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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
+16.37%
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
$441M
AUM Growth
+$26.2M
Cap. Flow
+$45.7M
Cap. Flow %
10.38%
Top 10 Hldgs %
36.84%
Holding
138
New
52
Increased
12
Reduced
20
Closed
21

Top Buys

Rank Stock Value
1
MRK icon
Merck
MRK
+$10.8M
2
INSM icon
Insmed
INSM
+$9.42M
3
BBIO icon
BridgeBio Pharma
BBIO
+$6.93M
4
APLS
Apellis Pharmaceuticals
APLS
+$5.77M
5
BCYC
Bicycle Therapeutics
BCYC
+$5.19M

Top Sells

Rank Stock Value
1
RXDX
Prometheus Biosciences, Inc. Common Stock
RXDX
+$18.8M
2
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
+$10.2M
3
CLDX icon
Celldex Therapeutics
CLDX
+$6.97M
4
BHVN icon
Biohaven
BHVN
+$6.93M
5
ETNB
89bio
ETNB
+$5.78M

Sector Composition

Rank Sector Weight
1 Healthcare 53.48%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ETNB
126
DELISTED
89bio
ETNB
– –
-454,000
Closed -$5.78M
GERN icon
127
CALL
Geron
GERN
$828M
– –
-650,000
Closed -$1.57M
GERN icon
128
PUT
Geron
GERN
$828M
– –
-150,000
Closed -$363K
MDGL icon
129
PUT
Madrigal Pharmaceuticals
MDGL
$10.8B
– –
-300,000
Closed -$87.1M
PRAX icon
130
Praxis Precision Medicines
PRAX
$8.58B
– –
-10,000
Closed -$357K
RCUS icon
131
PUT
Arcus Biosciences
RCUS
$3.55B
– –
-283,100
Closed -$5.85M
VRNA
132
CALL
DELISTED
Verona Pharma
VRNA
– –
-200,000
Closed -$5.23M
XBI icon
133
CALL
State Street SPDR S&P Biotech ETF
XBI
$9.95B
– –
-100,000
Closed -$8.3M
SGEN
134
DELISTED
Seagen Inc. Common Stock
SGEN
– –
-25,000
Closed -$3.21M
RETA
135
PUT
DELISTED
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
– –
-201,200
Closed -$7.64M
RXDX
136
CALL
DELISTED
Prometheus Biosciences, Inc. Common Stock
RXDX
– –
-100,000
Closed -$11M
TCDA
137
CALL
DELISTED
Tricida, Inc. Common Stock
TCDA
– –
-145,700
Closed -$22.3K
HZNP
138
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
– –
-89,219
Closed -$10.2M
2 3 4 5
6

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Ikarian Capital's Q1 2023 Portfolio in Review

As of Q1 2023, Ikarian Capital held 138 positions worth $441M, up 6.3% from $415M the previous quarter. Its ten largest holdings account for 37% of the portfolio.

Ikarian Capital deployed $45.7M of net new capital in Q1 2023, opening 52 new positions and adding to 12 existing holdings. Its largest new stake was Merck: 100,000 shares worth $10.6M.

By sector, the portfolio is most concentrated in Healthcare at 53% of assets, down from 58% a quarter earlier.

On the sell side, the largest reduction was Prometheus Biosciences, Inc. Common Stock, an estimated $18.8M trimmed.

  • Ikarian Capital's largest Q1 2023 buy was Merck: 100,000 shares worth $10.6M.
  • Ikarian Capital added most to Altimmune in Q1 2023, an estimated $4.8M increase.
  • Ikarian Capital's biggest Q1 2023 reduction was Prometheus Biosciences, Inc. Common Stock, cutting an estimated $18.8M.
  • Ikarian Capital fully exited Horizon Therapeutics Public Limited Company Ordinary Shares in Q1 2023, selling an estimated $10.2M.
  • Ikarian Capital's ten largest holdings make up 37% of its $441M portfolio in Q1 2023.
  • Ikarian Capital opened 52 new positions and closed 21 in Q1 2023.
  • Ikarian Capital's portfolio value rose 6.3% quarter-over-quarter to $441M.

Based on Ikarian Capital's 13F filing for Q1 2023, filed 15 May 2023.