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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
TNGX icon
201
Tango Therapeutics
TNGX
$4.21B
– –
-5,456
Closed -$42K
TSVT
202
DELISTED
2seventy bio
TSVT
– –
-99
Closed -$1K
UTHR icon
203
CALL
United Therapeutics
UTHR
$26.1B
– –
-100,000
Closed -$17.9M
VTGN icon
204
VistaGen Therapeutics
VTGN
$9.98M
– –
-17,040
Closed -$633K
VTVT icon
205
vTv Therapeutics
VTVT
$124M
– –
-18,575
Closed -$536K
XBI icon
206
CALL
State Street SPDR S&P Biotech ETF
XBI
$10B
– –
-935,600
Closed -$84.1M
ZLAB icon
207
CALL
Zai Lab
ZLAB
$2.07B
– –
-53,100
Closed -$2.34M
ZNTL icon
208
Zentalis Pharmaceuticals
ZNTL
$332M
– –
-202,203
Closed -$9.33M
TRAW icon
209
Traws Pharma
TRAW
$7.34M
– –
-759
Closed -$35K
ATYR
210
aTyr Pharma
ATYR
$47.4M
– –
-37,017
Closed -$197K
IRD
211
Opus Genetics
IRD
$287M
– –
-124,021
Closed -$401K
SEEL
212
DELISTED
Seelos Therapeutics, Inc. Common Stock
SEEL
– –
-67
Closed -$215K
GMDA
213
DELISTED
Gamida Cell Ltd. Ordinary Shares
GMDA
– –
-32,689
Closed -$135K
KNTE
214
DELISTED
Kinnate Biopharma Inc. Common Stock
KNTE
– –
-1,990
Closed -$22K
ORTX
215
DELISTED
Orchard Therapeutics plc American Depositary Shares
ORTX
– –
-15,561
Closed -$110K
ONCT
216
DELISTED
Oncternal Therapeutics, Inc. Common Stock
ONCT
– –
-10,509
Closed -$292K
RETA
217
PUT
DELISTED
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
– –
-649,600
Closed -$21.3M
HARP
218
DELISTED
Harpoon Therapeutics, Inc. Common Stock
HARP
– –
-11,701
Closed -$582K
KDNY
219
DELISTED
Chinook Therapeutics, Inc. Common Stock
KDNY
$0 ﹤0.01%
+332,295
New +$5.22M
APTO
220
DELISTED
Aptose Biosciences, Inc.
APTO
– –
-238
Closed -$147K
AMYT
221
DELISTED
Amryt Pharma plc American Depositary Shares
AMYT
– –
-37,248
Closed -$70K
CDAK
222
DELISTED
Codiak BioSciences, Inc. Common Stock
CDAK
– –
-52,177
Closed -$328K
ATNX
223
DELISTED
Athenex, Inc. Common Stock
ATNX
– –
-4,002
Closed -$68K
OTIC
224
DELISTED
Otonomy, Inc.
OTIC
$0 ﹤0.01%
180
-218,358
-100% -$455K
AGTC
225
DELISTED
Applied Genetic Technologies Corporation
AGTC
– –
-412,293
Closed -$440K
6 7 8
9
10

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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.