Ikarian Capital, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Ikarian Capital, LLC reported 116 stock positions worth $306.9 million. Its top holding was Tarsus Pharmaceuticals (TARS) at 8.1% of the portfolio, followed by Crinetics Pharmaceuticals (CRNX, 5.7%) and SS SPDR S&P 500 ETF Trust-US (SPY, 4.6%). Compared with Q4 2024, it opened 26 new positions, sold out of 32, added to 23 and reduced 30. The biggest buy was a new position in SS SPDR S&P 500 ETF Trust-US (SPY) and the biggest sale an exit from Spyre Therapeutics (SYRE).
- Most Recent 13F
- Q2 2026
- Location
- DALLAS, TX
- CIK
- 0001778253
- Portfolio Value
- $306.9M (Q1 2025)
- SEC Filing
- 0001420506-25-001276 ↗ filed May 15, 2025
Holdings Value
Holdings 116 stocks · $306.9M
| TARS Tarsus Pharmaceuticals Inc. | 8.12% | 485,021 | $24.9M | Reduce -20.2% |
| CRNX Crinetics Pharmaceuticals Inc. | 5.72% | 523,431 | $17.6M | Add +1.4% |
| SPY SS SPDR S&P 500 ETF Trust-US | 4.56% | 25,000 | $14.0M | New |
| SRPT Sarepta Therapeutics Inc. | 3.52% | 169,087 | $10.8M | Add +396.1% |
| BPMC Blueprint Medicines Corp. | 3.28% | 113,904 | $10.1M | Reduce -32.8% |
| AKRO Akero Therapeutics Inc. | 3.23% | 245,000 | $9.9M | New |
| ALNY Alnylam Pharmaceuticals Inc. | 2.78% | 31,594 | $8.5M | New |
| TGTX TG Therapeutics Inc. | 2.70% | 210,065 | $8.3M | Reduce -27.9% |
| VRNA Verona Pharma Ltd. | 2.69% | 130,000 | $8.3M | Add +62.5% |
| RARE Ultragenyx Pharmaceutical Inc. | 2.56% | 216,989 | $7.9M | Add +21.2% |
| SRRK Scholar Rock Holding Corp. | 2.56% | 244,179 | $7.9M | Reduce -31.6% |
| PCVX Vaxcyte Inc. | 2.46% | 200,000 | $7.6M | New |
| VIR Vir Biotechnology Inc. | 2.25% | 1,068,062 | $6.9M | Add +19.0% |
| VRDN Viridian Therapeutics Inc. | 2.17% | 494,949 | $6.7M | Add +5.3% |
| INSM Insmed Inc. | 2.11% | 84,800 | $6.5M | Reduce -29.2% |
| EWTX Edgewise Therapeutics Inc. | 2.01% | 280,000 | $6.2M | New |
| CPRX Catalyst Pharmaceuticals Inc. | 1.97% | 249,649 | $6.1M | Reduce -28.6% |
| CYTK Cytokinetics Inc. | 1.96% | 149,982 | $6.0M | No change |
| ELVN Enliven Therapeutics Inc. | 1.86% | 289,538 | $5.7M | Reduce -26.6% |
| PRAX Praxis Precision Medicines I | 1.80% | 145,502 | $5.5M | New |
| CDTX Cidara Therapeutics Inc. | 1.75% | 248,940 | $5.4M | Add +361.5% |
| ACOG Alpha Cognition Inc. | 1.66% | 967,867 | $5.1M | Add +28.1% |
| TECX Tectonic Therapeutic Inc. | 1.55% | 269,090 | $4.8M | Add +89.1% |
| FBRX Forte Biosciences Inc. | 1.54% | 609,225 | $4.7M | No change |
| GPCR Structure Therapeutics Inc. | 1.49% | 264,085 | $4.6M | Reduce -7.0% |
| MTSR Metsera Inc. | 1.33% | 150,000 | $4.1M | New |
| STIM Neuronetics Inc. | 1.32% | 1,100,000 | $4.0M | New |
| DYN Dyne Therapeutics Inc. | 1.22% | 358,837 | $3.8M | New |
| TRVI Trevi Therapeutics Inc. | 1.18% | 575,000 | $3.6M | Add +76.9% |
| MAZE Maze Therapeutics Inc. | 1.16% | 322,740 | $3.6M | New |
| JANX Janux Therapeutics Inc. | 1.14% | 129,691 | $3.5M | Add +73.6% |
| ELDN Eledon Pharmaceuticals Inc. | 1.13% | 1,025,221 | $3.5M | Reduce -9.0% |
