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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
+23.2%
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
$426M
AUM Growth
-$44.5M
Cap. Flow
-$76.2M
Cap. Flow %
-17.86%
Top 10 Hldgs %
50.35%
Holding
88
New
25
Increased
8
Reduced
14
Closed
39

Top Buys

1
ESPR
Esperion Therapeutics
ESPR
+$12.4M
2
PTLA
Portola Pharmaceuticals, Inc.
PTLA
+$11.4M
3
BPMC
Blueprint Medicines
BPMC
+$10.6M
4
VTRS icon
Viatris
VTRS
+$9.56M
5
MRTX
Mirati Therapeutics, Inc. Common Stock
MRTX
+$9.31M

Top Sells

1
ZGNX
Zogenix, Inc.
ZGNX
+$16.1M
2
NBIX icon
Neurocrine Biosciences
NBIX
+$13.8M
3
NVRO
NEVRO CORP.
NVRO
+$10.5M
4
ENTL
Entellus Medical, Inc. Common Stock
ENTL
+$10.4M
5
INSM icon
Insmed
INSM
+$10.1M

Sector Composition

1 Healthcare 51.92%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ALNY icon
51
Alnylam Pharmaceuticals
ALNY
$35.7B
– –
-35,000
Closed -$4.11M
BCRX icon
52
BioCryst Pharmaceuticals
BCRX
$2.36B
– –
-500,000
Closed -$2.62M
BMY icon
53
Bristol-Myers Squibb
BMY
$124B
– –
-75,000
Closed -$4.69M
BSX icon
54
Boston Scientific
BSX
$65.4B
– –
-275,000
Closed -$8.02M
DBVT
55
PUT
DBV Technologies
DBVT
$870M
– –
-40,350
Closed -$17.1M
EXEL icon
56
Exelixis
EXEL
$14.1B
– –
-53,500
Closed -$1.3M
FOLD
57
DELISTED
Amicus Therapeutics
FOLD
– –
-200,000
Closed -$3.02M
INSM icon
58
CALL
Insmed
INSM
$23.5B
– –
-300,000
Closed -$9.36M
INSM icon
59
Insmed
INSM
$23.5B
– –
-324,400
Closed -$10.1M
IRIX icon
60
IRIDEX
IRIX
$16.3M
– –
-199,519
Closed -$1.87M
MRK icon
61
Merck
MRK
$315B
– –
-68,120
Closed -$4.16M
NBIX icon
62
Neurocrine Biosciences
NBIX
$17.2B
– –
-225,000
Closed -$13.8M
PBYI icon
63
Puma Biotechnology
PBYI
$434M
– –
-65,000
Closed -$7.78M
PTCT icon
64
CALL
PTC Therapeutics
PTCT
$6.52B
– –
-100,000
Closed -$2M
PTCT icon
65
PTC Therapeutics
PTCT
$6.52B
– –
-100,000
Closed -$2M
SRPT icon
66
Sarepta Therapeutics
SRPT
$1.82B
– –
-100,000
Closed -$4.54M
TMO icon
67
Thermo Fisher Scientific
TMO
$198B
– –
-50,000
Closed -$9.46M
VRTX icon
68
Vertex Pharmaceuticals
VRTX
$123B
– –
-50,000
Closed -$7.6M
ZBH icon
69
Zimmer Biomet
ZBH
$17.6B
– –
-77,250
Closed -$8.78M
PDCO
70
DELISTED
Patterson Companies, Inc.
PDCO
– –
-160,000
Closed -$6.18M
NVRO
71
DELISTED
NEVRO CORP.
NVRO
– –
-115,000
Closed -$10.5M
DCPH
72
DELISTED
Deciphera Pharmaceuticals, Inc. Common Stock
DCPH
– –
-64,410
Closed -$1.22M
NSTG
73
DELISTED
NanoString Technologies, Inc.
NSTG
– –
-345,284
Closed -$5.58M
ARAV
74
DELISTED
Aravive, Inc. Common Stock
ARAV
– –
-45,833
Closed -$674K
ICPT
75
CALL
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
– –
-100,000
Closed -$5.8M
1 2
3
4

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Ghost Tree Capital's Q4 2017 Portfolio in Review

As of Q4 2017, Ghost Tree Capital held 88 positions worth $426M, down 9.4% from $471M the previous quarter. Its ten largest holdings account for 50% of the portfolio.

Ghost Tree Capital withdrew a net $76.2M in Q4 2017, closing 39 positions and reducing 14 holdings. Its most notable exit was Neurocrine Biosciences, an estimated $13.8M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 52% of assets, down from 58% a quarter earlier.

Against the trend, Ghost Tree Capital opened a new position in Esperion Therapeutics worth $15.1M.

  • Ghost Tree Capital's largest Q4 2017 buy was Esperion Therapeutics: 230,000 shares worth $15.1M.
  • Ghost Tree Capital added most to Global Blood Therapeutics, Inc. in Q4 2017, an estimated $2.8M increase.
  • Ghost Tree Capital's biggest Q4 2017 reduction was Zogenix, Inc., cutting an estimated $16.1M.
  • Ghost Tree Capital fully exited Neurocrine Biosciences in Q4 2017, selling an estimated $13.8M.
  • Ghost Tree Capital's ten largest holdings make up 50% of its $426M portfolio in Q4 2017.
  • Ghost Tree Capital opened 25 new positions and closed 39 in Q4 2017.
  • Ghost Tree Capital's portfolio value fell 9.4% quarter-over-quarter to $426M.

Based on Ghost Tree Capital's 13F filing for Q4 2017, filed 14 Feb 2018.