Opaleye Management Inc.'s Q3 2022 vs. Q4 2022 13F Holdings: A Deep Dive into the Changes

As the year comes to a close, it's time for another update on Opaleye Management Inc.'s 13F holdings. In this comparison of Q3 2022 and Q4 2022, we'll take a closer look at the changes in holdings of some of the fund's top investments. From emerging biotech companies to established pharmaceutical firms, Opaleye's portfolio has seen some significant movements. Let's dive in!

Starting with the top gainers in terms of share percentage, there's a lot to unpack. Harrow Health Inc (HROW) leads the way with a 38.1% increase in shares held, going from 3,343,817 shares to 3,775,000. This movement is reflected in the value increase from $40.4 million to $55.7 million. Following HROW is Tela Bio Inc (TELA) with a 37.4% increase in shares held. This equates to 2,036,551 shares up from 2,072,813. The value also saw an increase, climbing from $17.4 million to $23.8 million.

Next up, we have Rhythm Pharmaceuticals Inc (RYTM) with a 7.9% decrease in shares held. The biopharmaceutical company saw a dip from 810,000 shares to 735,000. However, the value of RYTM's shares increased slightly from $19.8 million to $21.4 million.

Moving on to the biggest losers, there's Ocular Therapeutix Inc (OCUL) with a 36.4% decrease in shares held. The healthcare company saw a drop from 6,465,000 shares to 6,075,000. This resulted in a considerable decrease in value from $26.8 million to $17.1 million. Finally, Codexis Inc (CDXS) experienced a 36.2% decrease in shares held, going from 1,155,000 to 957,500. This translates to a decrease in value from $7.0 million to $4.5 million.

Other notable movements in the fund's holdings include Biohaven Ltd (BHVN) with 540,000 new shares held, valued at $7.5 million. Vaxcyte Inc (PCVX) also saw an 86.1% increase in value, going from $4.6 million to $8.5 million. In contrast, 4D Molecular Therapeutics Inc (FDMT) experienced a 159.9% increase in value, climbing from $2.8 million to $7.3 million.

Overall, Opaleye Management Inc. made some notable changes to its holdings in 2022 Q4. While some investments saw considerable gains, others saw losses in shares held and value. These changes can be indicative of the fund's shifting strategy and priorities, and investors will likely continue to monitor Opaleye's holdings closely in the coming months.