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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
CRBP icon
76
Corbus Pharmaceuticals
CRBP
$165M
$1.51M 0.24%
192,260
– –
IMVT icon
77
PUT
Immunovant
IMVT
$7.93B
$1.44M 0.23%
+76,000
New +$1.42M
BLUE
78
DELISTED
bluebird bio
BLUE
$1.36M 0.22%
20,631
– –
MIST icon
79
Milestone Pharmaceuticals
MIST
$129M
$1.31M 0.21%
460,416
– –
KALV
80
DELISTED
KalVista Pharmaceuticals
KALV
$1.26M 0.2%
140,000
– –
KRYS icon
81
PUT
Krystal Biotech
KRYS
$10.7B
$1.21M 0.19%
10,300
– –
KYNB
82
CALL
Kyntra Bio
KYNB
$27.4M
$1.08M 0.17%
+16,000
New +$6.62M
KYNB
83
PUT
Kyntra Bio
KYNB
$27.4M
$1.02M 0.16%
+15,172
New +$6.27M
OKUR
84
OnKure Therapeutics
OKUR
$160M
$1.02M 0.16%
15,582
– –
PTGX icon
85
Protagonist Therapeutics
PTGX
$8.55B
$967K 0.15%
+35,000
New +$876K
ARDX icon
86
Ardelyx
ARDX
$1.24B
$945K 0.15%
278,825
-300,000
-52% -$1.23M
TYRA icon
87
Tyra Biosciences
TYRA
$1.85B
$820K 0.13%
48,170
– –
TCON
88
DELISTED
TRACON Pharmaceuticals, Inc. Common Stock
TCON
$805K 0.13%
138,277
– –
PRQR icon
89
ProQR Therapeutics
PRQR
$244M
$766K 0.12%
472,625
– –
STOK icon
90
Stoke Therapeutics
STOK
$1.84B
$748K 0.12%
+70,390
New +$749K
COGT icon
91
Cogent Biosciences
COGT
$6.76B
$743K 0.12%
62,766
– –
KPTI icon
92
Karyopharm Therapeutics
KPTI
$155M
$716K 0.11%
26,667
+6,667
+33% +$287K
XFOR icon
93
X4 Pharmaceuticals
XFOR
$377M
$677K 0.11%
11,638
– –
AUTL
94
Autolus Therapeutics
AUTL
$389M
$619K 0.1%
260,087
– –
KYNB
95
Kyntra Bio
KYNB
$27.4M
$617K 0.1%
+9,137
New +$3.78M
IMTX icon
96
Immatics
IMTX
$1.23B
$566K 0.09%
49,031
-130,521
-73% -$1.22M
RETA
97
DELISTED
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
$558K 0.09%
5,472
-75,092
-93% -$7.11M
HOOK
98
DELISTED
HOOKIPA Pharma
HOOK
$528K 0.08%
+60,000
New +$666K
OCUL icon
99
Ocular Therapeutix
OCUL
$1.83B
$516K 0.08%
100,000
-100,000
-50% -$595K
TARA icon
100
Protara Therapeutics
TARA
$214M
$451K 0.07%
188,664
– –
2 3
4
5 6

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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.