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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
+2.01%
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
$1.42B
AUM Growth
+$183M
Cap. Flow
+$291M
Cap. Flow %
20.46%
Top 10 Hldgs %
37.91%
Holding
267
New
57
Increased
30
Reduced
117
Closed
58

Top Buys

Rank Stock Value
1
APLS
Apellis Pharmaceuticals
APLS
+$19.5M
2
BCYC
Bicycle Therapeutics
BCYC
+$18.4M
3
INBX
Inhibrx, Inc. Common Stock
INBX
+$8.57M
4
IMTX icon
Immatics
IMTX
+$8.37M
5
AYLA
Ayala Pharmaceuticals, Inc. Common Stock
AYLA
+$6.47M

Top Sells

Rank Stock Value
1
BIIB icon
Biogen
BIIB
+$30.7M
2
ALEC icon
Alector
ALEC
+$14.1M
3
CRSP icon
CRISPR Therapeutics
CRSP
+$11.5M
4
ANVS icon
Annovis Bio
ANVS
+$8.86M
5
CGEM icon
Cullinan Oncology
CGEM
+$7.61M

Sector Composition

Rank Sector Weight
1 Healthcare 30.01%
2 Consumer Staples 0.24%
3 Technology 0.17%
4 Financials 0.05%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$777B
$129M 9.07%
+300,000
New +$132M
XBI icon
2
PUT
State Street SPDR S&P Biotech ETF
XBI
$10.1B
$81.7M 5.75%
+650,000
New +$83.7M
RETA
3
PUT
DELISTED
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
$47.4M 3.34%
471,400
+296,500
+170% +$34.8M
BIIB icon
4
CALL
Biogen
BIIB
$29.9B
$47.4M 3.34%
167,500
-102,500
-38% -$33.6M
HZNP
5
CALL
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
$46.2M 3.25%
421,900
+171,900
+69% +$17.8M
CLDX icon
6
CALL
Celldex Therapeutics
CLDX
$2.75B
$42.7M 3.01%
791,600
+191,600
+32% +$8.99M
UNH icon
7
CALL
UnitedHealth
UNH
$382B
$39.1M 2.75%
+100,000
New +$41.4M
XBI icon
8
CALL
State Street SPDR S&P Biotech ETF
XBI
$10.1B
$37.7M 2.66%
+300,000
New +$38.6M
ALNY icon
9
CALL
Alnylam Pharmaceuticals
ALNY
$36.2B
$33.9M 2.39%
179,800
-15,900
-8% -$2.98M
SRPT icon
10
CALL
Sarepta Therapeutics
SRPT
$1.67B
$33.4M 2.36%
361,700
+311,700
+623% +$24M
CLDX icon
11
PUT
Celldex Therapeutics
CLDX
$2.75B
$28.1M 1.98%
520,200
+504,200
+3,151% +$23.7M
CMPS
12
CALL
Compass Pathways
CMPS
$1.52B
$25.3M 1.78%
+848,100
New +$28.5M
CRSP icon
13
PUT
CRISPR Therapeutics
CRSP
$4.57B
$22.1M 1.56%
197,300
-2,700
-1% -$339K
BCYC
14
Bicycle Therapeutics
BCYC
$274M
$21.9M 1.54%
+526,500
New +$18.4M
RFL icon
15
CALL
Rafael Holdings
RFL
$109M
$17.8M 1.26%
+588,526
New +$27M
GOSS icon
16
Gossamer Bio
GOSS
$66.1M
$17M 1.2%
1,351,933
+303,550
+29% +$2.79M
KOD icon
17
CALL
Kodiak Sciences
KOD
$2.61B
$16.1M 1.13%
167,900
+95,600
+132% +$8.83M
ALLK
18
CALL
DELISTED
Allakos
ALLK
$16M 1.12%
150,800
+69,300
+85% +$6.19M
KRYS icon
19
PUT
Krystal Biotech
KRYS
$9.87B
$15.3M 1.08%
+292,500
New +$17.3M
KRYS icon
20
CALL
Krystal Biotech
KRYS
$9.87B
$14.7M 1.04%
+282,300
New +$16.7M
CLDX icon
21
Celldex Therapeutics
CLDX
$2.75B
$14.6M 1.03%
270,431
-95,113
-26% -$4.46M
NVAX icon
22
CALL
Novavax
NVAX
$1.24B
$14.5M 1.02%
+70,000
New +$15.4M
CABA icon
23
Cabaletta Bio
CABA
$442M
$14.4M 1.02%
1,187,898
+240,770
+25% +$2.22M
XFOR icon
24
X4 Pharmaceuticals
XFOR
$365M
$13.4M 0.95%
84,664
-5,979
-7% -$984K
ZNTL icon
25
CALL
Zentalis Pharmaceuticals
ZNTL
$305M
$13.3M 0.94%
+200,000
New +$11.5M
1
2 3 4 5

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Ikarian Capital's Q3 2021 Portfolio in Review

As of Q3 2021, Ikarian Capital held 267 positions worth $1.42B, up 15% from $1.24B the previous quarter. Its ten largest holdings account for 38% of the portfolio.

Ikarian Capital deployed $291M of net new capital in Q3 2021, opening 57 new positions and adding to 30 existing holdings. Its largest new stake was Apellis Pharmaceuticals: 347,545 shares worth $11.5M.

By sector, the portfolio is most concentrated in Healthcare at 30% of assets, down from 44% a quarter earlier, followed by Consumer Staples and Technology.

On the sell side, the largest reduction was Biogen, an estimated $30.7M trimmed.

  • Ikarian Capital's largest Q3 2021 buy was Apellis Pharmaceuticals: 347,545 shares worth $11.5M.
  • Ikarian Capital added most to Inhibrx, Inc. Common Stock in Q3 2021, an estimated $8.57M increase.
  • Ikarian Capital's biggest Q3 2021 reduction was Biogen, cutting an estimated $30.7M.
  • Ikarian Capital fully exited Alector in Q3 2021, selling an estimated $14.1M.
  • Ikarian Capital's ten largest holdings make up 38% of its $1.42B portfolio in Q3 2021.
  • Ikarian Capital opened 57 new positions and closed 58 in Q3 2021.
  • Ikarian Capital's portfolio value rose 15% quarter-over-quarter to $1.42B.

Based on Ikarian Capital's 13F filing for Q3 2021, filed 15 Nov 2021.