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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
-12.14%
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
$377M
AUM Growth
-$148M
Cap. Flow
-$43.4M
Cap. Flow %
-11.52%
Top 10 Hldgs %
63.21%
Holding
67
New
15
Increased
11
Reduced
20
Closed
20

Top Buys

Rank Stock Value
1
IMMU
Immunomedics Inc
IMMU
+$9.25M
2
MRSN
Mersana Therapeutics
MRSN
+$8.39M
3
ZGNX
Zogenix, Inc.
ZGNX
+$5.46M
4
XENE icon
Xenon Pharmaceuticals
XENE
+$4.63M
5
SAGE
Sage Therapeutics
SAGE
+$3.76M

Top Sells

Rank Stock Value
1
AERI
Aerie Pharmaceuticals
AERI
+$13.9M
2
FOLD
Amicus Therapeutics
FOLD
+$12.2M
3
BPMC
Blueprint Medicines
BPMC
+$12M
4
SRPT icon
Sarepta Therapeutics
SRPT
+$8.39M
5
DBVT
DBV Technologies
DBVT
+$8.03M

Sector Composition

Rank Sector Weight
1 Healthcare 54.37%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ARVN icon
26
Arvinas
ARVN
$517M
$3.22M 0.86%
80,000
-145,000
-64% -$6.78M
QTTB icon
27
Q32 Bio
QTTB
$255M
$3.11M 0.82%
+11,111
New +$3.4M
ISEE
28
DELISTED
IVERIC bio, Inc. Common Stock
ISEE
$2.85M 0.76%
828,459
+78,459
+10% +$459K
AVDL
29
DELISTED
Avadel Pharmaceuticals
AVDL
$2.78M 0.74%
+350,000
New +$2.69M
SNDX icon
30
Syndax Pharmaceuticals
SNDX
$2.02B
$2.74M 0.73%
+250,000
New +$2.35M
KALV
31
DELISTED
KalVista Pharmaceuticals
KALV
$2.68M 0.71%
350,000
-65,000
-16% -$877K
STSA
32
DELISTED
Satsuma Pharmaceuticals, Inc. Common Stock
STSA
$2.48M 0.66%
+115,000
New +$2.61M
CHRS icon
33
Coherus Oncology
CHRS
$216M
$2.43M 0.65%
150,000
-280,000
-65% -$5.17M
FXE icon
34
Invesco CurrencyShares Euro Currency Trust
FXE
$354M
$2.17M 0.58%
+20,830
New +$2.17M
TGTX icon
35
TG Therapeutics
TGTX
$8.4B
$1.97M 0.52%
200,000
+137,000
+217% +$1.73M
VRAY
36
DELISTED
ViewRay, Inc.
VRAY
$1.96M 0.52%
782,928
-417,072
-35% -$1.18M
SAGE
37
DELISTED
Sage Therapeutics
SAGE
$1.87M 0.5%
+65,000
New +$3.76M
CUE icon
38
Cue Biopharma
CUE
$131M
$1.77M 0.47%
+4,167
New +$2.02M
KNSA icon
39
Kiniksa Pharmaceuticals
KNSA
$4.92B
$1.75M 0.46%
112,695
-237,305
-68% -$3.71M
PHAS
40
DELISTED
PhaseBio Pharmaceuticals, Inc. Common Stock
PHAS
$1.65M 0.44%
497,074
+47,074
+10% +$215K
PTGX icon
41
Protagonist Therapeutics
PTGX
$9.06B
$1.61M 0.43%
227,827
-47,173
-17% -$353K
KDMN
42
DELISTED
Kadmon Holdings, Inc.
KDMN
$1.47M 0.39%
350,000
-112,500
-24% -$484K
ORTX
43
DELISTED
Orchard Therapeutics plc American Depositary Shares
ORTX
$1.34M 0.36%
17,811
-4,625
-21% -$533K
AGTC
44
DELISTED
Applied Genetic Technologies Corporation
AGTC
$1.22M 0.32%
+372,806
New +$1.96M
BIIB icon
45
Biogen
BIIB
$30.4B
$1.03M 0.27%
+3,250
New +$986K
AMRN
46
CALL
Amarin Corp
AMRN
$292M
$662K 0.18%
8,280
-4,220
-34% -$1.4M
MIST icon
47
Milestone Pharmaceuticals
MIST
$148M
$384K 0.1%
208,733
-26,267
-11% -$455K
ANAB icon
48
AnaptysBio
ANAB
$1.72B
– –
-11,500
Closed -$187K
APLS
49
CALL
DELISTED
Apellis Pharmaceuticals
APLS
– –
-250,000
Closed -$7.66M
APLS
50
DELISTED
Apellis Pharmaceuticals
APLS
– –
-175,000
Closed -$5.36M
1
2
3

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Ghost Tree Capital's Q1 2020 Portfolio in Review

As of Q1 2020, Ghost Tree Capital held 67 positions worth $377M, down 28% from $525M the previous quarter. Its ten largest holdings account for 63% of the portfolio.

Ghost Tree Capital withdrew a net $43.4M in Q1 2020, closing 20 positions and reducing 20 holdings. Its most notable exit was Aerie Pharmaceuticals, an estimated $13.9M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 54% of assets, down from 64% a quarter earlier.

Against the trend, Ghost Tree Capital opened a new position in Zogenix, Inc. worth $3.71M.

  • Ghost Tree Capital's largest Q1 2020 buy was Zogenix, Inc.: 150,000 shares worth $3.71M.
  • Ghost Tree Capital added most to Immunomedics Inc in Q1 2020, an estimated $9.25M increase.
  • Ghost Tree Capital's biggest Q1 2020 reduction was Iovance Biotherapeutics, cutting an estimated $7.95M.
  • Ghost Tree Capital fully exited Aerie Pharmaceuticals in Q1 2020, selling an estimated $13.9M.
  • Ghost Tree Capital's ten largest holdings make up 63% of its $377M portfolio in Q1 2020.
  • Ghost Tree Capital opened 15 new positions and closed 20 in Q1 2020.
  • Ghost Tree Capital's portfolio value fell 28% quarter-over-quarter to $377M.

Based on Ghost Tree Capital's 13F filing for Q1 2020, filed 15 May 2020.