X4 Pharmaceuticals

XFOR • NASDAQ

X4 Pharmaceuticals is a biotechnology company in the healthcare sector on NASDAQ, led by Adam Raymond Craig, with a market cap of $341.9M. As of Q3 2025, 72% of shares are held by 43 institutional investors, with Bain Capital Life Sciences Investors, LLC as the largest holder at 10.85%.

Executive ChairmanAdam Raymond Craig

Market Cap$341.9M

Biotechnology

Healthcare

Employees93.0

Websitex4pharma.com

Country

United States of America

Overview

Overview of institutional ownership in XFOR as of Q3 2025 with a market cap of $76.8M

All Institutions

Institutions: 43
Value Held: $55.3M
Shares Held: 16.2M
Avg Position: $1.3M
Median Position: $65.6K

Hedge Funds

Hedge Funds: 9
Value Held: $17.0M
Shares Held: 5.0M
Avg Position: $1.9M
Median Position: $221.6K

Ownership Breakdown

Institutional (non-HF)

49.89%

$38.3M

Hedge Funds

22.09%

$17.0M

Retail & Other

28.02%

$21.5M

Based on market cap of $76.8M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in XFOR as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
B Bain Capital Life Sciences Investors, LLC Institution	-	$8.3M 0.55% of portfolio	10.85% 2.4M shares	Q4 2019 Held for 5y 11m	$1.5B
NEA Management Company, LLC Venture Capital	Mohamad Hassan Makhzoumi CEO	$7.6M 0.42% of portfolio	9.95% 2.2M shares	Q3 2022 Held for 3y 2m	$1.8B
B BVF INC/IL Institution	-	$7.6M 0.31% of portfolio	9.95% 2.2M shares	Q3 2025 Held for 2 months	$2.5B
N Nantahala Capital Management, LLC Hedge Fund•Multi-Strategy	Daniel J. Mack Managing Partner	$7.6M 0.47% of portfolio	9.93% 2.2M shares	Q3 2025 Held for 2 months	$1.6B
R Rosalind Advisors, Inc. Institution	-	$5.3M 2.00% of portfolio	6.88% 1.5M shares	Q3 2025 Held for 2 months	$263.6M
Deep Track Capital, LP Hedge Fund•Long/Short	David Eric Kroin CIO	$3.8M 0.11% of portfolio	5.00% 1.1M shares	Q3 2025 Held for 2 months	$3.5B
S Stonepine Capital Management, LLC Institution	-	$3.6M 2.94% of portfolio	4.71% 1.1M shares	Q3 2025 Held for 2 months	$123.0M
K KINGDON CAPITAL MANAGEMENT, L.L.C. Hedge Fund•Long/Short	Mark Elliot Kingdon CEO	$3.2M 0.50% of portfolio	4.16% 933.3K shares	Q2 2023 Held for 2y 5m	$638.2M
StemPoint Capital LP Hedge Fund•Long/Short	Sean Chua Tan President	$1.9M 0.38% of portfolio	2.47% 555.4K shares	Q3 2025 Held for 2 months	$495.9M
VANGUARD GROUP INC Institution	Salim Ramji CEO	$1.4M 0.00% of portfolio	1.83% 410.5K shares	Q1 2018 Held for 7y 8m	$6.69T

Net Capital Flow

Institutional buying and selling activity for XFOR in Q3 2025

Traded: +$46.4M
Buyers: 24
Sellers: 29
Total Bought: +$48.0M
Total Sold: −$1.6M
Avg Position: $877.2K

Biggest Buyers

Institution	Net Bought	Current Position
B BVF INC/IL Institution	+$7.6M +2.2M shares	$7.6M 2.2M shares
N Nantahala Capital Management, LLC Hedge Fund•Multi-Strategy	+$7.6M +2.2M shares	$7.6M 2.2M shares
B Bain Capital Life Sciences Investors, LLC Institution	+$6.4M +1.9M shares	$8.3M 2.4M shares
NEA Management Company, LLC Venture Capital	+$5.9M +1.7M shares	$7.6M 2.2M shares
R Rosalind Advisors, Inc. Institution	+$5.3M +1.5M shares	$5.3M 1.5M shares
Deep Track Capital, LP Hedge Fund•Long/Short	+$3.8M +1.1M shares	$3.8M 1.1M shares
S Stonepine Capital Management, LLC Institution	+$3.6M +1.1M shares	$3.6M 1.1M shares
K KINGDON CAPITAL MANAGEMENT, L.L.C. Hedge Fund•Long/Short	+$2.4M +700.0K shares	$3.2M 933.3K shares
StemPoint Capital LP Hedge Fund•Long/Short	+$1.9M +555.4K shares	$1.9M 555.4K shares
BOOTHBAY FUND MANAGEMENT, LLC Fund of Funds	+$1.2M +344.0K shares	$1.2M 344.0K shares

