Ikarian Capital, LLC Top Holdings and 13F Report (2025) About Ikarian Capital, LLCInvestment ActivityIkarian Capital, LLC has $520.63 million in total holdings as of June 30, 2025.Ikarian Capital, LLC owns shares of 114 different stocks, but just 30 companies or ETFs make up 80% of its holdings.Approximately 46.91% of the portfolio was purchased this quarter.About 106.80% of the portfolio was sold this quarter.This quarter, Ikarian Capital, LLC has purchased 141 new stocks and bought additional shares in 20 stocks.Ikarian Capital, LLC sold shares of 32 stocks and completely divested from 52 stocks this quarter.Largest Holdings CIDARA THERAPEUTICS INC $62,694,056Soleno Therapeutics $33,512,000Ultragenyx Pharmaceutical $31,382,316PRAXIS PRECISION MEDICINES I $21,838,667Capricor Therapeutics $20,457,786 Largest New Holdings this Quarter N90064901 - UNIQURE NV $11,152,000 Holding19240Q201 - Cogent Biosciences $9,320,558 Holding483497103 - KalVista Pharmaceuticals $6,766,361 HoldingG50871105 - Jazz Pharmaceuticals $4,244,799 HoldingG1110E907 - BIOHAVEN LTD $4,233,000 Holding Largest Purchases this Quarter CIDARA THERAPEUTICS INC 1,038,148 shares (about $50.57M)Capricor Therapeutics 1,660,200 shares (about $16.49M)Ultragenyx Pharmaceutical 433,011 shares (about $15.74M)PRAXIS PRECISION MEDICINES I 373,848 shares (about $15.72M)UNIQURE NV 800,000 shares (about $11.15M) Largest Sales this Quarter Tarsus Pharmaceuticals 288,485 shares (about $11.69M)Kymera Therapeutics 266,800 shares (about $11.64M)Scholar Rock 195,000 shares (about $6.91M)Crinetics Pharmaceuticals 90,000 shares (about $2.59M)uniQure 180,014 shares (about $2.51M) Sector Allocation Over TimeMap of 500 Largest Holdings ofIkarian Capital, LLC Selling Neutral Buying Latest 13F Holdings and Changes Since Previous Quarterly FilingIssuer NameHoldings ValueApproximate Purchase/SaleChange in SharesShares Held% of PortfolioSectorCIDARA THERAPEUTICS INC$62,694,056$50,568,189 ▲417.0%1,287,08812.0%COM NEWSLNOSoleno Therapeutics$33,512,000$4,775,460 ▲16.6%400,0006.4%MedicalRAREUltragenyx Pharmaceutical$31,382,316$15,744,280 ▲100.7%863,1006.0%MedicalPRAXIS PRECISION MEDICINES I$21,838,667$15,720,308 ▲256.9%519,3504.2%COM NEWCAPRCapricor Therapeutics$20,457,786$16,485,786 ▲415.1%2,060,2003.9%MedicalALNYAlnylam Pharmaceuticals$18,454,737$8,152,250 ▲79.1%56,5943.5%MedicalINSMInsmed$16,479,900$7,945,628 ▲93.1%163,7513.2%MedicalAKROAkero Therapeutics$14,108,383$1,035,184 ▲7.9%264,4002.7%MedicalVRNAVerona Pharma PLC American Depositary Share$13,887,276$1,591,876 ▲12.9%146,8312.7%MedicalAPOGEE THERAPEUTICS INC$13,877,927$10,807,426 ▲352.0%319,5472.7%COMMLTXMoonLake Immunotherapeutics$13,640,800$4,720,000 ▲52.9%289,0002.6%MedicalSRPTSarepta Therapeutics$13,358,298$10,466,910 ▲362.0%781,1872.6%MedicalCYTKCytokinetics$12,669,651$7,714,246 ▲155.7%383,4642.4%MedicalCRNXCrinetics Pharmaceuticals$12,465,476$2,588,400 ▼-17.2%433,4312.4%MedicalVKTXViking Therapeutics$11,925,001$6,625,001 ▲125.0%450,0002.3%MedicalUNIQURE NV$11,152,000$11,152,000 ▲New Holding800,0002.1%CALLPCVXVaxcyte$10,139,868$3,637,869 ▲56.0%311,9001.9%MedicalCOGTCogent Biosciences$9,320,558$9,320,558 ▲New Holding1,298,1281.8%MedicalALPHA COGNITION INC$8,563,699$466,500 ▼-5.2%917,8671.6%COM NEWTARSTarsus Pharmaceuticals$7,961,673$11,686,527 ▼-59.5%196,5361.5%MedicalTGTXTG Therapeutics$7,555,669$4,571 ▼-0.1%209,9381.5%MedicalKALVKalVista Pharmaceuticals$6,766,361$6,766,361 ▲New Holding598,5281.3%MedicalFULCFulcrum Therapeutics$6,622,145$5,245,484 ▲381.0%962,5211.3%MedicalVRDNViridian Therapeutics$6,569,886$349,500 ▼-5.1%469,9491.3%MedicalARVNArvinas$6,256,000$4,563,936 ▲269.7%850,0001.2%MedicalFORTE BIOSCIENCES INC$6,160,407$1,716,871 ▼-21.8%476,4431.2%COM NEWVIRVir Biotechnology$5,383,0320.0%1,068,0621.0%MedicalSRRKScholar Rock$5,283,920$6,906,900 ▼-56.7%149,1791.0%MedicalCPRXCatalyst Pharmaceuticals$4,549,384$868,000 ▼-16.0%209,6490.9%MedicalDCTHDelcath Systems$4,384,503$3,019,539 ▲221.2%322,3900.8%MedicalJAZZJazz Pharmaceuticals$4,244,799$4,244,799 ▲New Holding40,0000.8%MedicalBIOHAVEN LTD$4,233,000$4,233,000 ▲New Holding300,0000.8%CALLCG ONCOLOGY INC$4,030,000$4,030,000 ▲New Holding155,0000.8%COMVERAVera Therapeutics$3,941,494$3,941,494 ▲New Holding167,2960.8%MedicalSTIMNeuronetics$3,837,953$1,047 ▼0.0%1,099,7000.7%MedicalGPCRStructure Therapeutics$3,797,183$1,679,940 ▼-30.7%183,0850.7%MedicalNAMSNewAmsterdam Pharma$3,745,148$3,745,148 ▲New Holding206,8000.7%MedicalDYNE THERAPEUTICS INC$3,463,728$1,732,640 ▼-33.3%363,8370.7%COMTEVATeva Pharmaceutical Industries$3,352,0000.0%200,0000.6%MedicalTECTONIC THERAPEUTIC INC$3,252,639$2,094,178 ▼-39.2%163,6960.6%COMMAZE THERAPEUTICS INC$3,223,819$736,200 ▼-18.6%262,7400.6%COMALTAltimmune$3,202,425$2,273,625 ▲244.8%827,5000.6%MedicalJANXJanux Therapeutics$2,995,8630.0%129,6910.6%MedicalELDNEledon Pharmaceuticals$2,710,599$67,750 ▼-2.4%1,000,2210.5%MedicalBIIBBiogen$2,702,195$2,702,195 ▲New Holding21,5160.5%MedicalCNTACentessa Pharmaceuticals$2,628,000$2,628,000 ▲New Holding200,0000.5%MedicalRLAYRelay Therapeutics$2,571,8460.0%743,3080.5%MedicalARCTArcturus Therapeutics$2,276,750$1,951,500 ▼-46.2%175,0000.4%MedicalGERNGeron$2,256,000$2,044,500 ▲966.7%1,600,0000.4%MedicalKODKodiak Sciences$2,236,261$186,500 ▼-7.7%599,5340.4%MedicalLEXEO THERAPEUTICS INC$2,211,1170.0%550,0290.4%COMMETSERA INC$2,199,640$2,067,860 ▼-48.5%77,3160.4%COMVTYXVentyx Biosciences$2,070,643$535,000 ▼-20.5%967,5900.4%MedicalCPIXCumberland Pharmaceuticals$1,996,372$482,628 ▼-19.5%595,9320.4%MedicalPRQRProQR Therapeutics$1,770,860$1,770,860 ▲New Holding868,0690.3%MedicalBRIGHT MINDS BIOSCIENCES INC$1,708,4030.0%65,4310.3%COM NEWQUREuniQure$1,672,605$2,509,395 ▼-60.0%119,9860.3%MedicalSLNSilence Therapeutics$1,397,709$1,397,709 ▲New Holding873,5680.3%MedicalRCUSArcus Biosciences$1,329,7750.0%163,3630.3%MedicalAPLSApellis Pharmaceuticals$1,298,2500.0%75,0000.2%MedicalALECAlector$1,260,000$70,000 ▼-5.3%900,0000.2%MedicalNUVBNuvation Bio$1,207,5530.0%619,2580.2%MedicalVTGNVistaGen Therapeutics$1,203,4060.0%601,7030.2%MedicalCYBIN INC$1,178,585$2,153,713 ▼-64.6%140,4750.2%COM NEWTOURMALINE BIO INC$1,086,1520.0%67,9270.2%COMWVEWAVE Life Sciences$1,047,392$1,047,392 ▲New Holding161,1370.2%MedicalVERUVeru$829,2040.0%1,425,2390.2%MedicalORUKA THERAPEUTICS INC$768,715$1,193,036 ▼-60.8%68,5740.1%COMIBBiShares Biotechnology ETF$728,065$728,065 ▲New Holding5,7550.1%FinanceSGMOSangamo Therapeutics$682,134$324,780 ▼-32.3%1,260,1790.1%MedicalIMUXImmunic$637,633$443,470 ▼-41.0%914,1700.1%MedicalPRTAProthena$607,0000.0%100,0000.1%MedicalINHIBRX BIOSCIENCES INC$601,0810.0%42,1220.1%COMIFRXInflaRx$556,958$556,958 ▲New Holding705,0100.1%MedicalKEZAR LIFE SCIENCES INC$489,6070.0%106,9010.1%COM NEWVYNEVYNE Therapeutics$478,501$478,501 ▲New Holding290,0000.1%MedicalIBIO INC$457,7940.0%599,9130.1%COM NEWKYMRKymera Therapeutics$436,400$11,643,152 ▼-96.4%10,0000.1%MedicalMNMDMind Medicine (MindMed)$406,8640.0%62,6910.1%MedicalBIOMX INC$401,8390.0%892,9760.1%COM NEWLYELL IMMUNOPHARMA INC$387,183$387,183 ▲New Holding43,7990.1%COM NEWNYXHNyxoah$378,691$378,691 ▲New Holding50,6270.1%MedicalANABAnaptysBio$347,696$347,696 ▲New Holding15,6620.1%MedicalZYMEZymeworks$313,751$313,751 ▲New Holding25,0000.1%MedicalABOSAcumen Pharmaceuticals$308,2920.0%265,7690.1%MedicalIMTXImmatics$265,750$265,750 ▲New Holding49,3960.1%MedicalVIGLVigil Neuroscience$249,311$1,738,181 ▼-87.5%31,3600.0%MedicalCMMBChemomab Therapeutics$247,1410.0%213,0520.0%MedicalALTO NEUROSCIENCE INC$242,001$143,001 ▼-37.1%110,0000.0%COM SHSCARTESIAN THERAPEUTICS INC$230,3040.0%22,1660.0%COM NEWANEBAnebulo Pharmaceuticals$227,1170.0%157,7200.0%MedicalTERNTerns Pharmaceuticals$218,172$932,502 ▼-81.0%58,4910.0%MedicalEVAXION AS$196,0000.0%80,0000.0%SPONSORED ADSSENSEI BIOTHERAPEUTICS INC$193,025$193,025 ▲New Holding22,4970.0%COM NEWLYRA THERAPEUTICS INC$189,603$189,603 ▲New Holding21,1610.0%COM NEWAETHLON MED INC$184,391$184,391 ▲New Holding153,6590.0%COM NEWAVALO THERAPEUTICS INC$176,147$821,853 ▼-82.4%35,3000.0%COM NEWVYGRVoyager Therapeutics$173,4330.0%55,7660.0%MedicalLXRXLexicon Pharmaceuticals$166,897$1,174,067 ▼-87.6%176,4790.0%MedicalPEPGPepGen$166,5000.0%150,0000.0%MedicalShowing largest 100 holdings. 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