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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
+6.82%
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
$671M
AUM Growth
-$749M
Cap. Flow
-$596M
Cap. Flow %
-88.74%
Top 10 Hldgs %
41.79%
Holding
248
New
39
Increased
16
Reduced
53
Closed
62

Top Buys

Rank Stock Value
1
KZR
Kezar Life Sciences
KZR
+$11.5M
2
ZNTL icon
Zentalis Pharmaceuticals
ZNTL
+$7.64M
3
CLDX icon
Celldex Therapeutics
CLDX
+$6.48M
4
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
+$5.45M
5
GBT
Global Blood Therapeutics, Inc.
GBT
+$5.08M

Top Sells

Rank Stock Value
1
APLS
Apellis Pharmaceuticals
APLS
+$13.7M
2
ITCI
Intra-Cellular Therapies Inc.
ITCI
+$7.89M
3
CMPS
Compass Pathways
CMPS
+$6.85M
4
XENE icon
Xenon Pharmaceuticals
XENE
+$5.93M
5
BCAB icon
BioAtla
BCAB
+$5.78M

Sector Composition

Rank Sector Weight
1 Healthcare 50.73%
2 Consumer Staples 0.3%
3 Technology 0.3%
4 Financials 0.11%
5 Real Estate 0.06%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CMPS
201
Compass Pathways
CMPS
$1.53B
– –
-229,202
Closed -$6.85M
COGT icon
202
Cogent Biosciences
COGT
$6.65B
– –
-30,727
Closed -$258K
CRSP icon
203
CRISPR Therapeutics
CRSP
$4.73B
– –
-27,968
Closed -$3.13M
CRSP icon
204
PUT
CRISPR Therapeutics
CRSP
$4.73B
– –
-197,300
Closed -$22.1M
DCTH icon
205
Delcath Systems
DCTH
$422M
– –
-44,857
Closed -$468K
EDIT icon
206
CALL
Editas Medicine
EDIT
$396M
– –
-50,000
Closed -$2.05M
EDIT icon
207
PUT
Editas Medicine
EDIT
$396M
– –
-254,100
Closed -$10.4M
ELAN icon
208
CALL
Elanco Animal Health
ELAN
$13.2B
– –
-200,000
Closed -$6.38M
FATE icon
209
PUT
Fate Therapeutics
FATE
$286M
– –
-100,000
Closed -$5.93M
FOLD
210
CALL
DELISTED
Amicus Therapeutics
FOLD
– –
-300,000
Closed -$2.87M
FOLD
211
PUT
DELISTED
Amicus Therapeutics
FOLD
– –
-403,500
Closed -$3.85M
IGMS
212
CALL
DELISTED
IGM Biosciences
IGMS
– –
-100,000
Closed -$6.58M
IMVT icon
213
Immunovant
IMVT
$7.93B
– –
-83,046
Closed -$722K
INCY icon
214
CALL
Incyte
INCY
$24.2B
– –
-98,700
Closed -$6.79M
INCY icon
215
Incyte
INCY
$24.2B
– –
-32,666
Closed -$2.25M
INMB icon
216
INmune Bio
INMB
$46.5M
– –
-26,632
Closed -$517K
KNSA icon
217
Kiniksa Pharmaceuticals
KNSA
$5.8B
– –
-59,422
Closed -$677K
KRYS icon
218
CALL
Krystal Biotech
KRYS
$10.1B
– –
-282,300
Closed -$14.7M
KRYS icon
219
PUT
Krystal Biotech
KRYS
$10.1B
– –
-292,500
Closed -$15.3M
MGNX icon
220
CALL
MacroGenics
MGNX
$235M
– –
-446,000
Closed -$9.34M
MRK icon
221
CALL
Merck
MRK
$322B
– –
-150,000
Closed -$11.3M
NVAX icon
222
CALL
Novavax
NVAX
$1.2B
– –
-70,000
Closed -$14.5M
OBIO icon
223
Orchestra BioMed
OBIO
$238M
– –
-197,173
Closed -$1.95M
OCUL icon
224
CALL
Ocular Therapeutix
OCUL
$1.79B
– –
-493,200
Closed -$4.93M
QNCX icon
225
CALL
Quince Therapeutics
QNCX
$22.9M
– –
-711
Closed -$13M
6 7 8
9
10

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Ikarian Capital's Q4 2021 Portfolio in Review

As of Q4 2021, Ikarian Capital held 248 positions worth $671M, down 53% from $1.42B the previous quarter. Its ten largest holdings account for 42% of the portfolio.

Ikarian Capital withdrew a net $596M in Q4 2021, closing 62 positions and reducing 53 holdings. Its most notable exit was Apellis Pharmaceuticals, an estimated $13.7M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 51% of assets, up from 30% a quarter earlier, followed by Consumer Staples and Technology.

Against the trend, Ikarian Capital opened a new position in Kezar Life Sciences worth $17.1M.

  • Ikarian Capital's largest Q4 2021 buy was Kezar Life Sciences: 102,092 shares worth $17.1M.
  • Ikarian Capital added most to Zentalis Pharmaceuticals in Q4 2021, an estimated $7.64M increase.
  • Ikarian Capital's biggest Q4 2021 reduction was Xenon Pharmaceuticals, cutting an estimated $5.93M.
  • Ikarian Capital fully exited Apellis Pharmaceuticals in Q4 2021, selling an estimated $13.7M.
  • Ikarian Capital's ten largest holdings make up 42% of its $671M portfolio in Q4 2021.
  • Ikarian Capital opened 39 new positions and closed 62 in Q4 2021.
  • Ikarian Capital's portfolio value fell 53% quarter-over-quarter to $671M.

Based on Ikarian Capital's 13F filing for Q4 2021, filed 14 Feb 2022.