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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
-21.08%
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
$276M
AUM Growth
-$195M
Cap. Flow
-$123M
Cap. Flow %
-44.49%
Top 10 Hldgs %
57.9%
Holding
67
New
12
Increased
8
Reduced
10
Closed
27

Top Buys

Rank Stock Value
1
VRTX icon
Vertex Pharmaceuticals
VRTX
+$13.9M
2
IOVA icon
Iovance Biotherapeutics
IOVA
+$9.64M
3
BOLD
Audentes Therapeutics, Inc
BOLD
+$7.74M
4
FOLD
Amicus Therapeutics
FOLD
+$7.14M
5
ANAB icon
AnaptysBio
ANAB
+$5.95M

Top Sells

Rank Stock Value
1
PTCT icon
PTC Therapeutics
PTCT
+$23.5M
2
ECYT
Endocyte, Inc. Common Stock
ECYT
+$19.5M
3
TSRO
TESARO, Inc.
TSRO
+$17.6M
4
SRPT icon
Sarepta Therapeutics
SRPT
+$17.5M
5
ASMB icon
Assembly Biosciences
ASMB
+$12.1M

Sector Composition

Rank Sector Weight
1 Healthcare 61.14%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
INSM icon
51
Insmed
INSM
$23.5B
– –
-26,000
Closed -$526K
KURA icon
52
Kura Oncology
KURA
$964M
– –
-230,000
Closed -$4.03M
NGNE icon
53
Neurogene
NGNE
$744M
– –
-25,000
Closed -$1.47M
PDSB icon
54
PDS Biotechnology
PDSB
$41.1M
– –
-50,000
Closed -$820K
PTCT icon
55
PTC Therapeutics
PTCT
$6.52B
– –
-500,000
Closed -$23.5M
TGTX icon
56
TG Therapeutics
TGTX
$8.4B
– –
-45,500
Closed -$255K
XBI icon
57
PUT
State Street SPDR S&P Biotech ETF
XBI
$10.4B
– –
-500,000
Closed -$47.9M
GRTS
58
DELISTED
Gritstone bio, Inc. Common Stock
GRTS
– –
-75,000
Closed -$1.07M
MRTX
59
PUT
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
– –
-300,000
Closed -$14.1M
SPPI
60
DELISTED
Spectrum Pharmaceuticals Inc
SPPI
– –
-47,200
Closed -$793K
GBT
61
CALL
DELISTED
Global Blood Therapeutics, Inc.
GBT
– –
-150,000
Closed -$5.7M
RDUS
62
DELISTED
Radius Health, Inc.
RDUS
– –
-200,000
Closed -$3.56M
NEOS
63
DELISTED
Neos Therapeutics, Inc
NEOS
– –
-482,600
Closed -$2.34M
PTLA
64
DELISTED
Portola Pharmaceuticals, Inc.
PTLA
– –
-300,000
Closed -$7.99M
TSRO
65
DELISTED
TESARO, Inc.
TSRO
– –
-450,000
Closed -$17.6M
ECYT
66
DELISTED
Endocyte, Inc. Common Stock
ECYT
– –
-1,100,000
Closed -$19.5M
ZGNX
67
DELISTED
Zogenix, Inc.
ZGNX
– –
-200,000
Closed -$9.92M
1 2
3

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Ghost Tree Capital's Q4 2018 Portfolio in Review

As of Q4 2018, Ghost Tree Capital held 67 positions worth $276M, down 41% from $470M the previous quarter. Its ten largest holdings account for 58% of the portfolio.

Ghost Tree Capital withdrew a net $123M in Q4 2018, closing 27 positions and reducing 10 holdings. Its most notable exit was PTC Therapeutics, an estimated $23.5M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 61% of assets, down from 68% a quarter earlier.

Against the trend, Ghost Tree Capital opened a new position in Vertex Pharmaceuticals worth $13.3M.

  • Ghost Tree Capital's largest Q4 2018 buy was Vertex Pharmaceuticals: 80,000 shares worth $13.3M.
  • Ghost Tree Capital added most to AnaptysBio in Q4 2018, an estimated $5.95M increase.
  • Ghost Tree Capital's biggest Q4 2018 reduction was Sarepta Therapeutics, cutting an estimated $17.5M.
  • Ghost Tree Capital fully exited PTC Therapeutics in Q4 2018, selling an estimated $23.5M.
  • Ghost Tree Capital's ten largest holdings make up 58% of its $276M portfolio in Q4 2018.
  • Ghost Tree Capital opened 12 new positions and closed 27 in Q4 2018.
  • Ghost Tree Capital's portfolio value fell 41% quarter-over-quarter to $276M.

Based on Ghost Tree Capital's 13F filing for Q4 2018, filed 14 Feb 2019.