Tang Capital Management LLC
Net seller this quarter
$2.2B
40
-$80.8M
62.7%
Holdings
| Company | Value | % of portfolio | % of company | POSITION CHANGE qoq % | First reported |
|---|---|---|---|---|---|
| Q2 2026 | |||||
 AUPH | $221M | 10.05% | 9.81% | +6.7% | Q3 2022 |
 SYRE | $168M | 7.63% | 2.15% | Not reported | Q1 2025 |
 MIRM | $145M | 6.57% | 1.91% | Not reported | Q2 2022 |
 KNSA | $145M | 6.56% | Not reported | Not reported | Q1 2022 |
 CELC | $138M | 6.25% | 2.69% | +25.2% | Q3 2025 |
 CORT | $130M | 5.92% | 1.40% | Not reported | Q4 2025 |
 PTCT | $122M | 5.56% | 1.80% | Not reported | Q4 2023 |
 LKFT | $114M | 5.16% | 5.75% | Not reported | Q1 2022 |
 CAPR | $98.7M | 4.48% | 7.06% | +20.6% | Q1 2025 |
 TARS | $98.7M | 4.48% | 3.62% | +31.9% | Q1 2022 |
 SPY | $91.9M | 4.17% | Not reported | -26.8% | Q4 2025 |
 ANAB | $89.8M | 4.08% | 4.57% | -33.3% | Q4 2019 |
 IMCR | $84.1M | 3.82% | 5.15% | Not reported | Q1 2022 |
 CMPS | $70.8M | 3.21% | 3.68% | +24.9% | Q4 2024 |
 ANIP | $58.6M | 2.66% | 3.15% | Not reported | Q4 2021 |
 BNTX | $43.7M | 1.99% | 0.19% | Not reported | Q1 2022 |
 CMPX | $39.4M | 1.79% | 9.99% | +7.2% | Q3 2024 |
 PGEN | $36.6M | 1.66% | 1.79% | Not reported | Q3 2024 |
 VRDN | $32.9M | 1.50% | 1.58% | Not reported | Q2 2022 |
 NVCT | $28.5M | 1.29% | 5.81% | New | Q2 2026 |
 DNTH | $25.8M | 1.17% | 0.48% | Not reported | Q3 2023 |
 FULC | $23.9M | 1.08% | 8.55% | New | Q2 2026 |
 AVIR | $22.4M | 1.02% | 6.00% | Not reported | Q1 2023 |
 CBIO | $20.9M | 0.95% | 4.18% | Not reported | Q2 2025 |
 NNDM | $20.7M | 0.94% | 6.83% | New | Q2 2026 |
 VKTX | $19.5M | 0.89% | 0.43% | Not reported | Q1 2024 |
 NUVB | $18.7M | 0.85% | 0.95% | +4.8% | Q4 2023 |
 IDYA | $16.8M | 0.76% | 0.47% | Not reported | Q3 2025 |
 DERM | $11.4M | 0.52% | 13.93% | Not reported | Q3 2023 |
 INSM | $10.7M | 0.48% | 0.05% | -61.5% | Q3 2022 |
 STOK | $9.82M | 0.45% | 0.48% | -40.0% | Q4 2024 |
 PLRX | $7M | 0.32% | 9.92% | 0.0% | Q1 2025 |
 BOLD | $6.4M | 0.29% | 11.39% | New | Q2 2026 |
 PMVP | $5.69M | 0.26% | 7.94% | Not reported | Q3 2025 |
 MRNA | $3.5M | 0.16% | 0.01% | -50.0% | Q4 2022 |
 WVE | $3.49M | 0.16% | 0.31% | Not reported | Q4 2025 |
 HRTX | $2.67M | 0.12% | 3.30% | Not reported | Q1 2014 |
 LENZ | $2.56M | 0.12% | 1.44% | Not reported | Q1 2024 |
 ALT | $2.02M | 0.09% | 0.34% | Not reported | Q2 2021 |
 RCKT | $342K | 0.02% | 0.09% | Not reported | Q1 2018 |
| Q1 2026 | |||||
| AUPH | $181M | 9.20% | 9.35% | +7.9% | Q3 2022 |
| CELC | $120M | 6.09% | 2.17% | Not reported | Q3 2025 |
| MIRM | $114M | 5.80% | 2.03% | Not reported | Q2 2022 |
| LKFT | $114M | 5.77% | 5.75% | -3.5% | Q1 2022 |
| SPY | $109M | 5.55% | Not reported | +460.0% | Q4 2025 |
