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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
+15.52%
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
$482M
AUM Growth
+$99.4M
Cap. Flow
+$75.7M
Cap. Flow %
15.7%
Top 10 Hldgs %
61.57%
Holding
55
New
16
Increased
8
Reduced
12
Closed
12

Top Buys

1
SRPT icon
Sarepta Therapeutics
SRPT
+$35.2M
2
MRTX
Mirati Therapeutics, Inc. Common Stock
MRTX
+$14.4M
3
ARGX icon
argenx
ARGX
+$12.7M
4
BCRX icon
BioCryst Pharmaceuticals
BCRX
+$12M
5
BPMC
Blueprint Medicines
BPMC
+$11.1M

Top Sells

1
ASND icon
Ascendis Pharma A/S
ASND
+$19.1M
2
IOVA icon
Iovance Biotherapeutics
IOVA
+$15.1M
3
VRTX icon
Vertex Pharmaceuticals
VRTX
+$14.7M
4
TVTX icon
Travere Therapeutics
TVTX
+$11.3M
5
ANAB icon
AnaptysBio
ANAB
+$8.4M

Sector Composition

1 Healthcare 72.77%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EPZM
26
DELISTED
Epizyme, Inc
EPZM
$5.84M 1.21%
465,000
-35,000
-7% -$450K
SAGE
27
DELISTED
Sage Therapeutics
SAGE
$5.49M 1.14%
30,000
-45,000
-60% -$7.68M
ONCE
28
DELISTED
Spark Therapeutics, Inc. Common Stock
ONCE
$5.12M 1.06%
+50,000
New +$5.4M
ARVN icon
29
Arvinas
ARVN
$517M
$4.95M 1.03%
225,000
+50,000
+29% +$1.05M
BHVN
30
DELISTED
Biohaven Pharmaceutical Holding Company Ltd.
BHVN
$4.38M 0.91%
+100,000
New +$5.64M
KDMN
31
DELISTED
Kadmon Holdings, Inc.
KDMN
$4.33M 0.9%
2,100,000
– –
CHRS icon
32
Coherus Oncology
CHRS
$216M
$3.87M 0.8%
175,000
-275,000
-61% -$4.78M
DRNA
33
DELISTED
Dicerna Pharmaceuticals, Inc.
DRNA
$3.7M 0.77%
+235,000
New +$3.2M
IOVA icon
34
Iovance Biotherapeutics
IOVA
$2.23B
$3.68M 0.76%
150,000
-1,000,000
-87% -$15.1M
ORTX
35
DELISTED
Orchard Therapeutics plc American Depositary Shares
ORTX
$3.4M 0.71%
24,295
-5,705
-19% -$1M
CHMA
36
DELISTED
Chiasma, Inc. Common Stock
CHMA
$2.99M 0.62%
400,000
-300,000
-43% -$1.97M
QURE icon
37
uniQure
QURE
$2.77B
$2.73M 0.57%
+35,000
New +$2.23M
QTTB icon
38
Q32 Bio
QTTB
$255M
$2.45M 0.51%
+6,944
New +$2.73M
PTGX icon
39
Protagonist Therapeutics
PTGX
$9.06B
$2.42M 0.5%
200,000
-500,000
-71% -$5.53M
ODT
40
DELISTED
Odonate Therapeutics, Inc. Common Stock
ODT
$2.38M 0.49%
+65,000
New +$1.56M
ARQL
41
DELISTED
Arqule Inc
ARQL
$2.2M 0.46%
+200,000
New +$1.39M
SLDB icon
42
Solid Biosciences
SLDB
$858M
$575K 0.12%
6,667
– –
ALLK
43
DELISTED
Allakos
ALLK
$455K 0.09%
+10,500
New +$431K
ANAB icon
44
AnaptysBio
ANAB
$1.72B
– –
-115,000
Closed -$8.4M
ASND icon
45
PUT
Ascendis Pharma A/S
ASND
$17.1B
– –
-185,000
Closed -$21.8M
DBVT
46
DBV Technologies
DBVT
$870M
– –
-85,000
Closed -$6.55M
KYNB
47
Kyntra Bio
KYNB
$29.3M
– –
-460
Closed -$625K
GYRE icon
48
Gyre Therapeutics
GYRE
$675M
– –
-13,333
Closed -$811K
TVTX icon
49
Travere Therapeutics
TVTX
$5.27B
– –
-500,000
Closed -$11.3M
VRTX icon
50
Vertex Pharmaceuticals
VRTX
$123B
– –
-80,000
Closed -$14.7M
1
2
3

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Ghost Tree Capital's Q2 2019 Portfolio in Review

As of Q2 2019, Ghost Tree Capital held 55 positions worth $482M, up 26% from $383M the previous quarter. Its ten largest holdings account for 62% of the portfolio.

Ghost Tree Capital deployed $75.7M of net new capital in Q2 2019, opening 16 new positions and adding to 8 existing holdings. Its largest new stake was Sarepta Therapeutics: 290,000 shares worth $44.1M.

By sector, the portfolio is most concentrated in Healthcare at 73% of assets, down from 84% a quarter earlier.

On the sell side, the largest reduction was Ascendis Pharma A/S, an estimated $19.1M trimmed.

  • Ghost Tree Capital's largest Q2 2019 buy was Sarepta Therapeutics: 290,000 shares worth $44.1M.
  • Ghost Tree Capital added most to Mirati Therapeutics, Inc. Common Stock in Q2 2019, an estimated $14.4M increase.
  • Ghost Tree Capital's biggest Q2 2019 reduction was Ascendis Pharma A/S, cutting an estimated $19.1M.
  • Ghost Tree Capital fully exited Vertex Pharmaceuticals in Q2 2019, selling an estimated $14.7M.
  • Ghost Tree Capital's ten largest holdings make up 62% of its $482M portfolio in Q2 2019.
  • Ghost Tree Capital opened 16 new positions and closed 12 in Q2 2019.
  • Ghost Tree Capital's portfolio value rose 26% quarter-over-quarter to $482M.

Based on Ghost Tree Capital's 13F filing for Q2 2019, filed 14 Aug 2019.