BAKER BROS ADVISORS LP's Q1 2023 13F: 7 new positions, 13 exits
Form 13F-HR for the quarter ended Mar 31, 2023 · filed May 15, 2023 · 105 reported positions · accession 0001104659-23-060720
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Exited | Ascendis Pharma A/S (ASND) | 3.6% | — | −3.6 pts | −4.95M sh | −100% |
| Reduced | BioMarin Pharmaceutical Inc. (BMRN) | 4.7% | 2.0% | −2.7 pts | −3.81M sh | −50% |
| Exited | Horizon Therapeutics Public Ltd Co (HZNP) | 0.7% | — | −0.7 pts | −970K sh | −100% |
| Increased | Revolution Medicines, Inc. (RVMD) | 0.0% | 0.3% | +0.3 pts | +2.47M sh | +1111% |
| Increased | SpringWorks Therapeutics, Inc. (SWTX) | 0.2% | 0.4% | +0.1 pts | +1.22M sh | +80% |
| Increased | Roivant Sciences Ltd. (ROIV) | 0.0% | 0.2% | +0.2 pts | +4.06M sh | +567% |
| Exited | Travere Therapeutics, Inc. (TVTX) | 0.2% | — | −0.2 pts | −1.23M sh | −100% |
| Reduced | Chinook Therapeutics, Inc. (KDNY) | 0.4% | 0.2% | −0.2 pts | −1.08M sh | −43% |
| Increased | FibroGen, Inc. (FGEN) | 0.1% | 0.3% | +0.1 pts | +1.26M sh | +92% |
| Exited | CymaBay Therapeutics, Inc. (CBAY) | 0.1% | — | −0.1 pts | −2.17M sh | −100% |
| New | Blueprint Medicines Corporation (BPMC) | — | 0.1% | +0.1 pts | +334K sh | new |
| Exited | Zymeworks Inc. (ZYME) | 0.1% | — | −0.1 pts | −1.71M sh | −100% |
| Exited | Altimmune, Inc. (ALT) | 0.1% | — | −0.1 pts | −654K sh | −100% |
| Reduced | IDEAYA Biosciences, Inc. (IDYA) | 0.2% | 0.1% | −0.1 pts | −836K sh | −50% |
| Exited | CinCor Pharma, Inc. (CINC) | 0.1% | — | −0.1 pts | −807K sh | −100% |
| Exited | Reata Pharmaceuticals, Inc. (RETA) | 0.1% | — | −0.1 pts | −224K sh | −100% |
| Increased | Avidity Biosciences, Inc. (RNA) | 0.1% | 0.1% | 0.0 pts | +569K sh | +131% |
| Increased | Stoke Therapeutics, Inc. (STOK) | 0.1% | 0.1% | 0.0 pts | +1.01M sh | +91% |
| Increased | Fate Therapeutics, Inc. (FATE) | 0.0% | 0.1% | 0.0 pts | +1.46M sh | +675% |
| New | Allogene Therapeutics, Inc. (ALLO) | — | 0.0% | 0.0 pts | +1.58M sh | new |
| New | Mersana Therapeutics, Inc. (MRSN) | — | 0.0% | 0.0 pts | +1.89M sh | new |
| Increased | Summit Therapeutics Inc. (SMMT) | 0.1% | 0.1% | 0.0 pts | +4.3M sh | +215% |
| Exited | Biohaven Ltd. (BHVN) | 0.0% | — | 0.0 pts | −476K sh | −100% |
| New | Geron Corporation (GERN) | — | 0.0% | 0.0 pts | +3.06M sh | new |
| New | Sana Biotechnology, Inc. (SANA) | — | 0.0% | 0.0 pts | +2M sh | new |
| Increased | Sera Prognostics, Inc. (SERA) | 0.0% | 0.0% | 0.0 pts | +1.59M sh | +788% |
| Increased | Insmed Incorporated (INSM) | 0.0% | 0.0% | 0.0 pts | +323K sh | +1619% |
| Increased | DICE Therapeutics, Inc. (DICE) | 0.2% | 0.2% | 0.0 pts | +174K sh | +20% |
