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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
AKRO
126
DELISTED
Akero Therapeutics
AKRO
– –
-50,000
Closed -$1.91M
ALT icon
127
CALL
Altimmune
ALT
$580M
– –
-898,600
Closed -$3.79M
ALT icon
128
Altimmune
ALT
$580M
– –
-677,300
Closed -$2.86M
ALT icon
129
PUT
Altimmune
ALT
$580M
– –
-1,077,200
Closed -$4.55M
AMLX icon
130
CALL
Amylyx Pharmaceuticals
AMLX
$2.31B
– –
-150,000
Closed -$4.4M
AMLX icon
131
Amylyx Pharmaceuticals
AMLX
$2.31B
– –
-10,000
Closed -$293K
ARKG icon
132
ARK Genomic Revolution ETF
ARKG
$1.6B
– –
-46,462
Closed -$1.4M
ARKK icon
133
ARK Innovation ETF
ARKK
$5.77B
– –
-4,519
Closed -$182K
JBIO
134
Jade Biosciences
JBIO
$1.22B
– –
-5,576
Closed -$3.94M
AXSM icon
135
CALL
Axsome Therapeutics
AXSM
$12.1B
– –
-150,000
Closed -$9.25M
AXSM icon
136
PUT
Axsome Therapeutics
AXSM
$12.1B
– –
-150,000
Closed -$9.25M
BCYC
137
CALL
Bicycle Therapeutics
BCYC
$280M
– –
-200,000
Closed -$4.25M
BIIB icon
138
Biogen
BIIB
$30.7B
– –
-962
Closed -$267K
BMRN icon
139
BioMarin Pharmaceuticals
BMRN
$11.7B
– –
-50,000
Closed -$4.71M
BTAI icon
140
CALL
BioXcel Therapeutics
BTAI
$24.5M
– –
-4,450
Closed -$1.33M
BTAI icon
141
BioXcel Therapeutics
BTAI
$24.5M
– –
-8,313
Closed -$2.48M
CLDX icon
142
Celldex Therapeutics
CLDX
$3.02B
– –
-106,057
Closed -$3.82M
CLDX icon
143
PUT
Celldex Therapeutics
CLDX
$3.02B
– –
-110,000
Closed -$3.96M
BGMS
144
Bio Green Med Solution Inc
BGMS
$5.04M
– –
-76
Closed -$11K
CYTK icon
145
Cytokinetics
CYTK
$10.9B
– –
-55,666
Closed -$1.96M
DCTH icon
146
Delcath Systems
DCTH
$416M
– –
-360,569
Closed -$1.08M
GNFT
147
DELISTED
Genfit
GNFT
– –
-32,786
Closed -$132K
GOSS icon
148
Gossamer Bio
GOSS
$87.2M
– –
-6,100
Closed -$7.69K
IMVT icon
149
Immunovant
IMVT
$8.11B
– –
-774,398
Closed -$14.4M
IVA
150
Inventiva
IVA
$1.09B
– –
-292,599
Closed -$999K
3 4 5
6
7

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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.