| KNSA | $109M | 5.53% | Not reported | Not reported | Q1 2022 |
| CAPR | $103M | 5.25% | 5.90% | +100.0% | Q1 2025 |
| PTCT | $102M | 5.19% | 1.81% | Not reported | Q4 2023 |
| SYRE | $95.4M | 4.85% | 2.40% | Not reported | Q1 2025 |
| KALV | $92.1M | 4.68% | 8.93% | Not reported | Q1 2022 |
| CMPX | $88.8M | 4.51% | 9.32% | Not reported | Q3 2024 |
| TARS | $83.4M | 4.23% | 2.76% | Not reported | Q1 2022 |
| IMCR | $79.9M | 4.06% | 5.21% | +0.8% | Q1 2022 |
| ANAB | $73.8M | 3.75% | 4.58% | -0.1% | Q4 2019 |
| CORT | $60.5M | 3.07% | 1.41% | +856.9% | Q4 2025 |
| ANIP | $54.4M | 2.76% | 3.15% | +47.0% | Q4 2021 |
| INSM | $42.5M | 2.16% | 0.12% | +333.3% | Q3 2022 |
| BNTX | $41.8M | 2.12% | 0.19% | Not reported | Q1 2022 |
| VRDN | $35.1M | 1.78% | 1.75% | Not reported | Q2 2022 |
| AVIR | $25.9M | 1.32% | 6.02% | Not reported | Q1 2023 |
| PGEN | $24.8M | 1.26% | 1.80% | +14.2% | Q3 2024 |
| DNTH | $22.2M | 1.13% | 0.48% | Not reported | Q3 2023 |
| CMPS | $22.1M | 1.12% | 2.97% | Not reported | Q4 2024 |
| CBIO | $21.3M | 1.08% | 4.21% | +33.0% | Q2 2025 |
| STOK | $16.3M | 0.83% | 0.80% | Not reported | Q4 2024 |
| VKTX | $16.3M | 0.83% | 0.43% | Not reported | Q1 2024 |
| IDYA | $15M | 0.76% | 0.51% | Not reported | Q3 2025 |
| NUVB | $13.5M | 0.69% | 0.91% | -18.4% | Q4 2023 |
| PLRX | $7.74M | 0.39% | 9.92% | Not reported | Q1 2025 |
| DERM | $7.55M | 0.38% | 13.93% | -13.2% | Q3 2023 |
 JANX | $6.95M | 0.35% | 0.82% | Not reported | Q4 2024 |
 BIIB | $6.42M | 0.33% | 0.02% | Not reported | Q2 2024 |
 URGN | $6.29M | 0.32% | 0.72% | Not reported | Q2 2025 |
 ARVN | $5.71M | 0.29% | 0.84% | -5.5% | Q3 2022 |
| PMVP | $5.26M | 0.27% | 7.96% | -14.1% | Q3 2025 |
| MRNA | $5.08M | 0.26% | 0.03% | -85.6% | Q4 2022 |
| HRTX | $5M | 0.25% | 3.32% | Not reported | Q1 2014 |
| KZR | $4.93M | 0.25% | 9.01% | Not reported | Q4 2023 |
| WVE | $4.35M | 0.22% | 0.31% | Not reported | Q4 2025 |
| LENZ | $4.13M | 0.21% | 1.44% | -47.9% | Q1 2024 |
 AGIO | $3.38M | 0.17% | 0.17% | New | Q1 2026 |
 ERAS | $3.24M | 0.16% | 0.06% | -77.8% | Q4 2023 |
 CHRS | $3.19M | 0.16% | 1.22% | -30.8% | Q1 2020 |
 NKTX | $3.12M | 0.16% | 2.08% | Not reported | Q1 2022 |
| ALT | $2.05M | 0.10% | 0.51% | -68.8% | Q2 2021 |
 EOLS | $1.99M | 0.10% | 0.73% | -61.2% | Q4 2019 |
 ABEO | $1.79M | 0.09% | 0.70% | -60.0% | Q4 2025 |
 FATE | $1.4M | 0.07% | 1.00% | Not reported | Q1 2023 |
 NMRA | $858K | 0.04% | 0.24% | -54.5% | Q1 2025 |
 LXRX | $624K | 0.03% | 0.09% | Not reported | Q3 2024 |
| Q4 2025 | |||||
| AUPH | $181M | 8.93% | 8.56% | Not reported | Q3 2022 |
| LKFT | $128M | 6.33% | 5.95% | -5.5% | Q1 2022 |
| PTCT | $114M | 5.63% | 1.84% | Not reported | Q4 2023 |
