Vestal Point Capital, LP 13F: Quarter-over-Quarter Portfolio Changes
Vestal Point Capital, LP reported a disclosed portfolio value of approximately $3.6 billion in its latest SEC Form 13F-HR filing for Q1 2026, up 31.2% quarter on quarter. Over the quarter, the fund initiated 37 new positions, bought more shares in 33 holdings, trimmed 14 holdings, and exited 22 positions.
Vestal Point Capital, LP's top buy was a new stake in Neurocrine Biosciences INC (NBIX) , equal to 4.6% of the disclosed portfolio. Its top sell was Arcellx INC (ACLX) . The fund exited the position completely after it had accounted for 7.0% of the previous portfolio.
New PositionsQ1 2026
Securities disclosed for the first time in Q1 2026 that were not present in the prior 13F-HR filing.
Top BuysQ1 2026
Showing the top 10 buys among 33 existing positions where the fund bought more shares in Q1 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| DYNE THERAPEUTICS INC | DYN | +1.9% | +3233.3% | Holders → |
| REPLIGEN CORP | RGEN | +2.5% | +1014.5% | History → |
| NUVALENT INC | NUVL | +1.2% | +947.2% | Holders → |
| REVOLUTION MEDICINES INC | RVMD | +5.6% | +705.1% | History → |
| IMMUNOCORE HLDGS PLC | IMCR | +1.6% | +373.0% | Holders → |
| MONTE ROSA THERAPEUTICS INC | GLUE | +1.2% | +365.0% | Holders → |
| BRISTOL-MYERS SQUIBB CO | BMY | +1.2% | +300.0% | Holders → |
| DENALI THERAPEUTICS INC | DNLI | +0.7% | +281.4% | Holders → |
| BETA BIONICS INC | BBNX | +-0.1% | +268.6% | Holders → |
| REGENXBIO INC | RGNX | +0.0% | +219.2% | Holders → |
Top SellsQ1 2026
Showing the top 10 sells among 14 existing positions where the fund sold shares in Q1 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| TYRA BIOSCIENCES INC | TYRA | -2.3% | 97.8% | Holders → |
| TERNS PHARMACEUTICALS INC | TERN | -5.2% | 77.8% | Holders → |
| GERON CORP | GERN | -0.4% | 77.6% | Holders → |
| OLEMA PHARMACEUTICALS INC | OLMA | -1.3% | 74.0% | Holders → |
| NOVOCURE LTD | NVCR | -0.2% | 52.4% | Holders → |
| GLOBUS MED INC | GMED | -2.6% | 52.1% | Holders → |
| ALCON AG | ALC | -1.5% | 27.6% | Holders → |
| NYXOAH SA | NYXH | -0.1% | 21.5% | Holders → |
| ABIVAX SA | ABVX | -4.7% | 21.1% | History → |
| ALTO NEUROSCIENCE INC | ANRO | -0.3% | 16.9% | Holders → |
Full ExitsQ1 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 | 7.0% |
| DEXCOM INC | DXCM | 3.1% |
| MERCK & CO INC | MRK | 3.0% |
| ABBOTT LABORATORIES | ABT | 2.8% |
| JAZZ PHARMACEUTICALS PLC | JAZZ | 1.8% |
| DAY ONE BIOPHARMACEUTICALS I | DAWNGBX | 1.8% |
| AXSOME THERAPEUTICS | AXSM | 1.4% |
| LANTHEUS HLDGS INC | LNTH | 0.9% |
| ZYMEWORKS INC | ZYME | 0.8% |
| UPSTREAM BIO INC | UPB | 0.7% |
| PENUMBRA INC | PEN | 0.6% |
| MIND MEDICINE MINDMED INC | BRD1EUR | 0.3% |
| GILEAD SCIENCES INC | GILD | 0.2% |
| DBV TECHNOLOGIES S A | DBVT | 0.2% |
| MIRUM PHARMACEUTICALS INC | MIRM | 0.2% |
| LENZ THERAPEUTICS INC | LENZ | 0.2% |
| REZOLUTE INC | RZLT | 0.1% |
| SUTRO BIOPHARMA INC | STRO | 0.1% |
| STRUCTURE THERAPEUTICS INC | GPCR | 0.1% |
| BLACK DIAMOND THERAPEUTICS INC | BDTX | 0.1% |
| FATE THERAPEUTICS INC | FATE | 0.1% |
| ALECTOR INC | ALEC | 0.0% |
Net Portfolio Value ChangeQ1 2026
- $2.7BPrior quarter
- $3.6BCurrent quarter
- +$0.9BNet delta
- +31.2%% change
Methodology & FAQ
How Vestal Point Capital, LP Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for Vestal Point Capital, LP: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description — including how confidential treatment filings are handled — is documented in the Methodology.
What stocks did Vestal Point Capital, LP buy in Q1 2026?
