674,163 -41.6%
8 LNTH 4.97% 73,545 $4M $51.29 +73,545 NEW
9 STRO 3.57% 3,120,000 $3M $0.87 $525K +60,000 +2.0%
10 RAPT 2.72% 79,977 $2M $25.79 +79,977 NEW
11 SNDX 2.63% 130,000 $2M $15.39 +130,000 NEW
12 TRVI 2.47% 205,000 $2M $9.15 +205,000 NEW
13 QURE 2.46% 32,000 $2M $58.37 +32,000 NEW
14 VRDN 2.46% 86,500 $2M $21.58 $657K
15 TELA 1.47% 747,410 $1M $1.49 -$336K
16 ELDN 1.18% 346,973 $899K $2.59 -$20K +8,000 +2.4%
17 0SZI.L 1.02% 61,000 $772K $12.65 $365K +2,000 +3.4%
18 TRML 0.37% 5,800 $277K $47.83 -$6M -388,089 -98.5%
19 CTMX 0.34% 80,000 $255K $3.19 $85K +5,000 +6.7%
20 PTGX 0.32% 3,700 $246K $66.43 $41K
21 ARWR 0.30% 6,500 $224K $34.49 +6,500 NEW
22 OVID 0.27% 160,000 $208K $1.30 $155K
23 GOSS 0.24% 70,000 $184K $2.63 $92K -5,000 -6.7%
24 ALEC 0.21% 55,000 $163K $2.96 $86K
25 DSGN 0.20% 20,000 $151K $7.53 $83K
26 TERN 0.20% 20,000 $150K $7.51 $76K
27 NRIX 0.19% 16,000 $148K $9.24 $34K +6,000 +60.0%
28 ERAS 0.19% 65,000 $142K $2.18 $59K
29 VTYX 0.16% 40,000 $124K $3.11 $39K
30 PYXS 0.16% 55,000 $122K $2.22 $78K +15,000 +37.5%
31 IMNM 0.15% 10,000 $117K $11.71 +10,000 NEW
32 WVE 0.14% 15,000 $110K $7.32 $12K
33 GERN 0.14% 80,000 $110K $1.37 $11K +10,000 +14.3%
34 LRMR 0.14% 33,000 $107K $3.23 $11K
35 CNTX 0.13% 100,000 $97K $0.97 $31K
36 PRQR 0.13% 45,000 $96K $2.13 $4K
37 REPL 0.11% 20,000 $84K $4.19 -$2M -163,083 -89.1%
38 IMMX 0.10% 35,000 $73K $2.09 $21K +10,000 +40.0%
39 ACRS 0.08% 32,700 $62K $1.90 $16K
40 PMVP 0.06% 35,000 $49K $1.40 $12K
41 LQDA —% -$3M -239,260 -100.0% SOLD
42 CATX —% -$2M -500,000 -100.0% SOLD
43 UPB —% -$1M -107,000 -100.0% SOLD
44 FDMT —% -$45K -12,000 -100.0% SOLD
45 SCPH —% -$3M -917,668 -100.0% SOLD
46 ARVN —% -$4M -500,000 -100.0% SOLD
47 VRNA —% -$9M -95,000 -100.0% SOLD
48 ZVRA —% -$6M -715,000 -100.0% SOLD

New Positions

SymbolValue% Port
ABVX $5M 7.20%
LNTH $4M 4.97%
RAPT $2M 2.72%
SNDX $2M 2.63%
TRVI $2M 2.47%
QURE $2M 2.46%
ARWR $224K 0.30%
IMNM $117K 0.15%

Sold Out Positions

SymbolValue% Port
ARVN —%
FDMT —%
CATX —%
LQDA —%
UPB —%
ZVRA —%
VRNA —%
SCPH —%
View SEC EDGAR Filings for Velan Capital Investment Management LP →

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