Ikarian Capital
DALLAS, TXfiles as Ikarian Capital, LLC
$611m in 126 US stocks at the end of 30 June 2026. The top 10 are 39.5% of the money. It changed about 37.1% of the portfolio this quarter.
Value
$611m
Stocks
126
Top 10 share
39.5%
Turnover
37.1%
What changed this quarter
New
Bought for the first time this quarter.
- Arcus BiosciencesRCUS2.5% of the fund
- Cogent BiosciencesCOGT2.3% of the fund
- C4 TherapeuticsCCCC1.9% of the fund
- Viridian TherapeuticsVRDN1.3% of the fund
- Hims & Hers HealthHIMS1.1% of the fund
- Enliven TherapeuticsELVN1.1% of the fund
- Kazia TherapeuticsKZIA0.9% of the fund
- Q32 BioQTTB0.9% of the fund
- BioAge LabsBIOA0.8% of the fund
- Monopar TherapeuticsMNPR0.7% of the fund
- AbsciABSI0.7% of the fund
- Climb BioCLYM0.6% of the fund
- Cue BiopharmaCUE0.5% of the fund
- Arrowhead PharmaceuticalsARWR0.5% of the fund
- Rein TherapeuticsRNTX0.5% of the fund
- Amylyx PharmaceuticalsAMLX0.3% of the fund
- Avalo TherapeuticsAVTX0.3% of the fund
- Amanat AcquisitionAMAN0.2% of the fund
- Quince TherapeuticsQNCX0.2% of the fund
- ImmunomeIMNM0.2% of the fund
- Pliant TherapeuticsPLRX0.2% of the fund
- ImmunicIMUX0.2% of the fund
- First Tracks BiotherapeuticsTRAX0.1% of the fund
- Elicio TherapeuticsELTX<0.1% of the fund
- InMed PharmaceuticalsINM<0.1% of the fund
Added
Bought more of a stock they already held.
- Abivax SAABVX7.1% of the fund+470%
- ANI PharmaceuticalsANIP3.7% of the fund+85%
- Celldex TherapeuticsCLDX2.9% of the fund+4%
- Capricor TherapeuticsCAPR2.4% of the fund+14%
- Vera TherapeuticsVERA2.2% of the fund+55%
- BiohavenBHVN1.8% of the fund+81%
- Zura BioZURA1.2% of the fund+2%
- Tectonic TherapeuticTECX1.2% of the fund+31%
- ProQR TherapeuticsPRQR1.0% of the fund+130%
- RezoluteRZLT0.8% of the fund+5574%
- Cardiol TherapeuticsCRDL0.6% of the fund+22%
- ProMIS NeurosciencesPMN0.4% of the fund+273%
- Palisade BIOPALI0.3% of the fund+173%
- Faeth TherapeuticsFTH0.1% of the fund+457%
- CNS PharmaceuticalsCNSP0.1% of the fund+196%
- Passage BIOPASG<0.1% of the fund+46%
- NextCureNXTC<0.1% of the fund+21%
Cut
Sold some of their stake.
- Kodiak SciencesKOD6.8% of the fund-16%
- AlumisALMS4.0% of the fund-28%
- VaxcytePCVX3.7% of the fund-9%
- Relmada TherapeuticsRLMD2.4% of the fund-20%
- Tenax TherapeuticsTENX1.9% of the fund-23%
- Connect Biopharma HoldingsCNTB1.8% of the fund-16%
- Alto NeuroscienceANRO1.8% of the fund-21%
- PharvarisPHVS1.7% of the fund-37%
- Jade BiosciencesJBIO1.6% of the fund-17%
- Bright Minds BiosciencesDRUG1.0% of the fund-47%
- Ovid TherapeuticsOVID1.0% of the fund-22%
- Alpha CognitionACOG1.0% of the fund-21%
- HarrowHROW0.9% of the fund-75%
- Ultragenyx PharmaceuticalRARE0.9% of the fund-66%
- Eupraxia PharmaceuticalsEPRX0.9% of the fund-33%
- Olema PharmaceuticalsOLMA0.8% of the fund-36%
- BridgeBio PharmaBBIO0.7% of the fund-64%
- InventivaIVA0.7% of the fund-21%
- AlectorALEC0.7% of the fund-5%
- Cumberland PharmaceuticalsCPIX0.5% of the fund-9%
- AnnexonANNX0.4% of the fund-26%
- Delcath SystemsDCTH0.4% of the fund-57%
- Cabaletta BioCABA0.4% of the fund-22%
- Silence TherapeuticsSLN0.3% of the fund-4%
- Anteris Technologies GlobalAVR0.3% of the fund-55%
Sold out
Sold their entire stake.
