RA CAPITAL MANAGEMENT, L.P.
Reported holdings as of Q2 2026, from 31 quarterly filings.
Holdings
| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| ASCENDIS PHARMA A/S | ASND | $2.7B | 10,281,496 | - | new | NEW | |
| PARABILIS MEDICINES INC | PBLS | $791.9M | 28,933,371 | - | new | NEW | |
| RHYTHM PHARMACEUTICALS INC | RYTM | $740.2M | 6,666,837 | +0.29pp | 31q | HELD | |
| VAXCYTE INC | PCVX | $667.0M | 11,474,599 | -1.27pp | 25q | HELD | |
| SIONNA THERAPEUTICS INC | SION | $435.7M | 9,905,045 | -0.42pp | 6q | HELD | |
| TYRA BIOSCIENCES INC | TYRA | $389.6M | 12,198,625 | -1.56pp | 20q | HELD | |
| EDGEWISE THERAPEUTICS INC | EWTX | $341.0M | 8,392,730 | -0.52pp | 10q | -19.5%-$82.7M | |
| NEWAMSTERDAM PHARMA COMPANY | NAMS | $323.7M | 9,550,191 | -0.43pp | 15q | HELD | |
| HEMAB THERAPEUTICS HLDGS INC | $286.8M | 7,808,627 | - | new | NEW | ||
| SEPTERNA INC | SEPN | $234.3M | 6,995,858 | +0.25pp | 7q | HELD | |
| BICARA THERAPEUTICS INC | BCAX | $215.4M | 7,255,993 | +0.34pp | 8q | HELD | |
| MINERALYS THERAPEUTICS INC | MLYS | $207.6M | 7,692,750 | -0.40pp | 14q | HELD | |
| GH RESEARCH PLC | GHRS | $205.3M | 7,636,813 | +0.64pp | 21q | -0.5%-$1.1M | |
| DISC MEDICINE INC | IRON | $179.2M | 2,450,221 | -0.10pp | 6q | HELD | |
| SPYGLASS PHARMA INC | SGP | $178.6M | 8,021,117 | -0.65pp | 2q | HELD | |
| ARTIVA BIOTHERAPEUTICS INC | ARTV | $174.2M | 17,955,642 | +0.84pp | 8q | +82.2%+$78.6M | |
| JANUX THERAPEUTICS INC | JANX | $171.9M | 11,189,693 | -0.15pp | 21q | HELD | |
| TAYSHA GENE THERAPIES INC | TSHA | $160.4M | 23,555,648 | +0.28pp | 12q | HELD | |
| BIOCRYST PHARMACEUTICALS INC | BCRX | $158.3M | 15,827,186 | -0.22pp | 3q | HELD | |
| WAVE LIFE SCIENCES LTD | WVE | $156.7M | 26,975,505 | -0.71pp | 31q | HELD | |
| NUVALENT INC | NUVL | $153.9M | 1,246,456 | -1.41pp | 4q | -50.8%-$159.0M | |
| ABIVAX SA | ABVX | $150.9M | 1,132,557 | - | new | NEW | |
| ORUKA THERAPEUTICS INC | ORKA | $148.0M | 1,554,597 | - | new | NEW | |
| CLIMB BIO INC | CLYM | $147.4M | 11,300,939 | +0.46pp | 20q | HELD | |
| SOLID BIOSCIENCES INC | SLDB | $120.2M | 12,036,126 | +0.33pp | 15q | +28.9%+$26.9M | |
| ZAI LAB LTD | ZLAB | $109.1M | 5,743,533 | -0.19pp | 2q | +0.6%+$689.1K | |
| ARS PHARMACEUTICALS INC | SPRY | $87.0M | 10,860,977 | -0.17pp | 15q | HELD | |
| XENCOR INC | XNCR | $84.9M | 5,274,274 | +0.11pp | 2q | +7.7%+$6.1M | |
| JADE BIOSCIENCES INC | JBIO | $81.6M | 3,671,083 | +0.16pp | 5q | HELD | |
| INTELLIA THERAPEUTICS INC | NTLA | $76.6M | 4,526,926 | - | new | NEW | |
| LB PHARMACEUTICALS INC | LBRX | $71.7M | 2,208,604 | +0.05pp | 4q | HELD | |
| DEFINIUM THERAPEUTICS INC | DFTX | $70.6M | 1,500,000 | - | new | NEW | |
| ACLARIS THERAPEUTICS INC | ACRS | $67.3M | 12,723,026 | +0.31pp | 2q | +87.0%+$31.3M | |
| 4D MOLECULAR THERAPEUTICS IN | FDMT | $67.2M | 5,049,779 | +0.09pp | 13q | HELD | |
| SANA BIOTECHNOLOGY INC | SANA | $65.4M | 18,750,000 | - | new | NEW | |
| DAMORA THERAPEUTICS INC | DMRA | $62.4M | 2,399,702 | -0.12pp | 2q | HELD | |
| MONOPAR THERAPEUTICS INC | MNPR | $61.8M | 667,207 | +0.15pp | 7q | HELD | |
| ACUMEN PHARMACEUTICALS INC | ABOS | $56.1M | 20,992,669 | -0.04pp | 20q | HELD | |
| GERON CORP | GERN | $54.8M | 42,809,751 | -0.53pp | 25q | -32.9%-$26.8M | |
| REZOLUTE INC | RZLT | $49.1M | 9,445,039 | +0.13pp | 3q | +2.9%+$1.4M | |
| EVOMMUNE INC | EVMN | $46.4M | 3,494,638 | -0.45pp | 3q | HELD | |
