BAKER BROS ADVISORS LP's Q2 2023 13F: 7 new positions, 6 exits
Form 13F-HR for the quarter ended Jun 30, 2023 · filed Aug 14, 2023 · 106 reported positions · accession 0001104659-23-091343
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Reduced | Seagen Inc. (SGEN) | 51.7% | 50.0% | −1.7 pts | −2.36M sh | −5% |
| Increased | Roivant Sciences Ltd. (ROIV) | 0.2% | 0.6% | +0.4 pts | +4.65M sh | +97% |
| Increased | AbCellera Biologics Inc. (ABCL) | 0.4% | 0.6% | +0.2 pts | +6M sh | +57% |
| Increased | Kymera Therapeutics, Inc. (KYMR) | 0.5% | 0.6% | +0.1 pts | +1.5M sh | +52% |
| New | ImmunoGen, Inc. (IMGN) | — | 0.2% | +0.2 pts | +1.52M sh | new |
| Increased | ACADIA Pharmaceuticals Inc. (ACAD) | 4.3% | 6.0% | +1.7 pts | +926K sh | +2% |
| Increased | Monte Rosa Therapeutics, Inc. (GLUE) | 0.0% | 0.1% | +0.1 pts | +2.65M sh | +706% |
| Reduced | Krystal Biotech, Inc. (KRYS) | 0.1% | 0.1% | 0.0 pts | −133K sh | −44% |
| Increased | Ultragenyx Pharmaceutical Inc. (RARE) | 0.1% | 0.2% | +0.1 pts | +312K sh | +66% |
| Exited | Blueprint Medicines Corporation (BPMC) | 0.1% | — | −0.1 pts | −334K sh | −100% |
| New | Day One Biopharmaceuticals, Inc. (DAWN) | — | 0.1% | +0.1 pts | +1M sh | new |
| New | Cogent Biosciences, Inc. (COGT) | — | 0.1% | +0.1 pts | +980K sh | new |
| Increased | Relay Therapeutics, Inc. (RLAY) | 0.0% | 0.1% | +0.1 pts | +876K sh | +308% |
| Increased | Denali Therapeutics Inc. (DNLI) | 0.1% | 0.3% | +0.1 pts | +367K sh | +34% |
| Reduced | FibroGen, Inc. (FGEN) | 0.3% | 0.0% | −0.3 pts | −2.4M sh | −91% |
| Increased | SpringWorks Therapeutics, Inc. (SWTX) | 0.4% | 0.5% | +0.1 pts | +246K sh | +9% |
| Increased | IDEAYA Biosciences, Inc. (IDYA) | 0.1% | 0.1% | +0.1 pts | +229K sh | +28% |
| Increased | Immatics N.V. (IMTX) | 0.2% | 0.4% | +0.2 pts | +454K sh | +9% |
| New | Mereo BioPharma Group PLC (MREO) | — | 0.0% | 0.0 pts | +3.55M sh | new |
| New | Gracell Biotechnologies Inc. (GRCL) | — | 0.0% | 0.0 pts | +1M sh | new |
| New | Leap Therapeutics, Inc. (CYPH) | — | 0.0% | 0.0 pts | +1.17M sh | new |
| Increased | Cabaletta Bio, Inc. (CABA) | 0.1% | 0.1% | +0.1 pts | +250K sh | +19% |
| Reduced | Vera Therapeutics, Inc. (VERA) | 0.0% | 0.0% | 0.0 pts | −187K sh | −56% |
| Reduced | Mersana Therapeutics, Inc. (MRSN) | 0.0% | 0.0% | 0.0 pts | −800K sh | −42% |
| Increased | Athira Pharma, Inc. (ATHA) | 0.0% | 0.1% | 0.0 pts | +803K sh | +34% |
| Exited | Leap Therapeutics, Inc. (LPTX) | 0.0% | — | 0.0 pts | −7.43M sh | −100% |
| Reduced | Avidity Biosciences, Inc. (RNA) | 0.1% | 0.1% | 0.0 pts | −205K sh | −20% |
| Exited | Atara Biotherapeutics, Inc. (ATRA) | 0.0% | — | 0.0 pts | −744K sh | −100% |