- Terns Pharmaceuticals-100%
- CytokineticsCYTK-100%
- Revolution MedicinesRVMD-100%
- Oruka TherapeuticsORKA-100%
- Soleno Therapeutics-100%
- Ionis PharmaceuticalsIONS-100%
- Palvella TherapeuticsPVLA-100%
- Eli LillyLLY-100%
- SurrozenSRZN-100%
- Legend BiotechLEGN-100%
- Karyopharm TherapeuticsKPTI-100%
- FreenomeFRNM-100%
- Vir BiotechnologyVIR-100%
- BridgeBio Oncology TherapeuticsBBOT-100%
- Nuvalent-100%
- Jazz PharmaceuticalsJAZZ-100%
- uniQureQURE-100%
- Definium TherapeuticsDFTX-100%
- Kezar Life Sciences-100%
- ImmunicIMUX-100%
- Centessa Pharmaceuticals-100%
- Kalvista Pharmaceuticals-100%
- InsmedINSM-100%
- Sangamo TherapeuticsSGMOQ-100%
- VeruVERU-100%
Holdings
- Abivax SAABVX
- Share
- 7.1%
- Value
- $43m
- Shares
- 328,635
+470%
- Damora Therapeutics
- Share
- 1.4%
- Value
- $9m
- Shares
- 335,710
Held
- Bright Minds BiosciencesDRUG
- Share
- 1.0%
- Value
- $6m
- Shares
- 88,951
-47%
- Kazia TherapeuticsKZIA
- Share
- 0.9%
- Value
- $6m
- Shares
- 396,201
New
- Eupraxia PharmaceuticalsEPRX
- Share
- 0.9%
- Value
- $5m
- Shares
- 809,741
-33%
- Cardiol TherapeuticsCRDL
- Share
- 0.6%
- Value
- $4m
- Shares
- 3,325,000
+22%
- DBV Technologies S ADBVT
- Share
- 0.3%
- Value
- $2m
- Shares
- 525,000
Held
- Amanat AcquisitionAMAN
- Share
- 0.2%
- Value
- $2m
- Shares
- 150,000
New
- Quoin PharmaceuticalsQNRX
- Share
- 0.2%
- Value
- $1m
- Shares
- 211,538
Held
- Helus PharmaHELP
- Share
- 0.1%
- Value
- $873,532
- Shares
- 132,153
Held
- First Tracks BiotherapeuticsTRAX
- Share
- 0.1%
- Value
- $860,633
- Shares
- 42,775
New
- Direxion Shares ETF TrustLABD
- Share
- 0.1%
- Value
- $815,887
- Shares
- 105,822
Held
- Forte Biosciences
- Share
- <0.1%
- Value
- $445,655
- Shares
- 20,972
-82%
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Abivax SAABVX | 7.1% | $43m | 328,635 | +470% |
| Kodiak SciencesKOD | 6.8% | $41m | 1,059,730 | -16% |
| AlumisALMS | 4.0% | $24m | 870,548 | -28% |
| Praxis Precision MedicinesPRAX | 4.0% | $24m | 72,842 | Held |
| VaxcytePCVX | 3.7% | $23m | 388,682 | -9% |
| ANI PharmaceuticalsANIP | 3.7% | $23m | 272,085 | +85% |
| Celldex TherapeuticsCLDX | 2.9% | $18m | 478,500 | +4% |
| Arcus BiosciencesRCUS | 2.5% | $16m | 504,559 | New |
| Relmada TherapeuticsRLMD | 2.4% | $15m | 2,148,359 | -20% |
| Capricor TherapeuticsCAPR | 2.4% | $15m | 604,215 | +14% |
| Cogent BiosciencesCOGT | 2.3% | $14m | 370,084 | New |
| Vera TherapeuticsVERA | 2.2% | $13m | 310,000 | +55% |
