RA CAPITAL MANAGEMENT, L.P.
Institutional investor · Portfolio as of Q2 2025
Top Holdings63 positions
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% | $25.68 | +146.10% | 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 |
AVIDITY BIOSCIENCES INC | 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 |
Silverback Therapeutics Inc | 10.9M | $189.5M | 3.2% | $5.93 | +207.06% | 11 qtrssince 2022-Q4 | Unchanged 0 |
NEWAMSTERDAM PHARMA COMPANY | 10.1M | $183.6M | 3.1% | $13.85 | +30.74% | 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% | $16.78 | +194.65% | 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 | -29.31% | 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% | $49.64 | +6.69% | 2 qtrssince 2025-Q1 | Unchanged 0 |
MINERALYS THERAPEUTICS INC | 6.1M | $83.2M | 1.4% | $14.96 | -9.55% | 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 Score: 2.5/5.0.
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
Top Winners
Top Losers
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
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