Equal-WT
WhaleScore 2.0
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Cormorant Asset Management is based out of Boston. Cormorant Asset Management is a hedge fund with 14 clients and discretionary assets under management (AUM) of $4,022,479,936 (Form ADV from 2024-05-22). Their last reported 13F filing for Q4 2024 included $1,820,860,799 in managed 13F securities
and a top 10 holdings concentration of 65.19%. Cormorant Asset Management's largest holding is MoonLake Immunotherapeutics with shares held of 8,494,151. Whalewisdom has at least 46 13F filings, 4 13D filings, 255 13G filings, and 88 Form 4 filings
Business Description
Cormorant addresses potential conflicts of interest by regularly monitoring Advisory Clients for consistency with investment objectives, strategies, and target capacity. They also carefully consider the risks involved in any investments and provide extensive disclosure to Investors regarding potential risks. The Code of Ethics requires Access Persons to prioritize the Advisory Clients’ interests over their own and those of Cormorant.
All Access Persons must acknowledge their receipt and understanding of the Code.
Investment Strategy
The Hedge Fund aims to achieve superior risk-adjusted returns with low market correlation through a combination of long and short positions. They primarily invest in publicly traded equity securities in the healthcare and life science industries, focusing on securities they believe are undervalued or will increase in value for long positions, and overvalued or will decrease in value for short positions. They may also engage in long or short trading strategies to capitalize on market irrationality or short-term valuation anomalies.
The PE Funds aim to generate long-term capital appreciation by investing in innovative companies in the biotechnology and life sciences marketplace. They primarily invest in privately held companies at various stages of development, focusing on opportunities that align with their investment strategy. The process of identifying and securing these investments is highly competitive, and the PE Funds may not fully utilize their commitments if they cannot find enough attractive opportunities.
Owners
- CHEN, BIHUA - MANAGING MEMBER & CHIEF EXECUTIVE OFFICER
- TRIPP, CALEB, JONATHAN - CHIEF FINANCIAL OFFICER & CHIEF OPERATING OFFICER
- OBRADOVIC, NEBOJSA - CHIEF COMPLIANCE OFFICER & GENERAL COUNSEL
- CORMORANT ASSET MANAGEMENT GP, LLC - GENERAL PARTNER Click on the Ownership/Private Fund Data tab for more details.
Known Email Addresses
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Other Contact Information
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2024-12-31
Top Buys (13F)
| Name | % Change |
|---|---|
| PRAX Praxis Precision Med | 4.5% |
| JANX Janux Therapeutics I | 3.65% |
| NAMS NewAmsterdam Pharma | 2.41% |
| DRUG Bright Minds Bioscie | 2.1% |
| OKUR OnKure Therapeutics | 0.87% |
2024-12-31
Top Sells (13F)
| Name | % Change |
|---|---|
| LBPH Longboard Pharmaceut | 4.93% |
| PCVX Vaxcyte, Inc | 4.15% |
| BHVN Biohaven Ltd | 0.95% |
| URGN UroGen Pharma Ltd | 0.87% |
| YMAB Y-mAbs Therapeutics | 0.83% |
2024-12-31
13F Holdings Summary
| Name | $ Change |
|---|---|
| MLTX MoonLake Immunothera | 25.26% |
| PRAX Praxis Precision Med | 7.16% |
| JANX Janux Therapeutics I | 6.17% |
| ACLX Arcellx Inc | 5.48% |
| EWTX Edgewise Therapeutic | 5% |
2024-12-31
13F Activity
| Market Value | $1.82b, Prior: $1.89b |
| Inflows (Outflows) as % of Total MV | +1.379% |
| New Purchases | 8 stocks |
| Added To | 7 stocks |
| Sold out of | 5 stocks |
| Reduced holdings in | 11 stocks |
| Top 10 Holdings % | 65.19% |
| Turnover %[1] | 24.53% |
| Turnover Alt %[2] | 14.33% |
| Time Held Top 20 | 3.35 quarters |
| Time Held Top 10 | 3 quarters |
| Time Held All | 5.79 quarters |
[1]: Turnover is calculated by taking the # of new holdings (initial purchases) + the # of positions sold out of (not just reduced) divided by the total # of holdings for the quarter.
[2]: Alt Turnover is calculated by taking either the total MV of new purchases or the MV of securities sold, whichever is less, divided by the total MV of the fund.
2024-12-31
13F Sector Allocation Over Time
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2024-12-31
Analysis
Top 20 equal-weighted holdings. Performance numbers calculated through 2024-12-31