Ikarian Capital, LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Ikarian Capital, LLC reported 127 stock positions worth $699.0 million. Its top holding was Terns Pharmaceuticals (TERN) at 11.0% of the portfolio, followed by Kodiak Sciences (KOD, 6.9%) and Alumis (ALMS, 3.8%). Compared with Q4 2025, it opened 16 new positions, sold out of 24, added to 28 and reduced 18. The biggest buy was Kodiak Sciences (KOD, shares +76%) and the biggest sale an exit from Cidara Therapeutics (CDTX).
- Most Recent 13F
- Q2 2026
- Location
- DALLAS, TX
- CIK
- 0001778253
- Portfolio Value
- $699.0M (Q1 2026)
- SEC Filing
- 0001420506-26-001165 ↗ filed May 15, 2026
Holdings Value
Holdings 127 stocks · $699.0M
| TERN Terns Pharmaceuticals Inc. | 10.98% | 1,456,378 | $76.8M | Reduce -8.8% |
| KOD Kodiak Sciences Inc. | 6.90% | 1,265,795 | $48.3M | Add +75.9% |
| ALMS Alumis Inc. | 3.82% | 1,213,548 | $26.7M | New |
| PCVX Vaxcyte Inc. | 3.56% | 428,682 | $24.9M | Add +13.2% |
| PRAX Praxis Precision Medicines I | 3.30% | 71,581 | $23.1M | Reduce -17.3% |
| HROW Harrow Inc. | 2.74% | 543,047 | $19.1M | Add +196.2% |
| RLMD Relmada Therapeutics Inc. | 2.68% | 2,688,359 | $18.7M | Reduce -12.4% |
| CYTK Cytokinetics Inc. | 2.67% | 283,572 | $18.7M | Add +64.2% |
| TENX Tenax Therapeutics Inc. | 2.33% | 1,017,600 | $16.3M | Add +5.2% |
| CAPR Capricor Therapeutics Inc. | 2.30% | 528,015 | $16.1M | Reduce -8.7% |
| RVMD Revolution Medicines Inc. | 2.27% | 163,142 | $15.9M | Add +18.1% |
| CLDX Celldex Therapeutics Inc. | 2.09% | 461,247 | $14.6M | New |
| PHVS Pharvaris NV | 1.97% | 486,856 | $13.8M | No change |
| CNTB Connect Biopharma Holdings L | 1.88% | 5,388,486 | $13.1M | Add +12.5% |
| DRUG Bright Minds Biosciences Inc. | 1.74% | 166,647 | $12.2M | Add +4.5% |
| BBIO Bridgebio Pharma Inc. | 1.70% | 160,120 | $11.9M | New |
| ORKA Oruka Therapeutics Inc. | 1.70% | 242,021 | $11.9M | New |
| ANRO Alto Neuroscience Inc. | 1.66% | 515,000 | $11.6M | No change |
| SLNO Soleno Therapeutics Inc. | 1.65% | 344,123 | $11.5M | Add +400.0% |
| MAZE Maze Therapeutics Inc. | 1.62% | 378,999 | $11.3M | Reduce -41.2% |
| ANIP Ani Pharmaceuticals Inc. | 1.62% | 147,085 | $11.3M | New |
| CTNM Contineum Therapeutics Inc. Class A | 1.51% | 807,874 | $10.6M | Add +185.6% |
| RARE Ultragenyx Pharmaceutical Inc. | 1.45% | 482,571 | $10.1M | Add +3708.5% |
| IONS Ionis Pharmaceuticals Inc. | 1.36% | 127,038 | $9.5M | Reduce -37.1% |
| OLMA Olema Pharmaceuticals Inc. | 1.28% | 598,281 | $8.9M | Reduce -21.1% |
| EPRX Eupraxia Pharmaceuticals Inc. | 1.26% | 1,214,741 | $8.8M | Add +99.1% |
| DMRA Damora Therapeutics Inc. | 1.24% | 335,710 | $8.7M | Add +17.5% |
