Ikarian Capital, Llc Portfolio Stock Holdings
Ikarian Capital, Llc disclosed 127 stock positions valued at approximately $699.0 million in its latest SEC 13F filing. The largest holdings include TERNS PHARMACEUTICALS INC, KODIAK SCIENCES INC, and ALUMIS INC. The filing reflects positions held as of March 31, 2026 and was filed on May 15, 2026.
- Report Period
- March 31, 2026
- No. of Stocks
- 127
- Portfolio Value
- $699.0M
Holdings by Sector
Ikarian Capital, Llc Portfolio Holdings in Q1 2026
74 holdings in the latest reporting period.
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| Company | Symbol | Sector | Portfolio % | Shares | Change (Shares) | Change % | Value |
|---|---|---|---|---|---|---|---|
| TERNS PHARMACEUTICALS INC | TERN | Healthcare | 10.98% | 1,456,378 | -140,000 | -8.77% | $76,780,248 |
| KODIAK SCIENCES INC | KOD | Healthcare | 6.90% | 1,265,795 | +546,008 | +75.86% | $48,252,106 |
| ALUMIS INC | ALMS | Healthcare | 3.82% | 1,213,548 | +1,213,548 | +100.00% | $26,734,462 |
| VAXCYTE INC | PCVX | Healthcare | 3.56% | 428,682 | +50,000 | +13.20% | $24,910,711 |
| PRAXIS PRECISION MEDICINES I | PRAX | Healthcare | 3.30% | 71,581 | -15,000 | -17.32% | $23,062,682 |
| HARROW INC | HROW | Healthcare | 2.74% | 543,047 | +359,700 | +196.19% | $19,147,837 |
| RELMADA THERAPEUTICS INC | RLMD | Healthcare | 2.68% | 2,688,359 | -380,000 | -12.38% | $18,710,978 |
| CYTOKINETICS INC | CYTK | Healthcare | 2.67% | 283,572 | +110,900 | +64.23% | $18,690,231 |
| TENAX THERAPEUTICS INC | TENX | Healthcare | 2.33% | 1,017,600 | +50,000 | +5.17% | $16,271,424 |
| CAPRICOR THERAPEUTICS INC | CAPR | Healthcare | 2.30% | 528,015 | -50,000 | -8.65% | $16,051,656 |
| REVOLUTION MEDICINES INC | RVMD | Healthcare | 2.27% | 163,142 | +25,000 | +18.10% | $15,865,561 |
| CELLDEX THERAPEUTICS INC NEW | CLDX | Healthcare | 2.09% | 461,247 | +461,247 | +100.00% | $14,630,755 |
| PHARVARIS N V | PHVS | Other | 1.97% | 486,856 | - | - | $13,753,683 |
| BRIDGEBIO PHARMA INC | BBIO | Healthcare | 1.70% | 160,120 | +160,120 | +100.00% | $11,890,511 |
| ALTO NEUROSCIENCE INC | ANRO | Healthcare | 1.66% | 515,000 | - | - | $11,577,200 |
| SOLENO THERAPEUTICS INC | SLNO | Healthcare | 1.65% | 344,123 | +275,300 | +400.01% | $11,521,238 |
| ANI PHARMACEUTICALS INC | ANIP | Healthcare | 1.62% | 147,085 | +147,085 | +100.00% | $11,310,837 |
| CONTINEUM THERAPEUTICS INC | CTNM | Healthcare | 1.51% | 807,874 | +525,000 | +185.59% | $10,550,835 |
| ULTRAGENYX PHARMACEUTICAL IN | RARE | Healthcare | 1.45% | 482,571 | +469,900 | +3708.47% | $10,109,863 |
| IONIS PHARMACEUTICALS INC | IONS | Healthcare | 1.36% | 127,038 | -75,000 | -37.12% | $9,539,284 |
| OLEMA PHARMACEUTICALS INC | OLMA | Healthcare | 1.28% | 598,281 | -160,373 | -21.14% | $8,920,370 |
| FULCRUM THERAPEUTICS INC | FULC | Healthcare | 1.15% | 1,049,161 | -326,311 | -23.72% | $8,047,065 |
| VERA THERAPEUTICS INC | VERA | Healthcare | 1.15% | 200,000 | +200,000 | +100.00% | $8,045,999 |
| OCUGEN INC | OCGN | Healthcare | 1.03% | 3,962,972 | +3,962,972 | +100.00% | $7,172,979 |
| OVID THERAPEUTICS INC | OVID | Healthcare | 0.92% | 2,894,704 | +2,647,146 | +1069.30% | $6,426,242 |
| ABIVAX SA | ABVX | Healthcare | 0.89% | 57,635 | -148,350 | -72.02% | $6,232,692 |
| ELI LILLY & CO | LLY | Healthcare | 0.86% | 6,547 | -7,268 | -52.61% | $6,021,734 |
| SURROZEN INC | SRZN | Healthcare | 0.72% | 173,107 | +107,319 | +163.13% | $5,042,607 |
| TECTONIC THERAPEUTIC INC | TECX | Healthcare | 0.70% | 157,537 | +157,537 | +100.00% | $4,869,469 |
| ALECTOR INC | ALEC | Healthcare | 0.64% | 2,082,606 | - | - | $4,477,603 |
| LEGEND BIOTECH CORP | LEGN | Healthcare | 0.59% | 226,888 | - | - | $4,104,404 |
| LIPOCINE INC NEW | LPCN | Healthcare | 0.58% | 508,556 | +309,014 | +154.86% | $4,063,362 |
