RA CAPITAL MANAGEMENT, L.P.
Institutional investor · Portfolio as of Q2 2025
Top Holdings63 positions
Stock | Shares | Value | Weight | Avg Buy | Est. P&L | Held | Conviction |
|---|---|---|---|---|---|---|---|
ASCENDIS PHARMA A/S | 10.3M | $1.8B | 29.9% | $95.48 | +80.38% | 27 qtrssince 2018-Q4 | Unchanged 0 |
VAXCYTE INC | 12M | $389M | 6.6% | $49.07 | -33.60% | 21 qtrssince 2020-Q2 | Decreased 0 |
RHYTHM PHARMACEUTICALS INC | 5.6M | $351.4M | 5.9% | $25.49 | +146.14% | 27 qtrssince 2018-Q4 | Decreased 0 |
JANUX THERAPEUTICS INC | 11.2M | $258.5M | 4.4% | $27.88 | -16.96% | 17 qtrssince 2021-Q2 | Unchanged 0 |
| 7.3M | $206.4M | 3.5% | $15.96 | +81.84% | 16 qtrssince 2021-Q3 | Increased 64 | |
ARCELLX INC | 3M | $200M | 3.4% | $65.62 | -0.42% | 5 qtrssince 2024-Q2 | Unchanged 0 |
89BIO INC | 19.9M | $195.3M | 3.3% | — | — | 23 qtrssince 2019-Q4 | Unchanged 0 |
ARS PHARMACEUTICALS INC | 10.9M | $189.5M | 3.2% | $5.93 | +207.06% | 11 qtrssince 2022-Q4 | Unchanged 0 |
NewAmsterdam Pharma Company N.V. | 10.1M | $183.6M | 3.1% | $14.11 | +31.63% | 11 qtrssince 2022-Q4 | Unchanged 0 |
SIONNA THERAPEUTICS INC | 10.4M | $181.2M | 3.1% | $11.56 | +37.02% | 2 qtrssince 2025-Q1 | Unchanged 0 |
CIDARA THERAPEUTICS INC | 3.4M | $163.9M | 2.8% | $38.56 | +28.24% | 4 qtrssince 2024-Q3 | Increased 84 |
EDGEWISE THERAPEUTICS INC | 9.9M | $129.8M | 2.2% | $17.73 | -25.72% | 6 qtrssince 2024-Q1 | Increased 58 |
LENZ THERAPEUTICS INC | 4.2M | $122.5M | 2.1% | $22.33 | +35.15% | 6 qtrssince 2024-Q1 | Unchanged 0 |
WAVE LIFE SCIENCES LTD | 18.2M | $118.3M | 2.0% | $19.79 | -66.30% | 27 qtrssince 2018-Q4 | Unchanged 0 |
TYRA BIOSCIENCES INC | 12.2M | $116.7M | 2.0% | $15.72 | -42.12% | 16 qtrssince 2021-Q3 | Increased 54 |
GH RESEARCH PLC | 7.7M | $93.6M | 1.6% | $16.40 | -24.13% | 17 qtrssince 2021-Q2 | Increased 52 |
DYNE THERAPEUTICS INC | 9.7M | $92.5M | 1.6% | $23.54 | +11.08% | 6 qtrssince 2024-Q1 | Unchanged 0 |
GERON CORP | 60.4M | $85.1M | 1.4% | $1.88 | -20.95% | 21 qtrssince 2020-Q2 | Unchanged 0 |
DISC MEDICINE INC | 1.6M | $83.5M | 1.4% | $52.36 | +4.09% | 2 qtrssince 2025-Q1 | Unchanged 0 |
MINERALYS THERAPEUTICS INC | 6.1M | $83.2M | 1.4% | $14.70 | -6.71% | 10 qtrssince 2023-Q1 | Unchanged 0 |
RA CAPITAL MANAGEMENT, L.P. manages $5.9B across 63 positions as of Q2 2025. Top holdings: ASND (29.9%), PCVX (6.6%), RYTM (5.9%). Fund DNA: Balanced Allocator. HoldingsIntel Rating: 2/5.0.
Active quarter - 6 new positions, 28 exits, 9 increased. Top move: CDTX (INCREASED, conviction 84). Portfolio: $5.9B across 63 positions.
Top holdings by portfolio weight
Portfolio allocation by GICS sector
Behavioral investing profile
Position Outcomes
Best and worst performing positions by estimated return
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Cost basis estimates based on full filing history using quarter-end prices. Actual transaction prices are not disclosed in 13F filings.
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Data sourced from SEC EDGAR 13F filings. Not financial advice. Full disclaimer