BAKER BROS ADVISORS LP's Q3 2022 13F: 12 new positions, 13 exits
Form 13F-HR for the quarter ended Sep 30, 2022 · filed Nov 14, 2022 · 113 reported positions · accession 0001104659-22-118527
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Reduced | argenx SE (ARGX) | 2.4% | 0.6% | −1.8 pts | −839K sh | −75% |
| Increased | Akero Therapeutics, Inc. (AKRO) | 0.0% | 0.5% | +0.5 pts | +2.25M sh | +1901% |
| Increased | Rhythm Pharmaceuticals, Inc. (RYTM) | 0.1% | 1.0% | +0.9 pts | +1.94M sh | +47% |
| Reduced | Insmed Incorporated (INSM) | 0.2% | 0.0% | −0.2 pts | −2.14M sh | −99% |
| Exited | Legend Biotech Corporation (LEGN) | 0.3% | — | −0.3 pts | −857K sh | −100% |
| Reduced | Krystal Biotech, Inc. (KRYS) | 0.3% | 0.2% | −0.1 pts | −386K sh | −48% |
| New | CinCor Pharma, Inc. (CINC) | — | 0.2% | +0.2 pts | +807K sh | new |
| Reduced | Pacific Biosciences of California, Inc. (PACB) | 0.1% | 0.0% | −0.1 pts | −4.32M sh | −79% |
| New | IDEAYA Biosciences, Inc. (IDYA) | — | 0.2% | +0.2 pts | +1.67M sh | new |
| New | Bicycle Therapeutics plc (BCYC) | — | 0.1% | +0.1 pts | +844K sh | new |
| Exited | Merus N.V. (MRUS) | 0.1% | — | −0.1 pts | −995K sh | −100% |
| New | Veru Inc. (VERU) | — | 0.1% | +0.1 pts | +1.61M sh | new |
| Reduced | Amarin Corporation plc (AMRN) | 0.2% | 0.0% | −0.1 pts | −15.79M sh | −75% |
| Reduced | Alkermes plc (ALKS) | 0.3% | 0.1% | −0.1 pts | −685K sh | −46% |
| New | Aadi Bioscience, Inc. (WHWK) | — | 0.1% | +0.1 pts | +990K sh | new |
| Reduced | Horizon Therapeutics Public Ltd Co (HZNP) | 0.5% | 0.4% | −0.1 pts | −179K sh | −16% |
| New | POINT Biopharma Global Inc. (PNT) | — | 0.1% | +0.1 pts | +1.17M sh | new |
| Exited | Karuna Therapeutics, Inc. (KRTX) | 0.1% | — | −0.1 pts | −69,966 sh | −100% |
| Exited | Harmony Biosciences Holdings, Inc. (HRMY) | 0.0% | — | 0.0 pts | −124K sh | −100% |
| Increased | Replimune Group, Inc. (REPL) | 0.4% | 0.4% | +0.1 pts | +303K sh | +8% |
| New | Kronos Bio, Inc. (KRON) | — | 0.0% | 0.0 pts | +1.54M sh | new |
| New | Fate Therapeutics, Inc. (FATE) | — | 0.0% | 0.0 pts | +216K sh | new |
| Exited | Centessa Pharmaceuticals plc (CNTA) | 0.0% | — | 0.0 pts | −1.13M sh | −100% |
| New | Stoke Therapeutics, Inc. (STOK) | — | 0.0% | 0.0 pts | +369K sh | new |
| New | Eiger BioPharmaceuticals, Inc. (EIGR) | — | 0.0% | 0.0 pts | +540K sh | new |
| Reduced | Altimmune, Inc. (ALT) | 0.1% | 0.1% | 0.0 pts | −306K sh | −15% |
| New | PMV Pharmaceuticals, Inc. (PMVP) | — | 0.0% | 0.0 pts | +322K sh | new |
| New | Century Therapeutics, Inc. (IPSC) | — | 0.0% | 0.0 pts | +371K sh | new |
