US Biotech Stocks: RA Capital Sells Hundreds of Millions in April

Healthcare-focused fund RA Capital Management disclosed that it sold approximately 1.5 million shares of Vor Biopharma Inc. (VOR) in open-market transactions on April 2, April 6 and April 8–10.

The shares were sold at a weighted average price ranging from the high $15s to the $19s. Although this reduced some of the fund’s indirect holdings, RA Capital’s total economic stake—including common stock, warrants and options—remains about 12.4 million shares, or 19.9% of Vor Biopharma’s outstanding shares.

In its filing, RA Capital stated that each reporting person disclaims beneficial ownership of any shares beyond the scope of its economic interest. Proceeds from the sale are estimated in the tens of millions of dollars, roughly KRW 30–40 billion.

Subsequent filings indicate that RA Capital sold several hundred thousand additional Vor Biopharma shares in the open market between April 13–15 and April 17–20, significantly increasing its cumulative April sell-off.

Meanwhile, at the end of March, Vor Biopharma provided a corporate update alongside its fourth-quarter and full-year 2025 financial results. The company announced progress on the global Phase III trial of telitacicept, its lead autoimmune therapy candidate, and detailed new stock option and RSU grants to attract talent.

Based in Cambridge, Massachusetts, Vor Biopharma is a clinical-stage biotech developing treatments for autoimmune diseases, including the dual-target fusion protein telitacicept, which simultaneously inhibits BAFF and APRIL.

RA Capital Management is a U.S. asset manager specializing in healthcare and biotech. It is one of Vor Biopharma’s major shareholders, and partner Andrew Levin serves on the company’s board, overseeing strategy and clinical development.