| PVLA Palvella Therapeutics Inc. | 1.15% | 64,626 | $8.1M | New |
| FULC Fulcrum Therapeutics Inc. | 1.15% | 1,049,161 | $8.0M | Reduce -23.7% |
| VERA Vera Therapeutics Inc. | 1.15% | 200,000 | $8.0M | New |
| SPRB Spruce Biosciences Inc. | 1.13% | 121,356 | $7.9M | No change |
| IVA Inventiva SA - ADR | 1.12% | 1,429,101 | $7.8M | Add +184.3% |
| JBIO Jade Biosciences Inc. | 1.03% | 512,349 | $7.2M | Add +70.8% |
| OCGN Ocugen Inc. | 1.03% | 3,962,972 | $7.2M | New |
| ZURA Zura Bio Ltd. | 1.02% | 1,193,492 | $7.1M | Add +48.8% |
| OVID Ovid Therapeutics Inc. | 0.92% | 2,894,704 | $6.4M | Add +1069.3% |
| ABVX Abivax SA-ADR | 0.89% | 57,635 | $6.2M | Reduce -72.0% |
| LLY Eli Lilly & Co. | 0.86% | 6,547 | $6.0M | Reduce -52.6% |
| ACOG Alpha Cognition Inc. | 0.83% | 1,056,259 | $5.8M | No change |
| PTHS Pelthos Therapeutics Inc. | 0.77% | 256,598 | $5.4M | Add +0.3% |
| SRZN Surrozen Inc. | 0.72% | 173,107 | $5.0M | Add +163.1% |
| TECX Tectonic Therapeutic Inc. | 0.70% | 157,537 | $4.9M | New |
| ALEC Alector Inc. | 0.64% | 2,082,606 | $4.5M | No change |
| LEGN Legend Biotech Corp.-ADR | 0.59% | 226,888 | $4.1M | No change |
| KPTI Karyopharm Therapeutics Inc. | 0.58% | 733,435 | $4.1M | Add +34.7% |
| LPCN Lipocine Inc. | 0.58% | 508,556 | $4.1M | Add +154.9% |
| DCTH Delcath Systems Inc. | 0.57% | 431,251 | $4.0M | No change |
| ARVN Arvinas Inc. | 0.54% | 358,257 | $3.8M | No change |
| CMPS Compass Pathways PLC | 0.53% | 675,000 | $3.7M | Add +68.8% |
| CRDL Cardiol Therapeutics Inc. Class A | 0.53% | 2,725,000 | $3.7M | New |
| BHVN Biohaven Ltd. | 0.50% | 412,481 | $3.5M | Add +94.1% |
| IVVD Invivyd Inc. | 0.49% | 2,656,570 | $3.5M | No change |
| ANNX Annexon Inc. | 0.46% | 580,244 | $3.2M | Add +152.0% |
| FBRX Forte Biosciences Inc. | 0.44% | 118,972 | $3.1M | Reduce -60.3% |
| LXEO Lexeo Therapeutics Inc. | 0.42% | 513,011 | $2.9M | No change |
| FRNM Freenome Inc. filed as PERCEPTIVE CAP SOLUTIONS COR | 0.38% | 240,951 | $2.6M | No change |
| VIR Vir Biotechnology Inc. | 0.38% | 293,258 | $2.6M | Reduce -49.1% |
| NXTC Nextcure Inc. | 0.36% | 238,303 | $2.5M | No change |
| NMRA Neumora Therapeutics Inc. | 0.36% | 1,278,408 | $2.5M | No change |
| ABOS Acumen Pharmaceuticals Inc. | 0.36% | 1,053,797 | $2.5M | Add +314.4% |
| CABA Cabaletta Bio Inc. | 0.35% | 900,000 | $2.4M | No change |
| BBOT Bridgebio Oncology Therapeut | 0.35% | 270,231 | $2.4M | Add +22.7% |
| PRQR Proqr Therapeutics NV | 0.35% | 1,492,229 | $2.4M | No change |
| NUVL Nuvalent Inc. Class A | 0.35% | 23,594 | $2.4M | Reduce -60.4% |
| JAZZ Jazz Pharmaceuticals PLC | 0.34% | 12,460 | $2.4M | Reduce -92.2% |
