RA CAPITAL MANAGEMENT, L.P.
Institutional investor · Portfolio as of Q4 2025
Top Holdings71 positions
Stock | Shares | Value | Weight | Avg Buy | Est. P&L | Held | Conviction |
|---|---|---|---|---|---|---|---|
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% | $38.56 | — | 6 qtrssince 2024-Q3 | Unchanged 0 |
RHYTHM PHARMACEUTICALS INC | 6.7M | $713.6M | 7.3% | $38.85 | +174.78% | 29 qtrssince 2018-Q4 | Increased 72 |
| 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 | 9.9M | $407.5M | 4.2% | $11.56 | +258.04% | 4 qtrssince 2025-Q1 | Decreased 0 |
NewAmsterdam Pharma Company N.V. | 9.6M | $335M | 3.4% | $14.11 | +146.24% | 13 qtrssince 2022-Q4 | Decreased 0 |
TYRA BIOSCIENCES INC | 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 | 7.3M | $265.8M | 2.7% | $18.66 | +90.29% | 12 qtrssince 2023-Q1 | Unchanged 0 |
EDGEWISE THERAPEUTICS INC | 10.4M | $258.8M | 2.7% | $17.63 | +39.18% | 8 qtrssince 2024-Q1 | Unchanged 0 |
Septerna, Inc. | 7M | $195M | 2.0% | $23.23 | +19.59% | 5 qtrssince 2024-Q4 | Unchanged 0 |
Nuvalent, Inc. Class A | 1.9M | $189.1M | 1.9% | $90.08 | +11.44% | 2 qtrssince 2025-Q3 | Increased 67 |
DISC MEDICINE INC | 2M | $156.9M | 1.6% | $57.31 | +34.16% | 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 | 23.6M | $129.6M | 1.3% | $2.74 | +106.57% | 10 qtrssince 2023-Q3 | Unchanged 0 |
ARS PHARMACEUTICALS INC | 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% | $7.66 | 0.00% | 1 qtr | New 69 |
BICARA THERAPEUTICS INC | 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 Rating: 2/5.0.
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.
Similar Funds
Funds with similar investing DNA
Explore More
Accumulation Streaks
Positions with 2+ consecutive quarters of increases - persistent directional conviction.
Continue exploring
Data sourced from SEC EDGAR 13F filings. Not financial advice. Full disclaimer