BAKER BROS ADVISORS LP's Q4 2022 13F: 14 new positions, 16 exits
Form 13F-HR for the quarter ended Dec 31, 2022 · filed Feb 14, 2023 · 111 reported positions · accession 0001104659-23-021551
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Exited | Global Blood Therapeutics, Inc. (GBT) | 1.7% | — | −1.7 pts | −3.73M sh | −100% |
| Exited | ChemoCentryx, Inc. (CCXI) | 0.6% | — | −0.6 pts | −1.79M sh | −100% |
| Reduced | Travere Therapeutics, Inc. (TVTX) | 0.5% | 0.2% | −0.4 pts | −2.07M sh | −63% |
| Exited | Forma Therapeutics Holdings, Inc. (FMTX) | 0.2% | — | −0.2 pts | −1.89M sh | −100% |
| New | SpringWorks Therapeutics, Inc. (SWTX) | — | 0.2% | +0.2 pts | +1.53M sh | new |
| Exited | Relmada Therapeutics, Inc. (RLMD) | 0.1% | — | −0.1 pts | −495K sh | −100% |
| Exited | Alkermes plc (ALKS) | 0.1% | — | −0.1 pts | −815K sh | −100% |
| New | Prime Medicine, Inc. (PRME) | — | 0.1% | +0.1 pts | +1.03M sh | new |
| Increased | Replimune Group, Inc. (REPL) | 0.4% | 0.7% | +0.3 pts | +684K sh | +18% |
| Reduced | Altimmune, Inc. (ALT) | 0.1% | 0.1% | −0.1 pts | −1.12M sh | −63% |
| New | ARS Pharmaceuticals, Inc. (SPRY) | — | 0.1% | +0.1 pts | +2.01M sh | new |
| Exited | Crinetics Pharmaceuticals, Inc. (CRNX) | 0.1% | — | −0.1 pts | −736K sh | −100% |
| Exited | Tricida, Inc. (TCDAQ) | 0.1% | — | −0.1 pts | −1.32M sh | −100% |
| Increased | Denali Therapeutics Inc. (DNLI) | 0.1% | 0.2% | +0.1 pts | +500K sh | +85% |
| New | Zymeworks Inc. (ZYME) | — | 0.1% | +0.1 pts | +1.71M sh | new |
| Increased | Madrigal Pharmaceuticals, Inc. (MDGL) | 0.6% | 2.7% | +2.1 pts | +45,900 sh | +3% |
| Increased | Ascendis Pharma A/S (ASND) | 3.3% | 3.6% | +0.3 pts | +102K sh | +2% |
| Exited | Zymeworks Inc. | 0.1% | — | −0.1 pts | −1.71M sh | −100% |
| Increased | AnaptysBio, Inc. (ANAB) | 0.1% | 0.1% | +0.1 pts | +349K sh | +82% |
| New | Avidity Biosciences, Inc. (RNA) | — | 0.1% | +0.1 pts | +435K sh | new |
| Reduced | Krystal Biotech, Inc. (KRYS) | 0.2% | 0.1% | 0.0 pts | −119K sh | −28% |
| Increased | FibroGen, Inc. (FGEN) | 0.1% | 0.1% | +0.1 pts | +559K sh | +69% |
| Increased | DICE Therapeutics, Inc. (DICE) | 0.1% | 0.2% | +0.1 pts | +274K sh | +47% |
| Increased | Rhythm Pharmaceuticals, Inc. (RYTM) | 1.0% | 1.1% | +0.1 pts | +292K sh | +5% |
| New | Summit Therapeutics Inc. (SMMT) | — | 0.1% | +0.1 pts | +2M sh | new |
| New | Compass Therapeutics, Inc. (CMPX) | — | 0.0% | 0.0 pts | +1.56M sh | new |
| Reduced | Design Therapeutics, Inc. (DSGN) | 0.2% | 0.0% | −0.1 pts | −745K sh | −52% |
| Exited | Fulgent Genetics, Inc. (FLGT) | 0.0% | — | 0.0 pts | −167K sh | −100% |
| Increased | Stoke Therapeutics, Inc. (STOK) | 0.0% | 0.1% | 0.0 pts | +740K sh | +200% |
