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Ghost Tree Capital Portfolio holdings

AUM $331M Turnover 44%
1-Year Est. Return 70.11%
This Fund
S&P 500
This Quarter Est. Return
+14.65%
1 Year Est. Return
+70.11%
3 Year Est. Return
+265.05%
5 Year Est. Return
+3,034.98%
10 Year Est. Return
+22,104.75%
AUM
$331M
AUM Growth
+$11.7M
Cap. Flow
-$38.1M
Cap. Flow %
-11.51%
Top 10 Hldgs %
42.42%
Holding
75
New
12
Increased
16
Reduced
23
Closed
21
Avg Time Held Equity + Options
0.7 years
Top 10 Avg Time Held Equity + Options
0.2 years
Top 20 Avg Time Held Equity + Options
0.4 years
Avg Time Held Equity only
0.8 years
Top 10 Avg Time Held Equity only
0.2 years
Top 20 Avg Time Held Equity only
0.8 years

Top Buys

Rank Stock Value
1
NVO icon
Novo Nordisk
NVO
+$14.7M
2
BPMC icon
Blueprint Medicines
BPMC
+$9.9M
3
SRPT icon
Sarepta Therapeutics
SRPT
+$8.99M
4
JANX icon
Janux Therapeutics
JANX
+$6.09M
5
DYN icon
Dyne Therapeutics
DYN
+$3.98M

Top Sells

Rank Stock Value
1
BHVN icon
Biohaven
BHVN
+$19.1M
2
VRDN icon
Viridian Therapeutics
VRDN
+$8.38M
3
MLTX icon
MoonLake Immunotherapeutics
MLTX
+$8.04M
4
SLNO icon
Soleno Therapeutics
SLNO
+$7.18M
5
PCVX icon
Vaxcyte
PCVX
+$6.31M

