Ghost Tree Capital, LLC
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 14, 2024), Ghost Tree Capital, LLC reported 59 stock positions worth $287.4 million. Its top holding was Biohaven (BHVN) at 5.9% of the portfolio, followed by Moonlake Immunotherapeutics (MLTX, 4.6%) and Soleno Therapeutics (SLNO, 4.3%). Compared with Q1 2024, it opened 12 new positions, sold out of 18, added to 22 and reduced 18. The biggest buy was a new position in Ascendis Pharma A/S (ASND) and the biggest sale an exit from Perspective Therapeutics (CATX).
- Most Recent 13F
- Q3 2024
- Location
- NEW YORK, NY
- CIK
- 0001595851
- Portfolio Value
- $287.4M (Q2 2024)
- SEC Filing
- 0001420506-24-001501 ↗ filed Aug 14, 2024
Holdings Value
Holdings 59 stocks · $287.4M
| BHVN Biohaven Ltd. | 5.92% | 490,000 | $17.0M | Add +71.9% |
| MLTX Moonlake Immunotherapeutics | 4.59% | 300,000 | $13.2M | No change |
| SLNO Soleno Therapeutics Inc. | 4.26% | 300,000 | $12.2M | Add +50.0% |
| AXSM Axsome Therapeutics Inc. | 4.20% | 150,000 | $12.1M | Reduce -28.6% |
| ASND Ascendis Pharma A/S | 4.12% | 86,721 | $11.8M | New |
| PCVX Vaxcyte Inc. | 3.94% | 150,000 | $11.3M | Add +57.9% |
| CRNX Crinetics Pharmaceuticals Inc. | 3.74% | 240,000 | $10.7M | Add +20.0% |
| ROIV Roivant Sciences Ltd. | 3.68% | 1,000,000 | $10.6M | Reduce -23.1% |
| CATX Perspective Therapeutics Inc. | 3.21% | 925,000 | $9.2M | New |
| TGTX TG Therapeutics Inc. | 3.10% | 500,000 | $8.9M | Reduce -39.4% |
| SRPT Sarepta Therapeutics Inc. | 3.02% | 55,000 | $8.7M | Reduce -56.0% |
| CGON CG Oncology Inc. | 2.86% | 260,000 | $8.2M | Add +246.7% |
| CRBP Corbus Pharmaceuticals Holdi | 2.76% | 175,000 | $7.9M | Add +207.3% |
| VRDN Viridian Therapeutics Inc. | 2.66% | 587,708 | $7.6M | Reduce -6.0% |
| SNDX Syndax Pharmaceuticals Inc. | 2.50% | 350,000 | $7.2M | Add +133.3% |
| IMVT Immunovant Inc. | 2.39% | 260,000 | $6.9M | Add +108.0% |
| TARS Tarsus Pharmaceuticals Inc. | 2.22% | 235,000 | $6.4M | Reduce -21.7% |
| PHAT Phathom Pharmaceuticals Inc. | 2.15% | 600,000 | $6.2M | Add +23.7% |
| RZLT Rezolute Inc. | 2.13% | 1,421,501 | $6.1M | New |
| OLMA Olema Pharmaceuticals Inc. | 2.07% | 550,000 | $6.0M | Add +175.0% |
| SYRE Spyre Therapeutics Inc. | 2.05% | 250,237 | $5.9M | Add +150.2% |
| ALNY Alnylam Pharmaceuticals Inc. | 1.90% | 22,500 | $5.5M | Reduce -62.5% |
| APLS Apellis Pharmaceuticals Inc. | 1.80% | 135,000 | $5.2M | Add +3.9% |
| VKTX Viking Therapeutics Inc. | 1.75% | 95,000 | $5.0M | Add +30.1% |
| RYTM Rhythm Pharmaceuticals Inc. | 1.68% | 117,388 | $4.8M | Reduce -6.1% |
