US Biotech Stocks: Major Healthcare Fund Sells Nearly 20% Stake

RA Capital Management sold roughly 1.4 million shares of Vor Biopharma Inc. (NASDAQ: VOR) in the open market in early April, generating proceeds of approximately $25 million (around KRW 30 billion). Although the fund’s indirect holdings declined somewhat, RA Capital disclosed that its beneficial ownership—including derivatives—remains at about 12.4 million shares, representing roughly 19.9% of Vor’s outstanding stock, thereby preserving its status as a major shareholder. In its filing, RA Capital characterized the transactions as part of a broader portfolio rebalancing and did not signal any activist intentions.

Separately, between April 13 and 15, RA Capital sold an additional 740,000 Vor common shares on the market, recouping about $11.8 million (approximately KRW 15 billion). This continued reduction by a top shareholder comes as Vor Biopharma pursues a roughly $150 million (KRW 200 billion) private placement targeted at healthcare-focused investors to secure financing for clinical development, including the global Phase 3 program for its autoimmune candidate telitacicept.

Vor Biopharma, headquartered in Massachusetts, is a clinical‐stage biotech that has shifted its strategic emphasis from a blood‐cancer cell and gene therapy platform to the development of telitacicept for autoimmune diseases. Telitacicept is a fusion protein that simultaneously inhibits BAFF and APRIL. After achieving meaningful Phase 3 results in China for myasthenia gravis and Sjögren’s syndrome, the company is advancing U.S. and global follow‐on trials. Vor Biopharma is listed on the Nasdaq.