Big Biotech Bets
First Turn Management Expands Biotech Holdings with New Stakes in Viridian, IDEAYA, Olema, Guardant, and Praxis
Anonymous
Key Points
1
For Viridian Therapeutics (VRDN), First Turn said the position is its 19th largest holding and disclosed that Vanguard, after increasing its stake by 29.6% in the quarter, now owns 5,612,144 shares worth about $174.65 million.
2
For IDEAYA Biosciences (IDYA), the filing coverage notes that 98.29% of shares are held by institutional investors and hedge funds, and it details that State Street increased its position by 27.6% (to 4,134,641 shares worth about $142.94 million).
3
Regarding Guardant Health (GH), the coverage provides transaction-level detail on CFO Michael Brian Bell’s sale: he sold 2,000 shares at an average price of $128.62 (total $257,240) and still directly owned 47,509 shares valued at about $6.11 million after the trade (a 4.04% decrease).
4
For Olema Pharmaceuticals (OLMA), the article adds company fundamentals/trading context not in the summary—e.g., a debt-to-equity ratio of 0.01, a current ratio (and quick ratio) of 10.88, and a 1-year stock range of $3.89 to $36.26 (with market cap cited at about $862.14 million).
5
For Praxis Precision Medicines (PRAX), the coverage includes market/trading benchmarks: the stock “opened at $266.58,” and the article cites 50-day moving average price of $319.32 and 200-day moving average price of $300.57.
First Turn Management LLC has taken new stakes in five biotech companies, pouring roughly $100 million into Viridian Therapeutics, IDEAYA Biosciences, Olema Pharmaceuticals, Guardant Health, and Praxis Precision Medicines, according to recent SEC filings WatchlistNews. The moves mark a sharp expansion for the firm, whose year-end 2025 portfolio stood at about $875 million — up 31.4% in a single quarter.
The buys span three distinct therapeutic bets: autoimmune and rare disease, women's oncology, and central nervous system drugs — areas where clinical data readouts are expected later in 2026.
First Turn's Five New Positions, by the Numbers
First Turn's largest new bet is Guardant Health (GH), where it bought 271,685 shares worth about $27.8 million — roughly 3.2% of its total portfolio WatchlistNews. IDEAYA Biosciences (IDYA) came in second: 723,653 shares valued at $25.0 million, or 2.9% of holdings. Viridian Therapeutics (VRDN) rounded out the top three at 690,528 shares worth $21.5 million.
The two smaller positions were Olema Pharmaceuticals (OLMA) — 617,714 shares at $15.4 million — and Praxis Precision Medicines (PRAX) at 35,749 shares worth $10.5 million. First Turn lists Viridian as its 19th largest holding overall Ticker Report.
Big Institutions Pile Into the Same Biotech Names
First Turn is not alone in these bets. In Viridian Therapeutics, Vanguard raised its stake by 29.6% in the quarter and now holds 5,612,144 shares worth about $174.65 million WatchlistNews. In IDEAYA Biosciences, State Street increased its position by 27.6%, bringing its total to 4,134,641 shares valued at roughly $142.94 million. Institutional investors now own 98.29% of IDEAYA's shares.
In Olema, Goldman Sachs and Jane Street also raised their stakes. Wedbush analyst Robert Driscoll added to the bullish sentiment on June 12, reiterating an "Outperform" rating on IDEAYA with a $58 price target. Guggenheim set an $800 price target on Praxis earlier in 2026, calling its clinical platform a "significant vote of confidence."
Guardant Health CFO Sells Shares as Firm Buys In
While First Turn was buying Guardant Health stock, CFO Michael Brian Bell was selling. On June 5, Bell sold 2,000 shares at an average price of $128.62 each — a total of $257,240 — according to a SEC Form 4 filing WatchlistNews. That sale cut his direct holdings by 4.04%. He still owns 47,509 shares worth about $6.11 million.
The insider sale fits a broader pattern at Guardant. Company insiders have sold over 1.2 million shares worth $113 million in the past year. That creates a tension: institutions are buying while management is selling.
Where Each Company Stands on the Market Today
Praxis Precision Medicines opened at $266.58 — well below its 50-day moving average of $319.32 and its 200-day moving average of $300.57. That gap signals recent selling pressure in the stock despite strong analyst targets Ticker Report. Olema Pharmaceuticals has a market cap of about $862.14 million, with its stock trading in a one-year range of $3.89 to $36.26.
Olema also carries almost no debt: its debt-to-equity ratio is just 0.01, and its current ratio is 10.88 — meaning it has nearly 11 dollars in liquid assets for every dollar of short-term debt. On June 8, IDEAYA priced a $300 million public stock offering to fund late-stage clinical trials, signaling a shift from pure research toward commercial preparation.
Sentiment
Mostly PositiveNEGATIVENEUTRALPOSITIVE
Publishers
12
Articles
10
Reach
22
A
AnonymousAuthor
