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Ikarian Capital Portfolio holdings

AUM $1.23B
1-Year Est. Return 600.17%
This Fund
S&P 500
This Quarter Est. Return
-1.2%
1 Year Est. Return
+600.17%
3 Year Est. Return
+5,763.15%
5 Year Est. Return
+15,527.6%
10 Year Est. Return
–
AUM
$548M
AUM Growth
-$212M
Cap. Flow
-$139M
Cap. Flow %
-25.42%
Top 10 Hldgs %
37.58%
Holding
232
New
36
Increased
20
Reduced
48
Closed
92

Top Buys

Rank Stock Value
1
ESPR
Esperion Therapeutics
ESPR
+$11.6M
2
ALNY icon
Alnylam Pharmaceuticals
ALNY
+$8.51M
3
UTHR icon
United Therapeutics
UTHR
+$8.13M
4
KRTX
Karuna Therapeutics, Inc. Common Stock
KRTX
+$5.75M
5
ALT icon
Altimmune
ALT
+$5.53M

Top Sells

Rank Stock Value
1
BCYC
Bicycle Therapeutics
BCYC
+$21M
2
ZNTL icon
Zentalis Pharmaceuticals
ZNTL
+$9.33M
3
SAGE
Sage Therapeutics
SAGE
+$8.38M
4
BHVN
Biohaven Pharmaceutical Holding Company Ltd.
BHVN
+$7.11M
5
SRRA
Sierra Oncology, Inc. Common Stock
SRRA
+$6.98M

Sector Composition

Rank Sector Weight
1 Healthcare 43.2%
2 Technology 0.14%
3 Consumer Staples 0.03%
4 Financials 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SRPT icon
26
CALL
Sarepta Therapeutics
SRPT
$1.63B
$7.5M 1.37%
+100,000
New +$7.36M
XENE icon
27
Xenon Pharmaceuticals
XENE
$6.28B
$7.28M 1.33%
239,441
– –
AMLX icon
28
CALL
Amylyx Pharmaceuticals
AMLX
$2.17B
$6.76M 1.23%
350,800
+100,800
+40% +$1.2M
LNTH icon
29
CALL
Lantheus
LNTH
$6.68B
$6.6M 1.2%
+100,000
New +$6.3M
ALNY icon
30
PUT
Alnylam Pharmaceuticals
ALNY
$38.5B
$5.82M 1.06%
39,900
-77,900
-66% -$11.1M
RLMD icon
31
CALL
Relmada Therapeutics
RLMD
$549M
$5.7M 1.04%
+300,000
New +$6.54M
TCON
32
DELISTED
TRACON Pharmaceuticals, Inc. Common Stock
TCON
$5.58M 1.02%
139,443
-2,719
-2% -$105K
APLS
33
CALL
DELISTED
Apellis Pharmaceuticals
APLS
$5.57M 1.02%
123,200
-51,900
-30% -$2.37M
RLMD icon
34
PUT
Relmada Therapeutics
RLMD
$549M
$5.36M 0.98%
+282,300
New +$6.16M
BMRN icon
35
BioMarin Pharmaceuticals
BMRN
$12B
$4.97M 0.91%
60,000
+10,000
+20% +$796K
RETA
36
CALL
DELISTED
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
$4.92M 0.9%
162,000
+146,700
+959% +$4.38M
PCVX icon
37
Vaxcyte
PCVX
$7.88B
$4.92M 0.9%
225,991
-90,000
-28% -$2.08M
ICPT
38
CALL
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
$4.83M 0.88%
+350,000
New +$5.6M
LKFT
39
Lakefront Biotherapeutics American Depositary Shares
LKFT
$1.84B
$4.83M 0.88%
86,865
– –
AMLX icon
40
Amylyx Pharmaceuticals
AMLX
$2.17B
$4.75M 0.87%
246,554
-150,100
-38% -$1.78M
SCPH
41
DELISTED
scPharmaceuticals
SCPH
$4.26M 0.78%
884,008
-86,090
-9% -$426K
HRMY icon
42
Harmony Biosciences
HRMY
$2.07B
$4.2M 0.77%
+86,035
New +$3.87M
PFE icon
43
Pfizer
PFE
$144B
$4.19M 0.76%
80,000
– –
NBIX icon
44
Neurocrine Biosciences
NBIX
$18.4B
$3.76M 0.69%
+38,600
New +$3.56M
ALT icon
45
CALL
Altimmune
ALT
$581M
$3.55M 0.65%
+303,600
New +$1.87M
VRDN icon
46
CALL
Viridian Therapeutics
VRDN
$2.15B
$3.47M 0.63%
+300,000
New +$4.03M
KWEB icon
47
KraneShares CSI China Internet ETF
KWEB
$5.41B
$3.28M 0.6%
+100,000
New +$2.87M
BPMC
48
CALL
DELISTED
Blueprint Medicines
BPMC
$3.23M 0.59%
64,000
– –
GOSS icon
49
CALL
Gossamer Bio
GOSS
$100M
$2.8M 0.51%
334,500
+122,900
+58% +$952K
STSA
50
DELISTED
Satsuma Pharmaceuticals, Inc. Common Stock
STSA
$2.7M 0.49%
653,448
– –
1
2
3 4 5

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Ikarian Capital's Q2 2022 Portfolio in Review

As of Q2 2022, Ikarian Capital held 232 positions worth $548M, down 28% from $760M the previous quarter. Its ten largest holdings account for 38% of the portfolio.

Ikarian Capital withdrew a net $139M in Q2 2022, closing 92 positions and reducing 48 holdings. Its most notable exit was Bicycle Therapeutics, an estimated $21M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 43% of assets, up from 43% a quarter earlier, followed by Technology and Consumer Staples.

Against the trend, Ikarian Capital opened a new position in Esperion Therapeutics worth $13.1M.

  • Ikarian Capital's largest Q2 2022 buy was Esperion Therapeutics: 2,054,602 shares worth $13.1M.
  • Ikarian Capital added most to Alnylam Pharmaceuticals in Q2 2022, an estimated $8.51M increase.
  • Ikarian Capital's biggest Q2 2022 reduction was Adicet Bio, cutting an estimated $5M.
  • Ikarian Capital fully exited Bicycle Therapeutics in Q2 2022, selling an estimated $21M.
  • Ikarian Capital's ten largest holdings make up 38% of its $548M portfolio in Q2 2022.
  • Ikarian Capital opened 36 new positions and closed 92 in Q2 2022.
  • Ikarian Capital's portfolio value fell 28% quarter-over-quarter to $548M.

Based on Ikarian Capital's 13F filing for Q2 2022, filed 12 Aug 2022.