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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
+57.73%
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
$2.27B
AUM Growth
+$886M
Cap. Flow
+$626M
Cap. Flow %
27.61%
Top 10 Hldgs %
43.12%
Holding
273
New
99
Increased
46
Reduced
48
Closed
43

Top Buys

Rank Stock Value
1
MORF
Morphic Holding, Inc. Common Stock
MORF
+$15.3M
2
ASND icon
Ascendis Pharma A/S
ASND
+$14.4M
3
PRTA icon
Prothena Corp
PRTA
+$14M
4
BMY icon
Bristol-Myers Squibb
BMY
+$11.6M
5
PCVX icon
Vaxcyte
PCVX
+$9.67M

Top Sells

Rank Stock Value
1
OCUL icon
Ocular Therapeutix
OCUL
+$15.3M
2
ETNB
89bio
ETNB
+$7.86M
3
MRTX
Mirati Therapeutics, Inc. Common Stock
MRTX
+$7.57M
4
RPTX
Repare Therapeutics
RPTX
+$5.86M
5
ATRA icon
Atara Biotherapeutics
ATRA
+$5.53M

Sector Composition

Rank Sector Weight
1 Healthcare 23.89%
2 Industrials 0.04%
3 Financials 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MRNA icon
1
PUT
Moderna
MRNA
$21.5B
$151M 6.68%
1,450,000
+356,100
+33% +$36M
SRPT icon
2
PUT
Sarepta Therapeutics
SRPT
$1.66B
$148M 6.55%
870,900
+340,800
+64% +$50.5M
XBI icon
3
PUT
State Street SPDR S&P Biotech ETF
XBI
$10.1B
$128M 5.64%
908,100
+58,100
+7% +$7.44M
BIIB icon
4
CALL
Biogen
BIIB
$29.9B
$115M 5.08%
470,400
+370,400
+370% +$95.6M
SPY icon
5
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$778B
$89.7M 3.96%
240,000
+40,000
+20% +$14.2M
BIIB icon
6
PUT
Biogen
BIIB
$29.9B
$88.1M 3.89%
360,000
+221,200
+159% +$57.1M
SRPT icon
7
CALL
Sarepta Therapeutics
SRPT
$1.66B
$85.4M 3.77%
501,000
+398,400
+388% +$59M
HZNP
8
CALL
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
$71.5M 3.15%
977,200
+590,700
+153% +$43.9M
ARGX icon
9
PUT
argenx
ARGX
$57.4B
$59.3M 2.61%
201,500
+200,700
+25,088% +$55.2M
ARKG icon
10
PUT
ARK Genomic Revolution ETF
ARKG
$1.51B
$41M 1.81%
+440,100
New +$35.1M
NVAX icon
11
PUT
Novavax
NVAX
$1.23B
$36.1M 1.59%
323,700
-51,700
-14% -$5.5M
TCON
12
DELISTED
TRACON Pharmaceuticals, Inc. Common Stock
TCON
$31.8M 1.4%
135,842
+27,715
+26% +$3.86M
CCXI
13
PUT
DELISTED
ChemoCentryx, Inc.
CCXI
$28M 1.23%
+451,700
New +$25.9M
ZYME icon
14
PUT
Zymeworks
ZYME
$1.68B
$27.4M 1.21%
580,200
+335,200
+137% +$15.6M
BNTX icon
15
PUT
BioNTech
BNTX
$22.6B
$26.1M 1.15%
+319,900
New +$31.4M
ONC
16
PUT
BeOne Medicines Ltd
ONC
$33.8B
$25.1M 1.11%
+97,300
New +$26.8M
CLDX icon
17
Celldex Therapeutics
CLDX
$2.77B
$23.9M 1.05%
1,364,990
-104,740
-7% -$1.89M
IGMS
18
PUT
DELISTED
IGM Biosciences
IGMS
$22.1M 0.97%
250,000
-63,300
-20% -$4.45M
CVAC
19
PUT
DELISTED
CureVac
CVAC
$21.2M 0.93%
+261,200
New +$20M
RETA
20
PUT
DELISTED
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
$20.6M 0.91%
166,600
+109,200
+190% +$14.4M
KALV
21
DELISTED
KalVista Pharmaceuticals
KALV
$20.2M 0.89%
1,063,961
-171,510
-14% -$2.94M
ARVN icon
22
CALL
Arvinas
ARVN
$518M
$19.8M 0.87%
232,700
+73,000
+46% +$2.52M
HZNP
23
PUT
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
$19.4M 0.85%
+265,000
New +$19.7M
BEAM icon
24
PUT
Beam Therapeutics
BEAM
$2.58B
$18.9M 0.83%
+231,000
New +$11.4M
BMY icon
25
Bristol-Myers Squibb
BMY
$127B
$17.9M 0.79%
288,400
+188,400
+188% +$11.6M
1
2 3 4 5

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Ikarian Capital's Q4 2020 Portfolio in Review

As of Q4 2020, Ikarian Capital held 273 positions worth $2.27B, up 64% from $1.38B the previous quarter. Its ten largest holdings account for 43% of the portfolio.

Ikarian Capital deployed $626M of net new capital in Q4 2020, opening 99 new positions and adding to 46 existing holdings. Its largest new stake was Morphic Holding, Inc. Common Stock: 516,763 shares worth $17.3M.

By sector, the portfolio is most concentrated in Healthcare at 24% of assets, down from 25% a quarter earlier, followed by Industrials and Financials.

On the sell side, the largest reduction was Ocular Therapeutix, an estimated $15.3M trimmed.

  • Ikarian Capital's largest Q4 2020 buy was Morphic Holding, Inc. Common Stock: 516,763 shares worth $17.3M.
  • Ikarian Capital added most to Bristol-Myers Squibb in Q4 2020, an estimated $11.6M increase.
  • Ikarian Capital's biggest Q4 2020 reduction was Ocular Therapeutix, cutting an estimated $15.3M.
  • Ikarian Capital fully exited Repare Therapeutics in Q4 2020, selling an estimated $5.86M.
  • Ikarian Capital's ten largest holdings make up 43% of its $2.27B portfolio in Q4 2020.
  • Ikarian Capital opened 99 new positions and closed 43 in Q4 2020.
  • Ikarian Capital's portfolio value rose 64% quarter-over-quarter to $2.27B.

Based on Ikarian Capital's 13F filing for Q4 2020, filed 12 Feb 2021.