BAKER BROS ADVISORS LP's Q4 2023 13F: 5 new positions, 22 exits
Form 13F-HR for the quarter ended Dec 31, 2023 · filed Feb 14, 2024 · 82 reported positions · accession 0001104659-24-024053
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Exited | Seagen Inc. (SGEN) | 54.9% | — | −54.9 pts | −44.55M sh | −100% |
| Reduced | BeiGene, Ltd. (ONC) | 12.2% | 22.0% | +9.8 pts | −1.1M sh | −9% |
| Exited | BioMarin Pharmaceutical Inc. (BMRN) | 2.0% | — | −2.0 pts | −3.81M sh | −100% |
| Increased | Mirati Therapeutics, Inc. (MRTX) | 0.4% | 2.8% | +2.4 pts | +2.71M sh | +192% |
| Increased | Madrigal Pharmaceuticals, Inc. (MDGL) | 1.3% | 5.3% | +4.0 pts | +425K sh | +27% |
| Increased | Revolution Medicines, Inc. (RVMD) | 0.4% | 1.7% | +1.3 pts | +2.46M sh | +91% |
| New | Cerevel Therapeutics Holdings, Inc. (CERE) | — | 0.8% | +0.8 pts | +1.6M sh | new |
| Reduced | Roivant Sciences Ltd. (ROIV) | 0.8% | 1.0% | +0.2 pts | −4.28M sh | −36% |
| Increased | Replimune Group, Inc. (REPL) | 0.5% | 0.9% | +0.5 pts | +4.97M sh | +108% |
| Reduced | Cabaletta Bio, Inc. (CABA) | 0.1% | 0.0% | −0.1 pts | −1.58M sh | −99% |
| Exited | SpringWorks Therapeutics, Inc. (SWTX) | 0.4% | — | −0.4 pts | −3M sh | −100% |
| Increased | Kymera Therapeutics, Inc. (KYMR) | 0.4% | 1.8% | +1.4 pts | +1.25M sh | +26% |
| Increased | Sera Prognostics, Inc. (SERA) | 0.0% | 0.4% | +0.4 pts | +3.92M sh | +259% |
| Increased | Edgewise Therapeutics, Inc. (EWTX) | 0.0% | 0.4% | +0.4 pts | +2.06M sh | +197% |
| Increased | Bicycle Therapeutics plc (BCYC) | 0.1% | 0.4% | +0.3 pts | +947K sh | +112% |
| Reduced | BioCryst Pharmaceuticals, Inc. (BCRX) | 0.5% | 0.7% | +0.2 pts | −2.58M sh | −20% |
| Reduced | Rhythm Pharmaceuticals, Inc. (RYTM) | 0.9% | 3.4% | +2.5 pts | −304K sh | −5% |
| Increased | AbCellera Biologics Inc. (ABCL) | 0.6% | 1.5% | +1.0 pts | +2.15M sh | +10% |
| Increased | Xenon Pharmaceuticals Inc. (XENE) | 0.1% | 0.5% | +0.4 pts | +242K sh | +32% |
| Increased | Gracell Biotechnologies Inc. (GRCL) | 0.0% | 0.2% | +0.2 pts | +1.08M sh | +108% |
| New | Celldex Therapeutics, Inc. (CLDX) | — | 0.1% | +0.1 pts | +248K sh | new |
| New | Neurogene Inc. (NGNE) | — | 0.1% | +0.1 pts | +454K sh | new |
| Increased | Denali Therapeutics Inc. (DNLI) | 0.3% | 0.6% | +0.4 pts | +315K sh | +14% |
| Reduced | Aerovate Therapeutics, Inc. (AVTE) | 0.2% | 0.4% | +0.3 pts | −283K sh | −14% |
| Exited | Cogent Biosciences, Inc. (COGT) | 0.1% | — | −0.1 pts | −1.29M sh | −100% |
| Increased | Cerus Corporation (CERS) | 0.2% | 0.5% | +0.3 pts | +2.24M sh | +13% |
| Increased | Ultragenyx Pharmaceutical Inc. (RARE) | 0.3% | 0.8% | +0.5 pts | +100K sh | +7% |
| Exited | Pacific Biosciences of California, Inc. (PACB) | 0.1% | — | −0.1 pts | −1.13M sh | −100% |
| Increased | IGM Biosciences, Inc. (IGMS) | 0.2% | 0.4% | +0.2 pts | +533K sh | +17% |
| Exited | Heron Therapeutics, Inc. (HRTX) | 0.0% | — | 0.0 pts | −8.13M sh | −100% |
