Ghost Tree Capital, LLC
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Ghost Tree Capital, LLC reported 51 stock positions worth $293.2 million. Its top holding was Biohaven at 5.9% of the portfolio, followed by Sarepta Therapeutics (SRPT, 5.1%) and Novo-Nordisk A/S-Spons ADR (NVO, 4.5%). Compared with Q2 2024, it opened 10 new positions, sold out of 18, added to 16 and reduced 22. The biggest buy was a new position in Biohaven and the biggest sale an exit from Biohaven (BHVN).
- Most Recent 13F
- Q3 2024
- Location
- NEW YORK, NY
- CIK
- 0001595851
- Portfolio Value
- $293.2M (Q3 2024)
- SEC Filing
- 0001420506-24-002434 ↗ filed Nov 14, 2024
Holdings Value
Holdings 51 stocks · $293.2M
| BIOHAVEN LTD | 5.94% | 348,778 | $17.4M | New |
| SRPT Sarepta Therapeutics Inc. | 5.11% | 120,000 | $15.0M | Add +118.2% |
| NVO Novo-Nordisk A/S-Spons ADR | 4.47% | 110,000 | $13.1M | New |
| BPMC Blueprint Medicines Corp. | 4.42% | 140,000 | $12.9M | Add +250.0% |
| AXSM Axsome Therapeutics Inc. | 4.14% | 135,000 | $12.1M | Reduce -10.0% |
| TARS Tarsus Pharmaceuticals Inc. | 3.93% | 350,000 | $11.5M | Add +48.9% |
| CATX Perspective Therapeutics Inc. | 3.41% | 750,000 | $10.0M | Reduce -18.9% |
| CGON CG Oncology Inc. | 3.22% | 250,000 | $9.4M | Reduce -3.9% |
| ROIV Roivant Sciences Ltd. | 3.15% | 800,000 | $9.2M | Reduce -20.0% |
| PCVX Vaxcyte Inc. | 3.12% | 80,000 | $9.1M | Reduce -46.7% |
| VKTX Viking Therapeutics Inc. | 3.02% | 140,000 | $8.9M | Add +47.4% |
| SNDX Syndax Pharmaceuticals Inc. | 2.95% | 450,000 | $8.7M | Add +28.6% |
| JANX Janux Therapeutics Inc. | 2.94% | 190,000 | $8.6M | Add +280.0% |
| ASND Ascendis Pharma A/S | 2.67% | 52,500 | $7.8M | Reduce -39.5% |
| CRNX Crinetics Pharmaceuticals Inc. | 2.61% | 150,000 | $7.7M | Reduce -37.5% |
| SLNO Soleno Therapeutics Inc. | 2.58% | 150,000 | $7.6M | Reduce -50.0% |
| TGTX TG Therapeutics Inc. | 2.47% | 310,000 | $7.3M | Reduce -38.0% |
| RZLT Rezolute Inc. | 2.44% | 1,474,995 | $7.2M | Add +3.8% |
| PHAT Phathom Pharmaceuticals Inc. | 2.31% | 375,000 | $6.8M | Reduce -37.5% |
| MLTX Moonlake Immunotherapeutics | 2.21% | 128,411 | $6.5M | Reduce -57.2% |
| OLMA Olema Pharmaceuticals Inc. | 2.18% | 535,000 | $6.4M | Reduce -2.7% |
| IMVT Immunovant Inc. | 2.09% | 215,000 | $6.1M | Reduce -17.3% |
| INSM Insmed Inc. | 1.87% | 75,000 | $5.5M | Add +15.4% |
| EWTX Edgewise Therapeutics Inc. | 1.77% | 195,000 | $5.2M | New |
| REPL Replimune Group Inc. | 1.68% | 450,000 | $4.9M | No change |
| BBIO Bridgebio Pharma Inc. | 1.52% | 175,000 | $4.5M | Add +25.0% |
| TSHA Taysha Gene Therapies Inc. | 1.47% | 2,150,000 | $4.3M | Add +72.0% |
| RYTM Rhythm Pharmaceuticals Inc. | 1.41% | 78,842 | $4.1M | Reduce -32.8% |
| ANNX Annexon Inc. | 1.31% | 650,000 | $3.8M | Add +109.7% |
| KRRO Korro Bio Inc. | 1.25% | 110,000 | $3.7M | Add +10.0% |
| DYN Dyne Therapeutics Inc. | 1.23% | 100,000 | $3.6M | New |
| ARVN Arvinas Inc. | 1.22% | 145,000 | $3.6M | Add +93.3% |
