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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
+39.15%
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
$831M
AUM Growth
+$203M
Cap. Flow
-$333M
Cap. Flow %
-40.1%
Top 10 Hldgs %
41.06%
Holding
181
New
59
Increased
25
Reduced
46
Closed
41

Top Buys

Rank Stock Value
1
RCKT icon
Rocket Pharmaceuticals
RCKT
+$11.9M
2
AKRO
Akero Therapeutics
AKRO
+$9.31M
3
TARS icon
Tarsus Pharmaceuticals
TARS
+$9.18M
4
CPRX
Catalyst Pharmaceutical
CPRX
+$6.77M
5
IMVT icon
Immunovant
IMVT
+$6.73M

Top Sells

Rank Stock Value
1
MRK icon
Merck
MRK
+$11.5M
2
INSM icon
Insmed
INSM
+$7.55M
3
IDYA icon
IDEAYA Biosciences
IDYA
+$6.95M
4
BHVN icon
Biohaven
BHVN
+$6.68M
5
BMEA icon
Biomea Fusion
BMEA
+$6.06M

Sector Composition

Rank Sector Weight
1 Healthcare 31.68%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RLMD icon
126
Relmada Therapeutics
RLMD
$557M
$121K 0.01%
40,369
-25,122
-38% -$74.6K
FHTX icon
127
Foghorn Therapeutics
FHTX
$266M
$76.5K 0.01%
15,292
+292
+2% +$2.25K
OCUL icon
128
Ocular Therapeutix
OCUL
$1.79B
$67.8K 0.01%
21,590
-78,410
-78% -$321K
SNDX icon
129
Syndax Pharmaceuticals
SNDX
$1.69B
$58.1K 0.01%
+4,000
New +$75.7K
SYBX
130
DELISTED
Synlogic
SYBX
$57.5K 0.01%
20,448
-2
-0% -$14
STOK icon
131
Stoke Therapeutics
STOK
$1.8B
$47.7K 0.01%
12,116
-58,274
-83% -$383K
XENE icon
132
PUT
Xenon Pharmaceuticals
XENE
$6.06B
$37.6K ﹤0.01%
+11
New +$411
FNCH
133
DELISTED
Finch Therapeutics Group, Inc. Common Stock
FNCH
$35.1K ﹤0.01%
6,892
-1,025
-13% -$7.39K
MORF
134
CALL
DELISTED
Morphic Holding, Inc. Common Stock
MORF
$32.1K ﹤0.01%
+14
New +$735
ROIV icon
135
Roivant Sciences
ROIV
$24.5B
$21.3K ﹤0.01%
1,821
-223,179
-99% -$2.52M
BCLI
136
DELISTED
BRAINSTORM CELL THERAPUTC
BCLI
$18.1K ﹤0.01%
6,016
-6,646
-52% -$151K
ASLN
137
DELISTED
ASLAN Pharmaceuticals Limited American Depositary Shares
ASLN
$6.21K ﹤0.01%
4,428
-16,083
-78% -$295K
INSM icon
138
CALL
Insmed
INSM
$21.4B
$5.05K ﹤0.01%
2
-199,998
-100% -$4.57M
KYNB
139
Kyntra Bio
KYNB
$27.2M
$2.39K ﹤0.01%
111
-9,026
-99% -$354K
PHXM
140
DELISTED
PHAXIAM Therapeutics S.A.. American Depositary Shares
PHXM
$1.56K ﹤0.01%
301
-1
-0.3% -$6
ACRS icon
141
Aclaris Therapeutics
ACRS
$726M
– –
-200,163
Closed -$1.71M
APLS
142
DELISTED
Apellis Pharmaceuticals
APLS
– –
-133,800
Closed -$5.88M
ARDX icon
143
Ardelyx
ARDX
$1.22B
– –
-278,825
Closed -$945K
ARGX icon
144
CALL
argenx
ARGX
$53.4B
– –
-38,000
Closed -$14.8M
ARGX icon
145
PUT
argenx
ARGX
$53.4B
– –
-132,100
Closed -$51.5M
ARWR icon
146
Arrowhead Research
ARWR
$11.9B
– –
-130,000
Closed -$4.64M
ASND icon
147
Ascendis Pharma A/S
ASND
$16B
– –
-2,090
Closed -$187K
AZN icon
148
CALL
AstraZeneca
AZN
$263B
– –
-125,000
Closed -$17.9M
BBIO icon
149
PUT
BridgeBio Pharma
BBIO
$15.7B
– –
-150,000
Closed -$2.58M
BCYC
150
Bicycle Therapeutics
BCYC
$269M
– –
-203,037
Closed -$5.18M
4 5
6
7 8

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Ikarian Capital's Q3 2023 Portfolio in Review

As of Q3 2023, Ikarian Capital held 181 positions worth $831M, up 32% from $628M the previous quarter. Its ten largest holdings account for 41% of the portfolio.

Ikarian Capital withdrew a net $333M in Q3 2023, closing 41 positions and reducing 46 holdings. Its most notable exit was Merck, an estimated $11.5M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 32% of assets, down from 44% a quarter earlier.

Against the trend, Ikarian Capital opened a new position in Rocket Pharmaceuticals worth $13.4M.

  • Ikarian Capital's largest Q3 2023 buy was Rocket Pharmaceuticals: 654,726 shares worth $13.4M.
  • Ikarian Capital added most to Crinetics Pharmaceuticals in Q3 2023, an estimated $6.55M increase.
  • Ikarian Capital's biggest Q3 2023 reduction was Insmed, cutting an estimated $7.55M.
  • Ikarian Capital fully exited Merck in Q3 2023, selling an estimated $11.5M.
  • Ikarian Capital's ten largest holdings make up 41% of its $831M portfolio in Q3 2023.
  • Ikarian Capital opened 59 new positions and closed 41 in Q3 2023.
  • Ikarian Capital's portfolio value rose 32% quarter-over-quarter to $831M.

Based on Ikarian Capital's 13F filing for Q3 2023, filed 14 Nov 2023.