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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
-2.22%
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
$415M
AUM Growth
-$201M
Cap. Flow
-$160M
Cap. Flow %
-38.55%
Top 10 Hldgs %
36.85%
Holding
112
New
24
Increased
13
Reduced
25
Closed
42

Top Buys

Rank Stock Value
1
SHPG
Shire pic
SHPG
+$17.7M
2
MRK icon
Merck
MRK
+$13.8M
3
SGEN
Seagen Inc. Common Stock
SGEN
+$9.02M
4
ICPT
Intercept Pharmaceuticals, Inc.
ICPT
+$8.34M
5
MNK
MALLINCKRODT PUBLIC LIMITED COMPANY
MNK
+$7.95M

Top Sells

Rank Stock Value
1
EW icon
Edwards Lifesciences
EW
+$10.2M
2
CLVS
Clovis Oncology, Inc.
CLVS
+$9.85M
3
CYNO
Cynosure, Inc. Class A
CYNO
+$7.64M
4
PACB icon
Pacific Biosciences
PACB
+$6.72M
5
ENTA icon
Enanta Pharmaceuticals
ENTA
+$6.65M

Sector Composition

Rank Sector Weight
1 Healthcare 73.04%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MDCO
51
DELISTED
Medicines Co
MDCO
$2.55M 0.61%
+75,000
New +$2.66M
XENE icon
52
Xenon Pharmaceuticals
XENE
$6.6B
$2.5M 0.6%
325,000
– –
TSRO
53
DELISTED
TESARO, Inc.
TSRO
$2.29M 0.55%
17,000
– –
HZNP
54
CALL
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
$2.09M 0.5%
129,100
-170,900
-57% -$3.1M
BLUE
55
DELISTED
bluebird bio
BLUE
$1.85M 0.45%
2,316
-2,316
-50% -$1.84M
RCKT icon
56
CALL
Rocket Pharmaceuticals
RCKT
$376M
$1.83M 0.44%
75,000
+69,825
+1,349% +$1.99M
RIGL icon
57
Rigel Pharmaceuticals
RIGL
$750M
$1.67M 0.4%
70,000
– –
VCYT icon
58
Veracyte
VCYT
$4.72B
$1.55M 0.37%
200,000
-164,000
-45% -$1.23M
INCY icon
59
Incyte
INCY
$23.4B
$1.3M 0.31%
+13,000
New +$1.27M
RARX
60
DELISTED
Ra Pharmaceuticals, Inc. Common Stock
RARX
$1.14M 0.27%
+75,000
New +$1.02M
ARCT icon
61
Arcturus Therapeutics
ARCT
$172M
$1.05M 0.25%
71,429
-21,428
-23% -$320K
XLRN
62
DELISTED
Acceleron Pharma
XLRN
$1.02M 0.25%
+40,000
New +$1.27M
VTVT icon
63
vTv Therapeutics
VTVT
$130M
$966K 0.23%
+5,000
New +$1.15M
ARIA
64
DELISTED
Ariad Pharmaceuticals Inc
ARIA
$933K 0.22%
+75,000
New +$903K
MRTX
65
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
$818K 0.2%
172,184
-102,816
-37% -$559K
VNDA icon
66
Vanda Pharmaceuticals
VNDA
$327M
$734K 0.18%
46,000
-65,000
-59% -$1.04M
ISEE
67
CALL
DELISTED
IVERIC bio, Inc. Common Stock
ISEE
$416K 0.1%
86,100
-113,900
-57% -$3.38M
ACOR
68
DELISTED
Acorda Therapeutics
ACOR
$376K 0.09%
167
-1,916
-92% -$4.56M
SGYP
69
DELISTED
Synergy Pharmaceuticals, Inc Common Stock
SGYP
$335K 0.08%
55,000
– –
AKTX
70
Akari Therapeutics
AKTX
$19.3M
$328K 0.08%
58
– –
AKBA icon
71
Akebia Therapeutics
AKBA
$359M
– –
-300,000
Closed -$2.71M
BIIB icon
72
CALL
Biogen
BIIB
$30.4B
– –
-65,000
Closed -$20.3M
BMRN icon
73
BioMarin Pharmaceuticals
BMRN
$11.5B
– –
-60,000
Closed -$5.55M
CNMD icon
74
CONMED
CNMD
$1.3B
– –
-45,000
Closed -$1.8M
CRBP icon
75
Corbus Pharmaceuticals
CRBP
$167M
– –
-6,667
Closed -$1.36M
1 2
3
4 5

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Ghost Tree Capital's Q4 2016 Portfolio in Review

As of Q4 2016, Ghost Tree Capital held 112 positions worth $415M, down 33% from $617M the previous quarter. Its ten largest holdings account for 37% of the portfolio.

Ghost Tree Capital withdrew a net $160M in Q4 2016, closing 42 positions and reducing 25 holdings. Its most notable exit was Edwards Lifesciences, an estimated $10.2M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 73% of assets, up from 51% a quarter earlier.

Against the trend, Ghost Tree Capital opened a new position in Shire pic worth $17M.

  • Ghost Tree Capital's largest Q4 2016 buy was Shire pic: 100,000 shares worth $17M.
  • Ghost Tree Capital added most to AveXis, Inc. Common Stock in Q4 2016, an estimated $7.93M increase.
  • Ghost Tree Capital's biggest Q4 2016 reduction was Clovis Oncology, Inc., cutting an estimated $9.85M.
  • Ghost Tree Capital fully exited Edwards Lifesciences in Q4 2016, selling an estimated $10.2M.
  • Ghost Tree Capital's ten largest holdings make up 37% of its $415M portfolio in Q4 2016.
  • Ghost Tree Capital opened 24 new positions and closed 42 in Q4 2016.
  • Ghost Tree Capital's portfolio value fell 33% quarter-over-quarter to $415M.

Based on Ghost Tree Capital's 13F filing for Q4 2016, filed 14 Feb 2017.