| CRBP Corbus Pharmaceuticals Holdi | 1.13% | 160,000 | $3.3M | Reduce -8.6% |
| BBOT Bridgebio Oncology Therapeut filed as HELIX ACQUISITION CORP II | 1.07% | 300,000 | $3.1M | No change |
| NUVB Nuvation Bio Inc. | 1.05% | 1,350,000 | $3.1M | Add +17.4% |
| SVRA Savara Inc. | 1.05% | 725,000 | $3.1M | Reduce -31.0% |
| TNYA Tenaya Therapeutics Inc. | 0.99% | 1,500,000 | $2.9M | Add +11.1% |
| RGNX Regenxbio Inc. | 0.95% | 265,000 | $2.8M | Add +55.9% |
| CRVS Corvus Pharmaceuticals Inc. | 0.90% | 500,000 | $2.6M | New |
| ABSI Absci Corp. | 0.72% | 550,000 | $2.1M | New |
| NGNE Neurogene Inc. | 0.72% | 50,000 | $2.1M | Reduce -28.6% |
| CAPR Capricor Therapeutics Inc. | 0.65% | 125,000 | $1.9M | New |
| APLS Apellis Pharmaceuticals Inc. | 0.64% | 65,000 | $1.9M | Reduce -51.9% |
| SMMT Summit Therapeutics Inc. | 0.63% | 85,000 | $1.9M | New |
| SYRE Spyre Therapeutics Inc. | 0.60% | 60,000 | $1.8M | Reduce -76.0% |
| VRDN Viridian Therapeutics Inc. | 0.58% | 75,000 | $1.7M | Reduce -87.2% |
| PRQR Proqr Therapeutics NV | 0.55% | 887,700 | $1.6M | Reduce -1.4% |
| ATYR Atyr Pharma Inc. | 0.48% | 800,000 | $1.4M | No change |
| LRMR Larimar Therapeutics Inc. | 0.45% | 200,000 | $1.3M | New |
| ENGN Engene Holdings Inc. | 0.36% | 160,898 | $1.1M | Reduce -61.7% |
| AMLX Amylyx Pharmaceuticals Inc. | 0.36% | 325,000 | $1.1M | New |
Options reported separately and not counted above: XBI puts ($29.6M), CRBP puts ($4.5M), INSM calls ($3.6M).
Portfolio Sells Q2 2024 → Q3 2024
| BHVN Biohaven Ltd. | Sold out | 0.00% | −5.92 |
| MLTX Moonlake Immunotherapeutics | Reduce -57.2% | 2.21% | −2.38 |
| VRDN Viridian Therapeutics Inc. | Reduce -87.2% | 0.58% | −2.08 |
| ALNY Alnylam Pharmaceuticals Inc. | Sold out | 0.00% | −1.90 |
| SLNO Soleno Therapeutics Inc. | Reduce -50.0% | 2.58% | −1.68 |
| CRBP Corbus Pharmaceuticals Holdi | Reduce -8.6% | 1.13% | −1.63 |
| SYRE Spyre Therapeutics Inc. | Reduce -76.0% | 0.60% | −1.45 |
| ASND Ascendis Pharma A/S | Reduce -39.5% | 2.67% | −1.44 |
| ACAD Acadia Pharmaceuticals Inc. | Sold out | 0.00% | −1.27 |
| APLS Apellis Pharmaceuticals Inc. | Reduce -51.9% | 0.64% | −1.16 |
| CRNX Crinetics Pharmaceuticals Inc. | Reduce -37.5% | 2.61% | −1.13 |
| ENGN Engene Holdings Inc. | Reduce -61.7% | 0.36% | −1.02 |
| CABA Cabaletta Bio Inc. | Sold out | 0.00% | −0.97 |
| PCVX Vaxcyte Inc. | Reduce -46.7% | 3.12% | −0.82 |
| CYTK Cytokinetics Inc. | Sold out | 0.00% | −0.63 |
| TGTX TG Therapeutics Inc. | Reduce -38.0% | 2.47% | −0.62 |
| ELEV Elevation Oncology Inc. | Sold out | 0.00% | −0.56 |
| KRYS Krystal Biotech Inc. | Sold out | 0.00% | −0.54 |
| ROIV Roivant Sciences Ltd. | Reduce -20.0% | 3.15% | −0.53 |
| SVRA Savara Inc. | Reduce -31.0% | 1.05% | −0.43 |
| WVE Wave Life Sciences Ltd. | Sold out | 0.00% | −0.35 |
| ARWR Arrowhead Pharmaceuticals Inc. | Sold out | 0.00% | −0.32 |
| IMVT Immunovant Inc. | Reduce -17.3% | 2.09% | −0.30 |
| RYTM Rhythm Pharmaceuticals Inc. | Reduce -32.8% | 1.41% | −0.27 |