| BBIO Bridgebio Pharma Inc. | 1.02% | 90,837 | $3.1M | Reduce -57.9% |
| CPIX Cumberland Pharmaceuticals | 1.02% | 740,000 | $3.1M | New |
| KROS Keros Therapeutics Inc. | 0.91% | 274,009 | $2.8M | New |
| ABEO Abeona Therapeutics Inc. | 0.83% | 533,581 | $2.5M | No change |
| HELP Cybin Inc. | 0.82% | 397,175 | $2.5M | No change |
| IBIO Ibio Inc. | 0.79% | 599,913 | $2.4M | No change |
| DRUG Bright Minds Biosciences Inc. | 0.77% | 65,431 | $2.4M | Reduce -57.0% |
| EOLS Evolus Inc. | 0.76% | 193,265 | $2.3M | Reduce -48.2% |
| RLAY Relay Therapeutics Inc. | 0.63% | 743,308 | $1.9M | Add +7.2% |
| LXEO Lexeo Therapeutics Inc. | 0.62% | 550,029 | $1.9M | Add +10.2% |
| ARCT Arcturus Therapeutics Holdin | 0.60% | 175,000 | $1.9M | Reduce -12.5% |
| KOD Kodiak Sciences Inc. | 0.59% | 649,534 | $1.8M | Add +12.7% |
| ORKA Oruka Therapeutics Inc. | 0.58% | 175,000 | $1.8M | New |
| APLS Apellis Pharmaceuticals Inc. | 0.53% | 75,000 | $1.6M | Add +1986.8% |
| VERV Verve Therapeutics Inc. | 0.53% | 358,393 | $1.6M | Add +110.8% |
| ARVN Arvinas Inc. | 0.53% | 229,900 | $1.6M | New |
| AVTX Avalo Therapeutics Inc. | 0.52% | 200,000 | $1.6M | Reduce -79.4% |
| VTGN Vistagen Therapeutics Inc. | 0.49% | 601,703 | $1.5M | Add +675.2% |
| RCKT Rocket Pharmaceuticals Inc. | 0.48% | 221,911 | $1.5M | No change |
| VTYX Ventyx Biosciences Inc. | 0.46% | 1,217,590 | $1.4M | Add +11.4% |
| RCUS Arcus Biosciences Inc. | 0.42% | 163,363 | $1.3M | Reduce -56.8% |
| DCTH Delcath Systems Inc. | 0.42% | 100,365 | $1.3M | No change |
| SGMOQ Sangamo Therapeutics Inc. | 0.40% | 1,860,179 | $1.2M | No change |
| VKTX Viking Therapeutics Inc. | 0.39% | 50,000 | $1.2M | New |
| TDOC Teladoc Health Inc. | 0.39% | 150,000 | $1.2M | New |
| ALEC Alector Inc. | 0.38% | 950,000 | $1.2M | No change |
| OKUR Onkure Therapeutics Inc. Class A | 0.36% | 253,754 | $1.1M | No change |
| NUVB Nuvation Bio Inc. | 0.36% | 619,258 | $1.1M | Add +642.5% |
| NKTR Nektar Therapeutics | 0.35% | 1,579,528 | $1.1M | Reduce -22.1% |
| TRML Tourmaline Bio Inc. | 0.34% | 67,927 | $1.0M | No change |
| IMUX Immunic Inc. | 0.32% | 914,170 | $996K | Reduce -43.4% |
| TERN Terns Pharmaceuticals Inc. | 0.28% | 308,491 | $851K | No change |
| SLDB Solid Biosciences Inc. | 0.28% | 230,000 | $851K | New |
| ETNB 89BIO Inc. | 0.24% | 100,000 | $727K | New |
| OLMA Olema Pharmaceuticals Inc. | 0.24% | 191,994 | $722K | Add +108.7% |
| VERU Veru Inc. | 0.23% | 1,425,239 | $699K | Add +50.8% |
| LXRX Lexicon Pharmaceuticals Inc. | 0.21% | 1,417,952 | $653K | Reduce -8.5% |
| GLUE Monte Rosa Therapeutics Inc. | 0.21% | 136,575 | $634K | Reduce -56.2% |
| CHANNEL THERAPEUTICS CORPORA | 0.20% | 440,849 | $626K | New |
| PYXS Pyxis Oncology Inc. | 0.20% | 613,253 | $601K | No change |
| INBX Inhibrx Biosciences Inc. | 0.19% | 42,122 | $589K | No change |
| FULC Fulcrum Therapeutics Inc. | 0.19% | 200,096 | $576K | No change |
| SWTX Springworks Therapeutics Inc. | 0.18% | 12,519 | $552K | Reduce -66.6% |
| KZR Kezar Life Sciences Inc. | 0.17% | 106,901 | $522K | No change |
