BAKER BROS ADVISORS LP's Q2 2024 13F: 11 new positions, 5 exits
Form 13F-HR for the quarter ended Jun 30, 2024 · filed Aug 14, 2024 · 93 reported positions · accession 0001104659-24-089606
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Reduced | Incyte Corporation (INCY) | 25.9% | 24.3% | −1.6 pts | −5.44M sh | −15% |
| Increased | Insmed Incorporated (INSM) | 0.1% | 3.1% | +3.0 pts | +3.23M sh | +943% |
| New | Summit Therapeutics Inc. (SMMT) | — | 2.4% | +2.4 pts | +23.22M sh | new |
| New | Alkermes plc (ALKS) | — | 1.3% | +1.3 pts | +4.18M sh | new |
| Increased | Bicycle Therapeutics plc (BCYC) | 1.5% | 2.5% | +0.9 pts | +4.46M sh | +90% |
| Reduced | BioCryst Pharmaceuticals, Inc. (BCRX) | 0.6% | 0.0% | −0.6 pts | −10.05M sh | −99% |
| Reduced | Roivant Sciences Ltd. (ROIV) | 1.0% | 0.4% | −0.6 pts | −4.62M sh | −62% |
| Reduced | Akero Therapeutics, Inc. (AKRO) | 0.9% | 0.3% | −0.5 pts | −1.62M sh | −60% |
| Reduced | Cerevel Therapeutics Holdings, Inc. (CERE) | 0.8% | 0.4% | −0.5 pts | −916K sh | −57% |
| New | Alumis Inc. (ALMS) | — | 0.3% | +0.3 pts | +1.56M sh | new |
| New | Merus N.V. (MRUS) | — | 0.2% | +0.2 pts | +300K sh | new |
| Reduced | argenx SE (ARGX) | 0.7% | 0.6% | −0.1 pts | −39,311 sh | −26% |
| Increased | Dyne Therapeutics, Inc. (DYN) | 0.1% | 0.3% | +0.2 pts | +387K sh | +136% |
| Increased | Stoke Therapeutics, Inc. (STOK) | 0.6% | 0.8% | +0.2 pts | +1M sh | +30% |
| Reduced | Adaptimmune Therapeutics plc (ADAPY) | 0.2% | 0.0% | −0.2 pts | −8.44M sh | −78% |
| New | Contineum Therapeutics, Inc. (CTNM) | — | 0.1% | +0.1 pts | +313K sh | new |
| New | CRISPR Therapeutics AG (CRSP) | — | 0.1% | +0.1 pts | +100K sh | new |
| Increased | Celcuity Inc. (CELC) | 0.4% | 0.4% | 0.0 pts | +323K sh | +21% |
| New | Centessa Pharmaceuticals plc (CNTA) | — | 0.1% | +0.1 pts | +549K sh | new |
| New | Crinetics Pharmaceuticals, Inc. (CRNX) | — | 0.1% | +0.1 pts | +104K sh | new |
| Increased | Replimune Group, Inc. (REPL) | 1.0% | 1.2% | +0.2 pts | +500K sh | +5% |
| Increased | KALA BIO, Inc. (KALA) | 0.0% | 0.1% | +0.1 pts | +625K sh | +234% |
| New | Alector, Inc. (ALEC) | — | 0.1% | +0.1 pts | +927K sh | new |
| New | Skye Bioscience, Inc. (SKYE) | — | 0.1% | +0.1 pts | +500K sh | new |
| Increased | Neumora Therapeutics, Inc. (NMRA) | 0.1% | 0.1% | 0.0 pts | +401K sh | +63% |
| Increased | Fate Therapeutics, Inc. (FATE) | 0.2% | 0.1% | 0.0 pts | +1.18M sh | +65% |
| New | Arcturus Therapeutics Holdings Inc. (ARCT) | — | 0.0% | 0.0 pts | +151K sh | new |
| Exited | Alpine Immune Sciences, Inc. (ALPN) | 0.0% | — | 0.0 pts | −81,578 sh | −100% |
| Exited | 4D Molecular Therapeutics, Inc. (FDMT) | 0.0% | — | 0.0 pts | −100K sh | −100% |