In Q1 2026, Vestal Point Capital, LP initiated 37 new positions (NEUROCRINE BIOSCIENCES INC (NBIX), SANOFI SA (SNY), BOSTON SCIENTIFIC CORP (BSX), COGENT BIOSCIENCES INC (COGT), UNITED THERAPEUTICS CORP DEL (UTHR), BRIGHT MINDS BIOSCIENCES INC (DRUG), PROTAGONIST THERAPEUTICS INC (PTGX), REGENERON PHARMACEUTICALS (REGN), WATERS CORP (WAT), VIKING THERAPEUTICS INC (VKTX), INSPIRE MEDICAL SYSTEMS INC (INSP), TREVI THERAPEUTICS INC (TRVI), SOLENO THERAPEUTICS INC (SLNO), NEKTAR THERAPEUTICS (NKTR), CYTOKINETICS INC (CYTK), ASTRAZENECA PLC (AZN), WEST PHARMACEUTICAL SERVICES I (WST), GE HEALTHCARE TECHNOLOGIES INC (GEHC), SPYGLASS PHARMA INC (SGP), MADRIGAL PHARMACEUTICALS INC (MDGL), GENEDX HOLDINGS CORP (WGS), DAMORA THERAPEUTICS INC (DMRA), TARSUS PHARMACEUTICALS INC (TARS), INSULET CORP (PODD), SURROZEN INC COM NEW (SRZN), ARVINAS INC (ARVN), ANTERIS TECHNOLOGIES GLOBAL (AVR), UNIQURE NV (QURE), CANDEL THERAPEUTICS INC (CADL), PALISADE BIO INC (PALI), VERACYTE INC (VCYT), ZENAS BIOPHARMA INC (ZBIO), MONOPAR THERAPEUTICS INC (MNPR), ZURA BIO LTD (ZURA), UROGEN PHARMA LTD (URGN), ABSCI CORPORATION (ABSI), APREA THERAPEUTICS INC (APRE)); bought more shares of DYNE THERAPEUTICS INC (DYN), REPLIGEN CORP (RGEN), NUVALENT INC (NUVL), REVOLUTION MEDICINES INC (RVMD), IMMUNOCORE HLDGS PLC (IMCR) — the largest 5 of 33 adds.
What stocks did Vestal Point Capital, LP sell in Q1 2026?
In Q1 2026, Vestal Point Capital, LP fully sold 22 positions (ARCELLX INC (ACLX), DEXCOM INC (DXCM), MERCK & CO INC (MRK), ABBOTT LABORATORIES (ABT), JAZZ PHARMACEUTICALS PLC (JAZZ), DAY ONE BIOPHARMACEUTICALS I (DAWNGBX), AXSOME THERAPEUTICS (AXSM), LANTHEUS HLDGS INC (LNTH), ZYMEWORKS INC (ZYME), UPSTREAM BIO INC (UPB), PENUMBRA INC (PEN), MIND MEDICINE MINDMED INC (BRD1EUR), GILEAD SCIENCES INC (GILD), DBV TECHNOLOGIES S A (DBVT), MIRUM PHARMACEUTICALS INC (MIRM), LENZ THERAPEUTICS INC (LENZ), REZOLUTE INC (RZLT), SUTRO BIOPHARMA INC (STRO), STRUCTURE THERAPEUTICS INC (GPCR), BLACK DIAMOND THERAPEUTICS INC (BDTX), FATE THERAPEUTICS INC (FATE), ALECTOR INC (ALEC)); reduced holdings in TYRA BIOSCIENCES INC (TYRA), TERNS PHARMACEUTICALS INC (TERN), GERON CORP (GERN), OLEMA PHARMACEUTICALS INC (OLMA), NOVOCURE LTD (NVCR) — the largest 5 of 14 reductions.
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, 4.6%), SANOFI SA (SNY, 1.9%), BOSTON SCIENTIFIC CORP (BSX, 1.4%), COGENT BIOSCIENCES INC (COGT, 1.3%), UNITED THERAPEUTICS CORP DEL (UTHR, 1.2%), BRIGHT MINDS BIOSCIENCES INC (DRUG, 1.0%), PROTAGONIST THERAPEUTICS INC (PTGX, 1.0%), REGENERON PHARMACEUTICALS (REGN, 0.9%), WATERS CORP (WAT, 0.8%), VIKING THERAPEUTICS INC (VKTX, 0.8%), INSPIRE MEDICAL SYSTEMS INC (INSP, 0.8%), TREVI THERAPEUTICS INC (TRVI, 0.7%), SOLENO THERAPEUTICS INC (SLNO, 0.7%), NEKTAR THERAPEUTICS (NKTR, 0.6%), CYTOKINETICS INC (CYTK, 0.6%), ASTRAZENECA PLC (AZN, 0.6%), WEST PHARMACEUTICAL SERVICES I (WST, 0.5%), GE HEALTHCARE TECHNOLOGIES INC (GEHC, 0.5%), SPYGLASS PHARMA INC (SGP, 0.5%), MADRIGAL PHARMACEUTICALS INC (MDGL, 0.5%), GENEDX HOLDINGS CORP (WGS, 0.4%), DAMORA THERAPEUTICS INC (DMRA, 0.4%), TARSUS PHARMACEUTICALS INC (TARS, 0.4%), INSULET CORP (PODD, 0.3%), SURROZEN INC COM NEW (SRZN, 0.3%), ARVINAS INC (ARVN, 0.3%), ANTERIS TECHNOLOGIES GLOBAL (AVR, 0.2%), UNIQURE NV (QURE, 0.2%), CANDEL THERAPEUTICS INC (CADL, 0.2%), PALISADE BIO INC (PALI, 0.1%), VERACYTE INC (VCYT, 0.1%), ZENAS BIOPHARMA INC (ZBIO, 0.1%), MONOPAR THERAPEUTICS INC (MNPR, 0.1%), ZURA BIO LTD (ZURA, 0.1%), UROGEN PHARMA LTD (URGN, 0.1%), ABSCI CORPORATION (ABSI, 0.0%), APREA THERAPEUTICS INC (APRE, 0.0%).
