Sarissa Capital Management LP Q3 2022 vs. Q4 2022 13F Holdings Comparison: Winners and Losers in the Pharma and Biotech Sectors

Sarissa Capital Management LP, founded by Alex Denner in 2012, is a healthcare-focused investment firm. It manages assets worth more than $1 billion and has been known for activism in the industry. The company's strategy is to buy stakes in companies and push for strategic changes to achieve better returns for shareholders. The fund recently filed its 13F with the SEC, disclosing its holdings as of Q3 2022 and Q4 2022.

The 13F shows the changes in the fund's portfolio between Q3 2022 and Q4 2022. The data reveals several interesting trends in the pharma and biotech sectors. In this article, we will take a closer look at some of the winners and losers in Sarissa Capital's Q3-Q4 comparison.

The Winners

Ironwood Pharmaceuticals Inc. (IRWD):

Sarissa Capital's holdings in Ironwood Pharmaceuticals remained unchanged between Q3 and Q4 at 16,390,000 shares. However, the value of the shares increased by 19.6%, from $169,800 in Q3 to $203,072 in Q4. Ironwood Pharmaceuticals is a commercial biotechnology company that focuses on developing drugs for gastrointestinal disorders. Its flagship product, Linzess, generated $893.7 million in 2021.

Gilead Sciences Inc. (GILD):

Sarissa Capital's holdings in Gilead Sciences decreased from 1,273,100 shares in Q3 to 1,068,750 shares in Q4. However, the value of the shares increased by 16.8%, from $78,538 in Q3 to $91,752 in Q4. Gilead Sciences develops and commercializes therapeutics for HIV/AIDS, viral hepatitis, and inflammatory and respiratory diseases.

Vor Biopharma Inc. (VOR):

The fund's holdings in Vor Biopharma increased by 67.1%, from 618,000 shares in Q3 to 1,032,130 shares in Q4. The value of the shares also increased significantly, from $2,460 in Q3 to $4,109 in Q4. Vor Biopharma is a clinical-stage biotech company that develops gene-edited stem cell therapies for blood diseases.

The Losers

Amarin Corp PLC (AMRN):

The fund's holdings in Amarin Corp PLC decreased by 79.8%, from 23,998,000 shares in Q3 to 4,807,000 shares in Q4. The value of the shares also decreased by 77.8%, from $26,158 in Q3 to $5,816 in Q4. Amarin Corp PLC develops and commercializes drugs for cardiovascular diseases.

BioCryst Pharmaceuticals Inc. (BCRX):

Sarissa Capital's holdings in BioCryst Pharmaceuticals decreased by 35.8%, from 1,390,790 shares in Q3 to 980,288 shares in Q4. The value of the shares also decreased by 35.8%, from $17,524 in Q3 to $11,253 in Q4. BioCryst Pharmaceuticals develops small-molecule drugs for rare diseases.

Mersana Therapeutics Inc. (MRSN):

The fund's holdings in Mersana Therapeutics remained unchanged at 3,997,010 shares between Q3 and Q4. However, the value of the shares decreased by 13.3%, from $27,020 in Q3 to $23,422 in Q4. Mersana Therapeutics is a clinical-stage biopharmaceutical company that develops antibody-drug conjugates for cancer treatment.

Conclusion

The 13F filing by Sarissa Capital Management LP reveals the fund's recent activity in the pharma and biotech sectors. The data shows that the fund has made some significant changes to its portfolio between Q3 and Q4 2022. The winners include Ironwood Pharmaceuticals, Gilead Sciences, and Vor Biopharma, while the losers include Amarin Corp PLC, BioCryst Pharmaceuticals, and Mersana Therapeutics. These changes reflect Sarissa Capital's strategy of identifying undervalued companies and pushing for changes to unlock their value.