Why This Biotech Fund Opened a $9 Million Position in a Newly Public Cancer Company
Key Points
Avidity Partners initiated a new stake in Aktis Oncology, adding 468,566 shares in the first quarter; the estimated trade size was $9.10 million (based on quarterly average pricing).
The quarter-end position value increased by $8.79 million, reflecting both share purchases and price movement.
The transaction represented a 2.06% change in 13F reportable AUM.
Post-trade, Avidity Partners held 468,566 AKTS shares valued at $8.79 million.
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On May 13, 2026, Avidity Partners Management disclosed a new position in Aktis Oncology (NASDAQ:AKTS), acquiring 468,566 shares in the first quarter. The estimated transaction value was $9.10 million based on quarterly average pricing.
What happened
According to a SEC filing dated May 13, 2026, Avidity Partners Management established a new position in Aktis Oncology by purchasing 468,566 shares. The estimated transaction value was $9.10 million, calculated using the average closing price between January 1 and March 31, 2026. The quarter-end value of this stake was $8.79 million, reflecting both the share addition and stock price movement over the period.
What else to know
- This was a new position for the fund, representing 1.99% of 13F reportable AUM as of quarter-end.
- Top five holdings after the filing:
- NASDAQ: DNTH: $184.75 million (41.8% of AUM)
- NASDAQ: ORKA: $52.02 million (11.8% of AUM)
- NASDAQ: JBIO: $34.18 million (7.7% of AUM)
- NYSEMKT: CATX: $23.59 million (5.3% of AUM)
- NASDAQ: ELVN: $16.49 million (3.7% of AUM)
- As of May 12, 2026, shares of Aktis Oncology were priced at $19.73, down about 27% from post-IPO highs in January but still above the IPO price of $18.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close May 13, 2026) | $19.73 |
| Market Cap | $1 billion |
| Revenue (TTM) | $6.50 million |
| Net Income (TTM) | ($63.73 million) |
Company snapshot
- Aktis Oncology develops targeted radiopharmaceutical therapies for cancer, including lead candidates such as AKY-1189 for Nectin-4 expressing tumors and AKY-2519 for B7-H3 CD276 expressing tumors.
- The firm operates a clinical-stage business model focused on discovering and advancing proprietary radioconjugate platforms.
- It targets oncology specialists, pharmaceutical partners, and healthcare providers treating patients with advanced solid tumors.
Aktis Oncology, Inc. is a clinical-stage biotechnology company specializing in the development of targeted radiopharmaceutical therapies for cancer. Leveraging a proprietary miniprotein radioconjugate platform, the company aims to deliver radioisotopes selectively to tumor cells, addressing significant unmet needs in oncology.
With a focus on innovative therapies for solid tumors such as urothelial, breast, and prostate cancers, Aktis Oncology positions itself at the forefront of radiopharmaceutical innovation, seeking to advance differentiated treatments through its pipeline and strategic collaborations.
What this transaction means for investors
By stepping in during the same quarter as its IPO, Avidity appears to believe Aktis could become one of the next meaningful players despite still being very early in development.
The company has moved surprisingly quickly since its January public-market debut. Aktis recently launched a Phase 1b trial for AKY-2519 in metastatic castration-resistant prostate cancer and plans to start another basket trial later this year targeting lung, colorectal, and other solid tumors. Management also expects preliminary clinical data for both AKY-2519 and its lead program AKY-1189 beginning in 2027.
Importantly, the balance sheet looks strong, with roughly $538.5 million in cash and marketable securities after raising about $365 million in its IPO. Management said that cash runway should fund operations into 2029.
For long-term investors, the opportunity here is tied to whether Aktis’ miniprotein radioconjugate platform can actually improve tumor targeting while reducing toxicity compared to existing radiopharmaceutical approaches.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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