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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
-11.76%
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
$811M
AUM Growth
+$76.2M
Cap. Flow
+$164M
Cap. Flow %
20.18%
Top 10 Hldgs %
56%
Holding
229
New
58
Increased
27
Reduced
37
Closed
69

Top Buys

Rank Stock Value
1
PCVX icon
Vaxcyte
PCVX
+$16M
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$14.7M
3
SRPT icon
Sarepta Therapeutics
SRPT
+$14.2M
4
AKRO
Akero Therapeutics
AKRO
+$10.4M
5
PRAX icon
Praxis Precision Medicines
PRAX
+$9.09M

Top Sells

Rank Stock Value
1
SYRE icon
Spyre Therapeutics
SYRE
+$6.57M
2
TARS icon
Tarsus Pharmaceuticals
TARS
+$6.06M
3
AVTX icon
Avalo Therapeutics
AVTX
+$5.84M
4
BPMC
Blueprint Medicines
BPMC
+$5.41M
5
SRRK icon
Scholar Rock
SRRK
+$4.35M

Sector Composition

Rank Sector Weight
1 Healthcare 36.1%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TYRA icon
126
Tyra Biosciences
TYRA
$1.84B
$326K 0.04%
35,000
-25,000
-42% -$324K
CLDX icon
127
CALL
Celldex Therapeutics
CLDX
$2.93B
$323K 0.04%
+17,800
New +$398K
CLDX icon
128
PUT
Celldex Therapeutics
CLDX
$2.93B
$323K 0.04%
17,800
-187,700
-91% -$4.19M
ABOS icon
129
Acumen Pharmaceuticals
ABOS
$154M
$292K 0.04%
265,769
– –
RNAC icon
130
Cartesian Therapeutics
RNAC
$233M
$292K 0.04%
22,166
-30,000
-58% -$536K
SPRB
131
Spruce Biosciences
SPRB
$114M
$290K 0.04%
13,333
– –
ALLK
132
DELISTED
Allakos
ALLK
$267K 0.03%
1,171,950
+200,000
+21% +$90.3K
GERN icon
133
Geron
GERN
$821M
$239K 0.03%
+150,000
New +$365K
CMMB
134
Chemomab Therapeutics
CMMB
$11.6M
$232K 0.03%
53,263
– –
ACRS icon
135
Aclaris Therapeutics
ACRS
$707M
$231K 0.03%
150,900
-199,100
-57% -$425K
MNPR icon
136
Monopar Therapeutics
MNPR
$714M
$215K 0.03%
5,908
– –
CLYM
137
Climb Bio
CLYM
$659M
$214K 0.03%
175,088
– –
PEPG icon
138
PepGen
PEPG
$125M
$211K 0.03%
+150,000
New +$309K
ANEB
139
DELISTED
Anebulo Pharmaceuticals
ANEB
$205K 0.03%
157,720
– –
VYGR icon
140
Voyager Therapeutics
VYGR
$181M
$188K 0.02%
55,766
– –
ELEV
141
DELISTED
Elevation Oncology
ELEV
$179K 0.02%
690,050
– –
FTH
142
Faeth Therapeutics
FTH
$696M
$177K 0.02%
22,498
-10,000
-31% -$95.1K
CRVS icon
143
PUT
Corvus Pharmaceuticals
CRVS
$1.1B
$159K 0.02%
50,000
-450,000
-90% -$2.12M
CELC icon
144
CALL
Celcuity
CELC
$4.15B
$151K 0.02%
+14,900
New +$169K
EVAX
145
Evaxion A/S
EVAX
$23.4M
$148K 0.02%
+80,000
New +$221K
RZLT icon
146
Rezolute
RZLT
$441M
$145K 0.02%
50,058
-807,172
-94% -$3.52M
LYRA
147
DELISTED
LYRA THERAPEUTICS INC
LYRA
$134K 0.02%
21,163
– –
TOVX icon
148
Theriva Biologics
TOVX
$10.2M
$132K 0.02%
+120,031
New +$168K
LRMR icon
149
Larimar Therapeutics
LRMR
$394M
$126K 0.02%
58,526
– –
JSPR icon
150
Jasper Therapeutics
JSPR
$20.5M
$108K 0.01%
25,107
-30,000
-54% -$200K
4 5
6
7 8

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Ikarian Capital's Q1 2025 Portfolio in Review

As of Q1 2025, Ikarian Capital held 229 positions worth $811M, up 10% from $735M the previous quarter. Its ten largest holdings account for 56% of the portfolio.

Ikarian Capital deployed $164M of net new capital in Q1 2025, opening 58 new positions and adding to 27 existing holdings. Its largest new stake was Vaxcyte: 200,000 shares worth $7.55M.

By sector, the portfolio is most concentrated in Healthcare at 36% of assets, down from 48% a quarter earlier.

On the sell side, the largest reduction was Tarsus Pharmaceuticals, an estimated $6.06M trimmed.

  • Ikarian Capital's largest Q1 2025 buy was Vaxcyte: 200,000 shares worth $7.55M.
  • Ikarian Capital added most to Sarepta Therapeutics in Q1 2025, an estimated $14.2M increase.
  • Ikarian Capital's biggest Q1 2025 reduction was Tarsus Pharmaceuticals, cutting an estimated $6.06M.
  • Ikarian Capital fully exited Spyre Therapeutics in Q1 2025, selling an estimated $6.57M.
  • Ikarian Capital's ten largest holdings make up 56% of its $811M portfolio in Q1 2025.
  • Ikarian Capital opened 58 new positions and closed 69 in Q1 2025.
  • Ikarian Capital's portfolio value rose 10% quarter-over-quarter to $811M.

Based on Ikarian Capital's 13F filing for Q1 2025, filed 15 May 2025.