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Portfolio (Quarterly) Guide ↗

TANG CAPITAL MANAGEMENT LLC

· CIK 0001232621
13F Portfolio $2.6B AUM Filed Nov 14, 2025 EDGAR ↗ ← All Funds
Q4 2025 Q3 2025 · All 194 New
Page 5 of 10  ·  194 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
81 VERASTEM INC 789,810.0 $7.0M 0.27% NEW $8.83
82 PMVP PMV PHARMACEUTICALS, INC. Healthcare 4,785,201.0 $6.7M 0.26% NEW $1.40 -7.5%
83 BLCO BAUSCH PLUS LOMB CORP Healthcare 444,467.0 $6.7M 0.26% NEW $15.07 +6.8%
84 ACET ADICET BIO INC Healthcare 8,223,612.0 $6.7M 0.26% NEW $0.81 +829.6%
85 CGEM CULLINAN THERAPEUTICS INC Healthcare 1,121,138.0 $6.6M 0.26% NEW $5.93 +161.9%
86 CRSP CRISPR THERAPEUTICS AG Healthcare 100,000.0 $6.5M 0.25% NEW $64.81 -24.7%
87 BEAM BEAM THERAPEUTICS INC Healthcare 255,000.0 $6.2M 0.24% NEW $24.27 +14.5%
88 GMAB GENMAB A/S Healthcare 200,000.0 $6.1M 0.24% NEW $30.67 -13.8%
89 BCRX BIOCRYST PHARMACEUTICALS INC Healthcare 800,000.0 $6.1M 0.23% NEW $7.59 +17.2%
90 IMMUNITYBIO INC 2,333,333.0 $5.7M 0.22% NEW $2.46
91 REGN REGENERON PHARMACEUTICALS Healthcare 10,000.0 $5.6M 0.22% NEW $562.27 +8.8%
92 PYXS PYXIS ONCOLOGY INC Healthcare 2,500,000.0 $5.5M 0.21% NEW $2.22 -6.3%
93 CYTK CYTOKINETICS INC Healthcare 100,000.0 $5.5M 0.21% NEW $54.96 +37.4%
94 BIIB BIOGEN INC Healthcare 35,000.0 $4.9M 0.19% NEW $140.08 +35.8%
95 CNTA CENTESSA PHARMACEUTICALS PLC Healthcare 200,000.0 $4.8M 0.19% NEW $24.25 +63.3%
96 SNY SANOFI Healthcare 100,000.0 $4.7M 0.18% NEW $47.20 -8.6%
97 RVMD REVOLUTION MEDICINES INC Healthcare 100,000.0 $4.7M 0.18% NEW $46.70 +212.2%
98 ALMS ALUMIS INC Healthcare 1,167,009.0 $4.7M 0.18% NEW $3.99 +476.6%
99 HRTX HERON THERAPEUTICS INC Healthcare 3,450,000.0 $4.3M 0.17% NEW $1.26 -32.0%
100 NUVL NUVALENT INC Healthcare 50,000.0 $4.3M 0.17% NEW $86.48 +17.0%
Page 5 of 10  ·  194 positions

Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation
Healthcare 94.4%
Consumer Cyclical 2.3%
Technology 1.3%
Communication Services 1.0%
Financial Services 0.3%
Real Estate 0.2%
Consumer Defensive 0.2%
Industrials 0.1%
Energy 0.1%
Utilities 0.0%