Sector Composition

Rank Sector Weight
1 Healthcare 83.31%
2 Miscellaneous 16.69%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
XBI icon
1
PUT
State Street SPDR S&P Biotech ETF
XBI
$10.2B
$29.6M 8.95%
+300,000
New +$29.5M
2024 Q3
0 quarters
BHVN icon
2
CALL
Biohaven
BHVN
$1.7B
$17.4M 5.26%
+348,778
New +$13.6M
2024 Q3
0 quarters
SRPT icon
3
Sarepta Therapeutics
SRPT
$1.87B
$15M 4.53%
120,000
+65,000
+118% +$8.99M
2021 Q4
11 quarters
NVO icon
4
Novo Nordisk
NVO
$170B
$13.1M 3.96%
+110,000
New +$14.7M
2024 Q3
0 quarters
BPMC icon
5
DELISTED
Blueprint Medicines
BPMC
$13M 3.91%
140,000
+100,000
+250% +$9.9M
2024 Q1
2 quarters
AXSM icon
6
Axsome Therapeutics
AXSM
$8.13B
$12.1M 3.66%
135,000
-15,000
-10% -$1.31M
2022 Q1
10 quarters
TARS icon
7
Tarsus Pharmaceuticals
TARS
$3.28B
$11.5M 3.48%
350,000
+115,000
+49% +$3.23M
2021 Q2
13 quarters
CATX icon
8
Perspective Therapeutics
CATX
$245M
$10M 3.02%
750,000
-175,000
-19% -$2.33M
2023 Q4
3 quarters
CGON icon
9
CG Oncology
CGON
$5.28B
$9.43M 2.85%
250,000
-10,000
-4% -$351K
2024 Q1
2 quarters
ROIV icon
10
Roivant Sciences
ROIV
$25.1B
$9.23M 2.79%
800,000
-200,000
-20% -$2.28M
2023 Q2
5 quarters
PCVX icon
11
Vaxcyte
PCVX
$10.3B
$9.14M 2.76%
80,000
-70,000
-47% -$6.31M
2021 Q2
13 quarters
VKTX icon
12
Viking Therapeutics
VKTX
$3.2B
$8.86M 2.68%
140,000
+45,000
+47% +$2.64M
2024 Q1
2 quarters
SNDX icon
13
Syndax Pharmaceuticals
SNDX
$1.17B
$8.66M 2.62%
450,000
+100,000
+29% +$2.07M
2024 Q1
2 quarters
JANX icon
14
Janux Therapeutics
JANX
$1.02B
$8.63M 2.61%
190,000
+140,000
+280% +$6.09M
2024 Q2
1 quarter
ASND icon
15
Ascendis Pharma A/S
ASND
$15.2B
$7.84M 2.37%
52,500
-34,221
-39% -$4.62M
2024 Q2
1 quarter
CRNX icon
16
DELISTED
Crinetics Pharmaceuticals
CRNX
$7.66M 2.32%
150,000
-90,000
-38% -$4.64M
2023 Q3
4 quarters
SLNO icon
17
DELISTED
Soleno Therapeutics
SLNO
$7.57M 2.29%
150,000
-150,000
-50% -$7.18M
2023 Q4
3 quarters
TGTX icon
18
TG Therapeutics
TGTX
$8.15B
$7.25M 2.19%
310,000
-190,000
-38% -$4.15M
2023 Q1
6 quarters
RZLT icon
19
Rezolute
RZLT
$348M
$7.15M 2.16%
1,474,995
+53,494
+4% +$246K
2024 Q2
1 quarter
PHAT icon
20
Phathom Pharmaceuticals
PHAT
$561M
$6.78M 2.05%
375,000
-225,000
-38% -$3.14M
2023 Q2
5 quarters
MLTX icon
21
MoonLake Immunotherapeutics
MLTX
$814M
$6.47M 1.96%
128,411
-171,589
-57% -$8.04M
2023 Q1
6 quarters
OLMA icon
22
Olema Pharmaceuticals
OLMA
$620M
$6.39M 1.93%
535,000
-15,000
-3% -$192K
2024 Q1
2 quarters
IMVT icon
23
Immunovant
IMVT
$5.69B
$6.13M 1.85%
215,000
-45,000
-17% -$1.33M
2024 Q1
2 quarters
INSM icon
24
Insmed
INSM
$20.9B
$5.48M 1.65%
75,000
+10,000
+15% +$738K
2024 Q1
2 quarters
EWTX icon
25
Edgewise Therapeutics
EWTX
$4.11B
$5.2M 1.57%
+195,000
New +$3.88M
2024 Q3
0 quarters
1
2 3

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Ghost Tree Capital's Q3 2024 Portfolio in Review

As of Q3 2024, Ghost Tree Capital held 75 positions worth $331M, up 3.7% from $319M the previous quarter. Its ten largest holdings account for 42% of the portfolio.

Ghost Tree Capital withdrew a net $38.1M in Q3 2024, closing 21 positions and reducing 23 holdings. Its most notable exit was Biohaven, an estimated $19.1M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 83% of assets, down from 90% a quarter earlier, followed by Miscellaneous.

Against the trend, Ghost Tree Capital opened a new position in Novo Nordisk worth $13.1M.

  • Ghost Tree Capital's largest Q3 2024 buy was Novo Nordisk: 110,000 shares worth $13.1M.
  • Ghost Tree Capital added most to Blueprint Medicines in Q3 2024, an estimated $9.9M increase.
  • Ghost Tree Capital's biggest Q3 2024 reduction was Viridian Therapeutics, cutting an estimated $8.38M.
  • Ghost Tree Capital fully exited Biohaven in Q3 2024, selling an estimated $19.1M.
  • Ghost Tree Capital's ten largest holdings make up 42% of its $331M portfolio in Q3 2024.
  • Ghost Tree Capital opened 12 new positions and closed 21 in Q3 2024.
  • Ghost Tree Capital's portfolio value rose 3.7% quarter-over-quarter to $331M.

Based on Ghost Tree Capital's 13F filing for Q3 2024, filed 14 Nov 2024.