Vestal Point Capital, LP — Quarter-over-Quarter 13F Allocation Shifts Q1 2026
In Q1 2026, Vestal Point Capital, LP initiated 37 new positions, increased allocation to 10 existing positions, trimmed 10 positions, and exited 22 positions entirely. The fund's 13F equity book grew from $2.73B to $3.58B (+31.2% 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
- $2.73BPrior quarter
- $3.58BCurrent quarter
- + $0.85BNet delta
- +31.2%% 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.
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 |
|---|---|---|---|---|
| DYNE THERAPEUTICS INC | DYN | +1.94% | +3233.33% | Holders → |
| REPLIGEN CORP | RGEN | +2.55% | +1014.46% | History → |
| NUVALENT INC | NUVL | +1.21% | +947.21% | Holders → |
| REVOLUTION MEDICINES INC | RVMD | +5.60% | +705.08% | History → |
| IMMUNOCORE HOLDINGS PLC | IMCR | +1.59% | +372.97% | Holders → |
| MONTE ROSA THERAPEUTICS INC | GLUE | +1.21% | +364.96% | Holders → |
| BRISTOL-MYERS SQUIBB CO | BMY | +1.20% | +300.00% | Holders → |
| DENALI THERAPEUTICS INC | DNLI | +0.67% | +281.36% | Holders → |
| BETA BIONICS INC | BBNX | +-0.05% | +268.59% | Holders → |
| REGENXBIO INC | RGNX | +0.01% | +219.19% | 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 |
|---|---|---|---|---|
| TYRA BIOSCIENCES INC | TYRA | -2.28% | -97.77% | Holders → |
| TERNS PHARMACEUTICALS INC | TERN | -5.19% | -77.78% | Holders → |
| GERON CORP | GERN | -0.44% | -77.56% | Holders → |
| OLEMA PHARMACEUTICALS INC | OLMA | -1.33% | -74.03% | Holders → |
| NOVOCURE LTD | NVCR | -0.17% | -52.38% | Holders → |
| GLOBUS MEDICAL INC | GMED | -2.61% | -52.12% | Holders → |
| ALCON AG | ALC | -1.51% | -27.60% | Holders → |
| NYXOAH SA | NYXH | -0.12% | -21.53% | Holders → |
| ABIVAX S.A. | ABVX | -4.73% | -21.05% | History → |
| ALTO NEUROSCIENCE, INC. | ANRO | -0.33% | -16.94% | 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 |
|---|---|---|
| ARCELLX INC | ACLX | 7.00% |
| DEXCOM INC | DXCM | 3.10% |
| MERCK & CO INC | MRK | 2.99% |
| ABBOTT LABS | ABT | 2.76% |
| JAZZ PHARMACEUTICALS PLC | JAZZ | 1.81% |
| DAY ONE BIOPHARMACEUTICALS I | SYN_23954D109 | 1.78% |
| AXSOME THERAPEUTICS | AXSM | 1.41% |
| LANTHEUS HLDGS INC | LNTH | 0.88% |
| ZYMEWORKS INC | ZYME | 0.84% |
| UPSTREAM BIO INC | UPB | 0.72% |
| PENUMBRA INC | PEN | 0.57% |
| MIND MEDICINE MINDMED INC | SYN_60255C885 | 0.31% |
| GILEAD SCIENCES INC | GILD | 0.23% |
| DBV TECHNOLOGIES S.A. | DBVT | 0.21% |
| MIRUM PHARMACEUTICALS INC | MIRM | 0.19% |
| LENZ THERAPEUTICS INC | LENZ | 0.16% |
| REZOLUTE INC | RZLT | 0.15% |
| SUTRO BIOPHARMA INC | STRO | 0.10% |
| STRUCTURE THERAPEUTICS INC. | GPCR | 0.09% |
| BLACK DIAMOND THERAPEUTICS INC | BDTX | 0.08% |
| FATE THERAPEUTICS INC | FATE | 0.06% |
| ALECTOR INC | ALEC | 0.04% |
Methodology & FAQ
How Vestal Point Capital, LP Quarterly Changes Are Computed
Each row above is computed by joining the most recent 13F-HR filing for Vestal Point Capital, 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 Vestal Point Capital, LP initiate in Q1 2026?
