Paradigm Biocapital Advisors LP

NEW YORK, NY · CIK 1855655 · 13F filing filed 2024-02-14

SEC-registered investment adviser since 2021 · limited partnership

Assets managed$4.5bn
Staff11 · 6 in investment roles
Main clients (by assets)Private funds 90%
Private funds2 (2 hedge) · $4.1bn gross assets
Form ADV · 2026-08-27SEC adviser record

Legal entityPARADIGM BIOCAPITAL ADVISORS LP (US)

Kindhedge funds, futures
Others nearbyNew York, NY

As an employer

Offices in1 country
Private fundshedge 2

$2.1bn reported value +45.5% vs Q3 2023

29positions

66.1%in top 10

7 new 14 added 8 reduced 7 sold out vs Q3 2023

Options: 1 call positions ($2.1m notional), 0 put positions (— notional) – listed below, not included above.

Holdings, Q4 2023

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	NUVALENT INC COM COM		3,858,008	$283.9m13.31%	13.31%	Added +2.2m	+2,219,861 135.5%
2	ARCELLX INC COMMON STOCK ACLX	ACLX	3,658,624	$203.1m9.52%	9.52%	Added +705.5k	+705,502 23.9%
3	ARGENX SE SPONSORED ADR ARGX	ARGX	422,577	$160.8m7.53%	7.53%	Added +161.1k	+161,134 61.6%
4	DISC MEDICINE INC COM IRON	IRON	2,385,857	$137.8m6.46%	6.46%	Added +1.1m	+1,113,578 87.5%
5	LEGEND BIOTECH CORP SPONSORED ADS LEGN	LEGN	1,894,644	$114.0m5.34%	5.34%	Reduced -130.8k	-130,836 -6.5%
6	OLEMA PHARMACEUTICALS INC COM OLMA	OLMA	7,903,600	$110.9m5.20%	5.20%	Added +100.0k	+100,000 1.3%
7	VIRIDIAN THERAPEUTICS INC COM VRDN	VRDN	4,794,488	$104.4m4.89%	4.89%	Added +1.1m	+1,112,741 30.2%
8	IMMUNOCORE HLDGS PLC ADS IMCR	IMCR	1,453,883	$99.3m4.66%	4.66%	Added +69.2k	+69,197 5.0%
9	CEREVEL THERAPEUTICS HLDNG I COM CERE	CERE	2,330,508	$98.8m4.63%	4.63%	Reduced -202.5k	-202,464 -8.0%
10	XENON PHARMACEUTICALS INC COM XENE	XENE	2,127,400	$98.0m4.59%	4.59%	Added +635.6k	+635,565 42.6%
11	MIRATI THERAPEUTICS INC COM MRTX	MRTX	1,543,116	$90.7m4.25%	4.25%	Reduced -125.0k	-125,000 -7.5%
12	CRINETICS PHARMACEUTICALS IN COM CRNX	CRNX	2,312,919	$82.3m3.86%	3.86%	Added +134.2k	+134,182 6.2%
13	AUTOLUS THERAPEUTICS PLC SPON ADS AUTL	AUTL	12,611,335	$81.2m3.81%	3.81%	Reduced -1.8m	-1,795,447 -12.5%
14	BICYCLE THERAPEUTICS PLC SPONSORED ADS BCYC	BCYC	3,707,001	$67.0m3.14%	3.14%	Added +64.7k	+64,694 1.8%
15	AMBRX BIOPHARMA INC COM COM		4,352,689	$62.0m2.90%	2.90%	New
16	ALPINE IMMUNE SCIENCES INC COM NVLS	NVLS	3,176,743	$60.5m2.84%	2.84%	Added +755.0k	+755,000 31.2%
17	ASCENDIS PHARMA A/S SPONSORED ADR SPONSORED ADR		351,700	$44.3m2.08%	2.08%	New
18	ARVINAS INC COM ARVN	ARVN	931,303	$38.3m1.80%	1.80%	New
19	TG THERAPEUTICS INC COM TGTX	TGTX	2,171,419	$37.1m1.74%	1.74%	Reduced -1.4m	-1,447,596 -40.0%
20	ZAI LAB LTD ADR ZLAB	ZLAB	1,091,779	$29.8m1.40%	1.40%	Reduced -50.6k	-50,604 -4.4%
21	IMMATICS N.V SHS IMTX	IMTX	2,136,339	$22.5m1.05%	1.05%	Added +77.9k	+77,892 3.8%
22	TARSUS PHARMACEUTICALS INC COM TARS	TARS	1,025,000	$20.8m0.97%	0.97%	New
23	COMPASS PATHWAYS PLC SPONSORED ADS CMPS	CMPS	2,265,988	$19.8m0.93%	0.93%	Added +907.3k	+907,279 66.8%
24	KURA ONCOLOGY INC COM KURA	KURA	1,262,828	$18.2m0.85%	0.85%	Added +50.0k	+50,000 4.1%
25	CARIBOU BIOSCIENCES INC COM CRBU	CRBU	2,923,851	$16.8m0.79%	0.79%	Reduced -20.7k	-20,662 -0.7%
26	VOR BIOPHARMA INC COM COM		6,457,293	$14.5m0.68%	0.68%	Reduced -4.2k	-4,174 -0.1%
27	CARGO THERAPEUTICS INC COM COM		333,333	$7.7m0.36%	0.36%	New
28	ZENTALIS PHARMACEUTICALS INC COM ZNTL	ZNTL	400,000	$6.1m0.28%	0.28%	New
29	AEROVATE THERAPEUTICS INC COM COM		143,235	$3.2m0.15%	0.15%	New

