2026 Q2 Portfolio Activity
In 2026 Q2, Ikarian Capital, LLC maintained a portfolio of 201 distinct positions. The most significant new addition was MODERNA INC, now representing 3.02% of the total fund value. They heavily accumulated shares in ABIVAX SA, increasing the position by 491.8%. Conversely, Ikarian Capital, LLC completely exited their position in TERNS PHARMACEUTICALS INC.
Position History
hover any row below to update
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Total Positions
201
Quarter
2026 Q2
Top Holding
XBI (5.1%)
Top 10 Concentration
37.0%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 201
Ikarian Capital, LLC Full Holdings List — 2026 Q2
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
XBI
PUT
SPDR SERIES TRU...
|
PUT Option | 5.11% | 8.30% |
#1
Prev: #1
|
4.0 |
—
|
-500,000 | -62.5% |
P
S
|
300,000 | $47,475,000 |
$113.14
+29.7%
|
2019 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | ||
|
ABVX
CALL
ABIVAX SA
|
CALL Option | 4.90% | 2.65% |
#2
6
Prev: #8
|
5.5 |
—
|
47,800 | 16.3% |
P
S
|
341,100 | $45,454,986 |
$110.66
-20.5%
|
2025 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | ||
|
ABVX
ABIVAX SA
|
Healthcare | 4.67% | 0.51% |
#3
48
Prev: #51
|
5.9 |
—
|
271,000 | 470.2% |
P
S
|
328,635 | $43,352,978 |
$110.66
-20.5%
|
2025 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | ||
|
KOD
KODIAK SCIENCES...
|
Healthcare | 4.45% | 3.92% |
#4
2
Prev: #6
|
2.8 |
—
|
-206,065 | -16.3% |
P
S
|
1,059,730 | $41,287,080 | 2020 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ABVX
PUT
ABIVAX SA
|
PUT Option | 3.59% | — |
#5
Prev: #—
|
5.4 |
—
|
250,000 | — |
NEW
|
250,000 | $33,315,000 | 2025 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
IONS
CALL
IONIS PHARMACEU...
|
CALL Option | 3.42% | 0.68% |
#6
34
Prev: #40
|
4.4 |
—
|
287,900 | 256.8% |
P
S
|
400,000 | $31,716,000 | 2020 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
MRNA
PUT
MODERNA INC
|
PUT Option | 3.02% | — |
#7
Prev: #—
|
4.7 |
—
|
400,000 | — |
NEW
|
400,000 | $28,012,000 | 2020 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ALMS
ALUMIS INC
|
Healthcare | 2.64% | 2.17% |
#8
3
Prev: #11
|
1.1 |
—
|
-343,000 | -28.3% |
P
S
|
870,548 | $24,497,220 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
PRAX
PRAXIS PRECISIO...
|
Healthcare | 2.63% | 1.87% |
#9
4
Prev: #13
|
1.6 |
—
|
1,261 | 1.8% |
P
S
|
72,842 | $24,386,773 | 2023 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
IONS
PUT
IONIS PHARMACEU...
|
PUT Option | 2.56% | — |
#10
Prev: #—
|
4.5 |
—
|
300,000 | — |
NEW
|
300,000 | $23,787,000 | 2020 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
PCVX
VAXCYTE INC
|
Healthcare | 2.43% | 2.02% |
#11
1
Prev: #12
|
1.5 |
—
|
-40,000 | -9.3% |
P
S
|
388,682 | $22,594,085 | 2020 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ANIP
ANI PHARMACEUTI...
|
Healthcare | 2.43% | 0.92% |
#12
19
Prev: #31
|
4.0 |
—
|
125,000 | 85.0% |
P
S
|
272,085 | $22,523,196 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
CLDX
CELLDEX THERAPE...
|
Healthcare | 1.92% | 1.19% |
#13
8
Prev: #21
|
1.3 |
—
|
17,253 | 3.7% |
P
S
|
478,500 | $17,804,985 | 2020 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
RCUS
ARCUS BIOSCIENC...
|
Healthcare | 1.68% | — |
#14
Prev: #—
|
4.2 |
—
|
504,559 | — |
NEW
|
504,559 | $15,555,555 | 2020 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
RLMD
RELMADA THERAPE...
|
Healthcare | 1.60% | 1.52% |
#15
Prev: #15
|
0.6 |
—
|
-540,000 | -20.1% |
P
S
|
2,148,359 | $14,866,644 | 2020 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
CAPR
CAPRICOR THERAP...