| Contineum TherapeuticsCTNM | 2.2% | $13m | 807,874 | Held |
| Tenax TherapeuticsTENX | 1.9% | $11m | 787,600 | -23% |
| C4 TherapeuticsCCCC | 1.9% | $11m | 2,433,000 | New |
| Maze TherapeuticsMAZE | 1.9% | $11m | 378,999 | Held |
| BiohavenBHVN | 1.8% | $11m | 748,181 | +81% |
| Connect Biopharma HoldingsCNTB | 1.8% | $11m | 4,538,534 | -16% |
| Alto NeuroscienceANRO | 1.8% | $11m | 407,338 | -21% |
| PharvarisPHVS | 1.7% | $11m | 308,856 | -37% |
| Jade BiosciencesJBIO | 1.6% | $9m | 427,349 | -17% |
| Damora Therapeutics | 1.4% | $9m | 335,710 | Held |
| Viridian TherapeuticsVRDN | 1.3% | $8m | 425,000 | New |
| Pelthos TherapeuticsPTHS | 1.2% | $7m | 256,598 | Held |
| Zura BioZURA | 1.2% | $7m | 1,218,492 | +2% |
| Tectonic TherapeuticTECX | 1.2% | $7m | 205,837 | +31% |
| Spruce BiosciencesSPRB | 1.1% | $7m | 121,356 | Held |
| Hims & Hers HealthHIMS | 1.1% | $7m | 188,381 | New |
| Enliven TherapeuticsELVN | 1.1% | $6m | 126,541 | New |
| ProQR TherapeuticsPRQR | 1.0% | $6m | 3,425,930 | +130% |
| Bright Minds BiosciencesDRUG | 1.0% | $6m | 88,951 | -47% |
| Ovid TherapeuticsOVID | 1.0% | $6m | 2,269,704 | -22% |
| OcugenOCGN | 1.0% | $6m | 3,962,972 | Held |
| Alpha CognitionACOG | 1.0% | $6m | 836,259 | -21% |
| HarrowHROW | 0.9% | $6m | 135,775 | -75% |
| Kazia TherapeuticsKZIA | 0.9% | $6m | 396,201 | New |
| Ultragenyx PharmaceuticalRARE | 0.9% | $6m | 165,617 | -66% |
| Q32 BioQTTB | 0.9% | $5m | 430,000 | New |
| Eupraxia PharmaceuticalsEPRX | 0.9% | $5m | 809,741 | -33% |
| BioAge LabsBIOA | 0.8% | $5m | 200,000 | New |
| RezoluteRZLT | 0.8% | $5m | 935,012 | +5574% |
| Olema PharmaceuticalsOLMA | 0.8% | $5m | 383,281 | -36% |
| Monopar TherapeuticsMNPR | 0.7% | $4m | 47,861 | New |
| BridgeBio PharmaBBIO | 0.7% | $4m | 57,417 | -64% |
| InventivaIVA | 0.7% | $4m | 1,129,101 | -21% |
| AbsciABSI | 0.7% | $4m | 353,772 | New |
| AlectorALEC | 0.7% | $4m | 1,982,606 | -5% |
| Climb BioCLYM | 0.6% | $4m | 300,000 | New |
| Fulcrum TherapeuticsFULC | 0.6% | $4m | 1,049,161 | Held |
| Cardiol TherapeuticsCRDL | 0.6% | $4m | 3,325,000 | +22% |
| Cue BiopharmaCUE | 0.5% | $3m | 104,364 | New |
| Cumberland PharmaceuticalsCPIX | 0.5% | $3m | 503,153 | -9% |
| Arrowhead PharmaceuticalsARWR | 0.5% | $3m | 38,278 | New |
| Rein TherapeuticsRNTX | 0.5% | $3m | 2,950,000 | New |
| ArvinasARVN | 0.5% | $3m | 358,257 | Held |
| Acumen PharmaceuticalsABOS | 0.5% | $3m | 1,053,797 | Held |
| ProMIS NeurosciencesPMN | 0.4% | $3m | 205,000 | +273% |