Which existing positions saw the largest allocation increases for Vestal Point Capital, LP in Q1 2026?
Of 33 existing positions with share-count increases in Q1 2026, the largest were: DYNE THERAPEUTICS INC (DYN, +1.9% weight, +3233.3% shares), REPLIGEN CORP (RGEN, +2.5% weight, +1014.5% shares), NUVALENT INC (NUVL, +1.2% weight, +947.2% shares), REVOLUTION MEDICINES INC (RVMD, +5.6% weight, +705.1% shares), IMMUNOCORE HLDGS PLC (IMCR, +1.6% weight, +373.0% shares), MONTE ROSA THERAPEUTICS INC (GLUE, +1.2% weight, +365.0% shares), BRISTOL-MYERS SQUIBB CO (BMY, +1.2% weight, +300.0% shares), DENALI THERAPEUTICS INC (DNLI, +0.7% weight, +281.4% shares), BETA BIONICS INC (BBNX, +-0.1% weight, +268.6% shares), REGENXBIO INC (RGNX, +0.0% weight, +219.2% 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 7.0%), DEXCOM INC (DXCM, last-reported weight 3.1%), MERCK & CO INC (MRK, last-reported weight 3.0%), ABBOTT LABORATORIES (ABT, last-reported weight 2.8%), JAZZ PHARMACEUTICALS PLC (JAZZ, last-reported weight 1.8%), DAY ONE BIOPHARMACEUTICALS I (DAWNGBX, last-reported weight 1.8%), AXSOME THERAPEUTICS (AXSM, last-reported weight 1.4%), LANTHEUS HLDGS INC (LNTH, last-reported weight 0.9%), ZYMEWORKS INC (ZYME, last-reported weight 0.8%), UPSTREAM BIO INC (UPB, last-reported weight 0.7%), PENUMBRA INC (PEN, last-reported weight 0.6%), MIND MEDICINE MINDMED INC (BRD1EUR, last-reported weight 0.3%), GILEAD SCIENCES INC (GILD, last-reported weight 0.2%), DBV TECHNOLOGIES S A (DBVT, last-reported weight 0.2%), MIRUM PHARMACEUTICALS INC (MIRM, last-reported weight 0.2%), LENZ THERAPEUTICS INC (LENZ, last-reported weight 0.2%), REZOLUTE INC (RZLT, last-reported weight 0.1%), SUTRO BIOPHARMA INC (STRO, last-reported weight 0.1%), STRUCTURE THERAPEUTICS INC (GPCR, last-reported weight 0.1%), BLACK DIAMOND THERAPEUTICS INC (BDTX, last-reported weight 0.1%), FATE THERAPEUTICS INC (FATE, last-reported weight 0.1%), ALECTOR INC (ALEC, last-reported weight 0.0%).
Which existing positions saw the largest allocation reductions for Vestal Point Capital, LP in Q1 2026?
Of 14 existing positions with share-count reductions in Q1 2026, the largest were: TYRA BIOSCIENCES INC (TYRA, -2.3% weight, -97.8% shares), TERNS PHARMACEUTICALS INC (TERN, -5.2% weight, -77.8% shares), GERON CORP (GERN, -0.4% weight, -77.6% shares), OLEMA PHARMACEUTICALS INC (OLMA, -1.3% weight, -74.0% shares), NOVOCURE LTD (NVCR, -0.2% weight, -52.4% shares), GLOBUS MED INC (GMED, -2.6% weight, -52.1% shares), ALCON AG (ALC, -1.5% weight, -27.6% shares), NYXOAH SA (NYXH, -0.1% weight, -21.5% shares), ABIVAX SA (ABVX, -4.7% weight, -21.1% shares), ALTO NEUROSCIENCE INC (ANRO, -0.3% weight, -16.9% 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. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.