| CELC | $105M | 5.17% | 2.18% | -8.7% | Q3 2025 |
| MIRM | $97.6M | 4.82% | 2.38% | Not reported | Q2 2022 |
| TARS | $97.3M | 4.81% | 2.79% | -51.6% | Q1 2022 |
| KNSA | $93.2M | 4.60% | Not reported | -3.0% | Q1 2022 |
| IMCR | $91.2M | 4.51% | 5.19% | +14.0% | Q1 2022 |
| CMPX | $90.2M | 4.45% | 9.42% | -0.1% | Q3 2024 |
| KALV | $73.9M | 3.65% | 8.99% | -9.3% | Q1 2022 |
| RNAM | $64.9M | 3.21% | 0.60% | New | Q4 2025 |
| ANAB | $64.6M | 3.19% | 4.75% | -0.1% | Q4 2019 |
| SYRE | $62M | 3.06% | 2.42% | -40.9% | Q1 2025 |
| VRDN | $55.8M | 2.76% | 1.76% | -36.9% | Q2 2022 |
| CAPR | $49.1M | 2.42% | 2.96% | Not reported | Q1 2025 |
| BNTX | $44.7M | 2.21% | 0.20% | +74.1% | Q1 2022 |
| ANIP | $38M | 1.88% | 2.14% | +51.6% | Q4 2021 |
 VRTX | $36.3M | 1.79% | 0.03% | Not reported | Q2 2025 |
| NUVB | $34.6M | 1.71% | 1.11% | -8.2% | Q4 2023 |
 TVTX | $26.7M | 1.32% | 0.77% | Not reported | Q2 2025 |
| VTYX | $25.4M | 1.26% | 3.94% | -9.2% | Q4 2023 |
 NVDA | $23.8M | 1.18% | 0.00% | -2.1% | Q1 2024 |
| PGEN | $23.5M | 1.16% | 1.59% | -54.7% | Q3 2024 |
| SPY | $20.5M | 1.01% | Not reported | New | Q4 2025 |
| MRNA | $20.4M | 1.01% | 0.18% | +126.9% | Q4 2022 |
| VKTX | $17.6M | 0.87% | 0.44% | -42.5% | Q1 2024 |
| AVIR | $17.2M | 0.85% | 6.16% | -0.2% | Q1 2023 |
| STOK | $15.9M | 0.78% | 0.85% | Not reported | Q4 2024 |
| IDYA | $15.6M | 0.77% | 0.51% | +12.5% | Q3 2025 |
 META | $15.4M | 0.76% | Not reported | -10.3% | Q1 2024 |
 GSK | $14.7M | 0.73% | 0.01% | -25.0% | Q4 2023 |
| DERM | $14.3M | 0.71% | 16.05% | Not reported | Q3 2023 |
| LENZ | $13.8M | 0.68% | 2.76% | -3.6% | Q1 2024 |
 PCVX | $12.7M | 0.63% | 0.21% | -8.3% | Q4 2022 |
| DNTH | $10.9M | 0.54% | 0.61% | Not reported | Q3 2023 |
 HRMY | $10.9M | 0.54% | 0.50% | +3.2% | Q1 2022 |
 BMY | $10.8M | 0.53% | 0.01% | Not reported | Q4 2019 |
| INSM | $10.4M | 0.52% | 0.03% | -70.0% | Q3 2022 |
| CBIO | $10.3M | 0.51% | 3.17% | +28.3% | Q2 2025 |
| WVE | $10.2M | 0.50% | 0.32% | New | Q4 2025 |
 TDOC | $9.8M | 0.48% | 0.79% | Not reported | Q2 2024 |
| DVAX | $8.56M | 0.42% | 0.47% | -71.5% | Q3 2022 |
| EOLS | $8.28M | 0.41% | 1.92% | -77.3% | Q4 2019 |
 VSTM | $8.26M | 0.41% | 1.38% | +35.5% | Q2 2023 |
| URGN | $8.2M | 0.40% | 0.72% | -65.0% | Q2 2025 |
| HRTX | $8.13M | 0.40% | 3.32% | +81.2% | Q1 2014 |
 ACAD | $8.01M | 0.40% | 0.18% | -80.0% | Q3 2023 |
| ALT | $7.69M | 0.38% | 1.92% | Not reported | Q2 2021 |
 SRPT | $7.52M | 0.37% | 0.33% | -41.8% | Q1 2016 |
| PLRX | $7.49M | 0.37% | 10.00% | +2.3% | Q1 2025 |
| Q3 2025 | |||||
| TARS | $146M | 5.62% | 5.78% | Not reported | Q1 2022 |
| LKFT | $144M | 5.54% | 6.30% | +4.0% | Q1 2022 |
