ORBIMED ADVISORS LLC
New York, NY · CIK 1055951 · 13F filing filed 2026-08-14
SEC-registered investment adviser since 2002 · limited liability company
- Assets managed$20.6bn
- Staff118 · 86 in investment roles
- Main clients (by assets)Private funds 100%
- Private funds24 (5 hedge) · $19.0bn gross assets
- Form ADV · 2026-08-18SEC adviser record
- Legal entityORBIMED ADVISORS LLC (US)
Options: 6 call positions ($68.5m notional), 2 put positions ($48.8m notional) – listed below, not included above.
This report includes the holdings of 1 other manager that shares the investment decisions:
- ORBIMED CAPITAL LLC – reports through this filing
Shares in two reports are counted once in each security's totals.
Holdings, Q2 2026
The small lines show how much was held over the last 4 quarters (adjusted for stock splits).
| Security | Value | Change |
|---|---|---|
| EDGEWISE THERAPEUTICS INC EWTX | $630.5m11.94% | Unchanged |
| ENLIVEN THERAPEUTICS INC ELVN | $343.9m6.51% | Reduced -1.2m |
| ELI LILLY & CO LLY | $309.3m5.86% | Added +21.1k |
| MBX BIOSCIENCES INC MBX | $189.3m3.58% | Reduced -209.2k |
| SINOVAC BIOTECH LTD SVA | $184.5m3.49% | Unchanged |
| ASTRAZENECA PLC AZN | $171.1m3.24% | Added +245.5k |
| STRUCTURE THERAPEUTICS INC GPCR | $118.6m2.25% | Added +734.0k |
| SIONNA THERAPEUTICS INC SION | $112.4m2.13% | Reduced -974.8k |
| CORVUS PHARMACEUTICALS INC CRVS | $107.0m2.03% | Unchanged |
| ARRIVENT BIOPHARMA INC AVBP | $105.2m1.99% | Unchanged |
| GUARDANT HEALTH INC GH | $87.6m1.66% | Added +148.5k |
| ARGENX SE ARGX | $86.2m1.63% | Reduced -44.0k |
| MERCK & CO INC MRK | $85.2m1.61% | Unchanged |
| UNIQURE NV QURE | $83.3m1.58% | Reduced -328.7k |
| PRAXIS PRECISION MEDICINES I PRAX | $77.0m1.46% | Added +57.6k |
| EDWARDS LIFESCIENCES CORP EW | $75.5m1.43% | Reduced -395.7k |
| PRELUDE THERAPEUTICS INC PRLD | $73.2m1.39% | Added +2.8m |
| ABIVAX SA ABVX | $72.8m1.38% | Added +80.8k |
| DYNE THERAPEUTICS INC DYN | $71.9m1.36% | Added +317.8k |
| NATERA INC NTRA | $71.1m1.35% | Unchanged |
| CG ONCOLOGY INC CGON | $69.1m1.31% | Added +24.5k |
| UNITEDHEALTH GROUP INC UNH | $67.0m1.27% | New |
| ARS PHARMACEUTICALS INC SPRY | $66.4m1.26% | Unchanged |
| ASCENDIS PHARMA A/S ASND | $65.2m1.24% | New |
| HUMANA INC HUM | $65.2m1.23% | New |
| COGENT BIOSCIENCES INC COGT | $65.1m1.23% | Added +1.4m |
| BOSTON SCIENTIFIC CORP BSX | $63.3m1.20% | Reduced -898.9k |
| INTUITIVE SURGICAL INC ISRG | $62.8m1.19% | Reduced -50.8k |
| MINERALYS THERAPEUTICS INC MLYS | $56.9m1.08% | Added +57.4k |
| ODYSSEY THERAPEUTICS INC ODTX | $56.2m1.06% | New |
| XENON PHARMACEUTICALS INC XENE | $53.9m1.02% | Reduced -167.5k |
| ARCUTIS BIOTHERAPEUTICS INC ARQT | $53.5m1.01% | New |
| BRISTOL-MYERS SQUIBB CO BMY | $53.3m1.01% | Unchanged |
| Q32 BIO INC QTTB | $52.6m1.00% | Added +1.9m |
