Ikarian Capital, LLC 13F holdings, Q2 2025
Holdings as of June 30, 2025 · filings on SEC EDGAR · latest filing →
Ikarian Capital, LLC disclosed 103 US equity positions worth $302.2m in its Q2 2025 13F filing. The largest position was CDTX at 7.5% of the reported book, followed by ALNY and INSM. Against the Q1 2025 filing, it opened 10 new positions, added to 14 and reduced 16 among the top 50 holdings.
What did Ikarian Capital, LLC own in Q2 2025? Top 50 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q1 2025 |
|---|---|---|---|---|---|---|---|
| 1 | CDTX CIDARA THERAPEUTICS INC | 7.5% | $22.6m | 464,488 | 87% | added | |
| 2 | ALNY ALNYLAM PHARMACEUTICALS INC | Healthcare | 6.1% | $18.5m | 56,594 | 79% | added |
| 3 | INSM INSMED INC | Healthcare | 5.5% | $16.5m | 163,751 | 93% | added |
| 4 | VRNA VERONA PHARMA PLC | 4.6% | $13.9m | 146,831 | 13% | added | |
| 5 | CRNXGBP CRINETICS PHARMACEUTICALS IN | 4.1% | $12.5m | 433,431 | -17% | reduced | |
| 6 | AKERO THERAPEUTICS INC | 3.9% | $11.7m | 220,000 | -10% | reduced | |
| 7 | PRAX PRAXIS PRECISION MEDICINES I | Healthcare | 3.9% | $11.6m | 276,950 | 90% | added |
| 8 | APGE APOGEE THERAPEUTICS INC | Healthcare | 3.3% | $10.1m | 232,047 | – | new |
| 9 | PCVX VAXCYTE INC | Healthcare | 3.3% | $9.9m | 305,000 | 52% | added |
| 10 | ALPHA COGNITION INC | 2.8% | $8.6m | 917,867 | -5% | reduced | |
| 11 | TARS TARSUS PHARMACEUTICALS INC | Healthcare | 2.6% | $8.0m | 196,536 | -59% | reduced |
| 12 | CYTK CYTOKINETICS INC | Healthcare | 2.6% | $7.7m | 233,464 | 56% | added |
| 13 | SRPT SAREPTA THERAPEUTICS INC | Healthcare | 2.5% | $7.7m | 449,087 | 166% | added |
| 14 | TGTX TG THERAPEUTICS INC | Healthcare | 2.5% | $7.6m | 209,938 | -0% | held |
| 15 | COGT COGENT BIOSCIENCES INC | Healthcare | 2.5% | $7.4m | 1,035,528 | – | new |
| 16 | VRDN VIRIDIAN THERAPEUTICS INC | Healthcare | 2.2% | $6.6m | 469,949 | -5% | reduced |
| 17 | ARVN ARVINAS INC | Healthcare | 2.1% | $6.3m | 850,000 | 270% | added |
| 18 | FBRX FORTE BIOSCIENCES INC | 2.0% | $6.2m | 476,443 | -22% | reduced | |
| 19 | VIR VIR BIOTECHNOLOGY INC | Healthcare | 1.8% | $5.4m | 1,068,062 | 0% | held |
| 20 | CATALYST PHARMACEUTICALS INC | 1.5% | $4.5m | 209,649 | -16% | reduced | |
| 21 | DCTH DELCATH SYS INC | 1.5% | $4.4m | 322,390 | 221% | added | |
| 22 | JAZZ JAZZ PHARMACEUTICALS PLC | Healthcare | 1.4% | $4.2m | 40,000 | – | new |
| 23 | CGON CG ONCOLOGY INC | Healthcare | 1.3% | $4.0m | 155,000 | – | new |
| 24 | STIM NEURONETICS INC | Healthcare | 1.3% | $3.8m | 1,099,700 | -0% | held |
| 25 | GPCR STRUCTURE THERAPEUTICS INC | Healthcare | 1.3% | $3.8m | 183,085 | -31% | reduced |
| 26 | NEWAMSTERDAM PHARMA COMPANY | 1.2% | $3.7m | 206,800 | – | new | |
| 27 | DYN DYNE THERAPEUTICS INC | Healthcare | 1.1% | $3.5m | 363,837 | 1% | added |
| 28 | TECX TECTONIC THERAPEUTIC INC | Healthcare | 1.1% | $3.3m | 163,696 | -39% | reduced |
| 29 | MAZE MAZE THERAPEUTICS INC | 1.1% | $3.2m | 262,740 | -19% | reduced | |
| 30 | JANX JANUX THERAPEUTICS INC | Healthcare | 1.0% | $3.0m | 129,691 | 0% | held |
| 31 | FULC FULCRUM THERAPEUTICS INC | Healthcare | 1.0% | $2.9m | 428,521 | 114% | added |
| 32 | ELDN ELEDON PHARMACEUTICALS INC | 0.9% | $2.7m | 1,000,221 | -2% | reduced | |
| 33 | BIIB BIOGEN INC | Healthcare | 0.9% | $2.7m | 21,516 | – | new |
| 34 | VKTX VIKING THERAPEUTICS INC | Healthcare | 0.9% | $2.7m | 100,000 | 100% | added |
| 35 | RLAY RELAY THERAPEUTICS INC | Healthcare | 0.9% | $2.6m | 743,308 | 0% | held |
| 36 | ARCT ARCTURUS THERAPEUTICS HLDGS | Healthcare | 0.8% | $2.3m | 175,000 | 0% | held |
| 37 | GERN GERON CORP | Healthcare | 0.7% | $2.3m | 1,600,000 | 967% | added |
| 38 | 4XC1 KALVISTA PHARMACEUTICALS INC | 0.7% | $2.2m | 198,528 | – | new | |
| 39 | KOD KODIAK SCIENCES INC | Healthcare | 0.7% | $2.2m | 599,534 | -8% | reduced |
| 40 | LXEO LEXEO THERAPEUTICS INC | Healthcare | 0.7% | $2.2m | 550,029 | 0% | held |
| 41 | METSERA INC | 0.7% | $2.2m | 77,316 | -48% | reduced | |
| 42 | VTYXUSD VENTYX BIOSCIENCES INC | 0.7% | $2.1m | 967,590 | -21% | reduced | |
| 43 | CPIX CUMBERLAND PHARMACEUTICALS I | 0.7% | $2.0m | 595,932 | -19% | reduced | |
| 44 | PROQR THRAPEUTICS N V | 0.6% | $1.8m | 868,069 | – | new | |
| 45 | SRRK SCHOLAR ROCK HLDG CORP | Healthcare | 0.6% | $1.7m | 49,179 | -80% | reduced |
| 46 | DRUG BRIGHT MINDS BIOSCIENCES INC | Healthcare | 0.6% | $1.7m | 65,431 | 0% | held |
| 47 | QURE UNIQURE NV | 0.6% | $1.7m | 119,986 | – | new | |
| 48 | SLN SILENCE THERAPEUTICS PLC | 0.5% | $1.4m | 873,568 | – | new | |
| 49 | RCUS ARCUS BIOSCIENCES INC | Healthcare | 0.4% | $1.3m | 163,363 | 0% | held |
| 50 | APLSUSD APELLIS PHARMACEUTICALS INC | 0.4% | $1.3m | 75,000 | 0% | held |
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.