| DBVT DBV Technologies SA-Spon ADR | 0.31% | 525,000 | $2.2M | No change |
| TARS Tarsus Pharmaceuticals Inc. | 0.31% | 31,166 | $2.2M | No change |
| KLRS Kalaris Therapeutics Inc. | 0.30% | 360,000 | $2.1M | No change |
| AVR Anteris Technologies Global | 0.29% | 366,571 | $2.0M | New |
| SLDB Solid Biosciences Inc. | 0.27% | 264,409 | $1.9M | Add +64.8% |
| IBIO Ibio Inc. | 0.26% | 957,062 | $1.8M | No change |
| CPIX Cumberland Pharmaceuticals | 0.26% | 553,153 | $1.8M | Reduce -0.5% |
| SLN Silence Therapeutics PLC-ADR | 0.25% | 865,784 | $1.7M | No change |
| LABD Dire DLY SP BT Be 3X ETF-Usd | 0.25% | 105,822 | $1.7M | Add +159.2% |
| QURE Uniqure NV | 0.21% | 91,060 | $1.5M | No change |
| QNRX Quoin Pharmaceuticals LT-ADR | 0.20% | 211,538 | $1.4M | No change |
| TRAW Traws Pharma Inc. | 0.18% | 678,142 | $1.2M | No change |
| DERM Journey Medical Corp. | 0.17% | 251,436 | $1.2M | No change |
| VSTM Verastem Inc. | 0.16% | 213,865 | $1.1M | No change |
| DFTX Definium Therapeutics Inc. | 0.16% | 58,803 | $1.1M | No change |
| STIM Neuronetics Inc. | 0.15% | 701,182 | $1.0M | No change |
| LYEL Lyell Immunopharma Inc. | 0.12% | 41,081 | $824K | No change |
| PEPG Pepgen Inc. | 0.11% | 447,165 | $791K | No change |
| KZR Kezar Life Sciences Inc. | 0.11% | 102,211 | $758K | No change |
| IMUX Immunic Inc. | 0.11% | 674,662 | $749K | No change |
| CNTA Centessa Pharmaceuticals Ltd. | 0.10% | 18,113 | $719K | New |
| KALV Kalvista Pharmaceuticals Inc. | 0.10% | 35,119 | $707K | No change |
| PMN Promis Neurosciences Inc. | 0.10% | 55,000 | $699K | New |
| INSM Insmed Inc. | 0.10% | 4,214 | $689K | Reduce -54.9% |
| HELP Cybin Inc. | 0.09% | 132,153 | $634K | No change |
| ACAD Acadia Pharmaceuticals Inc. | 0.09% | 28,099 | $625K | New |
| WVE Wave Life Sciences Ltd. | 0.09% | 85,285 | $618K | No change |
| EQ Equillium Inc. | 0.09% | 303,555 | $607K | No change |
| PASG Passage Bio Inc. | 0.08% | 68,124 | $535K | New |
| GUTS Fractyl Health Inc. | 0.07% | 1,100,000 | $504K | No change |
| PALI Palisade Bio Inc. | 0.07% | 274,978 | $481K | No change |
| IMTX Immatics NV | 0.07% | 48,569 | $478K | No change |
| VKTX Viking Therapeutics Inc. | 0.05% | 9,717 | $316K | No change |
| SGMOQ Sangamo Therapeutics Inc. | 0.04% | 1,218,671 | $301K | No change |
| VTGN Vistagen Therapeutics Inc. | 0.04% | 519,077 | $297K | No change |
| VERU Veru Inc. | 0.04% | 133,517 | $295K | No change |
| EVAX Evaxion A/S | 0.04% | 74,698 | $278K | No change |
| LXRX Lexicon Pharmaceuticals Inc. | 0.04% | 164,674 | $257K | No change |
| ANL Adlai Nortye Group Ltd. | 0.03% | 33,899 | $235K | New |
| MGNX Macrogenics Inc. | 0.03% | 74,893 | $216K | No change |