| STRYKER CORPORATION SYK | $50.1m0.95% | Reduced -23.4k |
| CARIS LIFE SCIENCES INC CAI | $50.0m0.95% | Unchanged |
| THERMO FISHER SCIENTIFIC INC TMO | $45.5m0.86% | Added +44.2k |
| PALVELLA THERAPEUTICS INC NE PVLA | $44.7m0.85% | Added +157.8k |
| ELEVANCE HEALTH INC ELV | $44.4m0.84% | Unchanged |
| SHATTUCK LABS INC STTK | $43.8m0.83% | Unchanged |
| UPSTREAM BIO INC UPB | $39.4m0.75% | Unchanged |
| CRINETICS PHARMACEUTICALS IN CRNX | $37.4m0.71% | Unchanged |
| RHYTHM PHARMACEUTICALS INC RYTM | $35.9m0.68% | Added +8.8k |
| SYNDAX PHARMACEUTICALS INC SNDX | $33.7m0.64% | Added +579.7k |
| FORTE BIOSCIENCES INC FBRX | $33.5m0.64% | Added +380.8k |
| COMPASS THERAPEUTICS INC CMPX | $33.3m0.63% | Unchanged |
| NEKTAR THERAPEUTICS NKTR | $32.5m0.62% | Added +190.3k |
| KRYSTAL BIOTECH INC KRYS | $30.9m0.59% | Added +14.1k |
| N/A 0 | $30.3m0.57% | Reduced -530.7k |
| AXSOME THERAPEUTICS INC AXSM | $28.8m0.55% | Reduced -96.3k |
| KINIKSA PHARMACEUTICALS INTL KNSA | $26.9m0.51% | Added +240.0k |
| TREVI THERAPEUTICS INC TRVI | $26.7m0.51% | Reduced -1.0m |
| DISC MEDICINE INC IRON | $26.2m0.50% | Reduced -710.0k |
| WEST PHARMACEUTICAL SVSC INC WST | $25.3m0.48% | New |
| RELMADA THERAPEUTICS INC RLMD | $25.1m0.48% | Reduced -1.1m |
| UROGEN PHARMA LTD URGN | $24.9m0.47% | Reduced -199.3k |
| SUTRO BIOPHARMA INC STRO | $24.7m0.47% | Reduced -57.2k |
| SAVARA INC SVRA | $24.4m0.46% | Added +3.3m |
| NEUROPACE INC NPCE | $23.9m0.45% | Reduced -591.4k |
| AURA BIOSCIENCES INC AURA | $23.7m0.45% | New |
| ORIC PHARMACEUTICALS INC ORIC | $21.8m0.41% | Reduced -678.9k |
| CYBIN INC COM NEW | $21.6m0.41% | Reduced -561.4k |
| BIOCRYST PHARMACEUTICALS INC BCRX | $18.5m0.35% | Added +426.8k |
| BIOAGE LABS INC BIOA | $18.4m0.35% | Added +40.3k |
| LEXEO THERAPEUTICS INC LXEO | $18.4m0.35% | Added +345.4k |
| AADI BIOSCIENCE INC WHWK | $18.0m0.34% | Reduced -231.7k |
| DEFINIUM THERAPEUTICS INC DFTX | $17.2m0.33% | Reduced -438.6k |
| SPYRE THERAPEUTICS INC SYRE | $16.5m0.31% | New |
| CORBUS PHARMACEUTICALS HLDGS CRBP | $16.3m0.31% | Unchanged |
| VERA THERAPEUTICS INC VERA | $15.9m0.30% | Unchanged |
| ALUMIS INC ALMS | $15.4m0.29% | Unchanged |
| EYEPOINT PHARMACEUTICALS INC EYPT | $15.3m0.29% | Unchanged |
| WATERS CORP WAT | $15.1m0.29% | New |
| MONOPAR THERAPEUTICS INC MNPR | $14.6m0.28% | New |
| TRAVERE THERAPEUTICS INC TVTX | $14.4m0.27% | New |
| TAYSHA GENE THERAPIES INC TSHA | $13.6m0.26% | New |
| BIOGEN INC BIIB | $13.3m0.25% | Unchanged |
| REVOLUTION MEDICINES INC RVMD | $13.2m0.25% | Added +18.5k |
| DIANTHUS THERAPEUTICS INC DNTH | $11.2m0.21% | New |
| SPRUCE BIOSCIENCES INC SPRB | $10.8m0.20% | New |
| LIFESTANCE HEALTH GROUP INC LFST | $10.1m0.19% | Added +447.4k |
| ERASCA INC ERAS | $9.1m0.17% | New |
| PROTARA THERAPEUTICS INC TARA | $8.5m0.16% | New |