| BIOMX INC | 0.16% | 892,976 | $496K | No change |
| LYEL Lyell Immunopharma Inc. | 0.15% | 876,037 | $471K | Reduce -31.4% |
| ITOS Iteos Therapeutics Inc. | 0.15% | 78,585 | $469K | No change |
| VIGL Vigil Neuroscience Inc. | 0.14% | 250,000 | $445K | Reduce -50.0% |
| AETHLON MEDICAL INC | 0.14% | 1,229,285 | $440K | Add +63.9% |
| ANRO Alto Neuroscience Inc. | 0.12% | 175,000 | $378K | Reduce -50.0% |
| MIND MEDICINE MINDMED INC | 0.12% | 62,691 | $367K | No change |
| THRD Third Harmonic Bio Inc. | 0.11% | 100,000 | $347K | No change |
| DNA Ginkgo Bioworks Holdings Inc. | 0.11% | 58,300 | $332K | New |
| TYRA Tyra Biosciences Inc. | 0.11% | 35,000 | $326K | Reduce -41.7% |
| ABOS Acumen Pharmaceuticals Inc. | 0.10% | 265,769 | $292K | No change |
| RNAC Cartesian Therapeutics Inc. | 0.10% | 22,166 | $292K | Reduce -57.5% |
| SPRB Spruce Biosciences Inc. | 0.09% | 1,000,000 | $290K | No change |
| ALLK Allakos LLC | 0.09% | 1,171,950 | $267K | Add +20.6% |
| GERN Geron Corp. | 0.08% | 150,000 | $239K | New |
| CMMB Chemomab Therapeutics Ltd. | 0.08% | 213,052 | $232K | No change |
| ACRS Aclaris Therapeutics Inc. | 0.08% | 150,900 | $231K | Reduce -56.9% |
| MNPR Monopar Therapeutics Inc. | 0.07% | 5,908 | $215K | No change |
| CLYM Climb Bio Inc. | 0.07% | 175,088 | $214K | No change |
| PEPG Pepgen Inc. | 0.07% | 150,000 | $211K | New |
| ANEB Anebulo Pharmaceuticals Inc. | 0.07% | 157,720 | $205K | No change |
| VYGR Voyager Therapeutics Inc. | 0.06% | 55,766 | $188K | No change |
| ELEV Elevation Oncology Inc. | 0.06% | 690,050 | $179K | No change |
| SENSEI BIOTHERAPEUTICS INC | 0.06% | 449,963 | $177K | Reduce -30.8% |
| EVAX Evaxion A/S | 0.05% | 80,000 | $148K | New |
| RZLT Rezolute Inc. | 0.05% | 50,058 | $145K | Reduce -94.2% |
| LYRA Lyra Therapeutics Inc. | 0.04% | 1,058,148 | $134K | No change |
| TOVX Theriva Biologics Inc. | 0.04% | 120,031 | $132K | New |
| LRMR Larimar Therapeutics Inc. | 0.04% | 58,526 | $126K | No change |
| JSPR Jasper Therapeutics Inc. | 0.04% | 25,107 | $108K | Reduce -54.4% |
| KPTI Karyopharm Therapeutics Inc. | 0.03% | 27,257 | $102K | No change |
| MGNX Macrogenics Inc. | 0.03% | 80,071 | $102K | No change |
| TKNO Alpha Teknova Inc. | 0.02% | 14,008 | $73K | New |
| TRAW Traws Pharma Inc. | 0.02% | 28,493 | $66K | Reduce -71.1% |
| HOOK Hookipa Pharma Inc. | 0.02% | 52,996 | $57K | No change |
| SGMT Sagimet Biosciences Inc. Class A | 0.01% | 11,984 | $39K | No change |
| AUTONOMIX MED INC | 0.01% | 20,000 | $35K | No change |
| SYBX Synlogic Inc. | 0.01% | 20,422 | $25K | No change |
| NMRA Neumora Therapeutics Inc. | 0.01% | 15,457 | $15K | New |
| RLMD Relmada Therapeutics Inc. | 0.00% | 40,270 | $11K | No change |
Options reported separately and not counted above: SPY puts ($179.0M), LLY puts ($123.9M), CORT puts ($32.9M), BBIO calls ($22.7M), SLNO calls ($17.4M), CORT calls ($11.4M), RNAM puts ($8.9M), BHVN calls ($8.4M), TRUP calls ($7.5M), ACLX puts ($7.3M), SLNO puts ($7.1M), IMVT puts ($6.8M), and 32 more.