| Exited | Arvinas, Inc. (ARVN) | 0.0% | — | 0.0 pts | −413K sh | −100% |
| Increased | Verve Therapeutics, Inc. (VERV) | 0.1% | 0.3% | +0.2 pts | +275K sh | +19% |
| Exited | bluebird bio, Inc. (BLUE) | 0.0% | — | 0.0 pts | −2.5M sh | −100% |
| Increased | Sagimet Biosciences Inc. (SGMT) | 0.0% | 0.1% | 0.0 pts | +641K sh | +79% |
| Exited | Geron Corporation (GERN) | 0.0% | — | 0.0 pts | −3.06M sh | −100% |
| Exited | Alector, Inc. (ALEC) | 0.0% | — | 0.0 pts | −965K sh | −100% |
| Exited | Summit Therapeutics Inc. (SMMT) | 0.0% | — | 0.0 pts | −3.14M sh | −100% |
| Increased | Stoke Therapeutics, Inc. (STOK) | 0.0% | 0.1% | +0.1 pts | +544K sh | +37% |
| Increased | Taysha Gene Therapies, Inc. (TSHA) | 0.0% | 0.1% | 0.0 pts | +1.5M sh | +60% |
| Increased | Xencor, Inc. (XNCR) | 0.0% | 0.1% | 0.0 pts | +122K sh | +99% |
| Exited | Morphic Holding, Inc. (MORF) | 0.0% | — | 0.0 pts | −216K sh | −100% |
| Exited | Neoleukin Therapeutics, Inc. (NLTX) | 0.0% | — | 0.0 pts | −1.22M sh | −100% |
| Exited | Natera, Inc. (NTRA) | 0.0% | — | 0.0 pts | −100K sh | −100% |
| Increased | Immatics N.V. (IMTX) | 0.4% | 0.7% | +0.3 pts | +198K sh | +4% |
| Reduced | Aadi Bioscience, Inc. (WHWK) | 0.0% | 0.0% | 0.0 pts | −738K sh | −75% |
| Reduced | Century Therapeutics, Inc. (IPSC) | 0.0% | 0.0% | 0.0 pts | −352K sh | −31% |
| Exited | Affimed N.V. (AFMD) | 0.0% | — | 0.0 pts | −4.45M sh | −100% |
| Exited | Instil Bio, Inc. (TIL) | 0.0% | — | 0.0 pts | −4.7M sh | −100% |
| New | Pfizer Inc. (PFE) | — | 0.0% | 0.0 pts | +35,000 sh | new |
| Exited | AnaptysBio, Inc. (ANAB) | 0.0% | — | 0.0 pts | −106K sh | −100% |
The 50 largest of 62 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 — 82.2% of the equity book
Changes in the top 10 this quarter: MRTX entered · KYMR entered · RVMD entered · ABCL entered · SGEN left · BMRN left · ROIV left · AKRO left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | Incyte Corporation (INCY) | 12.1% | 26.3% | |
| 2 | BeiGene, Ltd. (ONC) | 12.2% | 22.0% | |
| 3 | ACADIA Pharmaceuticals Inc. (ACAD) | 5.2% | 15.5% | |
| 4 | Madrigal Pharmaceuticals, Inc. (MDGL) | 1.3% | 5.3% | |
| 5 | Rhythm Pharmaceuticals, Inc. (RYTM) | 0.9% | 3.4% | |
| 6 | Mirati Therapeutics, Inc. (MRTX) | 0.4% | 2.8% | Entered the top 10 |
| 7 | Immunocore Holdings plc (IMCR) | 0.8% | 2.0% | |
| 8 | Kymera Therapeutics, Inc. (KYMR) | 0.4% | 1.8% | Entered the top 10 |
| 9 | Revolution Medicines, Inc. (RVMD) | 0.4% | 1.7% | Entered the top 10 |
| 10 | AbCellera Biologics Inc. (ABCL) | 0.6% | 1.5% | Entered the top 10 |
| — | Seagen Inc. (SGEN) | 54.9% | 0.0% | Left the top 10 |
| — | BioMarin Pharmaceutical Inc. (BMRN) | 2.0% | 0.0% | Left the top 10 |
| — | Roivant Sciences Ltd. (ROIV) | 0.8% | 1.0% | Left the top 10 |
| — | Akero Therapeutics, Inc. (AKRO) | 0.7% | 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).