| VYGR Voyager Therapeutics Inc. | 0.03% | 53,063 | $205K | No change |
| FTH Faeth Therapeutics Inc. filed as SENSEI BIOTHERAPEUTICS INC | 0.03% | 6,351 | $200K | Reduce -70.3% |
| NEUP Neuphoria Therapeutics Inc. | 0.03% | 47,443 | $193K | No change |
| VYNE THERAPEUTICS INC | 0.02% | 264,912 | $158K | No change |
| PURR Hyperliquid Strategies | 0.02% | 30,001 | $153K | No change |
| NYXH Nyxoah SA | 0.02% | 47,358 | $138K | No change |
| RNAC Cartesian Therapeutics Inc. | 0.02% | 20,807 | $128K | No change |
| PMVP PMV Pharmaceuticals Inc. | 0.02% | 89,136 | $111K | No change |
| CNSP CNS Pharmaceuticals Inc. | 0.02% | 45,830 | $110K | No change |
| CMPX Compass Therapeutics Inc. | 0.01% | 18,000 | $95K | Reduce -97.8% |
| IOBTQ Io Biotech Inc. | 0.01% | 1,386,565 | $81K | No change |
| CMMB Chemomab Therapeutics Ltd. | 0.01% | 51,793 | $81K | No change |
| BIOMX INC | 0.01% | 19,473 | $73K | No change |
| RZLT Rezolute Inc. | 0.01% | 16,479 | $50K | No change |
| MGRX Mangoceuticals Inc. | 0.01% | 138,146 | $50K | No change |
| SHUTTLE PHARMACTCLS HLDGS IN | 0.01% | 68,993 | $47K | No change |
| AIRS Airsculpt Technologies Inc. | 0.01% | 16,398 | $46K | No change |
| AETHLON MED INC | 0.00% | 14,364 | $31K | No change |
| GCTK Glucotrack Inc. | 0.00% | 45,830 | $30K | No change |
| TOVX Theriva Biologics Inc. | 0.00% | 112,076 | $22K | No change |
| JSPR Jasper Therapeutics Inc. | 0.00% | 24,093 | $21K | No change |
| AUTONOMIX MED INC | 0.00% | 18,688 | $7K | No change |
Options reported separately and not counted above: XBI puts ($102.2M), TERN puts ($63.3M), QQQ puts ($57.7M), IWM puts ($49.6M), CYTK puts ($36.3M), ABVX calls ($32.7M), BMY puts ($30.3M), CYTK calls ($26.9M), NVO calls ($14.7M), ANIP calls ($11.5M), CAPR calls ($10.6M), RVMD puts ($9.2M), and 22 more.
Portfolio Sells Q4 2025 → Q1 2026
| CDTX Cidara Therapeutics Inc. | Sold out | 0.00% | −7.81 |
| JAZZ Jazz Pharmaceuticals PLC | Reduce -92.2% | 0.34% | −3.19 |
| RAPT Rapt Therapeutics Inc. | Sold out | 0.00% | −2.92 |
| ABVX Abivax SA-ADR | Reduce -72.0% | 0.89% | −2.88 |
| AMGN Amgen Inc. | Sold out | 0.00% | −1.91 |
| MAZE Maze Therapeutics Inc. | Reduce -41.2% | 1.62% | −1.84 |
| CTMX Cytomx Therapeutics Inc. | Sold out | 0.00% | −1.75 |
| CELC Celcuity Inc. | Sold out | 0.00% | −1.36 |
| OLMA Olema Pharmaceuticals Inc. | Reduce -21.1% | 1.28% | −1.18 |
| PTCT PTC Therapeutics Inc. | Sold out | 0.00% | −1.17 |
| VTYX Ventyx Biosciences Inc. | Sold out | 0.00% | −1.12 |
| CGON CG Oncology Inc. | Sold out | 0.00% | −1.07 |
| LLY Eli Lilly & Co. | Reduce -52.6% | 0.86% | −1.06 |
| NBIX Neurocrine Biosciences Inc. | Sold out | 0.00% | −0.99 |
