Paradigm Biocapital Advisors LP — Quarter-over-Quarter 13F Allocation Shifts Q1 2026
In Q1 2026, Paradigm Biocapital Advisors LP initiated 10 new positions, increased allocation to 10 existing positions, trimmed 7 positions, and exited 4 positions entirely. The fund's 13F equity book grew from $3.73B to $4.89B (+31.0% QoQ) . All deltas are sourced from sequential SEC Form 13F-HR filings; share-count changes reflect explicit trading activity, while weight changes can also include price movement. This page lists every position change reported — the portfolio overview shows a summary of the top shifts.
Net Portfolio Value Change
- $3.73BPrior quarter
- $4.89BCurrent quarter
- + $1.16BNet delta
- +31.0%% change
New Position Initiations Q1 2026
Securities disclosed for the first time in Q1 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Allocation Weight | History |
|---|---|---|---|
| INSMED INCORPORATED | INSM | 4.19% | History → |
| BELITE BIO INC | BLTE | 3.63% | History → |
| CENTESSA PHARMACEUTICALS PLC | CNTA | 2.90% | Holders → |
| CYTOKINETICS INC | CYTK | 1.99% | Holders → |
| TANGO THERAPEUTICS INC | TNGX | 1.71% | Holders → |
| MAZE THERAPEUTICS INC | MAZE | 1.67% | Holders → |
| TYRA BIOSCIENCES INC | TYRA | 1.61% | Holders → |
| MIRUM PHARMACEUTICALS INC | MIRM | 1.18% | Holders → |
| VERADERMICS INC | MANE | 0.68% | Holders → |
| STRUCTURE THERAPEUTICS INC. | GPCR | 0.54% | Holders → |
Largest Allocation Increases Q1 2026
Largest portfolio-weight increases in existing positions. Share-count delta is shown separately so price-only re-weighting can be distinguished from active adds.
| Company | Ticker | Δ Weight | Δ Shares | History |
|---|---|---|---|---|
| TERNS PHARMACEUTICALS INC | TERN | +1.51% | +173.55% | Holders → |
| VIRIDIAN THERAPEUTICS, INC. | VRDN | +0.06% | +118.20% | Holders → |
| ORUKA THERAPEUTICS INC | ORKA | +0.94% | +35.67% | Holders → |
| SPYRE THERAPEUTICS, INC. | SYRE | +0.73% | +33.40% | Holders → |
| LEXEO THERAPEUTICS INC | LXEO | +-0.54% | +29.83% | Holders → |
| APOGEE THERAPEUTICS INC | APGE | +0.05% | +20.03% | Holders → |
| VAXCYTE INC | PCVX | +0.67% | +17.82% | History → |
| GENMAB A/S | GMAB | +-1.44% | +13.18% | History → |
| EDGEWISE THERAPEUTICS, INC. | EWTX | +0.39% | +12.59% | History → |
| OLEMA PHARMACEUTICALS INC | OLMA | +-2.61% | +6.31% | Holders → |
Largest Allocation Reductions Q1 2026
Largest portfolio-weight decreases in existing positions (positions kept open at a lower allocation).
| Company | Ticker | Δ Weight | Δ Shares | History |
|---|---|---|---|---|
| UROGEN PHARMA LTD | URGN | -2.18% | -61.91% | Holders → |
| BRIDGEBIO ONCOLOGY THERAPEUT | BBOT | -0.60% | -61.61% | Holders → |
| SCHOLAR ROCK HLDG CORP | SRRK | -2.38% | -59.96% | Holders → |
| ABIVAX S.A. | ABVX | -3.36% | -45.50% | Holders → |
| ORIC PHARMACEUTICALS INC | ORIC | -0.09% | -29.15% | Holders → |
| ERASCA INC | ERAS | 2.03% | -26.60% | History → |
| EYEPOINT INC | EYPT | -0.98% | -14.87% | Holders → |
Exited Positions Q1 2026
Positions present in the prior 13F-HR filing that no longer appear in Q1 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| CIDARA THERAPEUTICS INC | SYN_171757206 | 4.49% |
| CRINETICS PHARMACEUTICALS, INC. | CRNX | 2.76% |
| BRIDGEBIO PHARMA INC | BBIO | 1.40% |
| OCULAR THERAPEUTIX INC | OCUL | 0.95% |
Methodology & FAQ
How Paradigm Biocapital Advisors LP Quarterly Changes Are Computed
Each row above is computed by joining the most recent 13F-HR filing for Paradigm Biocapital Advisors LP against the immediately preceding quarterly filing for the same fund. Portfolio weights are normalized to exclude listed options for comparability. A complete description of the methodology — including how confidential treatment filings are handled and why share count rather than weight is the cleaner trading signal — is documented in the Methodology.
