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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
APLS
51
PUT
DELISTED
Apellis Pharmaceuticals
APLS
– –
-300,000
Closed -$9.19M
BPMC
52
DELISTED
Blueprint Medicines
BPMC
– –
-150,000
Closed -$12M
DBVT
53
DBV Technologies
DBVT
$870M
– –
-75,000
Closed -$8.03M
FOLD
54
DELISTED
Amicus Therapeutics
FOLD
– –
-1,250,000
Closed -$12.2M
FXB icon
55
Invesco CurrencyShares British Pound Sterling Trust
FXB
$77.6M
– –
-11,600
Closed -$1.49M
FXF icon
56
Invesco CurrencyShares Swiss Franc Trust
FXF
$420M
– –
-52,000
Closed -$4.95M
INSM icon
57
Insmed
INSM
$23.5B
– –
-200,000
Closed -$4.78M
IOVA icon
58
CALL
Iovance Biotherapeutics
IOVA
$2.23B
– –
-350,000
Closed -$9.69M
KPTI icon
59
Karyopharm Therapeutics
KPTI
$216M
– –
-3,367
Closed -$968K
SAGE
60
CALL
DELISTED
Sage Therapeutics
SAGE
– –
-150,000
Closed -$10.8M
SRPT icon
61
Sarepta Therapeutics
SRPT
$1.82B
– –
-65,000
Closed -$8.39M
SPPI
62
DELISTED
Spectrum Pharmaceuticals Inc
SPPI
– –
-38,340
Closed -$140K
AERI
63
DELISTED
Aerie Pharmaceuticals
AERI
– –
-575,000
Closed -$13.9M
GBT
64
DELISTED
Global Blood Therapeutics, Inc.
GBT
– –
-33,400
Closed -$2.65M
CHMA
65
DELISTED
Chiasma, Inc. Common Stock
CHMA
– –
-425,000
Closed -$2.11M
ARQL
66
DELISTED
Arqule Inc
ARQL
– –
-300,000
Closed -$5.99M
BHVN
67
DELISTED
Biohaven Pharmaceutical Holding Company Ltd.
BHVN
– –
-40,000
Closed -$2.18M
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.