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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
+1.9%
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
$364M
AUM Growth
-$61.7M
Cap. Flow
-$51.8M
Cap. Flow %
-14.24%
Top 10 Hldgs %
49.17%
Holding
67
New
17
Increased
9
Reduced
10
Closed
14

Top Buys

1
RAPT
RAPT Therapeutics
RAPT
+$13.3M
2
ALLO icon
Allogene Therapeutics
ALLO
+$7.84M
3
LKFT
Lakefront Biotherapeutics American Depositary Shares
LKFT
+$5.72M
4
TARS icon
Tarsus Pharmaceuticals
TARS
+$5.31M
5
CRNX icon
Crinetics Pharmaceuticals
CRNX
+$4.28M

Top Sells

1
APLS
Apellis Pharmaceuticals
APLS
+$9.65M
2
RCKT icon
Rocket Pharmaceuticals
RCKT
+$8.69M
3
ACRS icon
Aclaris Therapeutics
ACRS
+$7.95M
4
IWM icon
iShares Russell 2000 ETF
IWM
+$6.63M
5
TRIL
Trillium Therapeutics Inc.
TRIL
+$6.59M

Sector Composition

1 Healthcare 84.57%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PRVB
51
DELISTED
Provention Bio, Inc. Common Stock
PRVB
$843K 0.23%
+100,000
New +$807K
TBIO
52
DELISTED
Telesis Bio, Inc. Common Stock
TBIO
$770K 0.21%
+1,944
New +$687K
APLS
53
DELISTED
Apellis Pharmaceuticals
APLS
– –
-225,000
Closed -$9.65M
APVO icon
54
Aptevo Therapeutics
APVO
$5.91M
– –
0
– -$1.53M
ARKG icon
55
PUT
ARK Genomic Revolution ETF
ARKG
$1.61B
– –
-200,000
Closed -$17.7M
BCRX icon
56
BioCryst Pharmaceuticals
BCRX
$2.36B
– –
-500,000
Closed -$5.08M
CLDX icon
57
PUT
Celldex Therapeutics
CLDX
$2.77B
– –
-100,000
Closed -$2.06M
DTIL icon
58
Precision BioSciences
DTIL
$203M
– –
-6,667
Closed -$2.07M
KYNB
59
Kyntra Bio
KYNB
$29.3M
– –
-5,000
Closed -$4.34M
IMVT icon
60
Immunovant
IMVT
$8.27B
– –
-250,000
Closed -$3.49M
IWM icon
61
iShares Russell 2000 ETF
IWM
$82.2B
– –
-30,000
Closed -$6.63M
KRRO icon
62
PUT
Korro Bio
KRRO
$177M
– –
-2,000
Closed -$950K
NUVB icon
63
Nuvation Bio
NUVB
$2.02B
– –
-500,000
Closed -$4.96M
NVAX icon
64
Novavax
NVAX
$1.35B
– –
-17,500
Closed -$3.17M
QQQ icon
65
PUT
Invesco QQQ Trust
QQQ
$466B
– –
-150,000
Closed -$47.9M
SAGE
66
DELISTED
Sage Therapeutics
SAGE
– –
-30,000
Closed -$2.25M
CNST
67
DELISTED
Constellation Pharmaceuticals, Inc.
CNST
– –
-275,000
Closed -$6.43M
1 2
3

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Ghost Tree Capital's Q2 2021 Portfolio in Review

As of Q2 2021, Ghost Tree Capital held 67 positions worth $364M, down 14% from $425M the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Ghost Tree Capital withdrew a net $51.8M in Q2 2021, closing 14 positions and reducing 10 holdings. Its most notable exit was Apellis Pharmaceuticals, an estimated $9.65M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 85% of assets, up from 77% a quarter earlier.

Against the trend, Ghost Tree Capital opened a new position in RAPT Therapeutics worth $18.1M.

  • Ghost Tree Capital's largest Q2 2021 buy was RAPT Therapeutics: 71,250 shares worth $18.1M.
  • Ghost Tree Capital added most to Biogen in Q2 2021, an estimated $3.79M increase.
  • Ghost Tree Capital's biggest Q2 2021 reduction was Rocket Pharmaceuticals, cutting an estimated $8.69M.
  • Ghost Tree Capital fully exited Apellis Pharmaceuticals in Q2 2021, selling an estimated $9.65M.
  • Ghost Tree Capital's ten largest holdings make up 49% of its $364M portfolio in Q2 2021.
  • Ghost Tree Capital opened 17 new positions and closed 14 in Q2 2021.
  • Ghost Tree Capital's portfolio value fell 14% quarter-over-quarter to $364M.

Based on Ghost Tree Capital's 13F filing for Q2 2021, filed 11 Aug 2021.