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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
+6.82%
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
$671M
AUM Growth
-$749M
Cap. Flow
-$596M
Cap. Flow %
-88.74%
Top 10 Hldgs %
41.79%
Holding
248
New
39
Increased
16
Reduced
53
Closed
62

Top Buys

Rank Stock Value
1
KZR
Kezar Life Sciences
KZR
+$11.5M
2
ZNTL icon
Zentalis Pharmaceuticals
ZNTL
+$7.64M
3
CLDX icon
Celldex Therapeutics
CLDX
+$6.48M
4
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
+$5.45M
5
GBT
Global Blood Therapeutics, Inc.
GBT
+$5.08M

Top Sells

Rank Stock Value
1
APLS
Apellis Pharmaceuticals
APLS
+$13.7M
2
ITCI
Intra-Cellular Therapies Inc.
ITCI
+$7.89M
3
CMPS
Compass Pathways
CMPS
+$6.85M
4
XENE icon
Xenon Pharmaceuticals
XENE
+$5.93M
5
BCAB icon
BioAtla
BCAB
+$5.78M

Sector Composition

Rank Sector Weight
1 Healthcare 50.73%
2 Consumer Staples 0.3%
3 Technology 0.3%
4 Financials 0.11%
5 Real Estate 0.06%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LRMR icon
126
Larimar Therapeutics
LRMR
$397M
$510K 0.08%
47,193
– –
RFL icon
127
PUT
Rafael Holdings
RFL
$101M
$510K 0.08%
101,400
-318,193
-76% -$4.28M
ASMB icon
128
Assembly Biosciences
ASMB
$498M
$501K 0.07%
17,905
– –
KALV
129
DELISTED
KalVista Pharmaceuticals
KALV
$484K 0.07%
36,576
-60,000
-62% -$955K
ATXS
130
DELISTED
Astria Therapeutics
ATXS
$473K 0.07%
87,580
– –
RLMD icon
131
Relmada Therapeutics
RLMD
$557M
$467K 0.07%
20,743
– –
ONCT
132
DELISTED
Oncternal Therapeutics, Inc. Common Stock
ONCT
$451K 0.07%
9,959
– –
IRD
133
Opus Genetics
IRD
$306M
$442K 0.07%
118,063
– –
OTIC
134
DELISTED
Otonomy, Inc.
OTIC
$433K 0.06%
208,306
– –
PASG icon
135
Passage Bio
PASG
$14.4M
$431K 0.06%
3,392
– –
GYRE icon
136
Gyre Therapeutics
GYRE
$641M
$416K 0.06%
60,579
– –
BLU
137
DELISTED
BELLUS Health Inc.
BLU
$402K 0.06%
50,000
-694,616
-93% -$4.61M
SEEL
138
DELISTED
Seelos Therapeutics, Inc. Common Stock
SEEL
$398K 0.06%
64
– –
MITO
139
DELISTED
Stealth BioTherapeutics Corp. ADS
MITO
$397K 0.06%
478,561
– –
HYFT
140
MindWalk Holdings
HYFT
$60.6M
$395K 0.06%
73,882
– –
RGLS
141
DELISTED
Regulus Therapeutics
RGLS
$388K 0.06%
122,842
– –
BGMS
142
Bio Green Med Solution Inc
BGMS
$4.91M
$385K 0.06%
28
– –
ENVB icon
143
Enveric Biosciences
ENVB
$6.32M
$372K 0.06%
+44
New +$618K
RFL icon
144
Rafael Holdings
RFL
$101M
$370K 0.06%
+73,530
New +$989K
ALLK
145
PUT
DELISTED
Allakos
ALLK
$366K 0.05%
37,400
– –
AGEN
146
Agenus
AGEN
$312M
$332K 0.05%
5,258
– –
DRUG
147
Bright Minds Biosciences
DRUG
$719M
$317K 0.05%
+20,000
New +$445K
TPST icon
148
Tempest Therapeutics
TPST
$13.7M
$310K 0.05%
4,523
– –
MREO
149
Mereo BioPharma
MREO
$54.7M
$307K 0.05%
853,680
-50,000
-6% -$100K
DCPH
150
CALL
DELISTED
Deciphera Pharmaceuticals, Inc. Common Stock
DCPH
$291K 0.04%
29,800
– –
4 5
6
7 8

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Ikarian Capital's Q4 2021 Portfolio in Review

As of Q4 2021, Ikarian Capital held 248 positions worth $671M, down 53% from $1.42B the previous quarter. Its ten largest holdings account for 42% of the portfolio.

Ikarian Capital withdrew a net $596M in Q4 2021, closing 62 positions and reducing 53 holdings. Its most notable exit was Apellis Pharmaceuticals, an estimated $13.7M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 51% of assets, up from 30% a quarter earlier, followed by Consumer Staples and Technology.

Against the trend, Ikarian Capital opened a new position in Kezar Life Sciences worth $17.1M.

  • Ikarian Capital's largest Q4 2021 buy was Kezar Life Sciences: 102,092 shares worth $17.1M.
  • Ikarian Capital added most to Zentalis Pharmaceuticals in Q4 2021, an estimated $7.64M increase.
  • Ikarian Capital's biggest Q4 2021 reduction was Xenon Pharmaceuticals, cutting an estimated $5.93M.
  • Ikarian Capital fully exited Apellis Pharmaceuticals in Q4 2021, selling an estimated $13.7M.
  • Ikarian Capital's ten largest holdings make up 42% of its $671M portfolio in Q4 2021.
  • Ikarian Capital opened 39 new positions and closed 62 in Q4 2021.
  • Ikarian Capital's portfolio value fell 53% quarter-over-quarter to $671M.

Based on Ikarian Capital's 13F filing for Q4 2021, filed 14 Feb 2022.