Ikarian Capital, LLC 13F holdings, Q1 2025
Holdings as of March 31, 2025 · filings on SEC EDGAR · latest filing →
Ikarian Capital, LLC disclosed 116 US equity positions worth $306.9m in its Q1 2025 13F filing. The largest position was TARS at 8.1% of the reported book, followed by CRNXGBP and SPY. Against the Q4 2024 filing, it opened 14 new positions, added to 17 and reduced 14 among the top 50 holdings.
What did Ikarian Capital, LLC own in Q1 2025? Top 50 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q4 2024 |
|---|---|---|---|---|---|---|---|
| 1 | TARS TARSUS PHARMACEUTICALS INC | Healthcare | 8.1% | $24.9m | 485,021 | -20% | reduced |
| 2 | CRNXGBP CRINETICS PHARMACEUTICALS IN | 5.7% | $17.6m | 523,431 | 1% | added | |
| 3 | SPY SPDR S&P 500 ETF TR | 4.6% | $14.0m | 25,000 | – | new | |
| 4 | SRPT SAREPTA THERAPEUTICS INC | Healthcare | 3.5% | $10.8m | 169,087 | 396% | added |
| 5 | 2655787D BLUEPRINT MEDICINES CORP | 3.3% | $10.1m | 113,904 | -33% | reduced | |
| 6 | AKERO THERAPEUTICS INC | 3.2% | $9.9m | 245,000 | – | new | |
| 7 | ALNY ALNYLAM PHARMACEUTICALS INC | Healthcare | 2.8% | $8.5m | 31,594 | – | new |
| 8 | TGTX TG THERAPEUTICS INC | Healthcare | 2.7% | $8.3m | 210,065 | -28% | reduced |
| 9 | VRNA VERONA PHARMA PLC | 2.7% | $8.3m | 130,000 | 62% | added | |
| 10 | RARE ULTRAGENYX PHARMACEUTICAL IN | Healthcare | 2.6% | $7.9m | 216,989 | 21% | added |
| 11 | SRRK SCHOLAR ROCK HLDG CORP | Healthcare | 2.6% | $7.9m | 244,179 | -32% | reduced |
| 12 | PCVX VAXCYTE INC | Healthcare | 2.5% | $7.6m | 200,000 | – | new |
| 13 | VIR VIR BIOTECHNOLOGY INC | Healthcare | 2.3% | $6.9m | 1,068,062 | 19% | added |
| 14 | VRDN VIRIDIAN THERAPEUTICS INC | Healthcare | 2.2% | $6.7m | 494,949 | 5% | added |
| 15 | INSM INSMED INC | Healthcare | 2.1% | $6.5m | 84,800 | -29% | reduced |
| 16 | EWTX EDGEWISE THERAPEUTICS INC | 2.0% | $6.2m | 280,000 | – | new | |
| 17 | CATALYST PHARMACEUTICALS INC | 2.0% | $6.1m | 249,649 | -29% | reduced | |
| 18 | CYTK CYTOKINETICS INC | Healthcare | 2.0% | $6.0m | 149,982 | 0% | held |
| 19 | ELVN ENLIVEN THERAPEUTICS INC | Healthcare | 1.9% | $5.7m | 289,538 | -27% | reduced |
| 20 | PRAX PRAXIS PRECISION MEDICINES I | Healthcare | 1.8% | $5.5m | 145,502 | – | new |
| 21 | CDTX CIDARA THERAPEUTICS INC | 1.7% | $5.4m | 248,940 | 362% | added | |
| 22 | ALPHA COGNITION INC | 1.7% | $5.1m | 967,867 | 28% | added | |
| 23 | TECX TECTONIC THERAPEUTIC INC | Healthcare | 1.6% | $4.8m | 269,090 | 89% | added |
| 24 | FBRX FORTE BIOSCIENCES INC | 1.5% | $4.7m | 609,225 | 0% | held | |
| 25 | GPCR STRUCTURE THERAPEUTICS INC | Healthcare | 1.5% | $4.6m | 264,085 | -7% | reduced |
| 26 | METSERA INC | 1.3% | $4.1m | 150,000 | – | new | |
| 27 | STIM NEURONETICS INC | Healthcare | 1.3% | $4.0m | 1,100,000 | – | new |
| 28 | DYN DYNE THERAPEUTICS INC | Healthcare | 1.2% | $3.8m | 358,837 | – | new |
| 29 | TRVI TREVI THERAPEUTICS INC | Healthcare | 1.2% | $3.6m | 575,000 | 77% | added |
| 30 | MAZE MAZE THERAPEUTICS INC | 1.2% | $3.6m | 322,740 | – | new | |
| 31 | JANX JANUX THERAPEUTICS INC | Healthcare | 1.1% | $3.5m | 129,691 | 74% | added |
| 32 | ELDN ELEDON PHARMACEUTICALS INC | 1.1% | $3.5m | 1,025,221 | -9% | reduced | |
| 33 | BBIO BRIDGEBIO PHARMA INC | Healthcare | 1.0% | $3.1m | 90,837 | -58% | reduced |
| 34 | CPIX CUMBERLAND PHARMACEUTICALS I | 1.0% | $3.1m | 740,000 | – | new | |
| 35 | KROS KEROS THERAPEUTICS INC | Healthcare | 0.9% | $2.8m | 274,009 | – | new |
| 36 | ABEO ABEONA THERAPEUTICS INC | Healthcare | 0.8% | $2.5m | 533,581 | 0% | held |
| 37 | HELP CYBIN INC | 0.8% | $2.5m | 397,175 | 0% | held | |
| 38 | IBIO IBIO INC | 0.8% | $2.4m | 599,913 | 0% | held | |
| 39 | DRUG BRIGHT MINDS BIOSCIENCES INC | Healthcare | 0.8% | $2.4m | 65,431 | -57% | reduced |
| 40 | EOLS EVOLUS INC | Healthcare | 0.8% | $2.3m | 193,265 | -48% | reduced |
| 41 | RLAY RELAY THERAPEUTICS INC | Healthcare | 0.6% | $1.9m | 743,308 | 7% | added |
| 42 | LXEO LEXEO THERAPEUTICS INC | Healthcare | 0.6% | $1.9m | 550,029 | 10% | added |
| 43 | ARCT ARCTURUS THERAPEUTICS HLDGS | Healthcare | 0.6% | $1.9m | 175,000 | -12% | reduced |
| 44 | KOD KODIAK SCIENCES INC | Healthcare | 0.6% | $1.8m | 649,534 | 13% | added |
| 45 | ORKA ORUKA THERAPEUTICS INC | Healthcare | 0.6% | $1.8m | 175,000 | – | new |
| 46 | APLSUSD APELLIS PHARMACEUTICALS INC | 0.5% | $1.6m | 75,000 | 1987% | added | |
| 47 | VERVE THERAPEUTICS INC | 0.5% | $1.6m | 358,393 | 111% | added | |
| 48 | ARVN ARVINAS INC | Healthcare | 0.5% | $1.6m | 229,900 | – | new |
| 49 | AVTX AVALO THERAPEUTICS INC | Healthcare | 0.5% | $1.6m | 200,000 | -79% | reduced |
| 50 | VTGN VISTAGEN THERAPEUTICS INC | 0.5% | $1.5m | 601,703 | 675% | added |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.