| MLYS Mineralys Therapeutics Inc. | Sold out | 0.00% | −0.94 |
| FULC Fulcrum Therapeutics Inc. | Reduce -23.7% | 1.15% | −0.86 |
| CORT Corcept Therapeutics Inc. | Sold out | 0.00% | −0.84 |
| IONS Ionis Pharmaceuticals Inc. | Reduce -37.1% | 1.36% | −0.70 |
| FBRX Forte Biosciences Inc. | Reduce -60.3% | 0.44% | −0.62 |
| ADMA Adma Biologics Inc. | Sold out | 0.00% | −0.55 |
| CMPX Compass Therapeutics Inc. | Reduce -97.8% | 0.01% | −0.54 |
| KRYS Krystal Biotech Inc. | Sold out | 0.00% | −0.47 |
| TGTX TG Therapeutics Inc. | Sold out | 0.00% | −0.45 |
| NUVL Nuvalent Inc. Class A | Reduce -60.4% | 0.35% | −0.43 |
| AGIO Agios Pharmaceuticals Inc. | Sold out | 0.00% | −0.41 |
| ERAS Erasca Inc. | Sold out | 0.00% | −0.35 |
| APLS Apellis Pharmaceuticals Inc. | Sold out | 0.00% | −0.23 |
| NAMS Newamsterdam Pharma Co. NV | Sold out | 0.00% | −0.21 |
| CPRX Catalyst Pharmaceuticals Inc. | Sold out | 0.00% | −0.17 |
| INSM Insmed Inc. | Reduce -54.9% | 0.10% | −0.11 |
| VIR Vir Biotechnology Inc. | Reduce -49.1% | 0.38% | −0.07 |
| AVTX Avalo Therapeutics Inc. | Sold out | 0.00% | −0.07 |
| GPCR Structure Therapeutics Inc. | Sold out | 0.00% | −0.04 |
| CPIX Cumberland Pharmaceuticals | Reduce -0.5% | 0.26% | −0.03 |
| LYRA Lyra Therapeutics Inc. | Sold out | 0.00% | −0.01 |
| PRAX Praxis Precision Medicines I | Reduce -17.3% | 3.30% | −0.00 |
| SYBX Synlogic Inc. | Sold out | 0.00% | −0.00 |
| ANEB Anebulo Pharmaceuticals Inc. | Sold out | 0.00% | −0.00 |
| FTH Faeth Therapeutics Inc. | Reduce -70.3% | 0.03% | −0.00 |
| CAPR Capricor Therapeutics Inc. | Reduce -8.7% | 2.30% | +0.14 |
| RLMD Relmada Therapeutics Inc. | Reduce -12.4% | 2.68% | +0.76 |
| TERN Terns Pharmaceuticals Inc. | Reduce -8.8% | 10.98% | +2.64 |
Portfolio Buys Q4 2025 → Q1 2026
| KOD Kodiak Sciences Inc. | Add +75.9% | 6.90% | +4.30 |
| ALMS Alumis Inc. | New | 3.82% | +3.82 |
| CLDX Celldex Therapeutics Inc. | New | 2.09% | +2.09 |
| BBIO Bridgebio Pharma Inc. | New | 1.70% | +1.70 |
| ORKA Oruka Therapeutics Inc. | New | 1.70% | +1.70 |
| ANIP Ani Pharmaceuticals Inc. | New | 1.62% | +1.62 |
| HROW Harrow Inc. | Add +196.2% | 2.74% | +1.58 |
| RARE Ultragenyx Pharmaceutical Inc. | Add +3708.5% | 1.45% | +1.41 |
| PCVX Vaxcyte Inc. | Add +13.2% | 3.56% | +1.30 |
| CYTK Cytokinetics Inc. | Add +64.2% | 2.67% | +1.25 |
| SLNO Soleno Therapeutics Inc. | Add +400.0% | 1.65% | +1.24 |
| PVLA Palvella Therapeutics Inc. | New | 1.15% | +1.15 |
| VERA Vera Therapeutics Inc. | New | 1.15% | +1.15 |
| CTNM Contineum Therapeutics Inc. Class A | Add +185.6% | 1.51% | +1.09 |
| OCGN Ocugen Inc. | New | 1.03% | +1.03 |
| OVID Ovid Therapeutics Inc. | Add +1069.3% | 0.92% | +0.87 |