| INSM Insmed Inc. | 1.52% | 65,000 | $4.4M | Reduce -56.7% |
| BPMC Blueprint Medicines Corp. | 1.50% | 40,000 | $4.3M | Reduce -45.0% |
| SVRA Savara Inc. | 1.47% | 1,050,876 | $4.2M | Reduce -34.3% |
| TNYA Tenaya Therapeutics Inc. | 1.46% | 1,350,000 | $4.2M | Add +74.2% |
| REPL Replimune Group Inc. | 1.41% | 450,000 | $4.0M | Reduce -30.8% |
| ENGN Engene Holdings Inc. | 1.38% | 420,331 | $4.0M | Add +110.2% |
| ACAD Acadia Pharmaceuticals Inc. | 1.27% | 225,000 | $3.7M | No change |
| BBIO Bridgebio Pharma Inc. | 1.23% | 140,000 | $3.5M | Reduce -20.0% |
| KRRO Korro Bio Inc. | 1.18% | 100,000 | $3.4M | New |
| NUVB Nuvation Bio Inc. | 1.17% | 1,150,000 | $3.4M | New |
| BBOT Bridgebio Oncology Therapeut filed as HELIX ACQUISITION CORP II | 1.07% | 300,000 | $3.1M | No change |
| TSHA Taysha Gene Therapies Inc. | 0.97% | 1,250,000 | $2.8M | Add +31.6% |
| CABA Cabaletta Bio Inc. | 0.97% | 370,899 | $2.8M | Reduce -1.1% |
| NGNE Neurogene Inc. | 0.89% | 70,000 | $2.5M | Add +180.0% |
| JANX Janux Therapeutics Inc. | 0.73% | 50,000 | $2.1M | New |
| ARVN Arvinas Inc. | 0.69% | 75,000 | $2.0M | Add +87.5% |
| RGNX Regenxbio Inc. | 0.69% | 170,000 | $2.0M | Add +41.7% |
| CYTK Cytokinetics Inc. | 0.63% | 33,200 | $1.8M | Add +66.0% |
| ELEV Elevation Oncology Inc. | 0.56% | 600,000 | $1.6M | Add +140.0% |
| KRYS Krystal Biotech Inc. | 0.54% | 8,500 | $1.6M | Reduce -39.3% |
| ANNX Annexon Inc. | 0.53% | 310,000 | $1.5M | New |
| PRQR Proqr Therapeutics NV | 0.52% | 900,000 | $1.5M | New |
| ATYR Atyr Pharma Inc. | 0.43% | 800,000 | $1.2M | Add +33.3% |
| WVE Wave Life Sciences Ltd. | 0.35% | 200,000 | $998K | New |
| ARWR Arrowhead Pharmaceuticals Inc. | 0.32% | 35,000 | $910K | No change |
| SGMT Sagimet Biosciences Inc. Class A | 0.27% | 225,000 | $770K | No change |
| ITCI Intra-Cellular Therapies Inc. | 0.24% | 10,000 | $685K | New |
| MGNX Macrogenics Inc. | 0.22% | 150,000 | $638K | New |
| PMVP PMV Pharmaceuticals Inc. | 0.21% | 375,000 | $608K | Reduce -44.4% |
| PTCT PTC Therapeutics Inc. | 0.20% | 19,000 | $581K | New |
| RVNC Revance Therapeutics Inc. | 0.20% | 225,000 | $578K | Reduce -50.0% |
| NTLA Intellia Therapeutics Inc. | 0.19% | 25,000 | $560K | No change |
| ANTX AN2 Therapeutics Inc. | 0.16% | 219,331 | $472K | No change |
| CTMX Cytomx Therapeutics Inc. | 0.13% | 300,000 | $366K | Reduce -50.0% |
Options reported separately and not counted above: ALNY puts ($16.6M), INSM calls ($13.4M), ANNX calls ($1.1M), RAPT THERAPEUTICS INC calls ($915K).