Portfolio Sells Q4 2024 → Q1 2025
| SYRE Spyre Therapeutics Inc. | Sold out | 0.00% | −1.88 |
| SRRK Scholar Rock Holding Corp. | Reduce -31.6% | 2.56% | −1.85 |
| AVTX Avalo Therapeutics Inc. | Reduce -79.4% | 0.52% | −1.54 |
| TARS Tarsus Pharmaceuticals Inc. | Reduce -20.2% | 8.12% | −1.49 |
| LENZ Lenz Therapeutics Inc. | Sold out | 0.00% | −1.23 |
| RCUS Arcus Biosciences Inc. | Reduce -56.8% | 0.42% | −1.19 |
| MLYS Mineralys Therapeutics Inc. | Sold out | 0.00% | −1.17 |
| NUVL Nuvalent Inc. Class A | Sold out | 0.00% | −1.17 |
| RZLT Rezolute Inc. | Reduce -94.2% | 0.05% | −1.15 |
| BPMC Blueprint Medicines Corp. | Reduce -32.8% | 3.28% | −0.93 |
| DRUG Bright Minds Biosciences Inc. | Reduce -57.0% | 0.77% | −0.80 |
| PTGX Protagonist Therapeutics Inc. | Sold out | 0.00% | −0.77 |
| ALGS Aligos Therapeutics Inc. | Sold out | 0.00% | −0.73 |
| GPCR Structure Therapeutics Inc. | Reduce -7.0% | 1.49% | −0.71 |
| ZVRA Zevra Therapeutics Inc. | Sold out | 0.00% | −0.70 |
| XENE Xenon Pharmaceuticals Inc. | Sold out | 0.00% | −0.69 |
| ELVN Enliven Therapeutics Inc. | Reduce -26.6% | 1.86% | −0.68 |
| BBIO Bridgebio Pharma Inc. | Reduce -57.9% | 1.02% | −0.67 |
| SLRN Acelyrin Inc. | Sold out | 0.00% | −0.61 |
| CRDF Cardiff Oncology Inc. | Sold out | 0.00% | −0.56 |
| TARA Protara Therapeutic Inc. | Sold out | 0.00% | −0.53 |
| ACHL Achilles Therapeutics PL-ADR | Sold out | 0.00% | −0.47 |
| EOLS Evolus Inc. | Reduce -48.2% | 0.76% | −0.42 |
| GLUE Monte Rosa Therapeutics Inc. | Reduce -56.2% | 0.21% | −0.41 |
| ARCT Arcturus Therapeutics Holdin | Reduce -12.5% | 0.60% | −0.37 |
| MIST Milestone Pharmaceuticals Inc. | Sold out | 0.00% | −0.31 |
| JSPR Jasper Therapeutics Inc. | Reduce -54.4% | 0.04% | −0.30 |
| ANRO Alto Neuroscience Inc. | Reduce -50.0% | 0.12% | −0.30 |
| INSM Insmed Inc. | Reduce -29.2% | 2.11% | −0.25 |
| TRAW Traws Pharma Inc. | Reduce -71.1% | 0.02% | −0.23 |
| CMPS Compass Pathways PLC | Sold out | 0.00% | −0.22 |
| AMLX Amylyx Pharmaceuticals Inc. | Sold out | 0.00% | −0.22 |
| SWTX Springworks Therapeutics Inc. | Reduce -66.6% | 0.18% | −0.21 |
| ELDN Eledon Pharmaceuticals Inc. | Reduce -9.0% | 1.13% | −0.19 |
| NKTR Nektar Therapeutics | Reduce -22.1% | 0.35% | −0.19 |
| NRIX Nurix Therapeutics Inc. | Sold out | 0.00% | −0.19 |
| CRBP Corbus Pharmaceuticals Holdi | Sold out | 0.00% | −0.17 |
| ACRS Aclaris Therapeutics Inc. | Reduce -56.9% | 0.08% | −0.17 |
| RNAC Cartesian Therapeutics Inc. | Reduce -57.5% | 0.10% | −0.17 |
| SANA Sana Biotechnology Inc. | Sold out | 0.00% | −0.17 |
