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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
+73.06%
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
$912M
AUM Growth
-$156M
Cap. Flow
-$86.3M
Cap. Flow %
-9.46%
Top 10 Hldgs %
35.78%
Holding
190
New
54
Increased
34
Reduced
35
Closed
53

Top Buys

Rank Stock Value
1
CRBP icon
Corbus Pharmaceuticals
CRBP
+$8.96M
2
CYTK icon
Cytokinetics
CYTK
+$8.91M
3
ALNY icon
Alnylam Pharmaceuticals
ALNY
+$8.6M
4
JBIO
Jade Biosciences
JBIO
+$8.03M
5
PYXS icon
Pyxis Oncology
PYXS
+$6.99M

Top Sells

Rank Stock Value
1
ARGX icon
argenx
ARGX
+$26.5M
2
LBPH
Longboard Pharmaceuticals, Inc. Common Stock
LBPH
+$21.4M
3
XHB icon
State Street SPDR S&P Homebuilders ETF
XHB
+$19.1M
4
NUVL
Nuvalent
NUVL
+$12.5M
5
IRON icon
Disc Medicine
IRON
+$11M

Sector Composition

Rank Sector Weight
1 Miscellaneous 59.69%
2 Healthcare 40.31%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KRYS icon
1
PUT
Krystal Biotech
KRYS
$10.4B
$66.7M 7.32%
375,000
-37,000
-9% -$5.14M
XBI icon
2
PUT
State Street SPDR S&P Biotech ETF
XBI
$11.3B
$66.4M 7.28%
700,000
+150,000
+27% +$13.9M
CRNX
3
DELISTED
Crinetics Pharmaceuticals
CRNX
$30.1M 3.3%
643,751
-36,619
-5% -$1.43M
TARS icon
4
Tarsus Pharmaceuticals
TARS
$3.83B
$25.8M 2.83%
710,277
+191,758
+37% +$5.64M
CORT icon
5
PUT
Corcept Therapeutics
CORT
$12.3B
$25.1M 2.75%
994,500
+723,200
+267% +$17.1M
IRON icon
6
PUT
Disc Medicine
IRON
$2.95B
$24.7M 2.71%
+396,600
New +$25.7M
SLNO
7
DELISTED
Soleno Therapeutics
SLNO
$24.2M 2.65%
565,411
-24,832
-4% -$1.12M
CRBP icon
8
Corbus Pharmaceuticals
CRBP
$205M
$21.9M 2.41%
559,271
+363,372
+185% +$8.96M
AZN icon
9
CALL
AstraZeneca
AZN
$248B
$20.9M 2.3%
+154,600
New +$20.5M
ALNY icon
10
PUT
Alnylam Pharmaceuticals
ALNY
$34.8B
$20.4M 2.24%
136,700
+38,100
+39% +$6.36M
SRPT icon
11
Sarepta Therapeutics
SRPT
$2.21B
$19.7M 2.16%
152,278
+19,638
+15% +$2.41M
ALNY icon
12
CALL
Alnylam Pharmaceuticals
ALNY
$34.8B
$18.1M 1.98%
120,800
-48,900
-29% -$8.16M
KRYS icon
13
CALL
Krystal Biotech
KRYS
$10.4B
$17.8M 1.95%
100,000
– –
AMGN icon
14
CALL
Amgen
AMGN
$213B
$17.1M 1.87%
60,000
+25,000
+71% +$7.32M
VKTX icon
15
PUT
Viking Therapeutics
VKTX
$3.93B
$16.4M 1.8%
+200,000
New +$8.9M
BMEA icon
16
CALL
Biomea Fusion
BMEA
$140M
$16.1M 1.77%
1,077,600
+300,000
+39% +$4.94M
SRPT icon
17
CALL
Sarepta Therapeutics
SRPT
$2.21B
$15M 1.65%
116,100
-66,500
-36% -$8.15M
CRNX
18
PUT
DELISTED
Crinetics Pharmaceuticals
CRNX
$14.1M 1.54%
+300,400
New +$11.8M
MDGL icon
19
PUT
Madrigal Pharmaceuticals
MDGL
$12.3B
$13.7M 1.5%
+51,400
New +$12.1M
EYPT icon
20
PUT
EyePoint Inc
EYPT
$393M
$13.6M 1.49%
658,200
+375,000
+132% +$9.28M
BHVN icon
21
CALL
Biohaven
BHVN
$2.22B
$12.2M 1.34%
+223,700
New +$11.1M
BBIO icon
22
CALL
BridgeBio Pharma
BBIO
$14.6B
$12M 1.32%
+389,400
New +$13.2M
JBIO
23
Jade Biosciences
JBIO
$1.24B
$10.9M 1.19%
+10,513
New +$8.03M
LNTH icon
24
CALL
Lantheus
LNTH
$6.56B
$10.6M 1.16%
170,000
-100,000
-37% -$5.88M
SLRN
25
DELISTED
ACELYRIN
SLRN
$10.6M 1.16%
1,564,340
-426,665
-21% -$3.24M
1
2 3 4 5

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Ikarian Capital's Q1 2024 Portfolio in Review

As of Q1 2024, Ikarian Capital held 190 positions worth $912M, down 15% from $1.07B the previous quarter. Its ten largest holdings account for 36% of the portfolio.

Ikarian Capital withdrew a net $86.3M in Q1 2024, closing 53 positions and reducing 35 holdings. Its most notable exit was argenx, an estimated $26.5M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 60% of assets, down from 68% a quarter earlier, followed by Healthcare.

Against the trend, Ikarian Capital opened a new position in Alnylam Pharmaceuticals worth $7.7M.

  • Ikarian Capital's largest Q1 2024 buy was Alnylam Pharmaceuticals: 51,541 shares worth $7.7M.
  • Ikarian Capital added most to Corbus Pharmaceuticals in Q1 2024, an estimated $8.96M increase.
  • Ikarian Capital's biggest Q1 2024 reduction was Longboard Pharmaceuticals, Inc. Common Stock, cutting an estimated $21.4M.
  • Ikarian Capital fully exited argenx in Q1 2024, selling an estimated $26.5M.
  • Ikarian Capital's ten largest holdings make up 36% of its $912M portfolio in Q1 2024.
  • Ikarian Capital opened 54 new positions and closed 53 in Q1 2024.
  • Ikarian Capital's portfolio value fell 15% quarter-over-quarter to $912M.

Based on Ikarian Capital's 13F filing for Q1 2024, filed 15 May 2024.