Orbimed Advisors has filed 77 Form 4 transactions across 15 companies, with a clear buy-side bias. The firm's open-market purchases total $148.9 million, against $119.2 million in open-market sales. That gap, roughly $29.8 million, is the net cash deployed through discretionary trades. The firm also acquired $5.1 million in shares through other means, mostly option exercises and conversions, which are mechanical and carry no conviction signal.
The recent pattern is unambiguous. Orbimed's last eight open-market transactions were all purchases, with zero sales. On September 28, 2026, the firm bought $9,999,995 and $1,045,772 in ADRX, plus $5,104,233 more in the same ticker. On September 21, it put $15,000,000 and $4,999,995 into ETRA. August 10 brought a $10,000,000 purchase in BLSM, and August 7 saw $4,919,994 and $30,000,006 into BRVE. The largest single buy in that window was the $30 million BRVE position.
The sell side is quieter. The $119.2 million in sales is spread across the broader filing history, and none of it appears in the most recent batch. The firm has also recorded conversions in ADRX, ETRA, BLSM, BRVE, and SCTX, all at zero dollar value. Those are derivative conversions, not decisions to add or reduce exposure. The data shows Orbimed deploying fresh capital into five healthcare names over roughly two months, with no corresponding open-market sales in that period.
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