Paradigm Biocapital Advisors LP

NEW YORK, NY · CIK 1855655 · 13F filing filed 2025-08-14

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)

$2.3bn reported value +7.8% vs Q1 2025

28positions

72.3%in top 10

6 new 14 added 5 reduced 5 sold out vs Q1 2025

Holdings, Q2 2025

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		5,269,433	$402.1m17.17%	17.17%	Unchanged
2	ARCELLX INC COMMON STOCK ACLX	ACLX	4,649,016	$306.1m13.07%	13.07%	Added +157.0k	+156,984 3.5%
3	MERUS N V COM MRUS	MRUS	4,281,954	$225.2m9.62%	9.62%	Added +912.3k	+912,255 27.1%
4	REVOLUTION MEDICINES INC COM RVMD	RVMD	6,093,291	$224.2m9.57%	9.57%	Reduced -84.8k	-84,820 -1.4%
5	TARSUS PHARMACEUTICALS INC COM TARS	TARS	2,976,099	$120.6m5.15%	5.15%	Added +365.9k	+365,902 14.0%
6	VAXCYTE INC COM PCVX	PCVX	3,372,837	$109.7m4.68%	4.68%	Added +1.7m	+1,676,356 98.8%
7	BEIGENE LTD SPONSORED ADR ONC	ONC	347,787	$84.2m3.59%	3.59%	Reduced -318.2k	-318,237 -47.8%
8	EDGEWISE THERAPEUTICS INC COM EWTX	EWTX	6,142,344	$80.5m3.44%	3.44%	Added +1.7m	+1,747,788 39.8%
9	COGENT BIOSCIENCES INC COM COGT	COGT	10,352,449	$74.3m3.17%	3.17%	Added +1.4m	+1,388,794 15.5%
10	JANUX THERAPEUTICS INC COM JANX	JANX	2,920,258	$67.5m2.88%	2.88%	Reduced -409.7k	-409,651 -12.3%
11	CRINETICS PHARMACEUTICALS IN COM CRNX	CRNX	2,343,553	$67.4m2.88%	2.88%	Added +397.4k	+397,385 20.4%
12	DISC MEDICINE INC COM IRON	IRON	1,210,971	$64.1m2.74%	2.74%	Unchanged
13	SCHOLAR ROCK HLDG CORP COM SRRK	SRRK	1,600,554	$56.7m2.42%	2.42%	New
14	LENZ THERAPEUTICS INC COM LENZ	LENZ	1,717,066	$50.3m2.15%	2.15%	Added +205.1k	+205,134 13.6%
15	BRIDGEBIO PHARMA INC COM BBIO	BBIO	965,764	$41.7m1.78%	1.78%	New
16	APOGEE THERAPEUTICS INC COM COM		958,630	$41.6m1.78%	1.78%	Reduced -3.1k	-3,077 -0.3%
17	MOONLAKE IMMUNOTHERAPEUTICS CLASS A ORD MLTX	MLTX	878,323	$41.5m1.77%	1.77%	Added +250.9k	+250,900 40.0%
18	ALKERMES PLC SHS ALKS	ALKS	1,375,569	$39.4m1.68%	1.68%	New
19	VIRIDIAN THERAPEUTICS INC COM VRDN	VRDN	2,741,576	$38.3m1.64%	1.64%	Added +646.5k	+646,497 30.9%
20	AGIOS PHARMACEUTICALS INC COM AGIO	AGIO	1,142,511	$38.0m1.62%	1.62%	New
21	OCULAR THERAPEUTIX INC COM OCUL	OCUL	3,420,340	$31.7m1.36%	1.36%	Added +2.1m	+2,106,322 160.3%
22	OLEMA PHARMACEUTICALS INC COM OLMA	OLMA	6,764,172	$28.8m1.23%	1.23%	Added +23.0k	+23,000 0.3%
23	SPYRE THERAPEUTICS INC COM NEW SYRE	SYRE	1,870,445	$28.0m1.20%	1.20%	Reduced -256.8k	-256,760 -12.1%
24	Y-MABS THERAPEUTICS INC COM YMAB	YMAB	4,236,346	$19.1m0.82%	0.82%	Unchanged
25	PHARVARIS N V COM PHVS	PHVS	1,062,911	$18.7m0.80%	0.80%	New
26	IMMATICS N.V SHS IMTX	IMTX	3,144,157	$16.9m0.72%	0.72%	Added +1.2m	+1,237,049 64.9%
27	ERASCA INC COM ERAS	ERAS	11,907,182	$15.1m0.65%	0.65%	Added +1.1m	+1,104,828 10.2%
28	CRESCENT BIOPHARMA INC. COM CBIO	CBIO	642,721	$10.4m0.44%	0.44%	New

Sold out since Q1 2025

Security	Ticker	Shares held before	Value then
ARGENX SE ARGX	ARGX	59,679	$35.3m59.7k shares
CYTOKINETICS INC CYTK	CYTK	858,664	$34.5m858.7k shares
INSMED INC INSM	INSM	451,359	$34.4m451.4k shares
METSERA INC		1,191,462	$32.4m1.2m shares
ARCUTIS BIOTHERAPEUTICS INC ARQT	ARQT	1,465,334	$22.9m1.5m shares

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