| AnnexonANNX | 0.4% | $2m | 430,244 | -26% |
| Lexeo TherapeuticsLXEO | 0.4% | $2m | 513,011 | Held |
| Delcath SystemsDCTH | 0.4% | $2m | 185,667 | -57% |
| InvivydIVVD | 0.4% | $2m | 2,656,570 | Held |
| Cabaletta BioCABA | 0.4% | $2m | 700,000 | -22% |
| Neumora TherapeuticsNMRA | 0.4% | $2m | 1,278,408 | Held |
| Amylyx PharmaceuticalsAMLX | 0.3% | $2m | 117,500 | New |
| Tarsus PharmaceuticalsTARS | 0.3% | $2m | 31,166 | Held |
| Silence TherapeuticsSLN | 0.3% | $2m | 830,784 | -4% |
| Journey MedicalDERM | 0.3% | $2m | 251,436 | Held |
| DBV Technologies S ADBVT | 0.3% | $2m | 525,000 | Held |
| iBioIBIO | 0.3% | $2m | 957,062 | Held |
| Avalo TherapeuticsAVTX | 0.3% | $2m | 90,183 | New |
| Anteris Technologies GlobalAVR | 0.3% | $2m | 166,571 | -55% |
| Palisade BIOPALI | 0.3% | $2m | 750,000 | +173% |
| Amanat AcquisitionAMAN | 0.2% | $2m | 150,000 | New |
| Kalaris TherapeuticsKLRS | 0.2% | $1m | 360,000 | Held |
| Quince TherapeuticsQNCX | 0.2% | $1m | 72,251 | New |
| LipocineLPCN | 0.2% | $1m | 508,556 | Held |
| ImmunomeIMNM | 0.2% | $1m | 60,000 | New |
| Pliant TherapeuticsPLRX | 0.2% | $1m | 1,000,000 | New |
| ImmunicIMUX | 0.2% | $1m | 67,464 | New |
| Quoin PharmaceuticalsQNRX | 0.2% | $1m | 211,538 | Held |
| EquilliumEQ | 0.2% | $971,376 | 303,555 | Held |
| NeuroneticsSTIM | 0.1% | $911,537 | 701,182 | Held |
| Faeth TherapeuticsFTH | 0.1% | $884,650 | 35,386 | +457% |
| Fractyl HealthGUTS | 0.1% | $873,840 | 1,100,000 | Held |
| Helus PharmaHELP | 0.1% | $873,532 | 132,153 | Held |
| First Tracks BiotherapeuticsTRAX | 0.1% | $860,633 | 42,775 | New |
| VerastemVSTM | 0.1% | $816,965 | 213,865 | Held |
| Direxion Shares ETF TrustLABD | 0.1% | $815,887 | 105,822 | Held |
| PepGenPEPG | 0.1% | $804,897 | 447,165 | Held |
| Acadia PharmaceuticalsACAD | 0.1% | $710,905 | 28,099 | Held |
| CNS PharmaceuticalsCNSP | 0.1% | $649,267 | 135,830 | +196% |
| Lyell ImmunopharmaLYEL | <0.1% | $577,188 | 41,081 | Held |
| Wave Life SciencesWVE | <0.1% | $495,507 | 85,285 | Held |
| ImmaticsIMTX | <0.1% | $492,003 | 48,569 | Held |
| Passage BIOPASG | <0.1% | $485,643 | 99,517 | +46% |
| NextCureNXTC | <0.1% | $461,284 | 288,303 | +21% |
| Forte Biosciences | <0.1% | $445,655 | 20,972 | -82% |
| Solid BiosciencesSLDB | <0.1% | $429,130 | 42,956 | -84% |
| Traws PharmaTRAW | <0.1% | $403,217 | 478,142 | -29% |
| Lexicon PharmaceuticalsLXRX | <0.1% | $395,218 | 164,674 | Held |
Showing the largest 100 of 126.