| KEROS THERAPEUTICS INC KROS | $8.1m0.15% | Unchanged |
| JANUX THERAPEUTICS INC JANX | $8.1m0.15% | Reduced -458.9k |
| TECTONIC THERAPEUTIC INC TECX | $7.8m0.15% | Unchanged |
| ADICET BIO INC ACET | $7.3m0.14% | Reduced -183.2k |
| PHARVARIS N V PHVS | $7.1m0.13% | Unchanged |
| ALTO NEUROSCIENCE INC ANRO | $6.8m0.13% | Added +90.4k |
| ZENTALIS PHARMACEUTICALS INC ZNTL | $6.7m0.13% | New |
| BRIGHT MINDS BIOSCIENCES INC DRUG | $6.5m0.12% | Added +53.0k |
| ALX ONCOLOGY HLDGS INC ALXO | $5.9m0.11% | Unchanged |
| TRAVERE THERAPEUTICS INC TVTX 0.5 05.15.32 · principal | $5.9m0.11% | New |
| XILIO THERAPEUTICS INC XLO | $5.7m0.11% | New |
| BICARA THERAPEUTICS INC BCAX | $5.7m0.11% | Reduced -476.2k |
| IMAGENEBIO INC IMA | $5.4m0.10% | Added +530.7k |
| PROTAGONIST THERAPEUTICS INC PTGX | $5.2m0.10% | Unchanged |
| ALNYLAM PHARMACEUTICALS INC ALNY | $5.1m0.10% | Reduced -102.0k |
| PALISADE BIO INC PALI | $4.9m0.09% | Unchanged |
| REVOLUTION MEDICINES INC RVMD 0.5 05.01.33 · principal | $4.4m0.08% | New |
Sold out since Q1 2026
| Security | Value then |
|---|---|
| MYRIAD GENETICS INC MYGN | $122.9m125.0m shares |
| PFIZER INC PFE | $54.7m1.9m shares |
| DANAHER CORPORATION DHR | $50.4m265.8k shares |
| ASCENDIS PHARMA A/S | $41.6m182.0k shares |
| AVITA MEDICAL INC RCEL | $40.5m40.5m shares |
| ESPERION THERAPEUTICS INC NE ESPR | $29.0m10.6m shares |
| BRIGHTSPRING HEALTH SVCS INC BTSG | $21.2m497.8k shares |
| AMGEN INC AMGN | $14.0m39.9k shares |
| ALIGNMENT HEALTHCARE INC ALHC | $13.9m791.0k shares |
| REGENERON PHARMACEUTICALS REGN | $11.4m14.7k shares |
| CARLSMED INC CARL | $11.3m1.3m shares |
| GILEAD SCIENCES INC GILD | $8.3m59.6k shares |
| HERON THERAPEUTICS INC HRTX | $7.9m9.8m shares |
| AVALO THERAPEUTICS INC AVTX | $7.1m475.2k shares |
| COMPASS PATHWAYS PLC CMPS | $6.4m1.2m shares |
| ADC THERAPEUTICS SA ADCT | $4.9m1.3m shares |
| CULLINAN THERAPEUTICS INC CGEM | $3.5m243.0k shares |
| JADE BIOSCIENCES INC JBIO | $2.6m185.0k shares |
| C4 THERAPEUTICS INC CCCC | $2.3m856.4k shares |
| AVITA MEDICAL INC RCEL | $2.0m544.9k shares |
| KALVISTA PHARMACEUTICALS INC KALV | $1.9m94.4k shares |
| VISTAGEN THERAPEUTICS INC VTGN | $1.7m3.1m shares |
Options (notional value)
| Underlying | Notional | Change |
|---|---|---|
| SPDR SER TR XBI · Put | $47.5m300.0k shares | New |
| ABIVAX SA ABVX · Call | $26.7m200.0k shares | New |
| PROTAGONIST THERAPEUTICS INC PTGX · Call | $18.4m150.0k shares | New |
| REVOLUTION MEDICINES INC RVMD · Call | $9.4m50.0k shares | New |
| PALVELLA THERAPEUTICS INC NE PVLA · Call | $6.1m40.0k shares | Reduced |
| UNITEDHEALTH GROUP INC UNH · Call | $4.2m10.0k shares | New |
| ELEVANCE HEALTH INC ELV · Call | $3.9m10.0k shares | New |
| SELLAS LIFE SCIENCES GROUP I SLS · Put | $1.4m92.5k shares | New |
Stakes above 5%
Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.