|
Healthcare | 1.57% | 1.30% |
#16
2
Prev: #18
|
2.6 |
—
|
76,200 | 14.4% |
P
S
|
604,215 | $14,549,497 | 2024 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
COGT
COGENT BIOSCIEN...
|
Healthcare | 1.54% | — |
#17
Prev: #—
|
4.1 |
—
|
370,084 | — |
NEW
|
370,084 | $14,322,251 | 2020 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
N/A
PUT
NEWAMSTERDAM PH...
|
|
PUT Option | 1.46% | — |
#18
Prev: #—
|
4.1 |
—
|
400,000 | — |
NEW
|
400,000 | $13,556,000 | — | 13F Filing | 2026-06-30 | 2026-08-14 | ||
|
VERA
VERA THERAPEUTI...
|
Healthcare | 1.43% | 0.65% |
#19
25
Prev: #44
|
3.6 |
—
|
110,000 | 55.0% |
P
S
|
310,000 | $13,302,100 | 2025 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
CTNM
CONTINEUM THERA...
|
Healthcare | 1.43% | 0.86% |
#20
13
Prev: #33
|
1.6 |
—
|
no change | no change |
P
S
|
807,874 | $13,241,056 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
TENX
TENAX THERAPEUT...
|
Healthcare | 1.23% | 1.32% |
#21
4
Prev: #17
|
0.5 |
—
|
-230,000 | -22.6% |
P
S
|
787,600 | $11,459,580 | 2025 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
CCCC
C4 THERAPEUTICS...
|
Healthcare | 1.22% | — |
#22
Prev: #—
|
4.0 |
—
|
2,433,000 | — |
NEW
|
2,433,000 | $11,362,110 | 2020 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
MAZE
MAZE THERAPEUTI...
|
Healthcare | 1.22% | 0.92% |
#23
7
Prev: #30
|
1.5 |
—
|
no change | no change |
P
S
|
378,999 | $11,309,331 | 2025 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
BHVN
BIOHAVEN LTD
|
Healthcare | 1.20% | 0.28% |
#24
53
Prev: #77
|
3.5 |
—
|
335,700 | 81.4% |
P
S
|
748,181 | $11,132,933 | 2019 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
N/A
CONNECT BIOPHAR...
|
|
Unknown | 1.16% | 1.07% |
#25
2
Prev: #23
|
1.0 |
—
|
-849,952 | -15.8% |
P
S
|
4,538,534 | $10,801,710 | — | 13F Filing | 2026-06-30 | 2026-08-14 | ||
|
ANRO
ALTO NEUROSCIEN...
|
Healthcare | 1.16% | 0.94% |
#26
1
Prev: #27
|
0.5 |
—
|
-107,662 | -20.9% |
P
S
|
407,338 | $10,749,651 | 2024 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
PHVS
PHARVARIS N V
|
Healthcare | 1.15% | 1.12% |
#27
5
Prev: #22
|
0.5 |
—
|
-178,000 | -36.6% |
P
S
|
308,856 | $10,680,241 | 2025 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ALMS
CALL
ALUMIS INC
|
CALL Option | 1.08% | 0.47% |
#28
26
Prev: #54
|
2.9 |
—
|
91,700 | 34.7% |
P
S
|
356,300 | $10,026,282 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
JBIO
JADE BIOSCIENCE...
|
Healthcare | 1.02% | 0.58% |
#29
18
Prev: #47
|
0.9 |
—
|
-85,000 | -16.6% |
P
S
|
427,349 | $9,495,694 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
GLTO
DAMORA THERAPEU...
|
Healthcare | 0.94% | 0.71% |
#30
9
Prev: #39
|
1.4 |
—
|
no change | no change |
P
S
|
335,710 | $8,731,816 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
KOD
CALL
KODIAK SCIENCES...
|
CALL Option | 0.91% | 0.31% |
#31
40
Prev: #71
|
3.4 |
—
|
117,700 | 117.7% |
P
S
|
217,700 | $8,481,592 | 2020 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
CAPR
CALL
CAPRICOR THERAP...
|
CALL Option | 0.91% | 0.86% |
#32
Prev: #32
|
1.4 |
—
|
no change | no change |
P
S
|
350,000 | $8,428,000 | 2024 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ARWR
PUT
ARROWHEAD PHARM...
