US Healthcare Large Fund Sells Hundreds of Billions in Bio Stocks

US healthcare specialist asset manager RA Capital Management trimmed part of its indirect stake in Vor Biopharma Inc. (VOR) by selling approximately 1.48 million common shares on the open market on April 2 and 6, and again from April 8 to 10. The transactions were executed in the mid-to-high $15 per share range, bringing the total sales to an estimated tens of millions of dollars, or several hundred billion Korean won. Following these sales, RA Capital remains a major shareholder, holding approximately 19.9% of the company’s outstanding shares on a fully diluted basis, including derivatives, and disclosed that there is no change to its investment objectives nor any new activist plans.

At the end of March, the company secured financing through a private placement, issuing common stock worth roughly $75 million at $14.05 per share—about 100 billion KRW. In its fourth-quarter and full-year 2025 results released on March 30, the company reported cash and investment assets totaling approximately $530 million (mid-700 billion KRW), including proceeds from the private placement, and provided an update on the initiation of the global Phase 3 trial for its autoimmune disease therapy, Teltacept (tipranks.com).

Vor Biopharma is a US biotech company developing clinical-stage treatments for autoimmune diseases such as myasthenia gravis and Sjögren’s syndrome, centered on Teltacept, a recombinant fusion protein that simultaneously inhibits BAFF and APRIL (globenewswire.com). RA Capital Management is a US hedge fund specializing in bio and healthcare companies, a key financial investor in the company’s past large private placements, with one of its partners serving on Vor Biopharma’s board.