| Company | Stake |
|---|---|
| PRELUDE THERAPEUTICS INC PRLD · 13D · filed 2026-04-23 | 16.0%≈ $68.9m |
| EDGEWISE THERAPEUTICS INC EWTX · 13D · filed 2025-05-12 | 14.5%≈ $619.7m |
| Q32 BIO INC QTTB · 13D · filed 2026-07-20 | 13.9%≈ $52.6m |
| IKENA ONCOLOGY INC 13D · filed 2026-04-29 | 13.1% |
| TRAWS PHARMA INC TRAW · 13D · filed 2026-05-05 | 11.9%≈ $1.6m |
| CORVUS PHARMACEUTICALS INC CRVS · 13D · filed 2026-01-27 | 10.3%≈ $128.6m |
| SHATTUCK LABS INC STTK · 13D · filed 2026-06-15 | 10.0%≈ $62.6m |
| XILIO THERAPEUTICS INC XLO · 13G · filed 2026-05-15 | 10.0% |
| ENLIVEN THERAPEUTICS INC ELVN · 13D · filed 2026-06-24 | 9.5%≈ $343.8m |
| COMPASS THERAPEUTICS INC CMPX · 13D · filed 2025-08-15 | 8.9%≈ $33.3m |
| ADICET BIO INC 13D · filed 2026-04-10 | 8.8% |
| INSPIREMD INC NSPR · 13G · filed 2026-02-17 | 7.4%≈ $2.2m |
| AADI BIOSCIENCE INC WHWK · 13G · filed 2026-08-14 | 7.3%≈ $18.0m |
| SIONNA THERAPEUTICS INC SION · 13D · filed 2026-04-20 | 6.6%≈ $130.6m |
| MBX BIOSCIENCES INC MBX · 13D · filed 2026-08-10 | 6.4%≈ $169.7m |
| FORTE BIOSCIENCES INC FBRX · 13G · filed 2026-08-14 | 6.2%≈ $26.9m |
| CORBUS PHARMACEUTICALS HLDGS CRBP · 13G · filed 2025-02-14 | 5.9%≈ $6.7m |
| ARRIVENT BIOPHARMA INC AVBP · 13D · filed 2026-10-08 | 5.8%≈ $99.9m |
| IMMUNIC INC 13G · filed 2026-08-14 | 5.3% |
Trades reported as a company insider since 1 Apr 2026
Owning 10% or more of a company, or having someone on its board, makes this manager an insider there: it reports its trades in that company's shares on Form 4 within two business days. Open-market and private purchases and sales only.
| Date | Company | Trade | Value |
|---|---|---|---|
| 2026-07-07 | SIONNA THERAPEUTICS INC Director · See footnotes | Sold | $3.9m85.9k shares |
| 2026-06-30 | SIONNA THERAPEUTICS INC Director · See footnotes | Sold | $5.3m115.8k shares |
| 2026-06-22 | ENLIVEN THERAPEUTICS INC 10% owner · See Footnotes | Sold | $39.0m860.1k shares |
| 2026-06-15 | ENLIVEN THERAPEUTICS INC 10% owner · See Footnotes | Sold | $12.7m281.4k shares |
| 2026-05-28 | Q32 BIO INC Director · See footnotes | Bought | $15.0m1.9m shares |
| 2026-05-27 | SIONNA THERAPEUTICS INC Director · See footnotes | Sold | $4.5k101 shares |
| 2026-05-11 | SIONNA THERAPEUTICS INC Director · See footnotes( | Sold | $8.5m184.6k shares |
| 2026-05-08 | SIONNA THERAPEUTICS INC Director · See footnotes( | Sold | $2.7m59.8k shares |
| 2026-05-07 | SIONNA THERAPEUTICS INC Director · See footnotes( | Sold | $2.2m48.5k shares |
| 2026-04-21 | PRELUDE THERAPEUTICS INC Director · See footnotes | Bought | $12.5m2.8m shares |
| 2026-04-18 | SIONNA THERAPEUTICS INC Director · See footnotes | Sold | $131.2k2.9k shares |
| 2026-04-17 | SIONNA THERAPEUTICS INC Director · See footnotes | Sold | $2.3m52.4k shares |
| 2026-04-16 | SIONNA THERAPEUTICS INC Director · See footnotes | Sold | $10.3m226.9k shares |
| 2026-04-16 | TRAWS PHARMA INC 10% owner · See Footnote | Bought | $998.2k597.7k shares |
| 2026-04-15 | SIONNA THERAPEUTICS INC Director · See footnotes | Sold | $10.5m235.9k shares |
| 2026-04-14 | SIONNA THERAPEUTICS INC Director · See footnotes | Sold | $2.1m47.8k shares |
| 2026-04-08 | ADICET BIO INC 10% owner · See footnotes | Sold | $468.1k72.9k shares |
| 2026-04-07 | ADICET BIO INC 10% owner · See footnotes | Sold | $206.8k31.7k shares |