| IMUX Immunic Inc. | Reduce -43.4% | 0.32% | −0.14 |
| TYRA Tyra Biosciences Inc. | Reduce -41.7% | 0.11% | −0.13 |
| LXRX Lexicon Pharmaceuticals Inc. | Reduce -8.5% | 0.21% | −0.11 |
| TVTX Travere Therapeutics Inc. | Sold out | 0.00% | −0.11 |
| CPRX Catalyst Pharmaceuticals Inc. | Reduce -28.6% | 1.97% | −0.11 |
| CATX Perspective Therapeutics Inc. | Sold out | 0.00% | −0.10 |
| VIGL Vigil Neuroscience Inc. | Reduce -50.0% | 0.14% | −0.10 |
| ATXI Avenue Therapeutics Inc. | Sold out | 0.00% | −0.08 |
| LYEL Lyell Immunopharma Inc. | Reduce -31.4% | 0.15% | −0.08 |
| QUOIN PHARMACEUTICALS LTD | Sold out | 0.00% | −0.05 |
Portfolio Buys Q4 2024 → Q1 2025
| SPY SS SPDR S&P 500 ETF Trust-US | New | 4.56% | +4.56 |
| AKRO Akero Therapeutics Inc. | New | 3.23% | +3.23 |
| ALNY Alnylam Pharmaceuticals Inc. | New | 2.78% | +2.78 |
| PCVX Vaxcyte Inc. | New | 2.46% | +2.46 |
| SRPT Sarepta Therapeutics Inc. | Add +396.1% | 3.52% | +2.33 |
| EWTX Edgewise Therapeutics Inc. | New | 2.01% | +2.01 |
| PRAX Praxis Precision Medicines I | New | 1.80% | +1.80 |
| VRNA Verona Pharma Ltd. | Add +62.5% | 2.69% | +1.63 |
| CDTX Cidara Therapeutics Inc. | Add +361.5% | 1.75% | +1.33 |
| MTSR Metsera Inc. | New | 1.33% | +1.33 |
| STIM Neuronetics Inc. | New | 1.32% | +1.32 |
| DYN Dyne Therapeutics Inc. | New | 1.22% | +1.22 |
| MAZE Maze Therapeutics Inc. | New | 1.16% | +1.16 |
| CPIX Cumberland Pharmaceuticals | New | 1.02% | +1.02 |
| KROS Keros Therapeutics Inc. | New | 0.91% | +0.91 |
| TRVI Trevi Therapeutics Inc. | Add +76.9% | 1.18% | +0.80 |
| ORKA Oruka Therapeutics Inc. | New | 0.58% | +0.58 |
| ARVN Arvinas Inc. | New | 0.53% | +0.53 |
| APLS Apellis Pharmaceuticals Inc. | Add +1986.8% | 0.53% | +0.50 |
| VTGN Vistagen Therapeutics Inc. | Add +675.2% | 0.49% | +0.42 |
| RARE Ultragenyx Pharmaceutical Inc. | Add +21.2% | 2.56% | +0.41 |
| ACOG Alpha Cognition Inc. | Add +28.1% | 1.66% | +0.39 |
| VKTX Viking Therapeutics Inc. | New | 0.39% | +0.39 |
| TDOC Teladoc Health Inc. | New | 0.39% | +0.39 |
| VIR Vir Biotechnology Inc. | Add +19.0% | 2.25% | +0.37 |
| NUVB Nuvation Bio Inc. | Add +642.5% | 0.36% | +0.29 |
| SLDB Solid Biosciences Inc. | New | 0.28% | +0.28 |
| VERV Verve Therapeutics Inc. | Add +110.8% | 0.53% | +0.26 |
| ETNB 89BIO Inc. | New | 0.24% | +0.24 |
| CHANNEL THERAPEUTICS CORPORA | New | 0.20% | +0.20 |
| DNA Ginkgo Bioworks Holdings Inc. | New | 0.11% | +0.11 |
| OLMA Olema Pharmaceuticals Inc. | Add +108.7% | 0.24% | +0.08 |
| GERN Geron Corp. | New | 0.08% | +0.08 |
