Perceptive Advisors 13F Reveals New Stakes in BioPharma, Tech
2h ago|4 min readStandard
Fazen Markets Editorial Desk
Collective editorial team · methodology
13f-filinghedge-fund
Fazen Markets Editorial Desk
Collective editorial team · methodology
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Perceptive Advisors LLC disclosed its quarterly portfolio holdings in a Form 13F filing dated May 29, 2026. The filing reveals the firm established new equity positions in BioMarin Pharmaceutical Inc. and Palantir Technologies Inc. during the first quarter. Perceptive also significantly increased its existing stake in CRISPR Therapeutics AG by approximately 35%. The total value of the firm's public equity portfolio under management was reported at approximately $7.2 billion, a slight increase from the prior quarter. The new allocations signal a continued strategic focus on the biotechnology and technology sectors.
Institutional 13F filings provide a quarterly snapshot of hedge fund positioning, offering insights into where sophisticated capital is being deployed. Perceptive Advisors, founded by Joseph Edelman, has a long-established track record of concentrating investments in high-conviction life sciences and technology companies. The current macroeconomic backdrop features a stabilizing interest rate environment, with the Federal Reserve holding its benchmark rate steady after a prolonged hiking cycle. This stability is often viewed as supportive for growth-oriented sectors like biotechnology, which rely on long-term capital for research and development.
The timing of these investments coincides with a period of renewed merger and acquisition activity within the biopharmaceutical industry. Large-cap pharmaceutical companies are seeking to replenish drug pipelines, making innovative biotech firms attractive targets. Perceptive's increased stake in gene-editing pioneer CRISPR Therapeutics aligns with this trend, as the company advances late-stage clinical programs. The new position in Palantir reflects a broader institutional pivot toward companies leveraging artificial intelligence for commercial and government applications, a sector receiving increased investor attention in early 2026.
The filing details several significant changes to Perceptive Advisors' portfolio. The firm initiated a new position in BioMarin Pharmaceutical Inc., acquiring 1.2 million shares valued at roughly $115 million. A new stake in Palantir Technologies Inc. amounted to 2.5 million shares, with a reported value of approximately $60 million. The most substantial adjustment was a 35% increase in the holding of CRISPR Therapeutics AG, bringing the total position to 4.8 million shares worth about $290 million.
For context, the iShares Biotechnology ETF is up 6% year-to-date, slightly underperforming the S&P 500's 8% gain. Perceptive's top five holdings now constitute over 40% of its portfolio value, indicating a highly concentrated strategy. The table below illustrates the key changes in allocation.
| Ticker | Q4 2025 Shares | Q1 2026 Shares | % Change | Approx. Value (Q1 2026) |
|---|---|---|---|---|
| BMRN | 0 | 1,200,000 | New | $115M |
| PLTR | 0 | 2,500,000 | New | $60M |
| CRSP | 3,550,000 | 4,800,000 | +35% | $290M |
The new investments suggest Perceptive is doubling down on its core competency in identifying value in the biopharma sector while expanding its reach into applied data analytics. The stake in BioMarin represents a bet on the commercial success of its rare disease franchise and its strong pipeline. The Palantir investment indicates a belief that the demand for AI-driven data platforms will continue to accelerate across both public and private sectors. These moves may prompt other institutional investors to re-evaluate their exposure to these specific names and sectors.
A key risk to this strategy is the binary nature of clinical trial outcomes for companies like CRISPR Therapeutics. A negative data readout from a pivotal trial could erase significant value despite a promising technology platform. Palantir's valuation multiples remain elevated compared to the broader software sector, making it susceptible to a correction if growth expectations are not met. Recent options market flow shows increased call buying in both CRSP and BMRN, suggesting a segment of the market is positioning for near-term upside following the 13F disclosure.
Market participants will monitor the upcoming PDUFA date for CRISPR Therapeutics' exa-cel gene therapy, set for August 15, 2026. Regulatory approval would be a significant catalyst for the stock and the entire gene-edting sector. BioMarin's second-quarter earnings report, scheduled for July 30, will provide an update on sales growth for its key products. For Palantir, the next major event is its Artificial Intelligence Platform conference on June 12, where new contract announcements are anticipated.
Technical levels for CRSP suggest major support resides at the $55 price level, which coincides with its 200-day moving average. A break above resistance at $68 could signal a new upward trend. For the iShares Biotechnology ETF, the $140 level has acted as both support and resistance throughout 2026 and remains a key zone to watch for sector-wide momentum. The Federal Open Market Committee meeting on June 18 will be critical for gauging the interest rate trajectory for the remainder of the year, a primary driver for growth stock valuations.
A Form 13F is a quarterly report required to be filed with the U.S. Securities and Exchange Commission by all institutional investment managers with at least $100 million in assets under management. It discloses their equity holdings, providing the public with a view into the investment strategies of large funds like Perceptive Advisors. The filings are due 45 days after the end of each quarter, meaning the Q1 2026 filing reflects positions held as of March 31, 2026.
Perceptive Advisors employs a concentrated, high-conviction strategy heavily focused on the life sciences sector. Unlike diversified funds that spread capital across hundreds of holdings, Perceptive typically maintains a portfolio of 30-50 stocks, with top positions representing a significant percentage of total assets. This approach relies on deep fundamental research, often involving analysis of clinical trial data and drug pipelines, to make large bets on a select group of companies.
The 45-day reporting lag is mandated by the SEC to balance transparency with the need for fund managers to establish or exit positions without immediate public scrutiny that could front-run their trades. This delay means the disclosed holdings are historical and may have already been adjusted by the fund by the time the public sees the filing. Investors use the data to identify trends rather than for real-time trading signals.
Perceptive Advisors' latest bets reinforce a strategic focus on innovative biotech and data-centric tech companies.
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