| RVMD Revolution Medicines Inc. | Add +18.1% | 2.27% | +0.85 |
| IVA Inventiva SA - ADR | Add +184.3% | 1.12% | +0.82 |
| TENX Tenax Therapeutics Inc. | Add +5.2% | 2.33% | +0.80 |
| TECX Tectonic Therapeutic Inc. | New | 0.70% | +0.70 |
| EPRX Eupraxia Pharmaceuticals Inc. | Add +99.1% | 1.26% | +0.66 |
| SRZN Surrozen Inc. | Add +163.1% | 0.72% | +0.53 |
| CRDL Cardiol Therapeutics Inc. Class A | New | 0.53% | +0.53 |
| ZURA Zura Bio Ltd. | Add +48.8% | 1.02% | +0.47 |
| JBIO Jade Biosciences Inc. | Add +70.8% | 1.03% | +0.43 |
| DMRA Damora Therapeutics Inc. | Add +17.5% | 1.24% | +0.39 |
| LPCN Lipocine Inc. | Add +154.9% | 0.58% | +0.37 |
| ANNX Annexon Inc. | Add +152.0% | 0.46% | +0.31 |
| AVR Anteris Technologies Global | New | 0.29% | +0.29 |
| ABOS Acumen Pharmaceuticals Inc. | Add +314.4% | 0.36% | +0.29 |
| BHVN Biohaven Ltd. | Add +94.1% | 0.50% | +0.19 |
| CMPS Compass Pathways PLC | Add +68.8% | 0.53% | +0.18 |
| SLDB Solid Biosciences Inc. | Add +64.8% | 0.27% | +0.16 |
| LABD Dire DLY SP BT Be 3X ETF-Usd | Add +159.2% | 0.25% | +0.14 |
| DRUG Bright Minds Biosciences Inc. | Add +4.5% | 1.74% | +0.13 |
| CNTB Connect Biopharma Holdings L | Add +12.5% | 1.88% | +0.13 |
| CNTA Centessa Pharmaceuticals Ltd. | New | 0.10% | +0.10 |
| PMN Promis Neurosciences Inc. | New | 0.10% | +0.10 |
| ACAD Acadia Pharmaceuticals Inc. | New | 0.09% | +0.09 |
| PASG Passage Bio Inc. | New | 0.08% | +0.08 |
| KPTI Karyopharm Therapeutics Inc. | Add +34.7% | 0.58% | +0.07 |
| ANL Adlai Nortye Group Ltd. | New | 0.03% | +0.03 |
| BBOT Bridgebio Oncology Therapeut | Add +22.7% | 0.35% | −0.01 |
| PTHS Pelthos Therapeutics Inc. | Add +0.3% | 0.77% | −0.26 |
Options Activity Q4 2025 → Q1 2026
| XBI SS SPDR S&P Biotech ETF | put | Reduce -5.9% | 800,000 | $102.2M |
| CDTX Cidara Therapeutics Inc. | put | Sold out | 300,000 | $66.3Mbefore exit |
| AMGN Amgen Inc. | put | Sold out | 200,000 | $65.5Mbefore exit |
| TERN Terns Pharmaceuticals Inc. | put | New | 1,200,000 | $63.3M |
| QQQ Invesco QQQ Trust Series 1 | put | New | 100,000 | $57.7M |
| IWM iShares Russell 2000 ETF | put | New | 200,000 | $49.6M |
| CYTK Cytokinetics Inc. | put | New | 550,500 | $36.3M |
| ABVX Abivax SA-ADR | call | Add +134.4% | 293,300 | $32.7M |
| BMY Bristol-Myers Squibb Co. | put | New | 500,000 | $30.3M |
| JAZZ PHARMACEUTICALS PLC | call | Sold out | 170,000 | $28.9Mbefore exit |
| CYTK Cytokinetics Inc. | call | Add +40.4% | 408,400 | $26.9M |
| HROW Harrow Inc. | call | Sold out | 509,700 | $25.0Mbefore exit |
| SLNO Soleno Therapeutics Inc. | call | Sold out | 528,900 | $24.5Mbefore exit |
