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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
ABOS icon
51
Acumen Pharmaceuticals
ABOS
$152M
$3.15M 0.5%
654,945
+400,000
+157% +$1.91M
NVAX icon
52
CALL
Novavax
NVAX
$1.21B
$2.97M 0.47%
+400,000
New +$3.15M
NVAX icon
53
PUT
Novavax
NVAX
$1.21B
$2.97M 0.47%
+400,000
New +$3.15M
TERN
54
DELISTED
Terns Pharmaceuticals
TERN
$2.76M 0.44%
315,480
-405,861
-56% -$4.73M
BDTX icon
55
Black Diamond Therapeutics
BDTX
$95.1M
$2.75M 0.44%
+545,103
New +$1.11M
BBIO icon
56
PUT
BridgeBio Pharma
BBIO
$16.4B
$2.58M 0.41%
+150,000
New +$2.26M
SRPT icon
57
CALL
Sarepta Therapeutics
SRPT
$1.64B
$2.53M 0.4%
22,100
-183,300
-89% -$23.6M
DCPH
58
DELISTED
Deciphera Pharmaceuticals, Inc. Common Stock
DCPH
$2.46M 0.39%
174,510
– –
ESPR
59
DELISTED
Esperion Therapeutics
ESPR
$2.37M 0.38%
1,705,605
+350,000
+26% +$489K
STOK icon
60
CALL
Stoke Therapeutics
STOK
$1.84B
$2.29M 0.36%
+215,200
New +$2.29M
ROIV icon
61
Roivant Sciences
ROIV
$23.6B
$2.27M 0.36%
225,000
-350,000
-61% -$3.13M
SLRN
62
CALL
DELISTED
ACELYRIN
SLRN
$2.09M 0.33%
+100,000
New +$2.05M
ACRS icon
63
Aclaris Therapeutics
ACRS
$715M
$2.08M 0.33%
200,163
-100,000
-33% -$905K
KZR
64
DELISTED
Kezar Life Sciences
KZR
$2.06M 0.33%
84,160
– –
DICE
65
PUT
DELISTED
DICE Therapeutics, Inc. Common Stock
DICE
$2.03M 0.32%
+43,600
New +$1.51M
BIVI icon
66
BioVie
BIVI
$9.5M
$1.93M 0.31%
4,486
+1,000
+29% +$674K
ICPT
67
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
$1.77M 0.28%
160,200
+75,000
+88% +$1.04M
QURE icon
68
CALL
uniQure
QURE
$2.75B
$1.77M 0.28%
+154,400
New +$2.93M
TERN
69
CALL
DELISTED
Terns Pharmaceuticals
TERN
$1.75M 0.28%
+200,000
New +$2.33M
ELEV
70
DELISTED
Elevation Oncology
ELEV
$1.75M 0.28%
+1,149,490
New +$3.03M
LEGN icon
71
Legend Biotech
LEGN
$3.65B
$1.73M 0.27%
+25,000
New +$1.63M
MRUS
72
DELISTED
Merus
MRUS
$1.66M 0.26%
63,125
-145,525
-70% -$3.19M
IMUX icon
73
Immunic
IMUX
$178M
$1.63M 0.26%
65,000
– –
JSPR icon
74
Jasper Therapeutics
JSPR
$20M
$1.54M 0.25%
112,509
-120
-0.1% -$1.78K
SCPH
75
DELISTED
scPharmaceuticals
SCPH
$1.53M 0.24%
+150,000
New +$1.57M
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.