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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
-1.2%
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
$548M
AUM Growth
-$212M
Cap. Flow
-$139M
Cap. Flow %
-25.42%
Top 10 Hldgs %
37.58%
Holding
232
New
36
Increased
20
Reduced
48
Closed
92

Top Buys

Rank Stock Value
1
ESPR
Esperion Therapeutics
ESPR
+$11.6M
2
ALNY icon
Alnylam Pharmaceuticals
ALNY
+$8.51M
3
UTHR icon
United Therapeutics
UTHR
+$8.13M
4
KRTX
Karuna Therapeutics, Inc. Common Stock
KRTX
+$5.75M
5
ALT icon
Altimmune
ALT
+$5.53M

Top Sells

Rank Stock Value
1
BCYC
Bicycle Therapeutics
BCYC
+$21M
2
ZNTL icon
Zentalis Pharmaceuticals
ZNTL
+$9.33M
3
SAGE
Sage Therapeutics
SAGE
+$8.38M
4
BHVN
Biohaven Pharmaceutical Holding Company Ltd.
BHVN
+$7.11M
5
SRRA
Sierra Oncology, Inc. Common Stock
SRRA
+$6.98M

Sector Composition

Rank Sector Weight
1 Healthcare 43.2%
2 Technology 0.14%
3 Consumer Staples 0.03%
4 Financials 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BCYC
151
PUT
Bicycle Therapeutics
BCYC
$269M
– –
-106,600
Closed -$4.68M
BDTX icon
152
Black Diamond Therapeutics
BDTX
$95.1M
– –
-159,390
Closed -$441K
BLUE
153
DELISTED
bluebird bio
BLUE
– –
-15
Closed -$1K
BTAI icon
154
BioXcel Therapeutics
BTAI
$24.8M
– –
-339
Closed -$113K
CABA icon
155
CALL
Cabaletta Bio
CABA
$427M
– –
-449,000
Closed -$912K
CMPX icon
156
Compass Therapeutics
CMPX
$349M
– –
-74,171
Closed -$100K
CRVS icon
157
Corvus Pharmaceuticals
CRVS
$1.1B
– –
-510,126
Closed -$837K
CYCN icon
158
Cyclerion Therapeutics
CYCN
$15.2M
– –
-26,373
Closed -$585K
DMAC icon
159
DiaMedica Therapeutics
DMAC
$341M
– –
-221,252
Closed -$553K
EYPT icon
160
EyePoint Inc
EYPT
$999M
– –
-22,552
Closed -$274K
FATE icon
161
Fate Therapeutics
FATE
$275M
– –
-9,640
Closed -$374K
GILD icon
162
CALL
Gilead Sciences
GILD
$165B
– –
-181,300
Closed -$10.8M
GILD icon
163
PUT
Gilead Sciences
GILD
$165B
– –
-181,300
Closed -$10.8M
GOSS icon
164
PUT
Gossamer Bio
GOSS
$101M
– –
-14,900
Closed -$129K
GRI
165
GRI Bio
GRI
$2.6M
– –
0
– -$380K
GYRE icon
166
Gyre Therapeutics
GYRE
$629M
– –
-63,550
Closed -$314K
IFRX icon
167
InflaRx
IFRX
$243M
– –
-349,468
Closed -$639K
IGMS
168
DELISTED
IGM Biosciences
IGMS
– –
-1,587
Closed -$43K
KALV
169
DELISTED
KalVista Pharmaceuticals
KALV
– –
-39,730
Closed -$586K
KOD icon
170
CALL
Kodiak Sciences
KOD
$2.5B
– –
-25,700
Closed -$199K
KOD icon
171
Kodiak Sciences
KOD
$2.5B
– –
-68,100
Closed -$526K
KOD icon
172
PUT
Kodiak Sciences
KOD
$2.5B
– –
-73,100
Closed -$565K
KPTI icon
173
Karyopharm Therapeutics
KPTI
$155M
– –
-55
Closed -$6K
KYMR icon
174
Kymera Therapeutics
KYMR
$8.66B
– –
-50,000
Closed -$2.12M
LQDA icon
175
Liquidia Corp
LQDA
$7.72B
– –
-243,904
Closed -$1.75M
5 6
7
8 9

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GX
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WCM
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Ikarian Capital's Q2 2022 Portfolio in Review

As of Q2 2022, Ikarian Capital held 232 positions worth $548M, down 28% from $760M the previous quarter. Its ten largest holdings account for 38% of the portfolio.

Ikarian Capital withdrew a net $139M in Q2 2022, closing 92 positions and reducing 48 holdings. Its most notable exit was Bicycle Therapeutics, an estimated $21M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 43% of assets, up from 43% a quarter earlier, followed by Technology and Consumer Staples.

Against the trend, Ikarian Capital opened a new position in Esperion Therapeutics worth $13.1M.

  • Ikarian Capital's largest Q2 2022 buy was Esperion Therapeutics: 2,054,602 shares worth $13.1M.
  • Ikarian Capital added most to Alnylam Pharmaceuticals in Q2 2022, an estimated $8.51M increase.
  • Ikarian Capital's biggest Q2 2022 reduction was Adicet Bio, cutting an estimated $5M.
  • Ikarian Capital fully exited Bicycle Therapeutics in Q2 2022, selling an estimated $21M.
  • Ikarian Capital's ten largest holdings make up 38% of its $548M portfolio in Q2 2022.
  • Ikarian Capital opened 36 new positions and closed 92 in Q2 2022.
  • Ikarian Capital's portfolio value fell 28% quarter-over-quarter to $548M.

Based on Ikarian Capital's 13F filing for Q2 2022, filed 12 Aug 2022.