| Exited | Veru Inc. (VERU) | 0.0% | — | 0.0 pts | −1.61M sh | −100% |
| New | Perspective Therapeutics, Inc. (CATX) | — | 0.0% | 0.0 pts | +2.32M sh | new |
| Exited | TCR2 Therapeutics Inc. (TCRR) | 0.0% | — | 0.0 pts | −753K sh | −100% |
| Increased | Adaptimmune Therapeutics plc (ADAPY) | 0.1% | 0.1% | 0.0 pts | +1.14M sh | +12% |
| Increased | HOOKIPA Pharma Inc. (HOOK) | 0.0% | 0.0% | 0.0 pts | +950K sh | +27% |
| Reduced | Design Therapeutics, Inc. (DSGN) | 0.0% | 0.0% | 0.0 pts | −127K sh | −20% |
| Increased | Kala Pharmaceuticals, Inc. (KALA) | 0.0% | 0.0% | 0.0 pts | +39,400 sh | +51% |
| Reduced | Nkarta, Inc. (NKTX) | 0.0% | 0.0% | 0.0 pts | −129K sh | −32% |
| Increased | Incyte Corporation (INCY) | 14.2% | 13.1% | −1.1 pts | +2,656 sh | 0% |
| Increased | Stoke Therapeutics, Inc. (STOK) | 0.1% | 0.1% | 0.0 pts | +14,822 sh | +1% |
| Increased | Kiniksa Pharmaceuticals, Ltd. (KNSA) | 0.2% | 0.2% | +0.1 pts | +10,000 sh | 0% |
| Exited | Bellicum Pharmaceuticals, Inc. (BLCM) | 0.0% | — | 0.0 pts | −249K sh | −100% |
| Reduced | Sera Prognostics, Inc. (SERA) | 0.0% | 0.0% | 0.0 pts | −11,565 sh | −1% |
| Reduced | Achilles Therapeutics plc (ACHL) | 0.0% | 0.0% | 0.0 pts | −34,217 sh | −1% |
| Reduced | Vincerx Pharma, Inc. (VINC) | 0.0% | 0.0% | 0.0 pts | −15,800 sh | −7% |
| Increased | IGM Biosciences, Inc. (IGMS) | 0.2% | 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
† Security identifier (CUSIP) changed — read as one continuing position, not an exit and a new position:
- Talis Biomedical Corporation (TLIS): 87424L108 → 87424L207, 7.62M → 7.62M shares
- Verastem, Inc. (VSTM): 92337C104 → 92337C203, 25.52M → 1.34M shares (share count changed with the identifier; not shown as a trade)
Top 10 positions — 88.1% of the equity book
Changes in the top 10 this quarter: AKRO entered · ARGX entered · RYTM left · BCRX left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | Seagen Inc. (SGEN) | 51.7% | 50.0% | |
| 2 | Incyte Corporation (INCY) | 14.2% | 13.1% | |
| 3 | BeiGene, Ltd. (ONC) | 13.7% | 12.1% | |
| 4 | ACADIA Pharmaceuticals Inc. (ACAD) | 4.3% | 6.0% | |
| 5 | Madrigal Pharmaceuticals, Inc. (MDGL) | 2.0% | 2.1% | |
| 6 | BioMarin Pharmaceutical Inc. (BMRN) | 2.0% | 1.9% | |
| 7 | Immunocore Holdings plc (IMCR) | 0.7% | 0.9% | |
| 8 | Kodiak Sciences Inc. (KOD) | 0.6% | 0.7% | |
| 9 | Akero Therapeutics, Inc. (AKRO) | 0.5% | 0.6% | Entered the top 10 |
| 10 | argenx SE (ARGX) | 0.6% | 0.6% | Entered the top 10 |
| — | Rhythm Pharmaceuticals, Inc. (RYTM) | 0.6% | 0.6% | Left the top 10 |
| — | BioCryst Pharmaceuticals, Inc. (BCRX) | 0.6% | 0.5% | 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).