BAKER BROS ADVISORS LP's Q1 2024 13F: 12 new positions, 7 exits
Form 13F-HR for the quarter ended Mar 31, 2024 · filed May 15, 2024 · 87 reported positions · accession 0001104659-24-061996
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Exited | Mirati Therapeutics, Inc. (MRTX) | 2.8% | — | −2.8 pts | −4.12M sh | −100% |
| Increased | Bicycle Therapeutics plc (BCYC) | 0.4% | 1.5% | +1.2 pts | +3.15M sh | +176% |
| Increased | Revolution Medicines, Inc. (RVMD) | 1.7% | 3.1% | +1.3 pts | +2.4M sh | +47% |
| Reduced | Immunocore Holdings plc (IMCR) | 2.0% | 1.2% | −0.8 pts | −1.01M sh | −40% |
| Increased | Edgewise Therapeutics, Inc. (EWTX) | 0.4% | 1.3% | +0.9 pts | +2.73M sh | +88% |
| Increased | Denali Therapeutics Inc. (DNLI) | 0.6% | 1.0% | +0.3 pts | +1.12M sh | +43% |
| Increased | Celcuity Inc. (CELC) | 0.1% | 0.4% | +0.3 pts | +1.02M sh | +190% |
| Increased | AbCellera Biologics Inc. (ABCL) | 1.5% | 1.6% | +0.1 pts | +4.62M sh | +20% |
| Exited | Gracell Biotechnologies Inc. (GRCL) | 0.2% | — | −0.2 pts | −2.08M sh | −100% |
| Increased | Stoke Therapeutics, Inc. (STOK) | 0.1% | 0.6% | +0.4 pts | +1.34M sh | +66% |
| Exited | Day One Biopharmaceuticals, Inc. (DAWN) | 0.2% | — | −0.2 pts | −1M sh | −100% |
| New | Fate Therapeutics, Inc. (FATE) | — | 0.2% | +0.2 pts | +1.82M sh | new |
| Exited | ARS Pharmaceuticals, Inc. (SPRY) | 0.1% | — | −0.1 pts | −2.01M sh | −100% |
| Reduced | Perspective Therapeutics, Inc. (CATX) | 0.0% | 0.0% | 0.0 pts | −7.49M sh | −98% |
| New | Neumora Therapeutics, Inc. (NMRA) | — | 0.1% | +0.1 pts | +634K sh | new |
| Increased | Akero Therapeutics, Inc. (AKRO) | 0.6% | 0.9% | +0.2 pts | +345K sh | +15% |
| New | Dyne Therapeutics, Inc. (DYN) | — | 0.1% | +0.1 pts | +285K sh | new |
| New | Sage Therapeutics, Inc. (SAGE) | — | 0.1% | +0.1 pts | +407K sh | new |
| Increased | Xencor, Inc. (XNCR) | 0.1% | 0.2% | +0.1 pts | +300K sh | +122% |
| Increased | Immatics N.V. (IMTX) | 0.7% | 0.8% | +0.1 pts | +605K sh | +10% |
| Increased | IGM Biosciences, Inc. (IGMS) | 0.4% | 0.5% | +0.1 pts | +397K sh | +11% |
| Increased | Sana Biotechnology, Inc. (SANA) | 0.1% | 0.3% | +0.2 pts | +381K sh | +19% |
| New | Alpine Immune Sciences, Inc. (ALPN) | — | 0.0% | 0.0 pts | +81,578 sh | new |
| New | 4D Molecular Therapeutics, Inc. (FDMT) | — | 0.0% | 0.0 pts | +100K sh | new |
| New | NewAmsterdam Pharma Company N.V. (NAMS) | — | 0.0% | 0.0 pts | +96,827 sh | new |
| New | vTv Therapeutics, Inc. (VTVT) | — | 0.0% | 0.0 pts | +97,314 sh | new |
| New | Enliven Therapeutics, Inc. (ELVN) | — | 0.0% | 0.0 pts | +115K sh | new |
| Reduced | Roivant Sciences Ltd. (ROIV) | 1.0% | 1.0% | 0.0 pts | −179K sh | −2% |
| Reduced | Opthea Limited (CYVNY) | 0.1% | 0.1% | 0.0 pts | −411K sh | −16% |
| New | Generation Bio Co. (GBIO) | — | 0.0% | 0.0 pts | +371K sh | new |
| Reduced | Achilles Therapeutics plc (ACHL) | 0.0% | 0.0% | 0.0 pts | −894K sh | −43% |
| New | Mural Oncology plc (MURA) | — | 0.0% | 0.0 pts | +223K sh | new |
| Exited | Invitae Corporation (NVTA) | 0.0% | — | 0.0 pts | −1.76M sh | −100% |
| Increased | Design Therapeutics, Inc. (DSGN) | 0.0% | 0.1% | 0.0 pts | +162K sh | +11% |
| Exited | Aadi Bioscience, Inc. (WHWK) | 0.0% | — | 0.0 pts | −252K sh | −100% |
| Reduced | Sagimet Biosciences Inc. (SGMT) | 0.1% | 0.1% | 0.0 pts | −74,620 sh | −5% |
| New | Acrivon Therapeutics, Inc. (ACRV) | — | 0.0% | 0.0 pts | +52,885 sh | new |
| Reduced | Adaptimmune Therapeutics plc (ADAPY) | 0.1% | 0.2% | +0.1 pts | −182K sh | −2% |
| Exited | Atreca, Inc. (BCEL) | 0.0% | — | 0.0 pts | −2.18M sh | −100% |
| Increased | Neurogene Inc. (NGNE) | 0.1% | 0.3% | +0.2 pts | +2,499 sh | +1% |
| Increased | Incyte Corporation (INCY) | 26.3% | 25.9% | −0.4 pts | +543 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:
- Praxis Precision Medicines, Inc. (PRAX): 74006W108 → 74006W207, 132K → 132K shares
Top 10 positions — 77.1% of the equity book
Changes in the top 10 this quarter: BCYC entered · EWTX entered · MRTX left · IMCR left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | Incyte Corporation (INCY) | 26.3% | 25.9% | |
| 2 | BeiGene, Ltd. (ONC) | 22.0% | 20.7% | |
| 3 | ACADIA Pharmaceuticals Inc. (ACAD) | 15.5% | 9.9% | |
| 4 | Madrigal Pharmaceuticals, Inc. (MDGL) | 5.3% | 6.6% | |
| 5 | Rhythm Pharmaceuticals, Inc. (RYTM) | 3.4% | 3.5% | |
| 6 | Revolution Medicines, Inc. (RVMD) | 1.7% | 3.1% | |
| 7 | Kymera Therapeutics, Inc. (KYMR) | 1.8% | 3.0% | |
| 8 | AbCellera Biologics Inc. (ABCL) | 1.5% | 1.6% | |
| 9 | Bicycle Therapeutics plc (BCYC) | 0.4% | 1.5% | Entered the top 10 |
| 10 | Edgewise Therapeutics, Inc. (EWTX) | 0.4% | 1.3% | Entered the top 10 |
| — | Mirati Therapeutics, Inc. (MRTX) | 2.8% | 0.0% | Left the top 10 |
| — | Immunocore Holdings plc (IMCR) | 2.0% | 1.2% | 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).