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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
-11.22%
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
$192M
AUM Growth
-$269M
Cap. Flow
-$237M
Cap. Flow %
-123.24%
Top 10 Hldgs %
57.46%
Holding
50
New
8
Increased
10
Reduced
11
Closed
17

Top Buys

1
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
+$9.47M
2
SRPT icon
Sarepta Therapeutics
SRPT
+$5.89M
3
MRTX
Mirati Therapeutics, Inc. Common Stock
MRTX
+$5.72M
4
SGEN
Seagen Inc. Common Stock
SGEN
+$5.04M
5
AXSM icon
Axsome Therapeutics
AXSM
+$4.13M

Top Sells

1
SRRA
Sierra Oncology, Inc. Common Stock
SRRA
+$10.4M
2
CLDX icon
Celldex Therapeutics
CLDX
+$8.71M
3
ASND icon
Ascendis Pharma A/S
ASND
+$6.13M
4
COGT icon
Cogent Biosciences
COGT
+$5.46M
5
BCYC
Bicycle Therapeutics
BCYC
+$4.39M

Sector Composition

1 Healthcare 75.76%
2 Financials 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DICE
26
CALL
DELISTED
DICE Therapeutics, Inc. Common Stock
DICE
$2.33M 1.21%
+150,000
New +$2.58M
WHWK
27
Whitehawk Therapeutics
WHWK
$192M
$1.85M 0.96%
150,000
– –
TARS icon
28
Tarsus Pharmaceuticals
TARS
$2.61B
$1.75M 0.91%
120,000
– –
MLTX icon
29
MoonLake Immunotherapeutics
MLTX
$1.64B
$1.57M 0.82%
+300,000
New +$1.89M
NMTR
30
DELISTED
9 Meters Biopharma
NMTR
$469K 0.24%
90,000
-72,500
-45% -$683K
SYRE icon
31
Spyre Therapeutics
SYRE
$8.7B
$467K 0.24%
37,000
+9,536
+35% +$334K
DICE
32
DELISTED
DICE Therapeutics, Inc. Common Stock
DICE
$466K 0.24%
+30,000
New +$516K
ALNY icon
33
Alnylam Pharmaceuticals
ALNY
$35.7B
$277K 0.14%
+1,900
New +$270K
ACRS icon
34
Aclaris Therapeutics
ACRS
$793M
– –
-125,000
Closed -$2.15M
AXSM icon
35
PUT
Axsome Therapeutics
AXSM
$11.8B
– –
-150,000
Closed -$6.21M
BCYC
36
Bicycle Therapeutics
BCYC
$294M
– –
-100,000
Closed -$4.39M
CLDX icon
37
Celldex Therapeutics
CLDX
$2.77B
– –
-300,000
Closed -$8.71M
CRNX icon
38
Crinetics Pharmaceuticals
CRNX
$8.88B
– –
-85,000
Closed -$1.87M
CYPH
39
Cypherpunk Technologies Inc
CYPH
$75.4M
– –
-99,371
Closed -$1.74M
LRMR icon
40
Larimar Therapeutics
LRMR
$384M
– –
-100,000
Closed -$405K
PYXS icon
41
Pyxis Oncology
PYXS
$150M
– –
-75,000
Closed -$303K
RCKT icon
42
Rocket Pharmaceuticals
RCKT
$376M
– –
-200,000
Closed -$3.17M
SPY icon
43
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$774B
– –
-500,000
Closed -$226M
VRNA
44
DELISTED
Verona Pharma
VRNA
– –
-750,000
Closed -$3.74M
VTGN icon
45
VistaGen Therapeutics
VTGN
$9.4M
– –
-43,838
Closed -$1.63M
XENE icon
46
Xenon Pharmaceuticals
XENE
$6.6B
– –
-100,000
Closed -$3.06M
ZNTL icon
47
Zentalis Pharmaceuticals
ZNTL
$364M
– –
-80,000
Closed -$3.69M
PRDS
48
DELISTED
Pardes Biosciences, Inc. Common Stock
PRDS
– –
-85,000
Closed -$614K
STSA
49
DELISTED
Satsuma Pharmaceuticals, Inc. Common Stock
STSA
– –
-473,562
Closed -$1.8M
SRRA
50
DELISTED
Sierra Oncology, Inc. Common Stock
SRRA
– –
-325,000
Closed -$10.4M
1
2

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Ghost Tree Capital's Q2 2022 Portfolio in Review

As of Q2 2022, Ghost Tree Capital held 50 positions worth $192M, down 58% from $461M the previous quarter. Its ten largest holdings account for 57% of the portfolio.

Ghost Tree Capital withdrew a net $237M in Q2 2022, closing 17 positions and reducing 11 holdings. Its most notable exit was Sierra Oncology, Inc. Common Stock, an estimated $10.4M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 76% of assets, up from 43% a quarter earlier, followed by Financials.

Against the trend, Ghost Tree Capital opened a new position in Horizon Therapeutics Public Limited Company Ordinary Shares worth $7.98M.

  • Ghost Tree Capital's largest Q2 2022 buy was Horizon Therapeutics Public Limited Company Ordinary Shares: 100,000 shares worth $7.98M.
  • Ghost Tree Capital added most to Sarepta Therapeutics in Q2 2022, an estimated $5.89M increase.
  • Ghost Tree Capital's biggest Q2 2022 reduction was Ascendis Pharma A/S, cutting an estimated $6.13M.
  • Ghost Tree Capital fully exited Sierra Oncology, Inc. Common Stock in Q2 2022, selling an estimated $10.4M.
  • Ghost Tree Capital's ten largest holdings make up 57% of its $192M portfolio in Q2 2022.
  • Ghost Tree Capital opened 8 new positions and closed 17 in Q2 2022.
  • Ghost Tree Capital's portfolio value fell 58% quarter-over-quarter to $192M.

Based on Ghost Tree Capital's 13F filing for Q2 2022, filed 15 Aug 2022.