Portfolio Sells Q1 2024 → Q2 2024
| CATX Perspective Therapeutics Inc. | Sold out | 0.00% | −2.30 |
| SRPT Sarepta Therapeutics Inc. | Reduce -56.0% | 3.02% | −2.18 |
| AEROVATE THERAPEUTICS INC | Sold out | 0.00% | −2.14 |
| TARS Tarsus Pharmaceuticals Inc. | Reduce -21.7% | 2.22% | −1.28 |
| AXSM Axsome Therapeutics Inc. | Reduce -28.6% | 4.20% | −1.19 |
| CABA Cabaletta Bio Inc. | Reduce -1.1% | 0.97% | −1.09 |
| SVRA Savara Inc. | Reduce -34.3% | 1.47% | −1.09 |
| GPCR Structure Therapeutics Inc. | Sold out | 0.00% | −1.03 |
| ALNY Alnylam Pharmaceuticals Inc. | Reduce -62.5% | 1.90% | −0.98 |
| COGT Cogent Biosciences Inc. | Sold out | 0.00% | −0.97 |
| AQST Aquestive Therapeutics Inc. | Sold out | 0.00% | −0.96 |
| TGTX TG Therapeutics Inc. | Reduce -39.4% | 3.10% | −0.94 |
| DCPH Deciphera Pharmaceuticals Inc. | Sold out | 0.00% | −0.89 |
| VRDN Viridian Therapeutics Inc. | Reduce -6.0% | 2.66% | −0.86 |
| GERN Geron Corp. | Sold out | 0.00% | −0.85 |
| MRNS Marinus Pharmaceuticals Inc. | Sold out | 0.00% | −0.83 |
| ALT Altimmune Inc. | Sold out | 0.00% | −0.82 |
| KALV Kalvista Pharmaceuticals Inc. | Sold out | 0.00% | −0.76 |
| NTRA Natera Inc. | Sold out | 0.00% | −0.74 |
| ROIV Roivant Sciences Ltd. | Reduce -23.1% | 3.68% | −0.73 |
| BPMC Blueprint Medicines Corp. | Reduce -45.0% | 1.50% | −0.72 |
| PTGX Protagonist Therapeutics Inc. | Sold out | 0.00% | −0.70 |
| EYPT Eyepoint Inc. | Sold out | 0.00% | −0.60 |
| MDGL Madrigal Pharmaceuticals Inc. | Sold out | 0.00% | −0.56 |
| ATXS Astria Therapeutics Inc. | Sold out | 0.00% | −0.52 |
| LRMR Larimar Therapeutics Inc. | Sold out | 0.00% | −0.51 |
| RVNC Revance Therapeutics Inc. | Reduce -50.0% | 0.20% | −0.51 |
| BBIO Bridgebio Pharma Inc. | Reduce -20.0% | 1.23% | −0.51 |
| RARE Ultragenyx Pharmaceutical Inc. | Sold out | 0.00% | −0.30 |
| REPL Replimune Group Inc. | Reduce -30.8% | 1.41% | −0.30 |
| CTMX Cytomx Therapeutics Inc. | Reduce -50.0% | 0.13% | −0.29 |
| QURE Uniqure NV | Sold out | 0.00% | −0.28 |
| KRYS Krystal Biotech Inc. | Reduce -39.3% | 0.54% | −0.26 |
| PMVP PMV Pharmaceuticals Inc. | Reduce -44.4% | 0.21% | −0.16 |
| RYTM Rhythm Pharmaceuticals Inc. | Reduce -6.1% | 1.68% | −0.06 |
| INSM Insmed Inc. | Reduce -56.7% | 1.52% | +0.21 |
Portfolio Buys Q1 2024 → Q2 2024
| ASND Ascendis Pharma A/S | New | 4.12% | +4.12 |
| CATX Perspective Therapeutics Inc. | New | 3.21% | +3.21 |
| RZLT Rezolute Inc. | New | 2.13% | +2.13 |
| CRBP Corbus Pharmaceuticals Holdi | Add +207.3% | 2.76% | +2.04 |
