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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
+8.9%
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
$1.38B
AUM Growth
+$125M
Cap. Flow
+$100M
Cap. Flow %
7.26%
Top 10 Hldgs %
41.14%
Holding
237
New
73
Increased
38
Reduced
39
Closed
63

Top Buys

Rank Stock Value
1
MIST icon
Milestone Pharmaceuticals
MIST
+$12.5M
2
ETNB
89bio
ETNB
+$10.8M
3
IMTX icon
Immatics
IMTX
+$6.72M
4
BMY icon
Bristol-Myers Squibb
BMY
+$6.02M
5
KNSA icon
Kiniksa Pharmaceuticals
KNSA
+$5.91M

Top Sells

Rank Stock Value
1
BPMC
Blueprint Medicines
BPMC
+$15.7M
2
BTAI icon
BioXcel Therapeutics
BTAI
+$12.5M
3
KURA icon
Kura Oncology
KURA
+$10.1M
4
STSA
Satsuma Pharmaceuticals, Inc. Common Stock
STSA
+$9.46M
5
ZGNX
Zogenix, Inc.
ZGNX
+$7.96M

Sector Composition

Rank Sector Weight
1 Healthcare 25.17%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
XBI icon
1
PUT
State Street SPDR S&P Biotech ETF
XBI
$10.1B
$94.7M 6.85%
850,000
+600,000
+240% +$67.3M
MRTX
2
PUT
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
$91.2M 6.6%
549,000
+399,000
+266% +$54.6M
MRNA icon
3
PUT
Moderna
MRNA
$21.5B
$77.4M 5.6%
1,093,900
+793,900
+265% +$55.4M
SRPT icon
4
PUT
Sarepta Therapeutics
SRPT
$1.66B
$74.4M 5.39%
+530,100
New +$80.6M
SPY icon
5
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$778B
$67M 4.85%
200,000
-500,000
-71% -$166M
NVAX icon
6
PUT
Novavax
NVAX
$1.23B
$40.7M 2.94%
375,400
+211,100
+128% +$25.7M
BIIB icon
7
PUT
Biogen
BIIB
$29.9B
$39.4M 2.85%
+138,800
New +$38.7M
HZNP
8
CALL
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
$30M 2.17%
+386,500
New +$26.6M
BIIB icon
9
CALL
Biogen
BIIB
$29.9B
$28.4M 2.05%
+100,000
New +$27.9M
CYTK icon
10
CALL
Cytokinetics
CYTK
$11B
$25.4M 1.84%
+1,171,600
New +$27.4M
ZYME icon
11
CALL
Zymeworks
ZYME
$1.68B
$23.3M 1.69%
500,000
-200,000
-29% -$6.87M
IGMS
12
PUT
DELISTED
IGM Biosciences
IGMS
$23.1M 1.67%
+313,300
New +$18.5M
ASND icon
13
CALL
Ascendis Pharma A/S
ASND
$16.7B
$22.4M 1.62%
145,000
– –
CLDX icon
14
Celldex Therapeutics
CLDX
$2.77B
$21.8M 1.58%
1,469,730
-177,709
-11% -$2.08M
MCRB icon
15
CALL
Seres Therapeutics
MCRB
$48M
$21.6M 1.56%
38,120
+25,620
+205% +$8.52M
BCLI
16
PUT
DELISTED
BRAINSTORM CELL THERAPUTC
BCLI
$19.8M 1.43%
+78,007
New +$16M
ARNA
17
CALL
DELISTED
Arena Pharmaceuticals Inc
ARNA
$19.4M 1.41%
+260,000
New +$17.3M
IGMS
18
CALL
DELISTED
IGM Biosciences
IGMS
$18.5M 1.34%
+250,000
New +$14.8M
BMY icon
19
CALL
Bristol-Myers Squibb
BMY
$127B
$18.1M 1.31%
+300,000
New +$18.1M
ZGNX
20
CALL
DELISTED
Zogenix, Inc.
ZGNX
$16.1M 1.17%
900,000
+777,300
+633% +$19M
KALV
21
DELISTED
KalVista Pharmaceuticals
KALV
$15.6M 1.13%
1,235,471
+122,076
+11% +$1.53M
KOD icon
22
PUT
Kodiak Sciences
KOD
$2.59B
$14.8M 1.07%
+250,000
New +$12.5M
SRPT icon
23
CALL
Sarepta Therapeutics
SRPT
$1.66B
$14.4M 1.04%
102,600
+100,000
+3,846% +$15.2M
MDGL icon
24
CALL
Madrigal Pharmaceuticals
MDGL
$12.6B
$13.6M 0.99%
114,900
+30,200
+36% +$3.28M
INCY icon
25
CALL
Incyte
INCY
$23.5B
$13.5M 0.97%
150,000
– –
1
2 3 4 5

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Ikarian Capital's Q3 2020 Portfolio in Review

As of Q3 2020, Ikarian Capital held 237 positions worth $1.38B, up 10% from $1.26B the previous quarter. Its ten largest holdings account for 41% of the portfolio.

Ikarian Capital deployed $100M of net new capital in Q3 2020, opening 73 new positions and adding to 38 existing holdings. Its largest new stake was Milestone Pharmaceuticals: 1,743,545 shares worth $12.8M.

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

On the sell side, the largest reduction was BioXcel Therapeutics, an estimated $12.5M trimmed.

  • Ikarian Capital's largest Q3 2020 buy was Milestone Pharmaceuticals: 1,743,545 shares worth $12.8M.
  • Ikarian Capital added most to Kiniksa Pharmaceuticals in Q3 2020, an estimated $5.91M increase.
  • Ikarian Capital's biggest Q3 2020 reduction was BioXcel Therapeutics, cutting an estimated $12.5M.
  • Ikarian Capital fully exited Blueprint Medicines in Q3 2020, selling an estimated $15.7M.
  • Ikarian Capital's ten largest holdings make up 41% of its $1.38B portfolio in Q3 2020.
  • Ikarian Capital opened 73 new positions and closed 63 in Q3 2020.
  • Ikarian Capital's portfolio value rose 10% quarter-over-quarter to $1.38B.

Based on Ikarian Capital's 13F filing for Q3 2020, filed 16 Nov 2020.