Vestal Point Capital, LP established 37 new positions in Q1 2026: NEUROCRINE BIOSCIENCES INC (NBIX, 4.60%), SANOFI SA (SNY, 1.89%), BOSTON SCIENTIFIC CORP (BSX, 1.40%), COGENT BIOSCIENCES INC (COGT, 1.32%), UNITED THERAPEUTICS CORP (UTHR, 1.24%), BRIGHT MINDS BIOSCIENCES INC (DRUG, 1.00%), PROTAGONIST THERAPEUTICS INC (PTGX, 0.96%), REGENERON PHARMACEUTICALS, INC. (REGN, 0.86%), WATERS CORP (WAT, 0.83%), VIKING THERAPEUTICS INC (VKTX, 0.83%), INSPIRE MEDICAL SYSTEMS INC (INSP, 0.78%), TREVI THERAPEUTICS INC (TRVI, 0.72%), SOLENO THERAPEUTICS INC (SLNO, 0.68%), NEKTAR THERAPEUTICS (NKTR, 0.57%), CYTOKINETICS INC (CYTK, 0.55%), ASTRAZENECA PLC (AZN, 0.55%), WEST PHARMACEUTICAL SERVICES I (WST, 0.53%), GE HEALTHCARE TECHNOLOGIES INC. (GEHC, 0.50%), SPYGLASS PHARMA INC (SGP, 0.48%), MADRIGAL PHARMACEUTICALS INC (MDGL, 0.46%), GENEDX HOLDINGS CORP (WGS, 0.45%), DAMORA THERAPEUTICS INC (DMRA, 0.43%), TARSUS PHARMACEUTICALS INC (TARS, 0.39%), INSULET CORP (PODD, 0.30%), SURROZEN INC (SRZN, 0.28%), ARVINAS INC (ARVN, 0.27%), ANTERIS TECHNOLOGIES GLOBAL CO (AVR, 0.18%), UNIQURE NV (QURE, 0.16%), CANDEL THERAPEUTICS INC (CADL, 0.15%), PALISADE BIO INC (PALI, 0.12%), VERACYTE INC (VCYT, 0.12%), ZENAS BIOPHARMA INC (ZBIO, 0.11%), MONOPAR THERAPEUTICS INC (MNPR, 0.10%), ZURA BIO LTD (ZURA, 0.09%), UROGEN PHARMA LTD (URGN, 0.07%), ABSCI CORPORATION (ABSI, 0.02%), APREA THERAPEUTICS INC (APRE, 0.01%).
Which existing positions saw the largest allocation increases for Vestal Point Capital, LP in Q1 2026?
The largest portfolio-weight increases in existing positions were: DYNE THERAPEUTICS INC (DYN, +1.94% weight, +3233.33% shares), REPLIGEN CORP (RGEN, +2.55% weight, +1014.46% shares), NUVALENT INC (NUVL, +1.21% weight, +947.21% shares), REVOLUTION MEDICINES INC (RVMD, +5.60% weight, +705.08% shares), IMMUNOCORE HOLDINGS PLC (IMCR, +1.59% weight, +372.97% shares), MONTE ROSA THERAPEUTICS INC (GLUE, +1.21% weight, +364.96% shares), BRISTOL-MYERS SQUIBB CO (BMY, +1.20% weight, +300.00% shares), DENALI THERAPEUTICS INC (DNLI, +0.67% weight, +281.36% shares), BETA BIONICS INC (BBNX, +-0.05% weight, +268.59% shares), REGENXBIO INC (RGNX, +0.01% weight, +219.19% shares).
Which positions did Vestal Point Capital, LP fully exit in Q1 2026?
Vestal Point Capital, LP fully exited 22 positions in Q1 2026: ARCELLX INC (ACLX, last-reported weight 7.00%), DEXCOM INC (DXCM, last-reported weight 3.10%), MERCK & CO INC (MRK, last-reported weight 2.99%), ABBOTT LABS (ABT, last-reported weight 2.76%), JAZZ PHARMACEUTICALS PLC (JAZZ, last-reported weight 1.81%), DAY ONE BIOPHARMACEUTICALS I (SYN_23954D109, last-reported weight 1.78%), AXSOME THERAPEUTICS (AXSM, last-reported weight 1.41%), LANTHEUS HLDGS INC (LNTH, last-reported weight 0.88%), ZYMEWORKS INC (ZYME, last-reported weight 0.84%), UPSTREAM BIO INC (UPB, last-reported weight 0.72%), PENUMBRA INC (PEN, last-reported weight 0.57%), MIND MEDICINE MINDMED INC (SYN_60255C885, last-reported weight 0.31%), GILEAD SCIENCES INC (GILD, last-reported weight 0.23%), DBV TECHNOLOGIES S.A. (DBVT, last-reported weight 0.21%), MIRUM PHARMACEUTICALS INC (MIRM, last-reported weight 0.19%), LENZ THERAPEUTICS INC (LENZ, last-reported weight 0.16%), REZOLUTE INC (RZLT, last-reported weight 0.15%), SUTRO BIOPHARMA INC (STRO, last-reported weight 0.10%), STRUCTURE THERAPEUTICS INC. (GPCR, last-reported weight 0.09%), BLACK DIAMOND THERAPEUTICS INC (BDTX, last-reported weight 0.08%), FATE THERAPEUTICS INC (FATE, last-reported weight 0.06%), ALECTOR INC (ALEC, last-reported weight 0.04%).
Which existing positions saw the largest allocation reductions for Vestal Point Capital, LP in Q1 2026?
The largest portfolio-weight reductions in positions kept open were: TYRA BIOSCIENCES INC (TYRA, -2.28% weight, -97.77% shares), TERNS PHARMACEUTICALS INC (TERN, -5.19% weight, -77.78% shares), GERON CORP (GERN, -0.44% weight, -77.56% shares), OLEMA PHARMACEUTICALS INC (OLMA, -1.33% weight, -74.03% shares), NOVOCURE LTD (NVCR, -0.17% weight, -52.38% shares), GLOBUS MEDICAL INC (GMED, -2.61% weight, -52.12% shares), ALCON AG (ALC, -1.51% weight, -27.60% shares), NYXOAH SA (NYXH, -0.12% weight, -21.53% shares), ABIVAX S.A. (ABVX, -4.73% weight, -21.05% shares), ALTO NEUROSCIENCE, INC. (ANRO, -0.33% weight, -16.94% 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.