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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
+85.72%
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
$1.26B
AUM Growth
-$73.2M
Cap. Flow
-$340M
Cap. Flow %
-27.05%
Top 10 Hldgs %
36.58%
Holding
220
New
69
Increased
26
Reduced
46
Closed
56

Top Buys

Rank Stock Value
1
BPMC
Blueprint Medicines
BPMC
+$13.6M
2
GOSS icon
Gossamer Bio
GOSS
+$8.85M
3
STSA
Satsuma Pharmaceuticals, Inc. Common Stock
STSA
+$7.61M
4
CLDX icon
Celldex Therapeutics
CLDX
+$7.3M
5
BDTX icon
Black Diamond Therapeutics
BDTX
+$6.53M

Top Sells

Rank Stock Value
1
XLRN
Acceleron Pharma
XLRN
+$23.1M
2
BTAI icon
BioXcel Therapeutics
BTAI
+$17.3M
3
IMVT icon
Immunovant
IMVT
+$12M
4
ARGX icon
argenx
ARGX
+$11.4M
5
VSTM icon
Verastem
VSTM
+$7.36M

Sector Composition

Rank Sector Weight
1 Healthcare 25.17%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AXSM icon
176
PUT
Axsome Therapeutics
AXSM
$12.1B
– –
-150,000
Closed -$8.82M
BBIO icon
177
BridgeBio Pharma
BBIO
$16.1B
– –
-87,900
Closed -$2.68M
BIIB icon
178
CALL
Biogen
BIIB
$30.7B
– –
-143,400
Closed -$45.4M
CHRS icon
179
CALL
Coherus Oncology
CHRS
$227M
– –
-84,100
Closed -$1.36M
CYTK icon
180
CALL
Cytokinetics
CYTK
$10.9B
– –
-500,000
Closed -$5.89M
CYTK icon
181
PUT
Cytokinetics
CYTK
$10.9B
– –
-384,400
Closed -$4.53M
DBVT
182
PUT
DBV Technologies
DBVT
$817M
– –
-5,280
Closed -$207K
GILD icon
183
CALL
Gilead Sciences
GILD
$163B
– –
-250,000
Closed -$18.7M
LKFT
184
CALL
Lakefront Biotherapeutics American Depositary Shares
LKFT
$1.81B
– –
-35,000
Closed -$6.86M
INO icon
185
PUT
Inovio Pharmaceuticals
INO
$54M
– –
-20,833
Closed -$1.86M
INSM icon
186
CALL
Insmed
INSM
$22B
– –
-300,000
Closed -$4.81M
IWM icon
187
PUT
iShares Russell 2000 ETF
IWM
$80.2B
– –
-150,000
Closed -$17.2M
KALA icon
188
KALA BIO
KALA
$13.6M
– –
-198
Closed -$4.34M
KOD icon
189
PUT
Kodiak Sciences
KOD
$2.66B
– –
-11,800
Closed -$563K
KPTI icon
190
Karyopharm Therapeutics
KPTI
$159M
– –
-2,428
Closed -$700K
KPTI icon
191
PUT
Karyopharm Therapeutics
KPTI
$159M
– –
-36,787
Closed -$10.6M
LGND icon
192
CALL
Ligand Pharmaceuticals
LGND
$5.94B
– –
-320,600
Closed -$14.5M
MGNX icon
193
MacroGenics
MGNX
$240M
– –
-360,030
Closed -$2.1M
NBIX icon
194
CALL
Neurocrine Biosciences
NBIX
$18.7B
– –
-100,000
Closed -$8.65M
NERV icon
195
Minerva Neurosciences
NERV
$187M
– –
-12,938
Closed -$759K
NTLA icon
196
Intellia Therapeutics
NTLA
$1.55B
– –
-184,989
Closed -$2.26M
NXTC icon
197
PUT
NextCure
NXTC
$20.5M
– –
-3,392
Closed -$1.51M
OVID icon
198
Ovid Therapeutics
OVID
$442M
– –
-377,737
Closed -$1.13M
PTGX icon
199
Protagonist Therapeutics
PTGX
$8.92B
– –
-158,222
Closed -$1.12M
QNCX icon
200
Quince Therapeutics
QNCX
$22.5M
– –
-125
Closed -$1.14M
5 6 7
8
9

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Ikarian Capital's Q2 2020 Portfolio in Review

As of Q2 2020, Ikarian Capital held 220 positions worth $1.26B, down 5.5% from $1.33B the previous quarter. Its ten largest holdings account for 37% of the portfolio.

Ikarian Capital withdrew a net $340M in Q2 2020, closing 56 positions and reducing 46 holdings. Its most notable exit was Acceleron Pharma, an estimated $23.1M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 25% of assets, up from 20% a quarter earlier.

Against the trend, Ikarian Capital opened a new position in Blueprint Medicines worth $15.7M.

  • Ikarian Capital's largest Q2 2020 buy was Blueprint Medicines: 201,662 shares worth $15.7M.
  • Ikarian Capital added most to bluebird bio in Q2 2020, an estimated $5.73M increase.
  • Ikarian Capital's biggest Q2 2020 reduction was BioXcel Therapeutics, cutting an estimated $17.3M.
  • Ikarian Capital fully exited Acceleron Pharma in Q2 2020, selling an estimated $23.1M.
  • Ikarian Capital's ten largest holdings make up 37% of its $1.26B portfolio in Q2 2020.
  • Ikarian Capital opened 69 new positions and closed 56 in Q2 2020.
  • Ikarian Capital's portfolio value fell 5.5% quarter-over-quarter to $1.26B.

Based on Ikarian Capital's 13F filing for Q2 2020, filed 14 Aug 2020.