Which positions did Paradigm Biocapital Advisors LP initiate in Q1 2026?
Paradigm Biocapital Advisors LP established 10 new positions in Q1 2026: INSMED INCORPORATED (INSM, 4.19%), BELITE BIO INC (BLTE, 3.63%), CENTESSA PHARMACEUTICALS PLC (CNTA, 2.90%), CYTOKINETICS INC (CYTK, 1.99%), TANGO THERAPEUTICS INC (TNGX, 1.71%), MAZE THERAPEUTICS INC (MAZE, 1.67%), TYRA BIOSCIENCES INC (TYRA, 1.61%), MIRUM PHARMACEUTICALS INC (MIRM, 1.18%), VERADERMICS INC (MANE, 0.68%), STRUCTURE THERAPEUTICS INC. (GPCR, 0.54%).
Which existing positions saw the largest allocation increases for Paradigm Biocapital Advisors LP in Q1 2026?
The largest portfolio-weight increases in existing positions were: TERNS PHARMACEUTICALS INC (TERN, +1.51% weight, +173.55% shares), VIRIDIAN THERAPEUTICS, INC. (VRDN, +0.06% weight, +118.20% shares), ORUKA THERAPEUTICS INC (ORKA, +0.94% weight, +35.67% shares), SPYRE THERAPEUTICS, INC. (SYRE, +0.73% weight, +33.40% shares), LEXEO THERAPEUTICS INC (LXEO, +-0.54% weight, +29.83% shares), APOGEE THERAPEUTICS INC (APGE, +0.05% weight, +20.03% shares), VAXCYTE INC (PCVX, +0.67% weight, +17.82% shares), GENMAB A/S (GMAB, +-1.44% weight, +13.18% shares), EDGEWISE THERAPEUTICS, INC. (EWTX, +0.39% weight, +12.59% shares), OLEMA PHARMACEUTICALS INC (OLMA, +-2.61% weight, +6.31% shares).
Which positions did Paradigm Biocapital Advisors LP fully exit in Q1 2026?
Paradigm Biocapital Advisors LP fully exited 4 positions in Q1 2026: CIDARA THERAPEUTICS INC (SYN_171757206, last-reported weight 4.49%), CRINETICS PHARMACEUTICALS, INC. (CRNX, last-reported weight 2.76%), BRIDGEBIO PHARMA INC (BBIO, last-reported weight 1.40%), OCULAR THERAPEUTIX INC (OCUL, last-reported weight 0.95%).
Which existing positions saw the largest allocation reductions for Paradigm Biocapital Advisors LP in Q1 2026?
The largest portfolio-weight reductions in positions kept open were: UROGEN PHARMA LTD (URGN, -2.18% weight, -61.91% shares), BRIDGEBIO ONCOLOGY THERAPEUT (BBOT, -0.60% weight, -61.61% shares), SCHOLAR ROCK HLDG CORP (SRRK, -2.38% weight, -59.96% shares), ABIVAX S.A. (ABVX, -3.36% weight, -45.50% shares), ORIC PHARMACEUTICALS INC (ORIC, -0.09% weight, -29.15% shares), ERASCA INC (ERAS, 2.03% weight, -26.60% shares), EYEPOINT INC (EYPT, -0.98% weight, -14.87% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity.