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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
+64.75%
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
$415M
AUM Growth
-$87.3M
Cap. Flow
-$197M
Cap. Flow %
-47.49%
Top 10 Hldgs %
52.5%
Holding
125
New
21
Increased
12
Reduced
28
Closed
39

Top Buys

Rank Stock Value
1
BHVN icon
Biohaven
BHVN
+$11.8M
2
PCVX icon
Vaxcyte
PCVX
+$9.81M
3
MRTX
Mirati Therapeutics, Inc. Common Stock
MRTX
+$7M
4
RCUS icon
Arcus Biosciences
RCUS
+$3.8M
5
BTAI icon
BioXcel Therapeutics
BTAI
+$3.78M

Top Sells

Rank Stock Value
1
ISEE
IVERIC bio, Inc. Common Stock
ISEE
+$12.8M
2
CERE
Cerevel Therapeutics Holdings, Inc. Common Stock
CERE
+$5.03M
3
GOSS icon
Gossamer Bio
GOSS
+$4.98M
4
SAGE
Sage Therapeutics
SAGE
+$3.44M
5
SCPH
scPharmaceuticals
SCPH
+$3.13M

Sector Composition

Rank Sector Weight
1 Healthcare 57.79%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PRTA icon
101
CALL
Prothena Corp
PRTA
$425M
– –
-66,800
Closed -$4.05M
RLMD icon
102
CALL
Relmada Therapeutics
RLMD
$557M
– –
-775,300
Closed -$28.7M
RLMD icon
103
PUT
Relmada Therapeutics
RLMD
$557M
– –
-775,300
Closed -$28.7M
SCPH
104
DELISTED
scPharmaceuticals
SCPH
– –
-479,383
Closed -$3.13M
SPY icon
105
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$790B
– –
-60,000
Closed -$21.4M
SRPT icon
106
CALL
Sarepta Therapeutics
SRPT
$1.57B
– –
-85,200
Closed -$9.42M
STOK icon
107
PUT
Stoke Therapeutics
STOK
$1.8B
– –
-368,700
Closed -$4.73M
RVNC
108
DELISTED
Revance Therapeutics, Inc.
RVNC
– –
-100,000
Closed -$2.7M
CERE
109
DELISTED
Cerevel Therapeutics Holdings, Inc. Common Stock
CERE
– –
-178,100
Closed -$5.03M
DCPH
110
CALL
DELISTED
Deciphera Pharmaceuticals, Inc. Common Stock
DCPH
– –
-122,600
Closed -$2.27M
SGEN
111
CALL
DELISTED
Seagen Inc. Common Stock
SGEN
– –
-150,000
Closed -$20.5M
RETA
112
CALL
DELISTED
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
– –
-138,100
Closed -$3.47M
RETA
113
DELISTED
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
– –
-4,064
Closed -$140K
KDNY
114
DELISTED
Chinook Therapeutics, Inc. Common Stock
KDNY
$0 ﹤0.01%
283,464
– –
DICE
115
CALL
DELISTED
DICE Therapeutics, Inc. Common Stock
DICE
– –
-748,900
Closed -$15.2M
DICE
116
PUT
DELISTED
DICE Therapeutics, Inc. Common Stock
DICE
– –
-504,100
Closed -$10.2M
ISEE
117
CALL
DELISTED
IVERIC bio, Inc. Common Stock
ISEE
– –
-437,900
Closed -$7.86M
BLU
118
CALL
DELISTED
BELLUS Health Inc.
BLU
– –
-85,200
Closed -$900K
STSA
119
CALL
DELISTED
Satsuma Pharmaceuticals, Inc. Common Stock
STSA
– –
-400,000
Closed -$2.4M
CINC
120
DELISTED
CinCor Pharma, Inc. Common Stock
CINC
– –
-45,100
Closed -$1.48M
TCDA
121
PUT
DELISTED
Tricida, Inc. Common Stock
TCDA
– –
-727,900
Closed -$7.63M
CLVS
122
DELISTED
Clovis Oncology, Inc.
CLVS
– –
-361,518
Closed -$430K
RCOR
123
DELISTED
Renovacor, Inc.
RCOR
– –
-288,119
Closed -$725K
MITO
124
DELISTED
Stealth BioTherapeutics Corp. ADS
MITO
– –
-435,516
Closed -$134K
HZNP
125
CALL
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
– –
-85,100
Closed -$5.27M
1 2 3 4
5

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Ikarian Capital's Q4 2022 Portfolio in Review

As of Q4 2022, Ikarian Capital held 125 positions worth $415M, down 17% from $502M the previous quarter. Its ten largest holdings account for 53% of the portfolio.

Ikarian Capital withdrew a net $197M in Q4 2022, closing 39 positions and reducing 28 holdings. Its most notable exit was Cerevel Therapeutics Holdings, Inc. Common Stock, an estimated $5.03M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 58% of assets, up from 39% a quarter earlier.

Against the trend, Ikarian Capital opened a new position in Biohaven worth $11.6M.

  • Ikarian Capital's largest Q4 2022 buy was Biohaven: 837,500 shares worth $11.6M.
  • Ikarian Capital added most to Prometheus Biosciences, Inc. Common Stock in Q4 2022, an estimated $3.74M increase.
  • Ikarian Capital's biggest Q4 2022 reduction was IVERIC bio, Inc. Common Stock, cutting an estimated $12.8M.
  • Ikarian Capital fully exited Cerevel Therapeutics Holdings, Inc. Common Stock in Q4 2022, selling an estimated $5.03M.
  • Ikarian Capital's ten largest holdings make up 53% of its $415M portfolio in Q4 2022.
  • Ikarian Capital opened 21 new positions and closed 39 in Q4 2022.
  • Ikarian Capital's portfolio value fell 17% quarter-over-quarter to $415M.

Based on Ikarian Capital's 13F filing for Q4 2022, filed 14 Feb 2023.