| PCVX Vaxcyte Inc. | Add +57.9% | 3.94% | +1.86 |
| CGON CG Oncology Inc. | Add +246.7% | 2.86% | +1.80 |
| SLNO Soleno Therapeutics Inc. | Add +50.0% | 4.26% | +1.51 |
| SNDX Syndax Pharmaceuticals Inc. | Add +133.3% | 2.50% | +1.35 |
| OLMA Olema Pharmaceuticals Inc. | Add +175.0% | 2.07% | +1.34 |
| KRRO Korro Bio Inc. | New | 1.18% | +1.18 |
| NUVB Nuvation Bio Inc. | New | 1.17% | +1.17 |
| IMVT Immunovant Inc. | Add +108.0% | 2.39% | +1.09 |
| BHVN Biohaven Ltd. | Add +71.9% | 5.92% | +0.91 |
| SYRE Spyre Therapeutics Inc. | Add +150.2% | 2.05% | +0.83 |
| CRNX Crinetics Pharmaceuticals Inc. | Add +20.0% | 3.74% | +0.73 |
| JANX Janux Therapeutics Inc. | New | 0.73% | +0.73 |
| ANNX Annexon Inc. | New | 0.53% | +0.53 |
| PRQR Proqr Therapeutics NV | New | 0.52% | +0.52 |
| PHAT Phathom Pharmaceuticals Inc. | Add +23.7% | 2.15% | +0.49 |
| NGNE Neurogene Inc. | Add +180.0% | 0.89% | +0.48 |
| WVE Wave Life Sciences Ltd. | New | 0.35% | +0.35 |
| ENGN Engene Holdings Inc. | Add +110.2% | 1.38% | +0.29 |
| ITCI Intra-Cellular Therapies Inc. | New | 0.24% | +0.24 |
| MGNX Macrogenics Inc. | New | 0.22% | +0.22 |
| PTCT PTC Therapeutics Inc. | New | 0.20% | +0.20 |
| CYTK Cytokinetics Inc. | Add +66.0% | 0.63% | +0.18 |
| ARVN Arvinas Inc. | Add +87.5% | 0.69% | +0.16 |
| TNYA Tenaya Therapeutics Inc. | Add +74.2% | 1.46% | +0.15 |
| ELEV Elevation Oncology Inc. | Add +140.0% | 0.56% | +0.15 |
| TSHA Taysha Gene Therapies Inc. | Add +31.6% | 0.97% | +0.10 |
| ATYR Atyr Pharma Inc. | Add +33.3% | 0.43% | +0.06 |
| RGNX Regenxbio Inc. | Add +41.7% | 0.69% | −0.12 |
| VKTX Viking Therapeutics Inc. | Add +30.1% | 1.75% | −0.17 |
| APLS Apellis Pharmaceuticals Inc. | Add +3.9% | 1.80% | −0.65 |
Options Activity Q1 2024 → Q2 2024
| XBI SS SPDR S&P Biotech ETF | put | Sold out | 250,000 | $23.7Mbefore exit |
| ALNY Alnylam Pharmaceuticals Inc. | put | New | 68,400 | $16.6M |
| INSM Insmed Inc. | call | New | 200,000 | $13.4M |
| VKTX Viking Therapeutics Inc. | call | Sold out | 80,000 | $6.6Mbefore exit |
| CYTK Cytokinetics Inc. | call | Sold out | 75,000 | $5.3Mbefore exit |
| IMVT Immunovant Inc. | call | Sold out | 150,000 | $4.8Mbefore exit |
| ACAD Acadia Pharmaceuticals Inc. | call | Sold out | 200,000 | $3.7Mbefore exit |
| ITCI Intra-Cellular Therapies Inc. | call | Sold out | 50,000 | $3.5Mbefore exit |
| ANNX Annexon Inc. | call | New | 214,500 | $1.1M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.