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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
-12.02%
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
$760M
AUM Growth
+$89.2M
Cap. Flow
+$192M
Cap. Flow %
25.21%
Top 10 Hldgs %
39.48%
Holding
222
New
36
Increased
135
Reduced
20
Closed
26

Top Buys

Rank Stock Value
1
SAGE
Sage Therapeutics
SAGE
+$9.39M
2
AMLX icon
Amylyx Pharmaceuticals
AMLX
+$8.96M
3
BHVN
Biohaven Pharmaceutical Holding Company Ltd.
BHVN
+$7.48M
4
VRTX icon
Vertex Pharmaceuticals
VRTX
+$5.93M
5
KRTX
Karuna Therapeutics, Inc. Common Stock
KRTX
+$5.63M

Top Sells

Rank Stock Value
1
SRRA
Sierra Oncology, Inc. Common Stock
SRRA
+$10.1M
2
BCYC
Bicycle Therapeutics
BCYC
+$6.27M
3
BIIB icon
Biogen
BIIB
+$6.18M
4
GOSS icon
Gossamer Bio
GOSS
+$3.78M
5
IBB icon
iShares Biotechnology ETF
IBB
+$3.67M

Sector Composition

Rank Sector Weight
1 Healthcare 42.6%
2 Consumer Staples 0.27%
3 Technology 0.24%
4 Financials 0.1%
5 Real Estate 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
XBI icon
1
CALL
State Street SPDR S&P Biotech ETF
XBI
$10.1B
$84.1M 11.06%
935,600
+843,200
+913% +$77.9M
NBIX icon
2
CALL
Neurocrine Biosciences
NBIX
$17.7B
$40.3M 5.3%
+429,600
New +$36.4M
BMRN icon
3
CALL
BioMarin Pharmaceuticals
BMRN
$11.5B
$24.2M 3.18%
313,800
+213,800
+214% +$17.9M
AMGN icon
4
CALL
Amgen
AMGN
$203B
$24.2M 3.18%
+100,000
New +$23M
BIIB icon
5
CALL
Biogen
BIIB
$29.9B
$23.6M 3.11%
+112,200
New +$24.4M
ALNY icon
6
CALL
Alnylam Pharmaceuticals
ALNY
$36.3B
$22.1M 2.9%
135,200
-43,100
-24% -$6.57M
RETA
7
PUT
DELISTED
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
$21.3M 2.8%
649,600
+549,600
+550% +$16.3M
BCYC
8
Bicycle Therapeutics
BCYC
$270M
$21M 2.76%
478,784
-134,342
-22% -$6.27M
CLDX icon
9
PUT
Celldex Therapeutics
CLDX
$2.77B
$20.3M 2.67%
595,500
+144,300
+32% +$4.61M
ALNY icon
10
PUT
Alnylam Pharmaceuticals
ALNY
$36.3B
$19.2M 2.53%
+117,800
New +$17.9M
CLDX icon
11
Celldex Therapeutics
CLDX
$2.77B
$18.3M 2.41%
537,958
+118,742
+28% +$3.8M
KZR
12
DELISTED
Kezar Life Sciences
KZR
$18M 2.37%
108,312
+6,220
+6% +$893K
UTHR icon
13
CALL
United Therapeutics
UTHR
$26.3B
$17.9M 2.36%
+100,000
New +$19.1M
HZNP
14
CALL
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
$16.6M 2.19%
158,100
-88,800
-36% -$8.65M
MIST icon
15
Milestone Pharmaceuticals
MIST
$144M
$12.4M 1.63%
1,928,752
+178,709
+10% +$1.12M
CLDX icon
16
CALL
Celldex Therapeutics
CLDX
$2.77B
$11.7M 1.54%
344,100
-249,700
-42% -$7.98M
BCYC
17
CALL
Bicycle Therapeutics
BCYC
$270M
$11.6M 1.53%
+264,700
New +$12.4M
HZNP
18
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
$11.6M 1.52%
110,116
+34,455
+46% +$3.36M
GILD icon
19
CALL
Gilead Sciences
GILD
$161B
$10.8M 1.42%
+181,300
New +$11.6M
GILD icon
20
PUT
Gilead Sciences
GILD
$161B
$10.8M 1.42%
+181,300
New +$11.6M
LONA
21
CALL
LeonaBio Inc
LONA
$69.4M
$10.6M 1.39%
78,420
-7,580
-9% -$799K
ACET icon
22
Adicet Bio
ACET
$72.8M
$10.1M 1.33%
31,709
+1,870
+6% +$430K
ZNTL icon
23
Zentalis Pharmaceuticals
ZNTL
$308M
$9.33M 1.23%
202,203
+11,063
+6% +$597K
APLS
24
CALL
DELISTED
Apellis Pharmaceuticals
APLS
$8.9M 1.17%
175,100
-24,900
-12% -$1.1M
SAGE
25
CALL
DELISTED
Sage Therapeutics
SAGE
$8.28M 1.09%
250,000
+245,500
+5,456% +$9.23M
1
2 3 4 5

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Ikarian Capital's Q1 2022 Portfolio in Review

As of Q1 2022, Ikarian Capital held 222 positions worth $760M, up 13% from $671M the previous quarter. Its ten largest holdings account for 39% of the portfolio.

Ikarian Capital deployed $192M of net new capital in Q1 2022, opening 36 new positions and adding to 135 existing holdings. Its largest new stake was Sage Therapeutics: 249,907 shares worth $8.27M.

By sector, the portfolio is most concentrated in Healthcare at 43% of assets, down from 51% a quarter earlier, followed by Consumer Staples and Technology.

On the sell side, the largest reduction was Sierra Oncology, Inc. Common Stock, an estimated $10.1M trimmed.

  • Ikarian Capital's largest Q1 2022 buy was Sage Therapeutics: 249,907 shares worth $8.27M.
  • Ikarian Capital added most to BELLUS Health Inc. in Q1 2022, an estimated $5.56M increase.
  • Ikarian Capital's biggest Q1 2022 reduction was Sierra Oncology, Inc. Common Stock, cutting an estimated $10.1M.
  • Ikarian Capital fully exited iShares Biotechnology ETF in Q1 2022, selling an estimated $3.67M.
  • Ikarian Capital's ten largest holdings make up 39% of its $760M portfolio in Q1 2022.
  • Ikarian Capital opened 36 new positions and closed 26 in Q1 2022.
  • Ikarian Capital's portfolio value rose 13% quarter-over-quarter to $760M.

Based on Ikarian Capital's 13F filing for Q1 2022, filed 13 May 2022.