| SGMT Sagimet Biosciences Inc. Class A | Sold out | 0.00% | −0.27 |
| ITCI Intra-Cellular Therapies Inc. | Sold out | 0.00% | −0.24 |
| MGNX Macrogenics Inc. | Sold out | 0.00% | −0.22 |
| PMVP PMV Pharmaceuticals Inc. | Sold out | 0.00% | −0.21 |
| PTCT PTC Therapeutics Inc. | Sold out | 0.00% | −0.20 |
| RVNC Revance Therapeutics Inc. | Sold out | 0.00% | −0.20 |
| NTLA Intellia Therapeutics Inc. | Sold out | 0.00% | −0.19 |
| NGNE Neurogene Inc. | Reduce -28.6% | 0.72% | −0.17 |
| ANTX AN2 Therapeutics Inc. | Sold out | 0.00% | −0.16 |
| CTMX Cytomx Therapeutics Inc. | Sold out | 0.00% | −0.13 |
| AXSM Axsome Therapeutics Inc. | Reduce -10.0% | 4.14% | −0.06 |
| PRQR Proqr Therapeutics NV | Reduce -1.4% | 0.55% | +0.03 |
| OLMA Olema Pharmaceuticals Inc. | Reduce -2.7% | 2.18% | +0.11 |
| PHAT Phathom Pharmaceuticals Inc. | Reduce -37.5% | 2.31% | +0.16 |
| CATX Perspective Therapeutics Inc. | Reduce -18.9% | 3.41% | +0.21 |
| CGON CG Oncology Inc. | Reduce -3.9% | 3.22% | +0.36 |
Portfolio Buys Q2 2024 → Q3 2024
| BIOHAVEN LTD | New | 5.94% | +5.94 |
| NVO Novo-Nordisk A/S-Spons ADR | New | 4.47% | +4.47 |
| BPMC Blueprint Medicines Corp. | Add +250.0% | 4.42% | +2.92 |
| JANX Janux Therapeutics Inc. | Add +280.0% | 2.94% | +2.21 |
| SRPT Sarepta Therapeutics Inc. | Add +118.2% | 5.11% | +2.09 |
| EWTX Edgewise Therapeutics Inc. | New | 1.77% | +1.77 |
| TARS Tarsus Pharmaceuticals Inc. | Add +48.9% | 3.93% | +1.70 |
| VKTX Viking Therapeutics Inc. | Add +47.4% | 3.02% | +1.27 |
| DYN Dyne Therapeutics Inc. | New | 1.23% | +1.23 |
| CRVS Corvus Pharmaceuticals Inc. | New | 0.90% | +0.90 |
| ANNX Annexon Inc. | Add +109.7% | 1.31% | +0.78 |
| ABSI Absci Corp. | New | 0.72% | +0.72 |
| CAPR Capricor Therapeutics Inc. | New | 0.65% | +0.65 |
| SMMT Summit Therapeutics Inc. | New | 0.63% | +0.63 |
| ARVN Arvinas Inc. | Add +93.3% | 1.22% | +0.52 |
| TSHA Taysha Gene Therapies Inc. | Add +72.0% | 1.47% | +0.50 |
| SNDX Syndax Pharmaceuticals Inc. | Add +28.6% | 2.95% | +0.45 |
| LRMR Larimar Therapeutics Inc. | New | 0.45% | +0.45 |
| AMLX Amylyx Pharmaceuticals Inc. | New | 0.36% | +0.36 |
| INSM Insmed Inc. | Add +15.4% | 1.87% | +0.35 |
| RZLT Rezolute Inc. | Add +3.8% | 2.44% | +0.31 |
| BBIO Bridgebio Pharma Inc. | Add +25.0% | 1.52% | +0.29 |
| RGNX Regenxbio Inc. | Add +55.9% | 0.95% | +0.26 |
| KRRO Korro Bio Inc. | Add +10.0% | 1.25% | +0.08 |
| NUVB Nuvation Bio Inc. | Add +17.4% | 1.05% | −0.11 |
| TNYA Tenaya Therapeutics Inc. | Add +11.1% | 0.99% | −0.47 |
Options Activity Q2 2024 → Q3 2024
| XBI SS SPDR S&P Biotech ETF | put | New | 300,000 | $29.6M |
| ALNY Alnylam Pharmaceuticals Inc. | put | Sold out | 68,400 | $16.6Mbefore exit |
| CRBP Corbus Pharmaceuticals Holdi | put | New | 220,000 | $4.5M |
| INSM Insmed Inc. | call | Reduce -75.0% | 50,000 | $3.6M |
| ANNX Annexon Inc. | call | Sold out | 214,500 | $1.1Mbefore exit |
| RAPT THERAPEUTICS INC | call | Sold out | 300,000 | $915Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.