RA CAPITAL MANAGEMENT, L.P.
Institutional investor · Portfolio as of Q4 2025
Top Holdings71 positions
ASCENDIS PHARMA A/S | 10.3M | $2.2B | 22.5% | $95.48 | +119.25% | 29 qtrssince 2018-Q4 | Unchanged 0 |
CIDARA THERAPEUTICS INC | 3.4M | $743.4M | 7.6% | $16.78 | — | 6 qtrssince 2024-Q3 | Unchanged 0 |
RHYTHM PHARMACEUTICALS INC | 6.7M | $713.6M | 7.3% | $39.06 | +174.05% | 29 qtrssince 2018-Q4 | Increased 72 |
AVIDITY BIOSCIENCES INC | 8.6M | $623.3M | 6.4% | $20.21 | — | 18 qtrssince 2021-Q3 | Unchanged 0 |
VAXCYTE INC | 10.7M | $494.8M | 5.1% | $49.07 | -7.45% | 23 qtrssince 2020-Q2 | Decreased 0 |
SIONNA THERAPEUTICS INC COM | 9.9M | $407.5M | 4.2% | $11.56 | +258.04% | 4 qtrssince 2025-Q1 | Decreased 0 |
NEWAMSTERDAM PHARMA COMPANY NV ORDINARY SHARES | 9.6M | $335M | 3.4% | $13.85 | +153.25% | 13 qtrssince 2022-Q4 | Decreased 0 |
TYRA BIOSCIENCES INC COM | 12.2M | $320.7M | 3.3% | $15.72 | +61.80% | 18 qtrssince 2021-Q3 | Unchanged 0 |
WAVE LIFE SCIENCES LTD | 18.2M | $309.5M | 3.2% | $19.79 | -13.36% | 29 qtrssince 2018-Q4 | Increased 57 |
MINERALYS THERAPEUTICS INC COM | 7.3M | $265.8M | 2.7% | $18.65 | +94.62% | 12 qtrssince 2023-Q1 | Unchanged 0 |
EDGEWISE THERAPEUTICS INC COM | 10.4M | $258.8M | 2.7% | $17.63 | +39.18% | 8 qtrssince 2024-Q1 | Unchanged 0 |
SEPTERNA INC COM | 7M | $195M | 2.0% | $23.23 | +19.59% | 5 qtrssince 2024-Q4 | Unchanged 0 |
NUVALENT INC | 1.9M | $189.1M | 1.9% | $90.08 | +11.44% | 2 qtrssince 2025-Q3 | Increased 67 |
DISC MEDICINE INC COM | 2M | $156.9M | 1.6% | $55.65 | +42.69% | 4 qtrssince 2025-Q1 | Increased 59 |
Janux Therapeutics Inc | 11.2M | $154.4M | 1.6% | $27.88 | -50.39% | 19 qtrssince 2021-Q2 | Unchanged 0 |
PEPGEN INC | 20.1M | $130.6M | 1.3% | $8.26 | -22.25% | 15 qtrssince 2022-Q2 | Unchanged 0 |
TAYSHA GENE THERAPIES INC COM SHS | 23.6M | $129.6M | 1.3% | $2.74 | +106.57% | 10 qtrssince 2023-Q3 | Unchanged 0 |
ARS PHARMACEUTICALS INC COM | 10.9M | $126.5M | 1.3% | $5.93 | +96.38% | 13 qtrssince 2022-Q4 | Unchanged 0 |
BIOCRYST PHARMACEUTICALS INC | 15.8M | $123.5M | 1.3% | $7.80 | 0.00% | 1 qtr | New 69 |
BICARA THERAPEUTICS INC COM | 7M | $117.1M | 1.2% | $25.44 | -36.64% | 6 qtrssince 2024-Q3 | Unchanged 0 |
RA CAPITAL MANAGEMENT, L.P. manages $9.8B across 71 positions as of Q4 2025. Top holdings: ASND (22.5%), CDTX (7.6%), RYTM (7.3%). Fund DNA: Balanced Allocator. HoldingsIntel Score: 2.5/5.0.
Active quarter - 22 new positions, 18 exits, 13 increased. Top move: RYTM (INCREASED, conviction 72). Portfolio: $9.8B across 71 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
Verify source filings on SEC EDGAR