| PEPG Pepgen Inc. | New | 0.07% | +0.07 |
| VERU Veru Inc. | Add +50.8% | 0.23% | +0.05 |
| EVAX Evaxion A/S | New | 0.05% | +0.05 |
| TOVX Theriva Biologics Inc. | New | 0.04% | +0.04 |
| TKNO Alpha Teknova Inc. | New | 0.02% | +0.02 |
| NMRA Neumora Therapeutics Inc. | New | 0.01% | +0.01 |
| JANX Janux Therapeutics Inc. | Add +73.6% | 1.14% | −0.00 |
| AETHLON MEDICAL INC | Add +63.9% | 0.14% | −0.04 |
| RLAY Relay Therapeutics Inc. | Add +7.2% | 0.63% | −0.18 |
| VTYX Ventyx Biosciences Inc. | Add +11.4% | 0.46% | −0.23 |
| ALLK Allakos LLC | Add +20.6% | 0.09% | −0.25 |
| LXEO Lexeo Therapeutics Inc. | Add +10.2% | 0.62% | −0.32 |
| TECX Tectonic Therapeutic Inc. | Add +89.1% | 1.55% | −0.32 |
| VRDN Viridian Therapeutics Inc. | Add +5.3% | 2.17% | −0.40 |
| KOD Kodiak Sciences Inc. | Add +12.7% | 0.59% | −1.04 |
| CRNX Crinetics Pharmaceuticals Inc. | Add +1.4% | 5.72% | −1.82 |
Options Activity Q4 2024 → Q1 2025
| SPY SS SPDR S&P 500 ETF Trust-US | put | New | 320,000 | $179.0M |
| LLY Eli Lilly & Co. | put | New | 150,000 | $123.9M |
| XBI SS SPDR S&P Biotech ETF | put | Sold out | 750,000 | $67.5Mbefore exit |
| XBI SS SPDR S&P Biotech ETF | call | Sold out | 700,000 | $63.0Mbefore exit |
| TSN Tyson Foods Inc. Class A | put | Sold out | 630,000 | $36.2Mbefore exit |
| CORT Corcept Therapeutics Inc. | put | New | 287,900 | $32.9M |
| BBIO Bridgebio Pharma Inc. | call | Reduce -6.4% | 655,400 | $22.7M |
| AMGN Amgen Inc. | call | Sold out | 74,000 | $19.3Mbefore exit |
| SLNO Soleno Therapeutics Inc. | call | New | 243,000 | $17.4M |
| PPC Pilgrim's Pride Corp. | put | Sold out | 300,000 | $13.6Mbefore exit |
| CORT Corcept Therapeutics Inc. | call | New | 100,000 | $11.4M |
| INSM Insmed Inc. | call | Sold out | 150,000 | $10.4Mbefore exit |
| SRPT Sarepta Therapeutics Inc. | call | Sold out | 81,000 | $9.8Mbefore exit |
| NMRA Neumora Therapeutics Inc. | call | Sold out | 900,000 | $9.5Mbefore exit |
| RNAM Avidity Biosciences Inc. | put | Reduce -25.0% | 300,000 | $8.9M |
| AXSM Axsome Therapeutics Inc. | call | Sold out | 100,000 | $8.5Mbefore exit |
| BHVN Biohaven Ltd. | call | New | 348,200 | $8.4M |
| CALM Cal-Maine Foods Inc. | put | Sold out | 75,000 | $7.7Mbefore exit |
| DNA Ginkgo Bioworks Holdings Inc. | call | Sold out | 769,700 | $7.6Mbefore exit |
| TRUP Trupanion Inc. | call | New | 200,000 | $7.5M |
| IMVT Immunovant Inc. | call | Sold out | 300,000 | $7.4Mbefore exit |
| ACLX Arcellx Inc. | put | New | 111,600 | $7.3M |
| SLNO Soleno Therapeutics Inc. | put | Add +33.3% | 100,000 | $7.1M |