| CRNX Crinetics Pharmaceuticals Inc. | put | Sold out | 368,500 | $17.2Mbefore exit |
| OMER Omeros Corp. | put | Sold out | 950,000 | $16.3Mbefore exit |
| NVO Novo-Nordisk A/S-Spons ADR | call | New | 400,000 | $14.7M |
| ANIP Ani Pharmaceuticals Inc. | call | Add +81.2% | 150,000 | $11.5M |
| CAPR Capricor Therapeutics Inc. | call | New | 350,000 | $10.6M |
| RAPT Rapt Therapeutics Inc. | call | Sold out | 290,000 | $9.8Mbefore exit |
| OMER Omeros Corp. | call | Sold out | 550,000 | $9.4Mbefore exit |
| RVMD Revolution Medicines Inc. | put | New | 95,000 | $9.2M |
| DXCM Dexcom Inc. | call | Sold out | 137,500 | $9.1Mbefore exit |
| IONS Ionis Pharmaceuticals Inc. | call | Add +18.5% | 112,100 | $8.4M |
| CORT Corcept Therapeutics Inc. | put | Sold out | 236,700 | $8.2Mbefore exit |
| OLMA Olema Pharmaceuticals Inc. | call | Add +174.9% | 549,800 | $8.2M |
| APLS Apellis Pharmaceuticals Inc. | call | Sold out | 325,600 | $8.2Mbefore exit |
| RVMD Revolution Medicines Inc. | call | Sold out | 95,000 | $7.6Mbefore exit |
| NBIX Neurocrine Biosciences Inc. | call | Sold out | 51,000 | $7.2Mbefore exit |
| AVTX Avalo Therapeutics Inc. | call | Add +591.0% | 401,500 | $6.0M |
| RARE Ultragenyx Pharmaceutical Inc. | put | Sold out | 255,100 | $5.9Mbefore exit |
| ALMS Alumis Inc. | call | New | 264,600 | $5.8M |
| UNIQURE NV | call | Add +236.8% | 355,000 | $5.8M |
| RARE Ultragenyx Pharmaceutical Inc. | call | Sold out | 250,000 | $5.8Mbefore exit |
| CORT Corcept Therapeutics Inc. | call | Sold out | 163,800 | $5.7Mbefore exit |
| KPTI Karyopharm Therapeutics Inc. | put | New | 920,000 | $5.1M |
| KPTI Karyopharm Therapeutics Inc. | call | New | 920,000 | $5.1M |
| EYPT Eyepoint Inc. | call | New | 370,400 | $4.8M |
| EYPT Eyepoint Inc. | put | New | 370,400 | $4.8M |
| BBIO Bridgebio Pharma Inc. | call | New | 58,500 | $4.3M |
| KYMR Kymera Therapeutics Inc. | put | New | 50,400 | $4.2M |
| KOD Kodiak Sciences Inc. | call | New | 100,000 | $3.8M |
| AGIO Agios Pharmaceuticals Inc. | call | Sold out | 137,200 | $3.7Mbefore exit |
| CLDX Celldex Therapeutics Inc. | put | New | 114,000 | $3.6M |
| ARWR Arrowhead Pharmaceuticals Inc. | put | New | 57,500 | $3.6M |
| ELVN Enliven Therapeutics Inc. | put | New | 83,700 | $3.3M |
| AQST Aquestive Therapeutics Inc. | put | Sold out | 500,000 | $3.2Mbefore exit |
| VERA Vera Therapeutics Inc. | call | New | 71,700 | $2.9M |
| SLDB Solid Biosciences Inc. | call | Sold out | 424,000 | $2.4Mbefore exit |
| AVTX Avalo Therapeutics Inc. | put | New | 158,500 | $2.4M |
| REPL Replimune Group Inc. | put | New | 300,000 | $2.3M |
Showing the first 50 of 61.
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 |