| AUPH | $125M | 4.82% | 8.59% | +13.0% | Q3 2022 |
| PTCT | $92.1M | 3.54% | 1.88% | +36.4% | Q4 2023 |
| MIRM | $90.6M | 3.49% | 2.41% | Not reported | Q2 2022 |
| KNSA | $90.4M | 3.48% | Not reported | Not reported | Q1 2022 |
| IMCR | $83.8M | 3.22% | 4.57% | +9.5% | Q1 2022 |
| KALV | $61.4M | 2.36% | 9.98% | +2.0% | Q1 2022 |
| VRDN | $61.4M | 2.36% | 3.46% | Not reported | Q2 2022 |
| CMPX | $58.8M | 2.27% | 9.47% | +24.6% | Q3 2024 |
| CELC | $56.8M | 2.19% | 2.66% | New | Q3 2025 |
| MRUS | $56.5M | 2.17% | 0.79% | Not reported | Q2 2024 |
| SYRE | $53.6M | 2.06% | 5.29% | Not reported | Q1 2025 |
 RLAY | $42.1M | 1.62% | 4.67% | Not reported | Q3 2024 |
| LENZ | $41.8M | 1.61% | 3.14% | Not reported | Q1 2024 |
| ANAB | $40.8M | 1.57% | 4.84% | +0.2% | Q4 2019 |
| PGEN | $40.8M | 1.57% | 3.50% | Not reported | Q3 2024 |
 VERA | $39.2M | 1.51% | 2.12% | Not reported | Q1 2025 |
 NKE | $36.2M | 1.39% | 0.03% | +2577.5% | Q3 2024 |
 IONS | $36M | 1.39% | 0.34% | +266.7% | Q1 2022 |
 CTMX | $35.3M | 1.36% | 6.71% | Not reported | Q1 2020 |
| EOLS | $33.7M | 1.30% | 8.47% | +9.8% | Q4 2019 |
| AVDL | $32M | 1.23% | 2.16% | Not reported | Q3 2023 |
| ACAD | $32M | 1.23% | 0.89% | Not reported | Q3 2023 |
| VRTX | $31.3M | 1.21% | 0.03% | +700.0% | Q2 2025 |
| ANIP | $29.1M | 1.12% | 1.50% | Not reported | Q4 2021 |
| INSM | $28.8M | 1.11% | 0.09% | Not reported | Q3 2022 |
 LEGN | $27.1M | 1.04% | 0.23% | Not reported | Q4 2021 |
| BNTX | $26.6M | 1.02% | 0.11% | Not reported | Q1 2022 |
 LQDA | $26M | 1.00% | 1.32% | Not reported | Q1 2024 |
 JAZZ | $25M | 0.96% | 0.31% | Not reported | Q2 2024 |
| NVDA | $24.4M | 0.94% | 0.00% | Not reported | Q1 2024 |
| VKTX | $22.9M | 0.88% | 0.77% | +135.1% | Q1 2024 |
 KROS | $22.4M | 0.86% | 3.49% | Not reported | Q1 2025 |
 NBIX | $21.1M | 0.81% | 0.15% | Not reported | Q3 2024 |
| URGN | $20M | 0.77% | 2.14% | Not reported | Q2 2025 |
| DVAX | $19.4M | 0.75% | 1.66% | Not reported | Q3 2022 |
| META | $19.1M | 0.74% | Not reported | Not reported | Q1 2024 |
 ZYME | $18.8M | 0.72% | 1.46% | Not reported | Q4 2022 |
| GSK | $17.3M | 0.66% | 0.01% | Not reported | Q4 2023 |
| JANX | $17.1M | 0.66% | 1.16% | +250.0% | Q4 2024 |
| TVTX | $16.7M | 0.64% | 0.78% | Not reported | Q2 2025 |
| NUVB | $15.5M | 0.60% | 1.24% | +7.7% | Q4 2023 |
 ADMA | $15.4M | 0.59% | 0.44% | Not reported | Q3 2022 |
| NKTX | $14.6M | 0.56% | 9.93% | Not reported | Q1 2022 |
 REPL | $14.2M | 0.55% | 4.34% | +6.3% | Q2 2024 |
| AVIR | $14M | 0.54% | 6.18% | -1.3% | Q1 2023 |
 DSGN | $13.4M | 0.52% | 3.13% | Not reported | Q3 2023 |
| DERM | $13.2M | 0.51% | 16.05% | Not reported | Q3 2023 |
 ABCL | $13.1M | 0.50% | 0.87% | Not reported | Q2 2024 |