| Reduced | Invitae Corporation (NVTA) | 0.1% | 0.1% | 0.0 pts | −1.47M sh | −15% |
| Reduced | Forma Therapeutics Holdings, Inc. (FMTX) | 0.1% | 0.2% | +0.2 pts | −138K sh | −7% |
| Exited | Evofem Biosciences, Inc. (EVFM) | 0.0% | — | 0.0 pts | −2.58M sh | −100% |
| Exited | BioAtla, Inc. (BCAB) | 0.0% | — | 0.0 pts | −825K sh | −100% |
| Reduced | Tricida, Inc. (TCDAQ) | 0.1% | 0.1% | 0.0 pts | −183K sh | −12% |
| Reduced | Crinetics Pharmaceuticals, Inc. (CRNX) | 0.1% | 0.1% | 0.0 pts | −91,764 sh | −11% |
| Reduced | Aerovate Therapeutics, Inc. (AVTE) | 0.2% | 0.2% | 0.0 pts | −90,442 sh | −4% |
| Reduced | Fulgent Genetics, Inc. (FLGT) | 0.1% | 0.0% | 0.0 pts | −34,825 sh | −17% |
| Increased | Vor Biopharma Inc. (VOR) | 0.0% | 0.0% | 0.0 pts | +327K sh | +29% |
| Exited | Epizyme, Inc. (EPZM) | 0.0% | — | 0.0 pts | −1M sh | −100% |
| Exited | NGM Biopharmaceuticals, Inc. (NGM) | 0.0% | — | 0.0 pts | −55,294 sh | −100% |
| Exited | Burning Rock Biotech Limited (BNR) | 0.0% | — | 0.0 pts | −209K sh | −100% |
| Reduced | aTyr Pharma, Inc. (ATYR) | 0.0% | 0.0% | 0.0 pts | −173K sh | −46% |
| Exited | Inozyme Pharma, Inc. (INZY) | 0.0% | — | 0.0 pts | −107K sh | −100% |
| Exited | Passage Bio, Inc. (PASG) | 0.0% | — | 0.0 pts | −117K sh | −100% |
| Reduced | LogicBio Therapeutics, Inc. (LOGC) | 0.0% | 0.0% | 0.0 pts | −312K sh | −69% |
| Increased | Incyte Corporation (INCY) | 15.7% | 15.8% | +0.2 pts | +457 sh | 0% |
| Reduced | Opthea Limited (CYVNY) | 0.1% | 0.1% | 0.0 pts | −4,800 sh | 0% |
| Exited | NexImmune, Inc. (NEXI) | 0.0% | — | 0.0 pts | −20,000 sh | −100% |
| Increased | Otonomy, Inc. (OTIC) | 0.1% | 0.0% | −0.1 pts | +30,500 sh | 0% |
| Increased | Immunocore Holdings plc (IMCR) | 0.5% | 0.8% | +0.2 pts | +1 sh | 0% |
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
Top 10 positions — 84.9% of the equity book
Changes in the top 10 this quarter: RYTM entered · ARGX left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | Seagen Inc. (SGEN) | 47.3% | 42.2% | |
| 2 | Incyte Corporation (INCY) | 15.7% | 15.8% | |
| 3 | BeiGene, Ltd. (ONC) | 10.8% | 10.3% | |
| 4 | ACADIA Pharmaceuticals Inc. (ACAD) | 3.4% | 4.5% | |
| 5 | BioMarin Pharmaceutical Inc. (BMRN) | 3.6% | 4.2% | |
| 6 | Ascendis Pharma A/S (ASND) | 2.6% | 3.3% | |
| 7 | Global Blood Therapeutics, Inc. (GBT) | 0.7% | 1.7% | |
| 8 | BioCryst Pharmaceuticals, Inc. (BCRX) | 0.8% | 1.1% | |
| 9 | Rhythm Pharmaceuticals, Inc. (RYTM) | 0.1% | 1.0% | Entered the top 10 |
| 10 | Kodiak Sciences Inc. (KOD) | 0.8% | 0.9% | |
| — | argenx SE (ARGX) | 2.4% | 0.6% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).