| DELCATH SYS INC | DCTH | Healthcare | 0.57% | 431,251 | - | - | $4,002,009 |
| ARVINAS INC | ARVN | Healthcare | 0.54% | 358,257 | - | - | $3,797,524 |
| COMPASS PATHWAYS PLC | CMPS | Healthcare | 0.53% | 675,000 | +275,000 | +68.75% | $3,732,750 |
| CARDIOL THERAPEUTICS INC | CRDL | Healthcare | 0.53% | 2,725,000 | +2,725,000 | +100.00% | $3,678,750 |
| INVIVYD INC | IVVD | Healthcare | 0.49% | 2,656,570 | - | - | $3,453,542 |
| ANNEXON INC | ANNX | Healthcare | 0.46% | 580,244 | +350,000 | +152.01% | $3,214,551 |
| LEXEO THERAPEUTICS INC | LXEO | Healthcare | 0.42% | 513,011 | - | - | $2,944,683 |
| VIR BIOTECHNOLOGY INC | VIR | Healthcare | 0.38% | 293,258 | -282,454 | -49.06% | $2,627,591 |
| NEUMORA THERAPEUTICS INC. | NMRA | Healthcare | 0.36% | 1,278,408 | - | - | $2,492,896 |
| ACUMEN PHARMACEUTICALS INC | ABOS | Healthcare | 0.36% | 1,053,797 | +799,485 | +314.37% | $2,486,960 |
| CABALETTA BIO INC | CABA | Healthcare | 0.35% | 900,000 | - | - | $2,421,000 |
| NUVALENT INC | NUVL | Healthcare | 0.35% | 23,594 | -36,000 | -60.41% | $2,417,206 |
| TARSUS PHARMACEUTICALS INC | TARS | Healthcare | 0.31% | 31,166 | - | - | $2,186,295 |
| SOLID BIOSCIENCES INC | SLDB | Healthcare | 0.27% | 264,409 | +104,000 | +64.83% | $1,903,744 |
| IBIO INC | IBIO | Healthcare | 0.26% | 957,062 | - | - | $1,818,418 |
| CUMBERLAND PHARMACEUTICALS I | CPIX | Healthcare | 0.26% | 553,153 | -2,779 | -0.50% | $1,797,748 |
| SILENCE THERAPEUTICS PLC | SLN | Healthcare | 0.25% | 865,784 | - | - | $1,731,568 |
| JOURNEY MED CORP | DERM | Healthcare | 0.17% | 251,436 | - | - | $1,179,235 |
| VERASTEM INC | VSTM | Healthcare | 0.16% | 213,865 | - | - | $1,133,484 |
| NEURONETICS INC | STIM | Healthcare | 0.15% | 701,182 | - | - | $1,016,714 |
| PEPGEN INC | PEPG | Healthcare | 0.11% | 447,165 | - | - | $791,482 |
| IMMUNIC INC | IMUX | Healthcare | 0.11% | 674,662 | - | - | $748,876 |
| CENTESSA PHARMACEUTICALS PLC | CNTA | Healthcare | 0.10% | 18,113 | +18,113 | +100.00% | $719,448 |
| KALVISTA PHARMACEUTICALS INC | KALV | Healthcare | 0.10% | 35,119 | - | - | $706,946 |
| INSMED INC | INSM | Healthcare | 0.10% | 4,214 | -5,123 | -54.87% | $689,074 |
| ACADIA PHARMACEUTICALS INC | ACAD | Healthcare | 0.09% | 28,099 | +28,099 | +100.00% | $625,484 |
| EQUILLIUM INC | EQ | Healthcare | 0.09% | 303,555 | - | - | $607,110 |
| FRACTYL HEALTH INC | GUTS | Healthcare | 0.07% | 1,100,000 | - | - | $503,580 |
| VIKING THERAPEUTICS INC | VKTX | Healthcare | 0.05% | 9,717 | - | - | $316,191 |
| SANGAMO THERAPEUTICS INC | SGMO | Healthcare | 0.04% | 1,218,671 | - | - | $300,890 |
| VISTAGEN THERAPEUTICS INC | VTGN | Healthcare | 0.04% | 519,077 | - | - | $296,654 |
| LEXICON PHARMACEUTICALS INC | LXRX | Healthcare | 0.04% | 164,674 | - | - | $256,892 |
| MACROGENICS INC | MGNX | Healthcare | 0.03% | 74,893 | - | - | $216,441 |
| VOYAGER THERAPEUTICS INC | VYGR | Healthcare | 0.03% | 53,063 | - | - | $204,823 |
| VYNE THERAPEUTICS INC | VYNE | Healthcare | 0.02% | 264,912 | - | - | $158,284 |
| CARTESIAN THERAPEUTICS INC | RNAC | Healthcare | 0.02% | 20,807 | - | - | $127,963 |
| PMV PHARMACEUTICALS INC | PMVP | Healthcare | 0.02% | 89,136 | - | - | $110,529 |
| COMPASS THERAPEUTICS INC | CMPX | Healthcare | 0.01% | 18,000 | -782,000 | -97.75% | $95,220 |
| IO BIOTECH INC | IOBT | Healthcare | 0.01% | 1,386,565 | - | - | $81,391 |
| REZOLUTE INC | RZLT | Healthcare | 0.01% | 16,479 | - | - | $50,261 |
| AIRSCULPT TECHNOLOGIES INC | AIRS | Healthcare | 0.01% | 16,398 | - | - | $46,405 |
| JASPER THERAPEUTICS INC | JSPR | Healthcare | 0.00% | 24,093 | - | - | $21,110 |
Ikarian Capital, Llc Options Holdings in Q1 2026
28 options positions in the latest reporting period.