Biggest Sellers

Institution	Net Sold	Current Position
B BlackRock, Inc. Institution	−$401.1K −117.3K shares	$211.8K 61.9K shares
GSA CAPITAL PARTNERS LLP Hedge Fund•Quant	−$252.2K −132.7K shares	Sold Off 0 shares
BANK OF AMERICA CORP /DE/ Institution	−$208.7K −61.0K shares	$66.0K 19.3K shares
J JANE STREET GROUP, LLC Institution	−$185.0K −97.3K shares	Sold Off 0 shares
UBS OCONNOR LLC Long Only Manager	−$152.0K −80.0K shares	Sold Off 0 shares
S Squarepoint Ops LLC Hedge Fund•Quant	−$74.1K −39.0K shares	Sold Off 0 shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	−$66.2K −34.8K shares	Sold Off 0 shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$50.1K −26.4K shares	Sold Off 0 shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$45.4K −13.3K shares	$221.6K 64.8K shares
GOLDMAN SACHS GROUP INC Institution	−$35.8K −18.9K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited XFOR in Q3 2025

New Positions: 6
New Value: $19.0M
Exited Positions: 20
Exited Value: $892.1K

New Positions

Institution	Position Value
N Nantahala Capital Management, LLC Hedge Fund•Multi-Strategy	$7.6M 2.2M shares
R Rosalind Advisors, Inc. Institution	$5.3M 1.5M shares
Deep Track Capital, LP Hedge Fund•Long/Short	$3.8M 1.1M shares
StemPoint Capital LP Hedge Fund•Long/Short	$1.9M 555.4K shares
Palumbo Wealth Management LLC RIA/Wealth	$326.0K 95.3K shares
P Point72 Asia Pte. Ltd. Institution	$10.0K 2.9K shares

Exited Positions

Institution	Previous Position
GSA CAPITAL PARTNERS LLP Hedge Fund•Quant	$252.2K 132.7K shares
J JANE STREET GROUP, LLC Institution	$185.0K 97.3K shares
UBS OCONNOR LLC Long Only Manager	$152.0K 80.0K shares
S Squarepoint Ops LLC Hedge Fund•Quant	$74.1K 39.0K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$66.2K 34.8K shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	$50.1K 26.4K shares
GOLDMAN SACHS GROUP INC Institution	$35.8K 18.9K shares
V Virtu Financial LLC Institution	$23.9K 12.6K shares
Schonfeld Strategic Advisors LLC Hedge Fund•Multi-Strategy	$21.4K 11.3K shares
H HRT FINANCIAL LLC Institution	$20.0K 10.5K shares

Options Activity

Institutions with the largest Call and Put options positions in XFOR as of Q3 2025

Call Positions: 1
Call Value: $437.4K
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$437.4K 1.3K contracts

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

Institutions with XFOR as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
S Stonepine Capital Management, LLC Institution	-	2.94% $3.6M	4.71% 1.1M shares	Q3 2025 Held for 2 months	$123.0M
R Rosalind Advisors, Inc. Institution	-	2.00% $5.3M	6.88% 1.5M shares	Q3 2025 Held for 2 months	$263.6M
B Bain Capital Life Sciences Investors, LLC Institution	-	0.55% $8.3M	10.85% 2.4M shares	Q4 2019 Held for 5y 11m	$1.5B
K KINGDON CAPITAL MANAGEMENT, L.L.C. Hedge Fund•Long/Short	Mark Elliot Kingdon CEO	0.50% $3.2M	4.16% 933.3K shares	Q2 2023 Held for 2y 5m	$638.2M
A ACORN CAPITAL ADVISORS, LLC Venture Capital	Anthony Michael Gallo CCO	0.47% $934.9K	1.22% 273.3K shares	Q4 2024 Held for 11 months	$197.0M
N Nantahala Capital Management, LLC Hedge Fund•Multi-Strategy	Daniel J. Mack Managing Partner	0.47% $7.6M	9.93% 2.2M shares	Q3 2025 Held for 2 months	$1.6B
NEA Management Company, LLC Venture Capital	Mohamad Hassan Makhzoumi CEO	0.42% $7.6M	9.95% 2.2M shares	Q3 2022 Held for 3y 2m	$1.8B
StemPoint Capital LP Hedge Fund•Long/Short	Sean Chua Tan President	0.38% $1.9M	2.47% 555.4K shares	Q3 2025 Held for 2 months	$495.9M
B BVF INC/IL Institution	-	0.31% $7.6M	9.95% 2.2M shares	Q3 2025 Held for 2 months	$2.5B
Deep Track Capital, LP Hedge Fund•Long/Short	David Eric Kroin CIO	0.11% $3.8M	5.00% 1.1M shares	Q3 2025 Held for 2 months	$3.5B