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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
+70.22%
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
$379M
AUM Growth
+$1.99M
Cap. Flow
-$143M
Cap. Flow %
-37.85%
Top 10 Hldgs %
49.33%
Holding
57
New
10
Increased
10
Reduced
18
Closed
14

Top Buys

1
ACAD icon
Acadia Pharmaceuticals
ACAD
+$7.92M
2
IOVA icon
Iovance Biotherapeutics
IOVA
+$7.56M
3
TGTX icon
TG Therapeutics
TGTX
+$6.44M
4
AGIO icon
Agios Pharmaceuticals
AGIO
+$5.32M
5
STSA
Satsuma Pharmaceuticals, Inc. Common Stock
STSA
+$5.21M

Top Sells

1
MRSN
Mersana Therapeutics
MRSN
+$18.8M
2
IMMU
Immunomedics Inc
IMMU
+$13.9M
3
ASND icon
Ascendis Pharma A/S
ASND
+$11.7M
4
AXSM icon
Axsome Therapeutics
AXSM
+$8.85M
5
ADVM
Adverum Biotechnologies
ADVM
+$7.18M

Sector Composition

1 Healthcare 71.19%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
XBI icon
1
PUT
State Street SPDR S&P Biotech ETF
XBI
$10.4B
$33.6M 8.86%
300,000
-437,500
-59% -$43.1M
IMMU
2
DELISTED
Immunomedics Inc
IMMU
$20.4M 5.38%
575,000
-475,000
-45% -$13.9M
SPY icon
3
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$774B
$20M 5.29%
65,000
-81,700
-56% -$23.9M
CNST
4
DELISTED
Constellation Pharmaceuticals, Inc.
CNST
$19.5M 5.15%
650,000
– –
ADVM
5
DELISTED
Adverum Biotechnologies
ADVM
$18.8M 4.96%
90,000
-40,550
-31% -$7.18M
MRTX
6
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
$17.7M 4.67%
155,000
+40,000
+35% +$3.88M
IOVA icon
7
Iovance Biotherapeutics
IOVA
$2.23B
$15.9M 4.2%
580,000
+230,000
+66% +$7.56M
MRSN
8
DELISTED
Mersana Therapeutics
MRSN
$14.6M 3.86%
25,000
-55,000
-69% -$18.8M
RCKT icon
9
Rocket Pharmaceuticals
RCKT
$376M
$13.6M 3.59%
650,000
– –
MNTA
10
DELISTED
Momenta Pharmaceuticals, Inc.
MNTA
$12.8M 3.38%
385,000
-15,000
-4% -$478K
IMVT icon
11
Immunovant
IMVT
$8.27B
$12.8M 3.37%
525,000
-185,000
-26% -$3.96M
QQQ icon
12
PUT
Invesco QQQ Trust
QQQ
$466B
$12.4M 3.26%
50,000
-124,200
-71% -$27.8M
TRIL
13
DELISTED
Trillium Therapeutics Inc.
TRIL
$12.3M 3.25%
1,525,000
+700,000
+85% +$4.33M
TGTX icon
14
TG Therapeutics
TGTX
$8.4B
$11.7M 3.08%
600,000
+400,000
+200% +$6.44M
STSA
15
DELISTED
Satsuma Pharmaceuticals, Inc. Common Stock
STSA
$9.78M 2.58%
340,000
+225,000
+196% +$5.21M
GILD icon
16
CALL
Gilead Sciences
GILD
$167B
$9.62M 2.54%
+125,000
New +$9.58M
ASND icon
17
Ascendis Pharma A/S
ASND
$17.1B
$9.61M 2.54%
65,000
-85,000
-57% -$11.7M
BCRX icon
18
BioCryst Pharmaceuticals
BCRX
$2.36B
$9.05M 2.39%
1,900,000
-100,000
-5% -$399K
AUPH icon
19
Aurinia Pharmaceuticals
AUPH
$2.05B
$8.94M 2.36%
550,000
+150,000
+38% +$2.4M
AXSM icon
20
Axsome Therapeutics
AXSM
$11.8B
$8.23M 2.17%
100,000
-115,000
-53% -$8.85M
ACAD icon
21
Acadia Pharmaceuticals
ACAD
$4.38B
$8M 2.11%
+165,000
New +$7.92M
RETA
22
DELISTED
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
$7.8M 2.06%
50,000
– –
AVDL
23
DELISTED
Avadel Pharmaceuticals
AVDL
$6.67M 1.76%
825,000
+475,000
+136% +$4.19M
MYOV
24
DELISTED
Myovant Sciences Ltd.
MYOV
$6.19M 1.63%
300,000
-285,000
-49% -$3.88M
AGIO icon
25
Agios Pharmaceuticals
AGIO
$2.36B
$6.15M 1.62%
+115,000
New +$5.32M
1
2 3

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Ghost Tree Capital's Q2 2020 Portfolio in Review

As of Q2 2020, Ghost Tree Capital held 57 positions worth $379M, up 0.53% from $377M the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Ghost Tree Capital withdrew a net $143M in Q2 2020, closing 14 positions and reducing 18 holdings. Its most notable exit was Verastem, an estimated $3.96M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 71% of assets, up from 54% a quarter earlier.

Against the trend, Ghost Tree Capital opened a new position in Acadia Pharmaceuticals worth $8M.

  • Ghost Tree Capital's largest Q2 2020 buy was Acadia Pharmaceuticals: 165,000 shares worth $8M.
  • Ghost Tree Capital added most to Iovance Biotherapeutics in Q2 2020, an estimated $7.56M increase.
  • Ghost Tree Capital's biggest Q2 2020 reduction was Mersana Therapeutics, cutting an estimated $18.8M.
  • Ghost Tree Capital fully exited Verastem in Q2 2020, selling an estimated $3.96M.
  • Ghost Tree Capital's ten largest holdings make up 49% of its $379M portfolio in Q2 2020.
  • Ghost Tree Capital opened 10 new positions and closed 14 in Q2 2020.
  • Ghost Tree Capital's portfolio value rose 0.53% quarter-over-quarter to $379M.

Based on Ghost Tree Capital's 13F filing for Q2 2020, filed 14 Aug 2020.