| New | Relay Therapeutics, Inc. (RLAY) | — | 0.0% | 0.0 pts | +284K sh | new |
| Exited | Cyteir Therapeutics, Inc. (CYT) | 0.0% | — | 0.0 pts | −2.49M sh | −100% |
| Reduced | Vor Biopharma Inc. (VOR) | 0.1% | 0.0% | 0.0 pts | −832K sh | −57% |
| Increased | 2seventy bio, Inc. (TSVT) | 0.1% | 0.1% | 0.0 pts | +435K sh | +21% |
| New | Monte Rosa Therapeutics, Inc. (GLUE) | — | 0.0% | 0.0 pts | +375K sh | new |
| Increased | Rhythm Pharmaceuticals, Inc. (RYTM) | 1.1% | 0.6% | −0.5 pts | +144K sh | +2% |
| Increased | Leap Therapeutics, Inc. (LPTX) | 0.0% | 0.0% | 0.0 pts | +6.87M sh | +1227% |
| Exited | Kronos Bio, Inc. (KRON) | 0.0% | — | 0.0 pts | −1.2M sh | −100% |
| Increased | Alector, Inc. (ALEC) | 0.0% | 0.0% | 0.0 pts | +283K sh | +41% |
| Increased | Incyte Corporation (INCY) | 17.5% | 14.2% | −3.2 pts | +20,429 sh | 0% |
| Increased | Athira Pharma, Inc. (ATHA) | 0.0% | 0.0% | 0.0 pts | +471K sh | +25% |
| Increased | Invitae Corporation (NVTA) | 0.1% | 0.1% | 0.0 pts | +479K sh | +6% |
| Reduced | Verastem, Inc. (VSTM) | 0.1% | 0.1% | 0.0 pts | −1.47M sh | −5% |
| Exited | Kezar Life Sciences, Inc. (KZR) | 0.0% | — | 0.0 pts | −61,946 sh | −100% |
| Reduced | Design Therapeutics, Inc. (DSGN) | 0.0% | 0.0% | 0.0 pts | −65,247 sh | −9% |
| Increased | Seagen Inc. (SGEN) | 36.3% | 51.7% | +15.4 pts | +1,503 sh | 0% |
| Increased | ACADIA Pharmaceuticals Inc. (ACAD) | 4.0% | 4.3% | +0.3 pts | +15,000 sh | 0% |
| Reduced | Aerovate Therapeutics, Inc. (AVTE) | 0.3% | 0.2% | −0.1 pts | −13,389 sh | −1% |
| Increased | Biomea Fusion, Inc. (BMEA) | 0.1% | 0.4% | +0.2 pts | +4,390 sh | 0% |
| Increased | Praxis Precision Medicines, Inc. (PRAX) | 0.0% | 0.0% | 0.0 pts | +49,600 sh | +3% |
| Exited | aTyr Pharma, Inc. (ATYR) | 0.0% | — | 0.0 pts | −8,565 sh | −100% |
| Increased | IGM Biosciences, Inc. (IGMS) | 0.3% | 0.2% | −0.1 pts | +554 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 — 90.4% of the equity book
Changes in the top 10 this quarter: KOD entered · ASND left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | Seagen Inc. (SGEN) | 36.3% | 51.7% | |
| 2 | Incyte Corporation (INCY) | 17.5% | 14.2% | |
| 3 | BeiGene, Ltd. (ONC) | 15.4% | 13.7% | |
| 4 | ACADIA Pharmaceuticals Inc. (ACAD) | 4.0% | 4.3% | |
| 5 | Madrigal Pharmaceuticals, Inc. (MDGL) | 2.7% | 2.0% | |
| 6 | BioMarin Pharmaceutical Inc. (BMRN) | 4.7% | 2.0% | |
| 7 | Immunocore Holdings plc (IMCR) | 0.9% | 0.7% | |
| 8 | Rhythm Pharmaceuticals, Inc. (RYTM) | 1.1% | 0.6% | |
| 9 | Kodiak Sciences Inc. (KOD) | 0.7% | 0.6% | Entered the top 10 |
| 10 | BioCryst Pharmaceuticals, Inc. (BCRX) | 0.9% | 0.6% | |
| — | Ascendis Pharma A/S (ASND) | 3.6% | 0.0% | 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).