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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
+32.57%
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
$628M
AUM Growth
+$187M
Cap. Flow
+$205M
Cap. Flow %
32.59%
Top 10 Hldgs %
40.48%
Holding
169
New
52
Increased
19
Reduced
22
Closed
47

Top Buys

Rank Stock Value
1
SLRN
ACELYRIN
SLRN
+$59.7M
2
NUVL
Nuvalent
NUVL
+$10.3M
3
IDYA icon
IDEAYA Biosciences
IDYA
+$10.1M
4
CRNX icon
Crinetics Pharmaceuticals
CRNX
+$9.47M
5
IRON icon
Disc Medicine
IRON
+$8.52M

Top Sells

Rank Stock Value
1
IMVT icon
Immunovant
IMVT
+$14.4M
2
RXDX
Prometheus Biosciences, Inc. Common Stock
RXDX
+$13.5M
3
RETA
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
+$7.11M
4
BLU
BELLUS Health Inc.
BLU
+$6.37M
5
ISEE
IVERIC bio, Inc. Common Stock
ISEE
+$5.19M

Sector Composition

Rank Sector Weight
1 Healthcare 44.09%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
REPL icon
26
PUT
Replimune Group
REPL
$449M
$8.09M 1.29%
+348,200
New +$6.8M
BBIO icon
27
BridgeBio Pharma
BBIO
$16.8B
$7.39M 1.18%
429,686
-165,000
-28% -$2.48M
PCVX icon
28
Vaxcyte
PCVX
$7.88B
$6.99M 1.11%
140,000
-85,000
-38% -$4.03M
MRNS
29
DELISTED
Marinus Pharmaceuticals, Inc
MRNS
$6.65M 1.06%
+611,932
New +$5.24M
IMGN
30
CALL
DELISTED
Immunogen Inc
IMGN
$6.6M 1.05%
350,000
+243,400
+228% +$2.87M
BMEA icon
31
PUT
Biomea Fusion
BMEA
$90.4M
$6.29M 1%
286,700
+246,700
+617% +$7.72M
IMVT icon
32
CALL
Immunovant
IMVT
$7.99B
$6.19M 0.99%
326,200
+165,900
+103% +$3.09M
BMEA icon
33
Biomea Fusion
BMEA
$90.4M
$6.06M 0.96%
275,875
+64,900
+31% +$2.03M
PTGX icon
34
PUT
Protagonist Therapeutics
PTGX
$8.8B
$5.84M 0.93%
211,400
– –
RCUS icon
35
Arcus Biosciences
RCUS
$3.4B
$5.69M 0.91%
280,000
+50,000
+22% +$952K
RARE icon
36
Ultragenyx Pharmaceutical
RARE
$2.56B
$5.61M 0.89%
+121,658
New +$5.64M
PTGX icon
37
CALL
Protagonist Therapeutics
PTGX
$8.8B
$5.52M 0.88%
200,000
-11,400
-5% -$285K
BHVN icon
38
CALL
Biohaven
BHVN
$2.07B
$5.38M 0.86%
225,000
+179,800
+398% +$3.1M
REPL icon
39
CALL
Replimune Group
REPL
$449M
$5.3M 0.84%
+228,300
New +$4.46M
XENE icon
40
Xenon Pharmaceuticals
XENE
$6.28B
$5.22M 0.83%
135,486
-25,000
-16% -$994K
BCYC
41
Bicycle Therapeutics
BCYC
$275M
$5.18M 0.83%
203,037
-4,075
-2% -$94.7K
ATXS
42
DELISTED
Astria Therapeutics
ATXS
$4.83M 0.77%
579,390
-290,000
-33% -$3.35M
LEGN icon
43
CALL
Legend Biotech
LEGN
$3.68B
$4.75M 0.76%
+68,800
New +$4.5M
ARWR icon
44
Arrowhead Research
ARWR
$12.1B
$4.64M 0.74%
+130,000
New +$4.48M
INSM icon
45
CALL
Insmed
INSM
$22.6B
$4.22M 0.67%
200,000
– –
RCUS icon
46
CALL
Arcus Biosciences
RCUS
$3.4B
$4.06M 0.65%
+200,000
New +$3.81M
LYRA
47
DELISTED
LYRA THERAPEUTICS INC
LYRA
$4.02M 0.64%
19,573
+12,699
+185% +$1.76M
LBPH
48
DELISTED
Longboard Pharmaceuticals, Inc. Common Stock
LBPH
$3.7M 0.59%
+504,253
New +$3.82M
VYGR icon
49
Voyager Therapeutics
VYGR
$184M
$3.44M 0.55%
+300,000
New +$3.1M
ALLK
50
DELISTED
Allakos
ALLK
$3.37M 0.54%
+772,092
New +$3.47M
1
2
3 4 5

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Ikarian Capital's Q2 2023 Portfolio in Review

As of Q2 2023, Ikarian Capital held 169 positions worth $628M, up 42% from $441M the previous quarter. Its ten largest holdings account for 40% of the portfolio.

Ikarian Capital deployed $205M of net new capital in Q2 2023, opening 52 new positions and adding to 19 existing holdings. Its largest new stake was ACELYRIN: 2,918,426 shares worth $61M.

By sector, the portfolio is most concentrated in Healthcare at 44% of assets, down from 53% a quarter earlier.

On the sell side, the largest reduction was Reata Pharmaceuticals, Inc. Class A Common Stock, an estimated $7.11M trimmed.

  • Ikarian Capital's largest Q2 2023 buy was ACELYRIN: 2,918,426 shares worth $61M.
  • Ikarian Capital added most to Apellis Pharmaceuticals in Q2 2023, an estimated $2.92M increase.
  • Ikarian Capital's biggest Q2 2023 reduction was Reata Pharmaceuticals, Inc. Class A Common Stock, cutting an estimated $7.11M.
  • Ikarian Capital fully exited Immunovant in Q2 2023, selling an estimated $14.4M.
  • Ikarian Capital's ten largest holdings make up 40% of its $628M portfolio in Q2 2023.
  • Ikarian Capital opened 52 new positions and closed 47 in Q2 2023.
  • Ikarian Capital's portfolio value rose 42% quarter-over-quarter to $628M.

Based on Ikarian Capital's 13F filing for Q2 2023, filed 14 Aug 2023.