| VOR BIOPHARMA INC | VOR | $44.2M | 2,402,095 | -0.64pp | 4q | -55.6%-$55.3M | |
| CENTURY THERAPEUTICS INC | IPSC | $43.5M | 17,754,430 | -0.05pp | 2q | HELD | |
| AKTIS ONCOLOGY INC | AKTS | $42.4M | 1,314,405 | +0.08pp | 2q | -12.6%-$6.1M | |
| BIOAGE LABS INC | BIOA | $41.0M | 1,671,648 | +0.05pp | 2q | +1.3%+$514.7K | |
| C4 THERAPEUTICS INC | CCCC | $37.4M | 8,000,000 | +0.10pp | 3q | HELD | |
| MIRUM PHARMACEUTICALS INC | MIRM | $37.3M | 318,554 | +0.01pp | 2q | HELD | |
| CAPRICOR THERAPEUTICS INC | CAPR | $36.3M | 1,507,844 | -0.17pp | 3q | HELD | |
| PEPGEN INC | PEPG | $36.1M | 20,064,545 | -0.06pp | 17q | HELD | |
| PRELUDE THERAPEUTICS INC | PRLD | $34.5M | 6,475,882 | - | new | NEW | |
| NKARTA INC | NKTX | $30.6M | 10,805,129 | +0.02pp | 24q | HELD | |
| Q32 BIO INC | QTTB | $29.7M | 2,332,457 | - | new | NEW | |
| ANTERIS TECHNOLOGIES GLOBAL | AVR | $29.6M | 3,000,000 | +0.08pp | 2q | HELD | |
| EDITAS MEDICINE INC | EDIT | $28.8M | 8,889,000 | - | new | NEW | |
| OVID THERAPEUTICS INC | OVID | $28.2M | 10,500,968 | -0.01pp | 3q | -2.0%-$573.1K | |
| ASSEMBLY BIOSCIENCES INC | ASMB | $28.0M | 1,020,410 | -0.06pp | 4q | HELD | |
| ALX ONCOLOGY HLDGS INC | ALXO | $26.9M | 13,011,849 | -0.04pp | 2q | HELD | |
| BENITEC BIOPHARMA INC | BNTC | $24.8M | 1,850,000 | +0.01pp | 3q | HELD | |
| LENZ THERAPEUTICS INC | LENZ | $23.7M | 4,178,823 | -0.20pp | 10q | HELD | |
| LEXEO THERAPEUTICS INC | LXEO | $23.3M | 5,000,000 | -0.10pp | 3q | HELD | |
| ACRIVON THERAPEUTICS INC | ACRV | $21.8M | 12,229,396 | +0.07pp | 15q | +46.6%+$6.9M | |
| ALTIMMUNE INC | ALT | $19.8M | 6,500,000 | - | new | NEW | |
| KARYOPHARM THERAPEUTICS INC | KPTI | $18.7M | 1,917,354 | +0.05pp | 2q | HELD | |
| BRIGHT MINDS BIOSCIENCES INC | DRUG | $18.6M | 265,000 | -0.04pp | 2q | HELD | |
| AVALO THERAPEUTICS INC | AVTX | $18.5M | 1,000,000 | +0.06pp | 8q | +50.8%+$6.2M | |
| ONKURE THERAPEUTICS INC | OKUR | $18.2M | 3,998,333 | -0.02pp | 2q | HELD | |
| FAETH THERAPEUTICS INC | FTH | $18.1M | 722,020 | - | new | NEW | |
| AURA BIOSCIENCES INC | AURA | $17.8M | 2,500,000 | - | new | NEW | |
| SAB BIOTHERAPEUTICS INC | SABS | $17.2M | 4,401,500 | -0.03pp | 4q | HELD | |
| SEAPORT THERAPEUTICS INC | SPTX | $15.2M | 700,000 | - | new | NEW | |
| PALISADE BIO INC | PALI | $14.9M | 7,124,116 | flat | 3q | HELD | |
| HELIX ACQUISITION CORP III | HLXC | $13.3M | 1,250,000 | -0.02pp | 2q | HELD | |
| WAYSTAR HLDG CORP | WAY | $10.9M | 529,400 | -0.04pp | 3q | HELD | |
| EQUILLIUM INC | EQ | $9.9M | 3,096,336 | +0.02pp | 2q | HELD | |
| MACROGENICS INC | MGNX | $8.6M | 1,864,176 | +0.02pp | 2q | HELD | |
| PERCEPTIVE CAP SOLUTIONS COR | PCSC | $8.2M | 750,000 | -0.02pp | 9q | HELD | |
| ADICET BIO INC | ACET | $8.1M | 932,624 | -0.02pp | 3q | -21.1%-$2.2M | |
| NEWAMSTERDAM PHARMA COMPANY | NAMSW | $7.1M | 333,333 | -0.01pp | 15q | HELD | |
| CORVUS PHARMACEUTICALS INC | CRVS | $6.7M | 450,000 | -0.01pp | 2q | HELD | |
| RANI THERAPEUTICS HLDGS INC | RANI | $6.5M | 8,500,000 | -0.01pp | 3q | HELD | |
| JATT II ACQUISITION CORP | $5.7M | 500,000 | - | new | NEW | ||
| AMANAT ACQUISITION CORP | AMAN | $3.8M | 375,000 | - | new | NEW | |
| WEREWOLF THERAPEUTICS INC | HOWL | $859.3K | 2,387,744 | -0.05pp | 21q | -64.3%-$1.5M | |
| PALATIN TECHNOLOGIES INC | PTN | $670.3K | 62,124 | -0.01pp | 3q | -11.3%-$85.0K |
By sector
Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.