Sold out since Q3 2023

Security	Ticker	Shares held before	Value then
UNITED THERAPEUTICS CORP DEL UTHR	UTHR	307,314	$69.4m307.3k shares
INCYTE CORP INCY	INCY	912,497	$52.7m912.5k shares
AMBRX BIOPHARMA INC		3,488,596	$40.1m3.5m shares
SYNDAX PHARMACEUTICALS INC SNDX	SNDX	2,390,077	$34.7m2.4m shares
VERONA PHARMA PLC VRNA	VRNA	926,432	$15.1m926.4k shares
ROIVANT SCIENCES LTD ROIV	ROIV	1,081,767	$12.6m1.1m shares
COGENT BIOSCIENCES INC COGT	COGT	225,605	$2.2m225.6k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
AMBRX BIOPHARMA INC Call		Call	150,000	$2.1m150.0k 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	Ticker	Stake	Change	Schedule	Last filed
OLEMA PHARMACEUTICALS INC OLMA · 13G · filed 2025-02-14	OLMA	10.0%≈ $92.9m		13G	2025-02-14
EDGEWISE THERAPEUTICS INC EWTX · 13G · filed 2026-08-14	EWTX	9.5%≈ $415.1m	+3.3 pts	13G	2026-08-14
ACHIEVE LIFE SCIENCES INC ACHV · 13G · filed 2026-04-24	ACHV	9.2%≈ $64.7m	new	13G	2026-04-24
ASSEMBLY BIOSCIENCES INC ASMB · 13G · filed 2026-08-14	ASMB	7.8%≈ $42.7m	+2.4 pts	13G	2026-08-14
VIRIDIAN THERAPEUTICS INC VRDN · 13G · filed 2026-08-14	VRDN	6.1%≈ $123.5m	+1.0 pts	13G	2026-08-14
TYRA BIOSCIENCES INC TYRA · 13G · filed 2026-09-17	TYRA	5.8%≈ $110.9m	new	13G	2026-09-17
LEXEO THERAPEUTICS INC LXEO · 13G · filed 2026-08-14	LXEO	5.3%≈ $19.4m	-3.0 pts	13G	2026-08-14
MBX BIOSCIENCES INC MBX · 13G · filed 2026-06-24	MBX	5.2%≈ $137.6m	new	13G	2026-06-24
SPYRE THERAPEUTICS INC SYRE · 13G · filed 2026-10-01	SYRE	5.1%≈ $395.7m	new	13G	2026-10-01
JADE BIOSCIENCES INC JBIO · 13G · filed 2026-07-17	JBIO	5.1%≈ $69.0m	new	13G	2026-07-17

Trades reported as a company insider in Q4 2023

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	Ticker	Trade	Shares	Value	Their holding
2023-12-06	OLEMA PHARMACEUTICALS INC 10% owner · By: Paradigm BioCapital International Fund Ltd.	OLMA	Bought	100,000	$1.2m100.0k shares	+2%