| Reduced | Sage Therapeutics, Inc. (SAGE) | 0.1% | 0.0% | −0.1 pts | −236K sh | −58% |
| Increased | Generation Bio Co. (GBIO) | 0.0% | 0.0% | 0.0 pts | +836K sh | +225% |
| Reduced | Aerovate Therapeutics, Inc. (AVTE) | 0.6% | 0.0% | −0.6 pts | −1.05M sh | −63% |
| Increased | Madrigal Pharmaceuticals, Inc. (MDGL) | 6.6% | 7.2% | +0.6 pts | +4,792 sh | 0% |
| Increased | Immunovant, Inc. (IMVT) | 0.2% | 0.2% | 0.0 pts | +39,709 sh | +9% |
| Exited | Mural Oncology plc (MURA) | 0.0% | — | 0.0 pts | −223K sh | −100% |
| Increased | Revolution Medicines, Inc. (RVMD) | 3.1% | 3.8% | +0.8 pts | +19,841 sh | 0% |
| Increased | Protara Therapeutics, Inc. (TARA) | 0.0% | 0.0% | 0.0 pts | +337K sh | +169% |
| Exited | Cabaletta Bio, Inc. (CABA) | 0.0% | — | 0.0 pts | −13,331 sh | −100% |
| Increased | ACADIA Pharmaceuticals Inc. (ACAD) | 9.9% | 9.1% | −0.9 pts | +13,304 sh | 0% |
| Exited | Perspective Therapeutics, Inc. (CATX) | 0.0% | — | 0.0 pts | −150K sh | −100% |
| Increased | Design Therapeutics, Inc. (DSGN) | 0.1% | 0.1% | 0.0 pts | +33,174 sh | +2% |
| Reduced | Achilles Therapeutics plc (ACHL) | 0.0% | 0.0% | 0.0 pts | −100K sh | −8% |
| Increased | IGM Biosciences, Inc. (IGMS) | 0.5% | 0.4% | −0.1 pts | +1,994 sh | 0% |
| Reduced | Opthea Limited (CYVNY) | 0.1% | 0.1% | −0.1 pts | −4,204 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:
- HOOKIPA Pharma Inc. (HOOK): 43906K100 → 43906K209, 8.13M → 8.13M shares
- DBV Technologies S.A. (DBVT): 23306J101 → 23306J200, 14.61M → 7.31M shares (share count changed with the identifier; not shown as a trade)
- Kiniksa Pharmaceuticals International, plc (KNSA): G5269C101 → G52694109, 2.81M → 2.82M shares
Top 10 positions — 77.7% of the equity book
Changes in the top 10 this quarter: INSM entered · SMMT entered · ABCL left · EWTX left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | Incyte Corporation (INCY) | 25.9% | 24.3% | |
| 2 | BeiGene, Ltd. (ONC) | 20.7% | 19.6% | |
| 3 | ACADIA Pharmaceuticals Inc. (ACAD) | 9.9% | 9.1% | |
| 4 | Madrigal Pharmaceuticals, Inc. (MDGL) | 6.6% | 7.2% | |
| 5 | Revolution Medicines, Inc. (RVMD) | 3.1% | 3.8% | |
| 6 | Rhythm Pharmaceuticals, Inc. (RYTM) | 3.5% | 3.4% | |
| 7 | Insmed Incorporated (INSM) | 0.1% | 3.1% | Entered the top 10 |
| 8 | Bicycle Therapeutics plc (BCYC) | 1.5% | 2.5% | |
| 9 | Summit Therapeutics Inc. (SMMT) | 0.0% | 2.4% | Entered the top 10 |
| 10 | Kymera Therapeutics, Inc. (KYMR) | 3.0% | 2.3% | |
| — | AbCellera Biologics Inc. (ABCL) | 1.6% | 1.1% | Left the top 10 |
| — | Edgewise Therapeutics, Inc. (EWTX) | 1.3% | 1.4% | 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).