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Velan Capital Investment Management LP

Q4 2025 · Filed 2026-02-13
Market Value
$120M
+58.4%
Holdings
46
-2
New Purchases
6
Added To
5
Closed
11
Reduced
4
Top 10 Concentration
80.0%
Turnover
37.0%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MPLT 7.63% 0.00% +7.63% $9M
EVMN 7.21% 0.00% +7.21% $9M
CDTX 19.91% 13.68% +6.24% $24M
ESPR 3.72% 0.00% +3.72% $4M
VRCA 3.26% 0.00% +3.26% $4M
TERN 2.35% 0.20% +2.15% $3M
PROF 1.87% 0.00% +1.87% $2M
KZIA 1.72% 0.00% +1.72% $2M
RAPT 3.04% 2.72% +0.32% $4M
ABVX 7.51% 7.20% +0.31% $9M
TARA 12.56% 12.26% +0.31% $15M
VTYX 0.30% 0.16% +0.14% $361K
ARWR 0.36% 0.30% +0.06% $432K
NRIX 0.25% 0.19% +0.06% $304K
IMMX 0.15% 0.10% +0.06% $183K

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
RZLT 1.47% 9.29% -7.82% $2M
HRTX 9.46% 14.53% -5.07% $11M
ALMS 0.00% 4.98% -4.98% $0
MLYS 4.56% 8.77% -4.22% $5M
STRO 0.00% 3.57% -3.57% $0
QURE 0.00% 2.46% -2.46% $0
TELA 0.00% 1.47% -1.47% $0
ELDN 0.00% 1.18% -1.18% $0
0SZI.L 0.09% 1.02% -0.93% $106K
LNTH 4.13% 4.97% -0.84% $5M
TRML 0.00% 0.37% -0.37% $0
SNDX 2.27% 2.63% -0.36% $3M
TRVI 2.13% 2.47% -0.34% $3M
VRDN 2.24% 2.46% -0.22% $3M
ALEC 0.00% 0.21% -0.21% $0

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 1 $432K 0.4%
Mid Cap 9 $44M 36.5%
Small Cap 19 $31M 26.0%
Micro Cap 17 $45M 37.1%

Portfolio Analytics

Avg Market Cap
$1.6B
Median Market Cap
$575M
Avg P/E
23.9
Median P/E
23.9
Avg Dividend Yield
—%
Avg Beta
0.97
# Stocks
46
# ETFs / Funds
0

Top Holdings (46 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 CDTX 19.91% 108,404 $24M $220.89 $14M
2 TARA 12.56% 2,834,652 $15M $5.33 $6M +695,652 +32.5%
3 HRTX 9.46% 8,753,290 $11M $1.30 $350K
4 MPLT 7.63% 522,305 $9M $17.57 +522,305 NEW
5 ABVX 7.51% 67,000 $9M $134.85 $4M +2,611 +4.1%
6 EVMN 7.21% 506,754 $9M $17.12 +506,754 NEW
7 MLYS 4.56% 151,000 $5M $36.29 -$1M -24,600 -14.0%
8 LNTH 4.13% 74,687 $5M $66.55 $1M +1,142 +1.6%
9 ESPR 3.72% 1,210,000 $4M $3.70 +1,210,000 NEW
10 VRCA 3.26% 471,559 $4M $8.31 +471,559 NEW
11 RAPT 3.04% 108,000 $4M $33.87 $2M +28,023 +35.0%
12 TERN 2.35% 70,000 $3M $40.40 $3M +50,000 +250.0%
13 SNDX 2.27% 130,000 $3M $21.01 $731K
14 VRDN 2.24% 86,500 $3M $31.12 $825K
15 TRVI 2.13% 205,000 $3M $12.52 $691K
16 PROF 1.87% 285,710 $2M $7.87 +285,710 NEW
17 KZIA 1.72% 300,000 $2M $6.89 +300,000 NEW
18 RZLT 1.47% 750,000 $2M $2.36 -$5M
19 ARWR 0.36% 6,500 $432K $66.39 $207K
20 VTYX 0.30% 40,000 $361K $9.03 $237K
21 CTMX 0.28% 80,000 $341K $4.26 $86K
22 PTGX 0.27% 3,700 $323K $87.34 $77K
23 NRIX 0.25% 16,000 $304K $18.97 $156K
24 OVID 0.22% 160,000 $261K $1.63 $53K
25 GOSS 0.18% 70,000 $217K $3.10 $33K
26 IMNM 0.18% 10,000 $215K $21.48 $98K
27 DSGN 0.16% 20,000 $188K $9.38 $37K
28 IMMX 0.15% 35,000 $183K $5.23 $110K
29 CNTX 0.12% 100,000 $147K $1.47 $50K
30 REPL 0.12% 15,000 $146K $9.72 $62K -5,000 -25.0%
31 LRMR 0.10% 33,000 $126K $3.81 $19K
32 0SZI.L 0.09% 13,000 $106K $8.14 -$666K -48,000 -78.7%
33 PRQR 0.08% 45,000 $91K $2.02 -$5K
34 PYXS 0.04% 40,000 $46K $1.15 -$76K -15,000 -27.3%
35 PMVP 0.04% 35,000 $44K $1.25 -$5K
36 TELA —% -$1M -747,410 -100.0% SOLD
37 ALMS —% -$4M -946,683 -100.0% SOLD
38 QURE —% -$2M -32,000 -100.0% SOLD
39 ERAS —% -$142K -65,000 -100.0% SOLD
40 ACRS —% -$62K -32,700 -100.0% SOLD
41 ELDN —% -$899K -346,973 -100.0% SOLD
42 GERN —% -$110K -80,000 -100.0% SOLD
43 WVE —% -$110K -15,000 -100.0% SOLD
44 TRML —% -$277K -5,800 -100.0% SOLD
45 STRO —% -$3M -3,120,000 -100.0% SOLD
46 ALEC —% -$163K -55,000 -100.0% SOLD

New Positions

SymbolValue% Port
MPLT $9M 7.63%
EVMN $9M 7.21%
ESPR $4M 3.72%
VRCA $4M 3.26%
PROF $2M 1.87%
KZIA $2M 1.72%

Sold Out Positions

SymbolValue% Port
ERAS —%
ALMS —%
ACRS —%
ELDN —%
GERN —%
ALEC —%
TELA —%
STRO —%
QURE —%
WVE —%
TRML —%
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