| Increased | Immatics N.V. (IMTX) | 0.3% | 0.3% | 0.0 pts | +763K sh | +17% |
| New | Biohaven Ltd. (BHVN) | — | 0.0% | 0.0 pts | +476K sh | new |
| Exited | Amarin Corporation plc (AMRN) | 0.0% | — | 0.0 pts | −5.38M sh | −100% |
| Increased | Cabaletta Bio, Inc. (CABA) | 0.0% | 0.1% | +0.1 pts | +682K sh | +103% |
| New | Roivant Sciences Ltd. (ROIV) | — | 0.0% | 0.0 pts | +717K sh | new |
| Exited | Surrozen, Inc. (SRZN) | 0.0% | — | 0.0 pts | −2.5M sh | −100% |
| Exited | Allakos Inc. (ALLK) | 0.0% | — | 0.0 pts | −703K sh | −100% |
| Exited | Eiger BioPharmaceuticals, Inc. (EIGR) | 0.0% | — | 0.0 pts | −540K sh | −100% |
| New | Praxis Precision Medicines, Inc. (PRAX) | — | 0.0% | 0.0 pts | +1.83M sh | new |
| New | Aravive, Inc. (ARAV) | — | 0.0% | 0.0 pts | +3.26M sh | new |
| Increased | Alector, Inc. (ALEC) | 0.0% | 0.0% | 0.0 pts | +443K sh | +185% |
| Increased | Century Therapeutics, Inc. (IPSC) | 0.0% | 0.0% | 0.0 pts | +779K sh | +210% |
| New | Xencor, Inc. (XNCR) | — | 0.0% | 0.0 pts | +123K sh | new |
| New | Kala Pharmaceuticals, Inc. (KALA) | — | 0.0% | 0.0 pts | +76,813 sh | new |
| Exited | Syndax Pharmaceuticals, Inc. (SNDX) | 0.0% | — | 0.0 pts | −111K sh | −100% |
| Exited | Otonomy, Inc. (OTIC) | 0.0% | — | 0.0 pts | −8.44M sh | −100% |
| Increased | Athira Pharma, Inc. (ATHA) | 0.0% | 0.0% | 0.0 pts | +839K sh | +81% |
| New | Vaxcyte, Inc. (PCVX) | — | 0.0% | 0.0 pts | +48,885 sh | new |
| Increased | HOOKIPA Pharma Inc. (HOOK) | 0.0% | 0.0% | 0.0 pts | +1.08M sh | +45% |
| Increased | Instil Bio, Inc. (TIL) | 0.1% | 0.0% | −0.1 pts | +1.38M sh | +35% |
| Reduced | Kronos Bio, Inc. (KRON) | 0.0% | 0.0% | 0.0 pts | −341K sh | −22% |
The 50 largest of 55 changes, by size of the trade. Full holdings for this quarter.
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 — 87.1% of the equity book
Changes in the top 10 this quarter: MDGL entered · IMCR entered · GBT left · KOD left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | Seagen Inc. (SGEN) | 42.2% | 36.3% | |
| 2 | Incyte Corporation (INCY) | 15.8% | 17.5% | |
| 3 | BeiGene, Ltd. (ONC) | 10.3% | 15.4% | |
| 4 | BioMarin Pharmaceutical Inc. (BMRN) | 4.2% | 4.7% | |
| 5 | ACADIA Pharmaceuticals Inc. (ACAD) | 4.5% | 4.0% | |
| 6 | Ascendis Pharma A/S (ASND) | 3.3% | 3.6% | |
| 7 | Madrigal Pharmaceuticals, Inc. (MDGL) | 0.6% | 2.7% | Entered the top 10 |
| 8 | Rhythm Pharmaceuticals, Inc. (RYTM) | 1.0% | 1.1% | |
| 9 | BioCryst Pharmaceuticals, Inc. (BCRX) | 1.1% | 0.9% | |
| 10 | Immunocore Holdings plc (IMCR) | 0.8% | 0.9% | Entered the top 10 |
| — | Global Blood Therapeutics, Inc. (GBT) | 1.7% | 0.0% | Left the top 10 |
| — | Kodiak Sciences Inc. (KOD) | 0.9% | 0.7% | 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).