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| Quarter | Symbol | Company | Option | Contracts | Notional Value |
|---|---|---|---|---|---|
| Q1 2026 | XBI | SPDR Series Trust SPDR S&P Bio | PUT | 800,000 | $102,184,000 |
| Q1 2026 | TERN | Terns Pharmaceuticals, Inc. | PUT | 1,200,000 | $63,264,000 |
| Q1 2026 | QQQ | Invesco QQQ Trust, Series 1 | PUT | 100,000 | $57,718,000 |
| Q1 2026 | IWM | iShares Russell 2000 ETF | PUT | 200,000 | $49,600,000 |
| Q1 2026 | CYTK | Cytokinetics, Incorporated | PUT | 550,500 | $36,283,455 |
| Q1 2026 | ABVX | Abivax SA | CALL | 293,300 | $32,658,955 |
| Q1 2026 | BMY | Bristol-Myers Squibb Company | PUT | 500,000 | $30,325,000 |
| Q1 2026 | CYTK | Cytokinetics, Incorporated | CALL | 408,400 | $26,917,644 |
| Q1 2026 | NVO | Novo Nordisk A/S | CALL | 400,000 | $14,700,000 |
| Q1 2026 | ANIP | ANI Pharmaceuticals, Inc. | CALL | 150,000 | $11,535,000 |
| Q1 2026 | CAPR | Capricor Therapeutics, Inc. | CALL | 350,000 | $10,640,000 |
| Q1 2026 | RVMD | Revolution Medicines, Inc. | PUT | 95,000 | $9,238,750 |
| Q1 2026 | IONS | Ionis Pharmaceuticals, Inc. | CALL | 112,100 | $8,417,589 |
| Q1 2026 | OLMA | Olema Pharmaceuticals, Inc. | CALL | 549,800 | $8,197,518 |
| Q1 2026 | AVTX | Avalo Therapeutics, Inc. | CALL | 401,500 | $5,994,395 |
| Q1 2026 | ALMS | Alumis Inc. | CALL | 264,600 | $5,829,138 |
| Q1 2026 | EYPT | EyePoint Pharmaceuticals, Inc. | CALL | 370,400 | $4,774,456 |
| Q1 2026 | BBIO | BridgeBio Pharma, Inc. | CALL | 58,500 | $4,344,210 |
| Q1 2026 | KYMR | Kymera Therapeutics, Inc. | PUT | 50,400 | $4,197,816 |
| Q1 2026 | KOD | Kodiak Sciences Inc | CALL | 100,000 | $3,812,000 |
| Q1 2026 | CLDX | Celldex Therapeutics, Inc. | PUT | 114,000 | $3,616,080 |
| Q1 2026 | ARWR | Arrowhead Pharmaceuticals, Inc. | PUT | 57,500 | $3,605,250 |
| Q1 2026 | ELVN | Enliven Therapeutics, Inc. | PUT | 83,700 | $3,281,040 |
| Q1 2026 | VERA | Vera Therapeutics, Inc. | CALL | 71,700 | $2,884,491 |
| Q1 2026 | AVTX | Avalo Therapeutics, Inc. | PUT | 158,500 | $2,366,405 |
| Q1 2026 | REPL | Replimune Group, Inc. | PUT | 300,000 | $2,295,000 |
| Q1 2026 | TENX | Tenax Therapeutics, Inc. | CALL | 114,300 | $1,827,657 |
| Q1 2026 | PEPG | PepGen Inc. | CALL | 300,000 | $531,000 |
Notional value represents the total exposure of the options position.