|
PUT Option | 0.88% | 0.29% |
#33
43
Prev: #76
|
3.4 |
—
|
42,500 | 73.9% |
P
S
|
100,000 | $8,151,000 | 2019 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
VRDN
VIRIDIAN THERAP...
|
Healthcare | 0.84% | — |
#34
Prev: #—
|
3.8 |
—
|
425,000 | — |
NEW
|
425,000 | $7,807,251 | 2022 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
PTHS
PELTHOS THERAPE...
|
Healthcare | 0.78% | 0.44% |
#35
22
Prev: #57
|
1.3 |
—
|
no change | no change |
P
S
|
256,598 | $7,251,459 | 2025 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ZURA
ZURA BIO LTD
|
Healthcare | 0.77% | 0.58% |
#36
13
Prev: #49
|
0.8 |
—
|
25,000 | 2.1% |
P
S
|
1,218,492 | $7,189,102 | 2025 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
TECX
TECTONIC THERAP...
|
Healthcare | 0.76% | 0.40% |
#37
24
Prev: #61
|
2.8 |
—
|
48,300 | 30.7% |
P
S
|
205,837 | $7,075,647 | 2024 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
PRAX
CALL
PRAXIS PRECISIO...
|
CALL Option | 0.72% | — |
#38
Prev: #—
|
3.8 |
—
|
20,000 | — |
NEW
|
20,000 | $6,695,800 | 2023 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
SPRB
SPRUCE BIOSCIEN...
|
Healthcare | 0.71% | 0.64% |
#39
6
Prev: #45
|
1.3 |
—
|
no change | no change |
P
S
|
121,356 | $6,553,224 | 2024 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
HIMS
HIMS & HERS HEA...
|
Healthcare | 0.70% | — |
#40
Prev: #—
|
3.8 |
—
|
188,381 | — |
NEW
|
188,381 | $6,531,170 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ELVN
ENLIVEN THERAPE...
|
Healthcare | 0.69% | — |
#41
Prev: #—
|
3.8 |
—
|
126,541 | — |
NEW
|
126,541 | $6,421,957 | 2024 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
PRQR
PROQR THRAPEUTI...
|
Healthcare | 0.69% | 0.20% |
#42
49
Prev: #91
|
3.3 |
—
|
1,933,701 | 129.6% |
P
S
|
3,425,930 | $6,372,230 | 2022 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
DRUG
BRIGHT MINDS BI...
|
Healthcare | 0.67% | 0.99% |
#43
19
Prev: #24
|
0.3 |
—
|
-77,696 | -46.6% |
P
S
|
88,951 | $6,244,361 | 2024 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
OVID
OVID THERAPEUTI...
|
Healthcare | 0.66% | 0.52% |
#44
6
Prev: #50
|
0.3 |
—
|
-625,000 | -21.6% |
P
S
|
2,269,704 | $6,105,503 | 2019 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
OCGN
OCUGEN INC
|
Healthcare | 0.65% | 0.58% |
#45
3
Prev: #48
|
1.3 |
—
|
no change | no change |
P
S
|
3,962,972 | $6,063,348 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ACOG
ALPHA COGNITION...
|
Healthcare | 0.65% | 0.47% |
#46
10
Prev: #56
|
0.3 |
—
|
-220,000 | -20.8% |
P
S
|
836,259 | $6,037,790 | 2024 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
KYMR
PUT
KYMERA THERAPEU...
|
PUT Option | 0.62% | 0.34% |
#47
19
Prev: #66
|
1.2 |
—
|
no change | no change |
P
S
|
50,400 | $5,779,368 | 2022 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
HROW
HARROW INC
|
Healthcare | 0.62% | 1.55% |
#48
34
Prev: #14
|
0.2 |
—
|
-407,272 | -75.0% |
P
S
|
135,775 | $5,766,364 | 2020 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
KZIA
KAZIA THERAPEUT...
|
Healthcare | 0.60% | — |
#49
Prev: #—
|
3.7 |
—
|
396,201 | — |
NEW
|
396,201 | $5,578,510 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
RARE
ULTRAGENYX PHAR...
|
Healthcare | 0.60% | 0.82% |
#50
16
Prev: #34
|
0.2 |
—
|
-316,954 | -65.7% |
P
S
|
165,617 | $5,529,952 | 2019 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 |
Showing 1-50 of 201 holdings