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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
+50.06%
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
$383M
AUM Growth
+$107M
Cap. Flow
+$27.1M
Cap. Flow %
7.08%
Top 10 Hldgs %
52.27%
Holding
53
New
13
Increased
10
Reduced
8
Closed
14

Top Buys

1
ASND icon
Ascendis Pharma A/S
ASND
+$22.8M
2
ACAD icon
Acadia Pharmaceuticals
ACAD
+$18.1M
3
BPMC
Blueprint Medicines
BPMC
+$17.7M
4
SAGE
Sage Therapeutics
SAGE
+$10.4M
5
GBT
Global Blood Therapeutics, Inc.
GBT
+$9.83M

Top Sells

1
MRTX
Mirati Therapeutics, Inc. Common Stock
MRTX
+$17M
2
DRNA
Dicerna Pharmaceuticals, Inc.
DRNA
+$13.4M
3
BHVN
Biohaven Pharmaceutical Holding Company Ltd.
BHVN
+$11.9M
4
SRPT icon
Sarepta Therapeutics
SRPT
+$7.64M
5
OBSV
ObsEva SA Ordinary Shares
OBSV
+$4.52M

Sector Composition

1 Healthcare 84.25%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ASND icon
1
Ascendis Pharma A/S
ASND
$17.1B
$45.3M 11.84%
385,000
+260,000
+208% +$22.8M
ACAD icon
2
Acadia Pharmaceuticals
ACAD
$4.38B
$24.2M 6.31%
900,000
+775,000
+620% +$18.1M
ASND icon
3
PUT
Ascendis Pharma A/S
ASND
$17.1B
$21.8M 5.69%
+185,000
New +$16.2M
BPMC
4
DELISTED
Blueprint Medicines
BPMC
$19.2M 5.02%
+240,000
New +$17.7M
FOLD
5
DELISTED
Amicus Therapeutics
FOLD
$17.7M 4.62%
1,300,000
+650,000
+100% +$7.94M
GBT
6
DELISTED
Global Blood Therapeutics, Inc.
GBT
$15.9M 4.15%
300,000
+200,000
+200% +$9.83M
IMMU
7
DELISTED
Immunomedics Inc
IMMU
$15.4M 4.02%
800,000
– –
VRTX icon
8
Vertex Pharmaceuticals
VRTX
$123B
$14.7M 3.84%
80,000
– –
ALNY icon
9
Alnylam Pharmaceuticals
ALNY
$35.7B
$14M 3.66%
150,000
+115,000
+329% +$9.62M
SAGE
10
DELISTED
Sage Therapeutics
SAGE
$11.9M 3.12%
75,000
+71,700
+2,173% +$10.4M
KALV
11
DELISTED
KalVista Pharmaceuticals
KALV
$11.4M 2.99%
400,000
-25,000
-6% -$542K
TVTX icon
12
Travere Therapeutics
TVTX
$5.27B
$11.3M 2.96%
500,000
– –
MRTX
13
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
$11M 2.87%
150,000
-250,000
-63% -$17M
IOVA icon
14
Iovance Biotherapeutics
IOVA
$2.23B
$10.9M 2.86%
1,150,000
+150,000
+15% +$1.46M
RCKT icon
15
Rocket Pharmaceuticals
RCKT
$376M
$10.5M 2.75%
600,000
– –
CBAY
16
DELISTED
Cymabay Therapeutics
CBAY
$9.96M 2.6%
+750,000
New +$7.98M
BHVN
17
CALL
DELISTED
Biohaven Pharmaceutical Holding Company Ltd.
BHVN
$9.01M 2.35%
+175,000
New +$7.56M
PTGX icon
18
Protagonist Therapeutics
PTGX
$9.06B
$8.8M 2.3%
+700,000
New +$6.18M
FXF icon
19
Invesco CurrencyShares Swiss Franc Trust
FXF
$420M
$8.57M 2.24%
91,800
+36,600
+66% +$3.42M
ANAB icon
20
AnaptysBio
ANAB
$1.72B
$8.4M 2.19%
115,000
-25,000
-18% -$1.73M
MNTA
21
DELISTED
Momenta Pharmaceuticals, Inc.
MNTA
$7.26M 1.9%
500,000
+175,000
+54% +$2.24M
BOLD
22
DELISTED
Audentes Therapeutics, Inc
BOLD
$6.83M 1.78%
175,000
-125,000
-42% -$3.58M
RARX
23
DELISTED
Ra Pharmaceuticals, Inc. Common Stock
RARX
$6.72M 1.76%
+300,000
New +$6.45M
DBVT
24
DBV Technologies
DBVT
$870M
$6.55M 1.71%
+85,000
New +$6.46M
EPZM
25
DELISTED
Epizyme, Inc
EPZM
$6.2M 1.62%
+500,000
New +$5.59M
1
2 3

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Ghost Tree Capital's Q1 2019 Portfolio in Review

As of Q1 2019, Ghost Tree Capital held 53 positions worth $383M, up 39% from $276M the previous quarter. Its ten largest holdings account for 52% of the portfolio.

Ghost Tree Capital deployed $27.1M of net new capital in Q1 2019, opening 13 new positions and adding to 10 existing holdings. Its largest new stake was Blueprint Medicines: 240,000 shares worth $19.2M.

By sector, the portfolio is most concentrated in Healthcare at 84% of assets, up from 61% a quarter earlier.

On the sell side, the largest reduction was Mirati Therapeutics, Inc. Common Stock, an estimated $17M trimmed.

  • Ghost Tree Capital's largest Q1 2019 buy was Blueprint Medicines: 240,000 shares worth $19.2M.
  • Ghost Tree Capital added most to Ascendis Pharma A/S in Q1 2019, an estimated $22.8M increase.
  • Ghost Tree Capital's biggest Q1 2019 reduction was Mirati Therapeutics, Inc. Common Stock, cutting an estimated $17M.
  • Ghost Tree Capital fully exited Dicerna Pharmaceuticals, Inc. in Q1 2019, selling an estimated $13.4M.
  • Ghost Tree Capital's ten largest holdings make up 52% of its $383M portfolio in Q1 2019.
  • Ghost Tree Capital opened 13 new positions and closed 14 in Q1 2019.
  • Ghost Tree Capital's portfolio value rose 39% quarter-over-quarter to $383M.

Based on Ghost Tree Capital's 13F filing for Q1 2019, filed 15 May 2019.