Cormorant Asset Management, LP

Cormorant Asset Management liquidates ~10% stake in Bright Minds Biosciences for ~$9.8M as stock rallies near highs.

Cormorant Asset Management, a large shareholder holding ten percent of Bright Minds Biosciences, sold roughly a tenth of its position shortly after the stock rallied sharply. The timing is notable: the stock has recovered strongly over recent weeks and is now trading just below its 52-week highs, yet the fund chose to exit a material portion of its holdings at these elevated levels rather than hold through. This is institutional portfolio management rather than insider knowledge-driven selling—Cormorant is rebalancing its position, not flagging internal concerns. However, the size of the sale ($9.8M) and the decision to reduce exposure near all-time prices suggests the fund may view current valuations as an attractive exit opportunity after strong momentum. For retail investors, this is a neutral signal: it reflects fund capital allocation, not management confidence or distress.

Cormorant Asset Management fully exits 1.81M shares (1,813,439) at $1.85; stock down -88.6% from 52-week high.

Cormorant Asset Management sold 1,813,439 shares (1.81M shares) at $1.85 on 2025-05-15, reducing holdings to 0 shares—a complete exit from the position. The sale occurred when the stock was already significantly depressed, trading -88.6% from its 52-week high of $19.21 and down -23.9% over the prior 30 days. OKUR is unprofitable with net income of $-15,925,000.00 ($-15.9M) over its most recent full fiscal year and a $73.5M market cap. The insider's cross-ticker track record shows strong prior execution (20 prior buys with +285.0% avg 30d return and 65% win rate), but the full liquidation at depressed levels in a loss-making company—after the stock has already fallen sharply—occurs when recovery is uncertain. The timing and size of this exit should be examined for what it signals about fundamental expectations going forward.

Cormorant Asset Management buys 187,500 AARD shares at $16.00; cluster pattern with 3 other insider buys in 14 days.

Cormorant Asset Management purchased 187,500 shares of Aardvark Therapeutics at $16.00 for a total value of $3,000,000.00, increasing its holdings by 23.4% to 987,689 shares. This transaction is part of a documented cluster in which 3 other insiders also bought within the past 14 days, suggesting synchronized confidence in the stock at a time when AARD is only 4 trading days into its public listing. The purchase was executed above the current market price of $14.90 as of 2025-02-19, indicating the insider was willing to commit capital in early trading. The derivative-conversion nature of this filing means the insider may hold additional derivative securities not yet visible in the database, so the Table I shares represent only a portion of the complete economic position.

Cormorant Asset Management bought 184,331 shares of DRUG at $21.70 on 2024-11-04, growing holdings to 1,059,331 shares.

Cormorant Asset Management, a 10% owner, purchased 184,331 shares at $21.70 for $3,999,982.70 on 2024-11-04, increasing holdings by 21.1% to 1,059,331 shares. The transaction occurred at a price 61.1% below the current price of $55.77, which represents a 52-week high. However, the insider's cross-ticker track record shows 20 prior buys with an average 90-day return of -27.2% and a 0.00% win rate, raising questions about timing accuracy. At the same-ticker level (DRUG), the insider completed 5 prior trades in October 2024 with outcomes still unmeasurable, creating a limited basis to assess conviction or pattern at this specific company.

10% owner Cormorant Asset Management LP acquired 422,591 shares across 11 transactions for $3.2M (avg $7.65/sh) on Oct 15–16; stock now +1582.2% in 30d.

Cormorant Asset Management filed 11 separate purchases totaling 422,591 shares for $3,234,386.83 over two trading days (Oct 15–16), increasing its stake from 452,409 to 875,000 shares (+93.4%). The blended average price paid was $7.65, substantially below the current price of $21.70. The stock has surged +1582.2% over the past 30 days and +1770.7% over 90 days from historically depressed levels (52-week range $0.96–$38.49), suggesting the purchase may have been executed during a recovery from distressed valuation. However, the insider's cross-ticker track record shows prior open-market purchases averaging -26.8% return over 30 days and -37.1% over 90 days, with a 0% win rate on prior buys—a pattern that contrasts sharply with the dramatic recent upside in this specific stock. The volume and pricing ladder of the purchases (ranging from $4.53 to $25.22) suggests systematic accumulation rather than a single-block transaction.

Cormorant Asset Management bought 450,000 BIOA shares at $18.00 (9.1% under current price) in 4-day-old IPO; +38.2% to holdings amid cluster buy pattern.

Cormorant Asset Management purchased 450,000 shares at $18.00 on 2024-09-27, increasing its post-transaction holdings to 1,629,529 shares, a +38.2% increase from 1,179,529 shares. The purchase price sits $2.25 below the current price of $20.25 as of 2024-10-01, four trading days after the transaction. This activity is part of a cluster of 4 other insider buys within the past 14 days, indicating coordinated accumulation during the stock's nascent public trading period. The filing contains a derivative-conversion component (Form 4 Table II), so the reported Table I position does not represent Cormorant's complete holdings and should be interpreted as a partial measure of equity exposure.

Cormorant Asset Mgmt buys 350,000 CRBP shares in 6 transactions for $7.0M; stock down 70.2% YTD, company unprofitable, -100% revenue decline.

Cormorant Asset Management acquired 350,000 shares in 6 separate open-market purchases on 2024-09-20 for $7,003,760.62, raising its stake to 2,375,000 shares (+17.3% from pre-transaction holdings). The acquisition spans prices from $17.48 to $22.23 per share, with a blended average of $20.01, significantly above the current price of $18.34. Corbus Pharmaceuticals is facing severe operational headwinds: latest quarter revenue was $0.00, annual revenue growth contracted -100.0%, and the company reported net income of -$9,997,000 over its most recent full fiscal year. Against this backdrop, the stock has declined 70.2% from its 52-week high and 69.3% over 30 days. In prior trades at CRBP (3 buys on 2024-03-08), Cormorant's 90-day outcomes were positive (returns of +1.4%, +7.7%, and +10.3%), suggesting a pattern of well-timed entry points at this ticker; however, the current macroeconomic and operational context differs materially from those prior purchases six months ago. Investors should monitor whether this accumulation reflects confidence in a turnaround or is driven by other factors, given the company's present unprofitability and revenue collapse.