| IMVT Immunovant Inc. | put | New | 400,000 | $6.8M |
| DYN Dyne Therapeutics Inc. | put | Sold out | 280,800 | $6.6Mbefore exit |
| AKRO Akero Therapeutics Inc. | put | Sold out | 199,000 | $5.5Mbefore exit |
| ONC Beone Medicines Ltd.-ADR | call | Sold out | 29,800 | $5.5Mbefore exit |
| VIR Vir Biotechnology Inc. | call | Sold out | 720,300 | $5.3Mbefore exit |
| KYMR Kymera Therapeutics Inc. | put | New | 176,800 | $4.8M |
| PTGX Protagonist Therapeutics Inc. | put | New | 100,000 | $4.8M |
| PTGX Protagonist Therapeutics Inc. | call | New | 100,000 | $4.8M |
| MRNA Moderna Inc. | put | Sold out | 100,000 | $4.2Mbefore exit |
| CAPR Capricor Therapeutics Inc. | put | Sold out | 300,000 | $4.1Mbefore exit |
| ANAB Anaptysbio Inc. | put | Sold out | 310,800 | $4.1Mbefore exit |
| RARE Ultragenyx Pharmaceutical Inc. | call | New | 113,100 | $4.1M |
| CAPR Capricor Therapeutics Inc. | call | Add +10.8% | 400,000 | $3.8M |
| NMRA Neumora Therapeutics Inc. | put | Sold out | 350,000 | $3.7Mbefore exit |
| MLTX Moonlake Immunotherapeutics | call | New | 94,500 | $3.7M |
| MLTX Moonlake Immunotherapeutics | put | New | 94,500 | $3.7M |
| INCY Incyte Corp. | call | New | 60,400 | $3.7M |
| VKTX Viking Therapeutics Inc. | call | New | 150,000 | $3.6M |
| RARE Ultragenyx Pharmaceutical Inc. | put | New | 100,000 | $3.6M |
| VRDN Viridian Therapeutics Inc. | call | Sold out | 175,100 | $3.4Mbefore exit |
| ANAB Anaptysbio Inc. | call | Sold out | 250,000 | $3.3Mbefore exit |
| SRRK Scholar Rock Holding Corp. | call | Reduce -2.1% | 100,000 | $3.2M |
| QURE Uniqure NV | call | New | 300,000 | $3.2M |
| TEVA Teva Pharmaceutical-SP ADR | call | Add +100.0% | 200,000 | $3.1M |
| RNAM Avidity Biosciences Inc. | call | Sold out | 100,000 | $2.9Mbefore exit |
| KYMR Kymera Therapeutics Inc. | call | New | 100,000 | $2.7M |
| APGE Apogee Therapeutics Inc. | put | New | 70,700 | $2.6M |
Showing the first 50 of 79.
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 126 | $610.9M | ABVX, KOD, ALMS, PRAX, PCVX |
| Q1 2026 | 127 | $699.0M | TERN, KOD, ALMS, PCVX, PRAX |
| Q4 2025 | 135 | $772.6M | TERN, CDTX, ABVX, JAZZ, MAZE |
| Q3 2025 | 116 | $494.3M | GMAB, ABVX, IONS, CDTX, MAZE |
| Q2 2025 | 103 | $302.2M | CDTX, ALNY, INSM, VRNA, CRNX |
| Q1 2025 | 116 | $306.9M | TARS, CRNX, SPY, SRPT, BPMC |
| Q4 2024 | 122 | $350.2M | TARS, CRNX, SRRK, BPMC, FBRX |
| Q3 2024 | 96 | $322.0M | TARS, CRNX, ELVN, RCUS, VRDN |
| Q2 2024 | 85 | $320.5M | SRPT, CRNX, TARS, SLNO, CRBP |
| Q1 2024Amended | 82 | $367.7M | CRNX, TARS, SLNO, CRBP, SRPT |