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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
+73.06%
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
$912M
AUM Growth
-$156M
Cap. Flow
-$257M
Cap. Flow %
-28.19%
Top 10 Hldgs %
35.78%
Holding
190
New
54
Increased
34
Reduced
35
Closed
53

Top Buys

Rank Stock Value
1
CRBP icon
Corbus Pharmaceuticals
CRBP
+$8.96M
2
CYTK icon
Cytokinetics
CYTK
+$8.91M
3
ALNY icon
Alnylam Pharmaceuticals
ALNY
+$8.6M
4
JBIO
Jade Biosciences
JBIO
+$8.03M
5
PYXS icon
Pyxis Oncology
PYXS
+$6.99M

Top Sells

Rank Stock Value
1
ARGX icon
argenx
ARGX
+$26.5M
2
LBPH
Longboard Pharmaceuticals, Inc. Common Stock
LBPH
+$21.4M
3
XHB icon
State Street SPDR S&P Homebuilders ETF
XHB
+$19.1M
4
NUVL
Nuvalent
NUVL
+$12.5M
5
IRON icon
Disc Medicine
IRON
+$11M

Sector Composition

Rank Sector Weight
1 Healthcare 39.78%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CRSP icon
151
PUT
CRISPR Therapeutics
CRSP
$4.73B
– –
-649,400
Closed -$40.7M
CYTK icon
152
CALL
Cytokinetics
CYTK
$10.5B
– –
-603,500
Closed -$50.4M
DYN icon
153
CALL
Dyne Therapeutics
DYN
$4.7B
– –
-607,600
Closed -$8.08M
DYN icon
154
Dyne Therapeutics
DYN
$4.7B
– –
-285,900
Closed -$3.8M
DYN icon
155
PUT
Dyne Therapeutics
DYN
$4.7B
– –
-250,000
Closed -$3.33M
ESPR
156
DELISTED
Esperion Therapeutics
ESPR
– –
-337,636
Closed -$1.01M
EWTX icon
157
Edgewise Therapeutics
EWTX
$4.13B
– –
-270,000
Closed -$2.95M
GPCR icon
158
Structure Therapeutics
GPCR
$3.41B
– –
-14,524
Closed -$612K
IMUX icon
159
CALL
Immunic
IMUX
$190M
– –
-45,000
Closed -$675K
IMVT icon
160
CALL
Immunovant
IMVT
$7.93B
– –
-300,700
Closed -$12.7M
IMVT icon
161
PUT
Immunovant
IMVT
$7.93B
– –
-164,700
Closed -$6.94M
JAZZ icon
162
CALL
Jazz Pharmaceuticals
JAZZ
$15.9B
– –
-41,800
Closed -$5.14M
LLY icon
163
PUT
Eli Lilly
LLY
$1.02T
– –
-70,000
Closed -$40.8M
LNTH icon
164
Lantheus
LNTH
$6.49B
– –
-15,000
Closed -$883K
MRNA icon
165
Moderna
MRNA
$21.8B
– –
-24,546
Closed -$2.44M
MRNA icon
166
PUT
Moderna
MRNA
$21.8B
– –
-44,300
Closed -$4.41M
NUVL
167
CALL
DELISTED
Nuvalent
NUVL
– –
-104,400
Closed -$7.68M
NUVL
168
PUT
DELISTED
Nuvalent
NUVL
– –
-48,400
Closed -$3.56M
NVAX icon
169
CALL
Novavax
NVAX
$1.2B
– –
-713,200
Closed -$3.42M
NVAX icon
170
PUT
Novavax
NVAX
$1.2B
– –
-913,200
Closed -$4.38M
PRTA icon
171
CALL
Prothena Corp
PRTA
$425M
– –
-600,000
Closed -$21.8M
PRTA icon
172
PUT
Prothena Corp
PRTA
$425M
– –
-418,400
Closed -$15.2M
PTGX icon
173
Protagonist Therapeutics
PTGX
$8.79B
– –
-319,000
Closed -$7.31M
RCKT icon
174
CALL
Rocket Pharmaceuticals
RCKT
$340M
– –
-150,000
Closed -$4.5M
RCUS icon
175
CALL
Arcus Biosciences
RCUS
$3.55B
– –
-400,000
Closed -$7.64M
4 5 6
7
8

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HCA
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GX
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WCM
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Ikarian Capital's Q1 2024 Portfolio in Review

As of Q1 2024, Ikarian Capital held 190 positions worth $912M, down 15% from $1.07B the previous quarter. Its ten largest holdings account for 36% of the portfolio.

Ikarian Capital withdrew a net $257M in Q1 2024, closing 53 positions and reducing 35 holdings. Its most notable exit was argenx, an estimated $26.5M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 40% of assets, up from 32% a quarter earlier.

Against the trend, Ikarian Capital opened a new position in Alnylam Pharmaceuticals worth $7.7M.

  • Ikarian Capital's largest Q1 2024 buy was Alnylam Pharmaceuticals: 51,541 shares worth $7.7M.
  • Ikarian Capital added most to Corbus Pharmaceuticals in Q1 2024, an estimated $8.96M increase.
  • Ikarian Capital's biggest Q1 2024 reduction was Longboard Pharmaceuticals, Inc. Common Stock, cutting an estimated $21.4M.
  • Ikarian Capital fully exited argenx in Q1 2024, selling an estimated $26.5M.
  • Ikarian Capital's ten largest holdings make up 36% of its $912M portfolio in Q1 2024.
  • Ikarian Capital opened 54 new positions and closed 53 in Q1 2024.
  • Ikarian Capital's portfolio value fell 15% quarter-over-quarter to $912M.

Based on Ikarian Capital's 13F filing for Q1 2024, filed 15 May 2024.