Biotech Portfolio Expansion
Stempoint Capital Significantly Expands Diverse Biotech Portfolio Across Multiple Key Firms in Q1
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Key Points
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Stempoint Capital LP bought 28,707 additional shares of Assembly Biosciences in the first quarter, boosting its total to 185,435 shares valued at about $5.15 million.
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Zura Bio Limited attracted analyst coverage alongside Stempoint's new stake, with William Blair initiating coverage with an outperform rating, Wedbush also issuing an outperform rating with a $15 price target, and Weiss Ratings signaling a sell on the stock.
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Dianthus Therapeutics remains a notable holding for Stempoint, now ranking as the 27th largest in its portfolio and accounting for about 1.4% of the portfolio with a stake of 85,502 shares worth roughly $7.18 million.
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Spyre Therapeutics shows a major jump in Stempoint’s holdings to 167,606 shares (up 417.7%), about 1.6% of Stempoint’s portfolio and ranking as the 21st largest holding, with institutional ownership comprising around 80.4% of Spyre’s stock.
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Immunocore Holdings remains heavily institutional-owned (about 84.5%), as Stempoint opened a new 63,543-share position worth approximately $1.92 million, with major institutional holders including Millennium Management, Vestal Point, Janus Henderson, Bellevue Group, and Tang Capital among others.
Stempoint Capital LP made a broad push into biotech during the first quarter, expanding stakes in five biopharma companies and opening at least two brand-new positions, according to Watchlist News. The firm's biggest move was a 418% surge in its Spyre Therapeutics holding, which now stands at 167,606 shares and ranks as its 21st largest position.
The wave of buying also touched Assembly Biosciences, Zura Bio, Dianthus Therapeutics, and Immunocore Holdings. Together, the moves paint a picture of a fund aggressively building exposure across high-growth life sciences names.
Spyre and Zura Bio Draw the Biggest New Money
Stempoint's Spyre Therapeutics position jumped by 417.7% to 167,606 shares, according to Watchlist News. That now makes Spyre about 1.6% of the firm's total portfolio. Institutional investors as a whole own roughly 80.4% of Spyre's stock, signaling wide professional interest in the company.
Zura Bio was a fresh buy for Stempoint. The firm picked up about 753,520 shares worth roughly $4.5 million. The timing lined up with fresh analyst attention on Zura. William Blair started coverage with an outperform rating, and Wedbush matched that call with a $15 price target. Weiss Ratings, however, issued a sell signal on the stock.
Assembly Biosciences Stake Climbs to $5.15 Million
Stempoint added 28,707 shares of Assembly Biosciences in the quarter, lifting its total to 185,435 shares, per Watchlist News. The position is now worth about $5.15 million. That 18.3% increase marks a steady, deliberate build — not a one-time bet.
Dianthus and Immunocore Round Out the Portfolio Push
Dianthus Therapeutics got a 7.8% boost, bringing Stempoint's stake to 85,502 shares worth roughly $7.18 million, according to Watchlist News. That makes it the 27th largest holding in the fund, accounting for about 1.4% of the portfolio.
Stempoint also opened a new position in Immunocore Holdings — 63,543 shares worth about $1.92 million. Immunocore is heavily backed by big institutions, with roughly 84.5% of shares held by players like Millennium Management, Janus Henderson, and Bellevue Group, per Watchlist News.
Stempoint Also Bought Into Ionis, CG Oncology, and Protagonist
The biotech buying didn't stop at five names. Stempoint opened a new stake in Ionis Pharmaceuticals — 26,385 shares worth about $1.98 million — and bought 205,622 shares of CG Oncology, making it the fund's 11th largest holding, according to Watchlist News. It also raised its Protagonist Therapeutics stake by 22.1% to 72,577 shares.
On the sell side, Stempoint cut its Whitehawk Therapeutics position by 35.6%, shedding 519,438 shares. That leaves it with 939,369 shares of WHWK. The trim shows the fund is not buying blindly — it is reshaping, not just growing.
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