Orbimed's Biotech Push
Orbimed Significantly Expands Healthcare Portfolio, Boosting Bicara and Adding Merck in Q1
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In Bicara Therapeutics, beyond Orbimed's 667,300-share holding, several other institutions expanded or initiated stakes, including Siren L.L.C. to 5,802,970 shares (about $115.42 million), Walleye Capital LLC opening a new stake (about $2.15 million), Dimensional Fund Advisors increasing to 109,261 shares (about $2.17 million), Swiss National Bank adding to 55,000 shares (about $1.09 million) and Candriam S.C.A. initiating a new position (about $4.75 million).
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Structure Therapeutics (GPCR) drew notable interest from other large investors: Wellington Management Group LLP increased to 7,121,984 shares, Avoro Capital Advisors LLC to 6,555,555 shares, Janus Henderson Group PLC to 5,090,148 shares, BVF Inc. IL to 3,479,022 shares, and Morgan Stanley to 2,087,834 shares.
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Corbus Pharmaceuticals (CRBP) also attracted other funds: Barclays PLC boosted its CRBP stake by 280% to 14,758 shares (worth about $120,000), and Hudson Bay Capital Management LP opened a new position in the fourth quarter worth roughly $139,000.
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ALX Oncology Holdings (ALXO) saw further institutional activity, with Renaissance Technologies LLC increasing its stake by 73.2% to 732,599 shares; Ameriprise Financial Inc. and Jane Street Group LLC each added positions (Ameriprise in Q3; Jane Street in Q2 with about $84,000), Acadian Asset Management LLC increasing to 1,296,331 shares, and Two Sigma Investments LP rising to 606,671 shares; overall, about 97.97% of ALXO is held by institutions.
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Merck & Co., Inc. (MRK) drew additional institutional activity beyond Orbimed’s 663,400-share purchase, with Intelligence Driven Advisers LLC, Gateway Wealth Partners LLC, Wealth Watch Advisors INC, Blue Chip Partners LLC, and Cypress Capital Group augmenting holdings; institutions collectively own about 76.07% of MRK.
Orbimed Advisors LLC made a bold move in Q1, buying 458,200 more shares of Bicara Therapeutics (BCAX) to reach a total holding of about 667,300 shares, valued at roughly $13.3 million, according to Zolmax. The New York-based healthcare investment firm also opened a brand-new position in Merck & Co. (MRK) — 663,400 shares worth about $79.8 million — signaling a major push into large-cap pharma.
The moves were part of a broader Q1 shopping spree across multiple drugmakers. Orbimed also lifted its stake in Structure Therapeutics by 27%, added to its Corbus Pharmaceuticals position, and opened a fresh stake in ALX Oncology Holdings, according to Zolmax.
Orbimed Loads Up on Bicara and Small-Cap Biotechs
Bicara Therapeutics drew the biggest share increase from Orbimed in Q1. The firm added 458,200 shares, pushing its total to 667,300. Bicara is a clinical-stage biotech focused on cancer treatments. Orbimed was far from alone — Siren L.L.C. holds a massive 5,802,970-share position in BCAX worth about $115.42 million, according to Zolmax.
Other institutions also moved into Bicara during the quarter. Walleye Capital LLC opened a new stake worth about $2.15 million. Dimensional Fund Advisors grew its position to 109,261 shares. The Swiss National Bank added shares to reach 55,000 total. Candriam S.C.A. also started a fresh position worth about $4.75 million.
Structure Therapeutics Attracts Wave of Big-Name Buyers
Orbimed raised its Structure Therapeutics (GPCR) stake by 27% to 1,475,403 shares, worth about $71.1 million, per Zolmax. But some of Wall Street's heavyweights were buying even bigger. Wellington Management Group LLP holds 7,121,984 shares. Avoro Capital Advisors holds 6,555,555 shares. Janus Henderson Group PLC owns 5,090,148 shares.
BVF Inc. IL holds 3,479,022 shares of GPCR. Morgan Stanley owns 2,087,834 shares. The wave of institutional buying in Structure Therapeutics points to growing confidence in the company's drug pipeline.
Orbimed's $79.8 Million Merck Bet Stands Out
The single largest new position Orbimed opened was in Merck & Co. (MRK) — 663,400 shares worth about $79.8 million, according to The Stock Observer. That dwarfs most of the firm's other Q1 moves. Institutions collectively own about 76.07% of Merck's outstanding shares.
Several other advisory firms also added to their Merck positions during the period. Intelligence Driven Advisers LLC, Gateway Wealth Partners LLC, Wealth Watch Advisors INC, Blue Chip Partners LLC, and Cypress Capital Group all boosted their MRK holdings, per The Stock Observer. Merck remains one of the most widely held large-cap pharma stocks among institutions.
ALX Oncology and Corbus Round Out Orbimed's Q1 Moves
Orbimed opened a new 2,866,256-share stake in ALX Oncology Holdings (ALXO), worth about $5.75 million, per Zolmax. About 97.97% of ALXO is held by institutions — a sign of strong professional interest. Renaissance Technologies LLC also grew its ALXO stake by 73.2% to 732,599 shares. Acadian Asset Management LLC holds 1,296,331 shares, and Two Sigma Investments LP owns 606,671 shares.
In Corbus Pharmaceuticals (CRBP), Orbimed lifted its stake by 8.8% to 1,737,287 shares, worth around $16.3 million. Barclays PLC made a dramatic move, spiking its CRBP position by 280% to 14,758 shares — though that stake is worth only about $120,000. Hudson Bay Capital Management LP also opened a new CRBP position worth roughly $139,000 in Q4, per Zolmax.
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