Options (30)
- Spdr Series TrustXBI
- Type
- Put
- Value
- $47m
- Contracts
- 300,000
- Abivax SAABVX
- Type
- Call
- Value
- $45m
- Contracts
- 341,100
- Abivax SAABVX
- Type
- Put
- Value
- $33m
- Contracts
- 250,000
- Ionis PharmaceuticalsIONS
- Type
- Call
- Value
- $32m
- Contracts
- 400,000
- ModernaMRNA
- Type
- Put
- Value
- $28m
- Contracts
- 400,000
- Ionis PharmaceuticalsIONS
- Type
- Put
- Value
- $24m
- Contracts
- 300,000
- Newamsterdam Pharma Company
- Type
- Put
- Value
- $14m
- Contracts
- 400,000
- AlumisALMS
- Type
- Call
- Value
- $10m
- Contracts
- 356,300
- Kodiak SciencesKOD
- Type
- Call
- Value
- $8m
- Contracts
- 217,700
- Capricor TherapeuticsCAPR
- Type
- Call
- Value
- $8m
- Contracts
- 350,000
- Arrowhead PharmaceuticalsARWR
- Type
- Put
- Value
- $8m
- Contracts
- 100,000
- Praxis Precision MedicinesPRAX
- Type
- Call
- Value
- $7m
- Contracts
- 20,000
- Kymera TherapeuticsKYMR
- Type
- Put
- Value
- $6m
- Contracts
- 50,400
- Tenax TherapeuticsTENX
- Type
- Call
- Value
- $5m
- Contracts
- 373,100
- EyePointEYPT
- Type
- Call
- Value
- $5m
- Contracts
- 370,400
- EyePointEYPT
- Type
- Put
- Value
- $5m
- Contracts
- 370,400
- SELLAS Life Sciences GroupSLS
- Type
- Put
- Value
- $5m
- Contracts
- 354,700
- Sionna TherapeuticsSION
- Type
- Put
- Value
- $5m
- Contracts
- 107,500
- Celldex TherapeuticsCLDX
- Type
- Put
- Value
- $4m
- Contracts
- 114,000
- Vera TherapeuticsVERA
- Type
- Call
- Value
- $3m
- Contracts
- 71,700
- Q32 BioQTTB
- Type
- Put
- Value
- $3m
- Contracts
- 200,000
- Olema PharmaceuticalsOLMA
- Type
- Call
- Value
- $3m
- Contracts
- 200,000
- Bristol-Myers SquibbBMY
- Type
- Put
- Value
- $2m
- Contracts
- 42,500
- Uniqure NV
- Type
- Call
- Value
- $2m
- Contracts
- 49,800
- Disc MedicineIRON
- Type
- Call
- Value
- $972,762
- Contracts
- 13,300
- Disc MedicineIRON
- Type
- Put
- Value
- $972,762
- Contracts
- 13,300
- Elicio TherapeuticsELTX
- Type
- Call
- Value
- $418,761
- Contracts
- 107,100
- Elicio TherapeuticsELTX
- Type
- Put
- Value
- $418,761
- Contracts
- 107,100
- Praxis Precision MedicinesPRAX
- Type
- Put
- Value
- $301,311
- Contracts
- 900
- Tenax TherapeuticsTENX
- Type
- Put
- Value
- $240,075
- Contracts
- 16,500
| Company | Type | Value | Contracts |
|---|---|---|---|
| Spdr Series TrustXBI | Put | $47m | 300,000 |
| Abivax SAABVX | Call | $45m | 341,100 |
| Abivax SAABVX | Put | $33m | 250,000 |
| Ionis PharmaceuticalsIONS | Call | $32m | 400,000 |
| ModernaMRNA | Put | $28m | 400,000 |
| Ionis PharmaceuticalsIONS | Put | $24m | 300,000 |
| Newamsterdam Pharma Company | Put | $14m | 400,000 |
| AlumisALMS | Call | $10m | 356,300 |
| Kodiak SciencesKOD | Call | $8m | 217,700 |
| Capricor TherapeuticsCAPR | Call | $8m | 350,000 |
| Arrowhead PharmaceuticalsARWR | Put | $8m | 100,000 |
| Praxis Precision MedicinesPRAX | Call | $7m | 20,000 |
| Kymera TherapeuticsKYMR | Put | $6m | 50,400 |
| Tenax TherapeuticsTENX | Call | $5m | 373,100 |
| EyePointEYPT | Call | $5m | 370,400 |
| EyePointEYPT | Put | $5m | 370,400 |
| SELLAS Life Sciences GroupSLS | Put | $5m | 354,700 |
| Sionna TherapeuticsSION | Put | $5m | 107,500 |
| Celldex TherapeuticsCLDX | Put | $4m | 114,000 |
| Vera TherapeuticsVERA | Call | $3m | 71,700 |
| Q32 BioQTTB | Put | $3m | 200,000 |
| Olema PharmaceuticalsOLMA | Call | $3m | 200,000 |
| Bristol-Myers SquibbBMY | Put | $2m | 42,500 |
| Uniqure NV | Call | $2m | 49,800 |
| Disc MedicineIRON | Call | $972,762 | 13,300 |
| Disc MedicineIRON | Put | $972,762 | 13,300 |
| Elicio TherapeuticsELTX | Call | $418,761 | 107,100 |
| Elicio TherapeuticsELTX | Put | $418,761 | 107,100 |
| Praxis Precision MedicinesPRAX | Put | $301,311 | 900 |
| Tenax TherapeuticsTENX | Put | $240,075 | 16,500 |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 102.1% since 30 June 2025.
Where the money is
Health care89.5%
Financial services0.3%
Other10.2%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.