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Ikarian Capital Portfolio holdings

AUM $928M
1-Year Est. Return 596.14%
This Fund
S&P 500
This Quarter Est. Return
+1.5%
1 Year Est. Return
+596.14%
3 Year Est. Return
+5,184.12%
5 Year Est. Return
+18,295.93%
10 Year Est. Return
–
AUM
$1.24B
AUM Growth
-$1.73B
Cap. Flow
-$83.3M
Cap. Flow %
-6.73%
Top 10 Hldgs %
32.38%
Holding
322
New
31
Increased
40
Reduced
64
Closed
112

Top Buys

Rank Stock Value
1
BIIB icon
Biogen
BIIB
+$36.4M
2
CRSP icon
CRISPR Therapeutics
CRSP
+$12.7M
3
CCXI
ChemoCentryx, Inc.
CCXI
+$11.6M
4
CGEM icon
Cullinan Oncology
CGEM
+$9.06M
5
ALEC icon
Alector
ALEC
+$7.87M

Top Sells

Rank Stock Value
1
LLY icon
Eli Lilly
LLY
+$24M
2
CRIS icon
Curis
CRIS
+$13.8M
3
NBP
NovaBridge Biosciences American Depositary Shares
NBP
+$13.5M
4
PRTA icon
Prothena Corp
PRTA
+$11M
5
TVRD
Tvardi Therapeutics
TVRD
+$9.32M

Sector Composition

Rank Sector Weight
1 Miscellaneous 55.47%
2 Healthcare 44.07%
3 Financials 0.3%
4 Consumer Staples 0.11%
5 Industrials 0.05%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BIIB icon
1
CALL
Biogen
BIIB
$32.6B
$93.5M 7.56%
270,000
-124,900
-32% -$37.8M
ALNY icon
2
PUT
Alnylam Pharmaceuticals
ALNY
$35.6B
$50.9M 4.11%
+300,000
New +$43.9M
NTLA icon
3
CALL
Intellia Therapeutics
NTLA
$1.79B
$47.7M 3.85%
+294,400
New +$22.9M
BIIB icon
4
Biogen
BIIB
$32.6B
$43.6M 3.53%
125,962
+120,262
+2,110% +$36.4M
ALNY icon
5
CALL
Alnylam Pharmaceuticals
ALNY
$35.6B
$33.2M 2.68%
+195,700
New +$28.7M
CRSP icon
6
PUT
CRISPR Therapeutics
CRSP
$5.39B
$32.4M 2.62%
200,000
+158,100
+377% +$19.2M
FLNA
7
CALL
Filana Therapeutics
FLNA
$39.6M
$31.2M 2.52%
+365,000
New +$19.6M
RETA
8
PUT
DELISTED
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
$24.8M 2%
174,900
+70,000
+67% +$7.9M
HZNP
9
CALL
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
$23.4M 1.89%
250,000
-382,200
-60% -$35.2M
CLDX icon
10
CALL
Celldex Therapeutics
CLDX
$3.12B
$20.1M 1.62%
600,000
+96,500
+19% +$2.65M
CRSP icon
11
CRISPR Therapeutics
CRSP
$5.39B
$19.4M 1.57%
119,711
+104,627
+694% +$12.7M
APLS
12
CALL
DELISTED
Apellis Pharmaceuticals
APLS
$19M 1.53%
+300,000
New +$15.5M
APLS
13
PUT
DELISTED
Apellis Pharmaceuticals
APLS
$19M 1.53%
+300,000
New +$15.5M
XFOR icon
14
X4 Pharmaceuticals
XFOR
$401M
$17.7M 1.43%
90,643
+3,477
+4% +$874K
TCON
15
DELISTED
TRACON Pharmaceuticals, Inc. Common Stock
TCON
$17.6M 1.43%
135,842
– –
INCY icon
16
CALL
Incyte
INCY
$25.7B
$16.8M 1.36%
200,000
– –
BHC icon
17
CALL
Bausch Health
BHC
$2.45B
$16.1M 1.3%
550,000
-250,000
-31% -$7.57M
ZGNX
18
CALL
DELISTED
Zogenix, Inc.
ZGNX
$14.7M 1.19%
850,000
– –
SAGE
19
CALL
DELISTED
Sage Therapeutics
SAGE
$14.4M 1.17%
254,300
+150,000
+144% +$10.6M
SAGE
20
PUT
DELISTED
Sage Therapeutics
SAGE
$14.2M 1.15%
250,000
– –
ALEC icon
21
Alector
ALEC
$275M
$14.1M 1.14%
674,723
+417,223
+162% +$7.87M
LKFT
22
Lakefront Biotherapeutics American Depositary Shares
LKFT
$1.87B
$13.9M 1.12%
200,000
– –
CCXI
23
PUT
DELISTED
ChemoCentryx, Inc.
CCXI
$13M 1.05%
967,600
+455,600
+89% +$11.2M
CMRX
24
DELISTED
Chimerix, Inc.
CMRX
$12.6M 1.02%
1,575,916
-21,598
-1% -$180K
MGNX icon
25
MacroGenics
MGNX
$280M
$12.3M 1%
459,602
-40,867
-8% -$1.2M
1
2 3 4 5

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Ikarian Capital's Q2 2021 Portfolio in Review

As of Q2 2021, Ikarian Capital held 322 positions worth $1.24B, down 58% from $2.97B the previous quarter. Its ten largest holdings account for 32% of the portfolio.

Ikarian Capital withdrew a net $83.3M in Q2 2021, closing 112 positions and reducing 64 holdings. Its most notable exit was Curis, an estimated $13.8M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 55% of assets, down from 78% a quarter earlier, followed by Healthcare and Financials.

Against the trend, Ikarian Capital opened a new position in ChemoCentryx, Inc. worth $6.31M.

  • Ikarian Capital's largest Q2 2021 buy was ChemoCentryx, Inc.: 471,376 shares worth $6.31M.
  • Ikarian Capital added most to Biogen in Q2 2021, an estimated $36.4M increase.
  • Ikarian Capital's biggest Q2 2021 reduction was Eli Lilly, cutting an estimated $24M.
  • Ikarian Capital fully exited Curis in Q2 2021, selling an estimated $13.8M.
  • Ikarian Capital's ten largest holdings make up 32% of its $1.24B portfolio in Q2 2021.
  • Ikarian Capital opened 31 new positions and closed 112 in Q2 2021.
  • Ikarian Capital's portfolio value fell 58% quarter-over-quarter to $1.24B.

Based on Ikarian Capital's 13F filing for Q2 2021, filed 16 Aug 2021.