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GTC

Ghost Tree Capital Portfolio holdings

AUM $331M
1-Year Est. Return 70.11%
This Fund
S&P 500
This Quarter Est. Return
+50.06%
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
$383M
AUM Growth
+$107M
Cap. Flow
+$27.1M
Cap. Flow %
7.08%
Top 10 Hldgs %
52.27%
Holding
53
New
13
Increased
10
Reduced
8
Closed
14

Top Buys

Rank Stock Value
1
ASND icon
Ascendis Pharma A/S
ASND
+$22.8M
2
ACAD icon
Acadia Pharmaceuticals
ACAD
+$18.1M
3
BPMC
Blueprint Medicines
BPMC
+$17.7M
4
SAGE
Sage Therapeutics
SAGE
+$10.4M
5
GBT
Global Blood Therapeutics, Inc.
GBT
+$9.83M

Top Sells

Rank Stock Value
1
MRTX
Mirati Therapeutics, Inc. Common Stock
MRTX
+$17M
2
DRNA
Dicerna Pharmaceuticals, Inc.
DRNA
+$13.4M
3
BHVN
Biohaven Pharmaceutical Holding Company Ltd.
BHVN
+$11.9M
4
SRPT icon
Sarepta Therapeutics
SRPT
+$7.64M
5
OBSV
ObsEva SA Ordinary Shares
OBSV
+$4.52M

Sector Composition

Rank Sector Weight
1 Healthcare 84.25%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CHRS icon
26
Coherus Oncology
CHRS
$216M
$6.14M 1.6%
+450,000
New +$6M
TCDA
27
DELISTED
Tricida, Inc. Common Stock
TCDA
$5.79M 1.51%
150,000
-100,000
-40% -$2.33M
KDMN
28
DELISTED
Kadmon Holdings, Inc.
KDMN
$5.54M 1.45%
2,100,000
+100,000
+5% +$252K
VRAY
29
DELISTED
ViewRay, Inc.
VRAY
$5.54M 1.45%
750,000
– –
ORTX
30
DELISTED
Orchard Therapeutics plc American Depositary Shares
ORTX
$5.36M 1.4%
30,000
– –
AXSM icon
31
Axsome Therapeutics
AXSM
$11.8B
$4.41M 1.15%
+310,000
New +$2.88M
BCRX icon
32
BioCryst Pharmaceuticals
BCRX
$2.36B
$4.07M 1.06%
500,000
– –
CHMA
33
DELISTED
Chiasma, Inc. Common Stock
CHMA
$3.64M 0.95%
+700,000
New +$3.08M
ARVN icon
34
Arvinas
ARVN
$517M
$2.58M 0.67%
175,000
– –
OBSV
35
DELISTED
ObsEva SA Ordinary Shares
OBSV
$2.56M 0.67%
200,000
-350,000
-64% -$4.52M
GNCA
36
DELISTED
Genocea Biosciences, Inc.
GNCA
$1.18M 0.31%
250,000
-190,625
-43% -$943K
SLDB icon
37
Solid Biosciences
SLDB
$858M
$920K 0.24%
+6,667
New +$1.67M
GYRE icon
38
Gyre Therapeutics
GYRE
$675M
$811K 0.21%
13,333
-13,334
-50% -$857K
KYNB
39
Kyntra Bio
KYNB
$29.3M
$625K 0.16%
+460
New +$624K
LRMR icon
40
Larimar Therapeutics
LRMR
$384M
– –
-62,500
Closed -$3.71M
MDGL icon
41
Madrigal Pharmaceuticals
MDGL
$12.8B
– –
-900
Closed -$101K
SAGE
42
CALL
DELISTED
Sage Therapeutics
SAGE
– –
-30,000
Closed -$2.87M
SRPT icon
43
Sarepta Therapeutics
SRPT
$1.82B
– –
-70,000
Closed -$7.64M
XBI icon
44
CALL
State Street SPDR S&P Biotech ETF
XBI
$10.4B
– –
-750,000
Closed -$53.8M
ITCI
45
CALL
DELISTED
Intra-Cellular Therapies Inc.
ITCI
– –
-79,400
Closed -$904K
KA
46
DELISTED
Kineta, Inc. Common Stock
KA
– –
-1,357
Closed -$616K
MOTS
47
DELISTED
Motus GI Holdings, Inc. Common Stock
MOTS
– –
-333
Closed -$311K
GBT
48
PUT
DELISTED
Global Blood Therapeutics, Inc.
GBT
– –
-85,000
Closed -$3.49M
DRNA
49
DELISTED
Dicerna Pharmaceuticals, Inc.
DRNA
– –
-1,250,000
Closed -$13.4M
UROV
50
DELISTED
Urovant Sciences Ltd.
UROV
– –
-300,000
Closed -$1.98M
1
2
3

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Ghost Tree Capital's Q1 2019 Portfolio in Review

As of Q1 2019, Ghost Tree Capital held 53 positions worth $383M, up 39% from $276M the previous quarter. Its ten largest holdings account for 52% of the portfolio.

Ghost Tree Capital deployed $27.1M of net new capital in Q1 2019, opening 13 new positions and adding to 10 existing holdings. Its largest new stake was Blueprint Medicines: 240,000 shares worth $19.2M.

By sector, the portfolio is most concentrated in Healthcare at 84% of assets, up from 61% a quarter earlier.

On the sell side, the largest reduction was Mirati Therapeutics, Inc. Common Stock, an estimated $17M trimmed.

  • Ghost Tree Capital's largest Q1 2019 buy was Blueprint Medicines: 240,000 shares worth $19.2M.
  • Ghost Tree Capital added most to Ascendis Pharma A/S in Q1 2019, an estimated $22.8M increase.
  • Ghost Tree Capital's biggest Q1 2019 reduction was Mirati Therapeutics, Inc. Common Stock, cutting an estimated $17M.
  • Ghost Tree Capital fully exited Dicerna Pharmaceuticals, Inc. in Q1 2019, selling an estimated $13.4M.
  • Ghost Tree Capital's ten largest holdings make up 52% of its $383M portfolio in Q1 2019.
  • Ghost Tree Capital opened 13 new positions and closed 14 in Q1 2019.
  • Ghost Tree Capital's portfolio value rose 39% quarter-over-quarter to $383M.

Based on Ghost Tree Capital's 13F filing for Q1 2019, filed 15 May 2019.