| Sector | Value | Share |
|---|---|---|
| Biotech & Pharma | $10.0B | 87.0% |
| Medical Devices | $208.1M | 1.8% |
| Other sectors | $24.2M | 0.2% |
| Not classified | $1.3B | 11.0% |
Quarter by quarter
| Quarter | Value | Positions | New | Added | Trimmed | Exited | Top 10 | Days to file |
|---|---|---|---|---|---|---|---|---|
| Q2 2026 | $11.5B | 84 | 17 | 9 | 10 | 18 | 60.4% | 45 |
| Q1 2026 | $9.4B | 85 | 24 | 16 | 2 | 10 | 61.3% | 45 |
| Q4 2025 | $9.8B | 71 | 22 | 12 | 8 | 18 | 65.6% | 48 |
| Q3 2025 | $8.1B | 67 | 16 | 6 | 1 | 12 | 63.9% | 45 |
| Q2 2025 | $5.9B | 63 | 6 | 9 | 9 | 28 | 66.2% | 45 |
| Q1 2025 | $6.0B | 85 | 11 | 14 | 4 | 15 | 62.9% | 45 |
| Q4 2024 | $7.5B | 89 | 17 | 9 | 16 | 9 | 57.6% | 45 |
| Q3 2024 | $8.7B | 81 | 9 | 9 | 13 | 6 | 55.2% | 45 |
| Q2 2024 | $7.6B | 78 | 11 | 24 | 6 | 9 | 53.9% | 45 |
| Q1 2024 | $7.9B | 76 | 21 | 17 | 5 | 7 | 51.1% | 45 |
| Q4 2023 | $6.4B | 62 | 5 | 8 | 9 | 9 | 60.9% | 45 |
| Q3 2023 | $5.1B | 66 | 14 | 10 | 3 | 2 | 55.1% | 45 |
| Q2 2023 | $5.3B | 54 | 4 | 8 | 3 | 9 | 58.3% | 45 |
| Q1 2023 | $4.4B | 59 | 4 | 12 | 2 | 15 | 50.3% | 45 |
| Q4 2022 | $4.9B | 70 | 10 | 16 | 10 | 21 | 50.7% | 45 |
| Q3 2022 | $4.7B | 81 | 13 | 10 | 7 | 20 | 46.5% | 45 |
| Q2 2022 | $3.8B | 88 | 14 | 9 | 11 | 22 | 47.2% | 46 |
| Q1 2022 | $4.6B | 96 | 10 | 11 | 7 | 11 | 44.8% | 46 |
| Q4 2021 | $5.7B | 97 | 11 | 8 | 7 | 9 | 45.4% | 45 |
| Q3 2021 | $7.2B | 95 | 21 | 8 | 6 | 18 | 44.5% | 46 |
| Q2 2021 | $6.2B | 92 | 20 | 7 | 3 | 10 | 46.2% | 47 |
| Q1 2021 | $6.6B | 82 | 19 | 9 | 12 | 19 | 50.2% | 47 |
| Q4 2020 | $7.2B | 82 | 23 | 4 | 17 | 11 | 50.8% | 47 |
| Q3 2020 | $5.5B | 70 | 18 | 6 | 14 | 5 | 52.0% | 47 |
| Q2 2020 | $5.1B | 57 | 18 | 8 | 12 | 9 | 55.3% | 45 |
| Q1 2020 | $3.2B | 48 | 18 | 15 | 4 | 4 | 55.4% | 45 |
| Q4 2019 | $3.3B | 34 | 9 | 7 | 2 | 7 | 71.5% | 45 |
| Q3 2019 | $1.7B | 32 | 9 | 4 | 5 | 2 | 74.6% | 45 |
| Q2 2019 | $1.9B | 25 | 4 | 4 | 3 | 8 | 79.2% | 45 |
| Q1 2019 | $2.3B | 29 | 6 | 3 | 6 | 2 | 72.0% | 45 |
| Q4 2018 | $1.7B | 25 | 0 | 0 | 0 | 0 | 73.8% | 45 |
Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.
Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.
Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.