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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
+16.37%
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
$441M
AUM Growth
+$26.2M
Cap. Flow
+$45.7M
Cap. Flow %
10.38%
Top 10 Hldgs %
36.84%
Holding
138
New
52
Increased
12
Reduced
20
Closed
21

Top Buys

Rank Stock Value
1
MRK icon
Merck
MRK
+$10.8M
2
INSM icon
Insmed
INSM
+$9.42M
3
BBIO icon
BridgeBio Pharma
BBIO
+$6.93M
4
APLS
Apellis Pharmaceuticals
APLS
+$5.77M
5
BCYC
Bicycle Therapeutics
BCYC
+$5.19M

Top Sells

Rank Stock Value
1
RXDX
Prometheus Biosciences, Inc. Common Stock
RXDX
+$18.8M
2
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
+$10.2M
3
CLDX icon
Celldex Therapeutics
CLDX
+$6.97M
4
BHVN icon
Biohaven
BHVN
+$6.93M
5
ETNB
89bio
ETNB
+$5.78M

Sector Composition

Rank Sector Weight
1 Healthcare 53.48%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SRPT icon
1
PUT
Sarepta Therapeutics
SRPT
$1.66B
$37.4M 8.48%
+271,300
New +$35.2M
SRPT icon
2
CALL
Sarepta Therapeutics
SRPT
$1.66B
$28.3M 6.42%
+205,400
New +$26.6M
ITCI
3
CALL
DELISTED
Intra-Cellular Therapies Inc.
ITCI
$20.6M 4.67%
+380,000
New +$18.4M
RXDX
4
DELISTED
Prometheus Biosciences, Inc. Common Stock
RXDX
$13.5M 3.07%
125,926
-163,000
-56% -$18.8M
IMVT icon
5
Immunovant
IMVT
$8.09B
$12M 2.73%
774,398
-192,302
-20% -$3.34M
ATXS
6
DELISTED
Astria Therapeutics
ATXS
$11.6M 2.62%
869,390
+194,214
+29% +$2.63M
MRK icon
7
Merck
MRK
$324B
$10.6M 2.41%
+100,000
New +$10.8M
BBIO icon
8
BridgeBio Pharma
BBIO
$16.5B
$9.86M 2.24%
+594,686
New +$6.93M
AXSM icon
9
CALL
Axsome Therapeutics
AXSM
$12.4B
$9.25M 2.1%
+150,000
New +$9.85M
AXSM icon
10
PUT
Axsome Therapeutics
AXSM
$12.4B
$9.25M 2.1%
+150,000
New +$9.85M
BBIO icon
11
CALL
BridgeBio Pharma
BBIO
$16.5B
$9.11M 2.07%
+549,600
New +$6.41M
RETA
12
CALL
DELISTED
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
$9.09M 2.06%
+100,000
New +$5.87M
BMEA icon
13
CALL
Biomea Fusion
BMEA
$90.4M
$9.02M 2.05%
+291,000
New +$3.62M
TERN
14
DELISTED
Terns Pharmaceuticals
TERN
$8.54M 1.94%
721,341
-15,978
-2% -$153K
PCVX icon
15
Vaxcyte
PCVX
$7.89B
$8.43M 1.91%
225,000
-25,000
-10% -$1.06M
INSM icon
16
Insmed
INSM
$23.2B
$8.27M 1.88%
+485,000
New +$9.42M
MORF
17
CALL
DELISTED
Morphic Holding, Inc. Common Stock
MORF
$8.03M 1.82%
+213,400
New +$7.86M
XBI icon
18
PUT
State Street SPDR S&P Biotech ETF
XBI
$10.1B
$7.62M 1.73%
100,000
– –
RETA
19
DELISTED
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
$7.32M 1.66%
+80,564
New +$4.73M
APLS
20
DELISTED
Apellis Pharmaceuticals
APLS
$6.6M 1.5%
+100,000
New +$5.77M
KDNY
21
DELISTED
Chinook Therapeutics, Inc. Common Stock
KDNY
$6.56M 1.49%
283,464
– –
BMEA icon
22
Biomea Fusion
BMEA
$90.4M
$6.54M 1.48%
+210,975
New +$2.62M
BLU
23
DELISTED
BELLUS Health Inc.
BLU
$6.37M 1.45%
885,334
– –
ACRS icon
24
PUT
Aclaris Therapeutics
ACRS
$730M
$5.92M 1.34%
+732,000
New +$9.29M
XENE icon
25
Xenon Pharmaceuticals
XENE
$6.32B
$5.74M 1.3%
160,486
– –
1
2 3 4 5

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Ikarian Capital's Q1 2023 Portfolio in Review

As of Q1 2023, Ikarian Capital held 138 positions worth $441M, up 6.3% from $415M the previous quarter. Its ten largest holdings account for 37% of the portfolio.

Ikarian Capital deployed $45.7M of net new capital in Q1 2023, opening 52 new positions and adding to 12 existing holdings. Its largest new stake was Merck: 100,000 shares worth $10.6M.

By sector, the portfolio is most concentrated in Healthcare at 53% of assets, down from 58% a quarter earlier.

On the sell side, the largest reduction was Prometheus Biosciences, Inc. Common Stock, an estimated $18.8M trimmed.

  • Ikarian Capital's largest Q1 2023 buy was Merck: 100,000 shares worth $10.6M.
  • Ikarian Capital added most to Altimmune in Q1 2023, an estimated $4.8M increase.
  • Ikarian Capital's biggest Q1 2023 reduction was Prometheus Biosciences, Inc. Common Stock, cutting an estimated $18.8M.
  • Ikarian Capital fully exited Horizon Therapeutics Public Limited Company Ordinary Shares in Q1 2023, selling an estimated $10.2M.
  • Ikarian Capital's ten largest holdings make up 37% of its $441M portfolio in Q1 2023.
  • Ikarian Capital opened 52 new positions and closed 21 in Q1 2023.
  • Ikarian Capital's portfolio value rose 6.3% quarter-over-quarter to $441M.

Based on Ikarian Capital's 13F filing for Q1 2023, filed 15 May 2023.