Ikarian Capital, LLC reported 107 positions worth $587.91M for the quarter ended Jun 30, 2026, up 1.5% on the prior quarter. It opened 24 new positions, added to 15, trimmed 27 and exited 15. Its largest holding is Abivax S.A. at 7.4% of the portfolio.
Reported 13F market value at each quarter end. A change mixes trading with price moves in the positions held.
Dollar value of shares bought and sold each quarter, at that quarter’s price. It counts trading only, not price changes.
How many positions were opened, added to, trimmed or closed each quarter.
Share of reported value in each sector at every quarter end.
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| ABVX Abivax S.A. | +271.0K | +470.2% | $35.75M | 7.37% |
| RCUS Arcus Biosciences, Inc. | +504.6K | – | $15.56M | 2.65% |
| COGT Cogent Biosciences, Inc. | +370.1K | – | $14.32M | 2.44% |
| CCCC C4 Therapeutics, Inc. | +2.43M | – | $11.36M | 1.93% |
| ANIP Ani Pharmaceuticals Inc | +125.0K | +85.0% | $10.35M | 3.83% |
| VRDN Viridian Therapeutics, Inc.\DE | +425.0K | – | $7.81M | 1.33% |
| HIMS Hims & Hers Health, Inc. | +188.4K | – | $6.53M | 1.11% |
| ELVN Enliven Therapeutics, Inc. | +126.5K | – | $6.42M | 1.09% |
| KZIA Kazia Therapeutics Ltd | +396.2K | – | $5.58M | 0.949% |
| QTTB Q32 Bio Inc. | +430.0K | – | $5.48M | 0.932% |
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| CYTK Cytokinetics Inc | -283.6K | -100.0% | $18.69M | Exited |
| HROW Harrow, Inc. | -407.3K | -75.0% | $17.30M | 0.981% |
| RVMD Revolution Medicines, Inc. | -163.1K | -100.0% | $15.87M | Exited |
| ORKA Oruka Therapeutics, Inc. | -242.0K | -100.0% | $11.87M | Exited |
| RARE Ultragenyx Pharmaceutical Inc. | -317.0K | -65.7% | $10.58M | 0.941% |
| ALMS Alumis Inc. | -343.0K | -28.3% | $9.65M | 4.17% |
| IONS Ionis Pharmaceuticals Inc | -127.0K | -100.0% | $9.54M | Exited |
| CMPS COMPASS Pathways plc | -660.0K | -97.8% | $9.34M | 0.036% |
| PVLA Palvella Therapeutics, Inc. | -64.6K | -100.0% | $8.06M | Exited |
| KOD Kodiak Sciences Inc. | -206.1K | -16.3% | $8.03M | 7.02% |
| Holding | Shares | Trade Value | Weight |
|---|---|---|---|
| RCUS Arcus Biosciences, Inc. | +504.6K | $15.56M | 2.65% |
| COGT Cogent Biosciences, Inc. | +370.1K | $14.32M | 2.44% |
| CCCC C4 Therapeutics, Inc. | +2.43M | $11.36M | 1.93% |
| VRDN Viridian Therapeutics, Inc.\DE | +425.0K | $7.81M | 1.33% |
| HIMS Hims & Hers Health, Inc. | +188.4K | $6.53M | 1.11% |
| ELVN Enliven Therapeutics, Inc. | +126.5K | $6.42M | 1.09% |
| KZIA Kazia Therapeutics Ltd | +396.2K | $5.58M | 0.949% |
| QTTB Q32 Bio Inc. | +430.0K | $5.48M | 0.932% |
| BIOA BioAge Labs, Inc. | +200.0K | $4.90M | 0.834% |
| MNPR Monopar Therapeutics | +47.9K | $4.43M | 0.754% |
| Holding | Shares Sold | Trade Value | Prior Weight |
|---|---|---|---|
| CYTK Cytokinetics Inc | -283.6K | $18.69M | 3.23% |
| RVMD Revolution Medicines, Inc. | -163.1K | $15.87M | 2.74% |
| ORKA Oruka Therapeutics, Inc. | -242.0K | $11.87M | 2.05% |
| IONS Ionis Pharmaceuticals Inc | -127.0K | $9.54M | 1.65% |
| PVLA Palvella Therapeutics, Inc. | -64.6K | $8.06M | 1.39% |
| LLY ELI LILLY & Co | -6,547 | $6.02M | 1.04% |
| SRZN Surrozen, Inc. | -173.1K | $5.04M | 0.87% |
| LEGN Legend Biotech Corp | -226.9K | $4.10M | 0.708% |
| KPTI Karyopharm Therapeutics Inc. | -733.4K | $4.09M | 0.705% |
| VIR Vir Biotechnology, Inc. | -293.3K | $2.63M | 0.454% |
| # | Activity | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | ABVX Abivax S.A. | Healthcare | 328.6K | $43.35M | 7.37% | +271.0K | +470.2% | Added | 0.47% |
| 2 | KOD Kodiak Sciences Inc. | Healthcare | 1.06M | $41.29M | 7.02% | -206.1K | -16.3% | Reduced | 1.69% |
| 3 | ALMS Alumis Inc. | Healthcare | 870.5K | $24.50M | 4.17% | -343.0K | -28.3% | Reduced | 0.68% |
| 4 | PRAX Praxis Precision Medicines, Inc. | Healthcare | 72.8K | $24.39M | 4.15% | +1,261 | +1.8% | Added | 0.25% |
| 5 | PCVX Vaxcyte, Inc. | Healthcare | 388.7K | $22.59M | 3.84% | -40.0K | -9.3% | Reduced | 0.27% |
| 6 | ANIP Ani Pharmaceuticals Inc | Healthcare | 272.1K | $22.52M | 3.83% | +125.0K | +85.0% | Added | 1.14% |
| 7 | CLDX Celldex Therapeutics, Inc. | Healthcare | 478.5K | $17.80M | 3.03% | +17.3K | +3.7% | Added | 0.61% |
| 8 | RCUS Arcus Biosciences, Inc. | Healthcare | 504.6K | $15.56M | 2.65% | +504.6K | – | New | 0.4% |
| 9 | RLMD Relmada Therapeutics, Inc. | Healthcare | 2.15M | $14.87M | 2.53% | -540.0K | -20.1% | Reduced | 1.91% |
| 10 | CAPR Capricor Therapeutics, Inc. | Healthcare | 604.2K | $14.55M | 2.47% | +76.2K | +14.4% | Added | 1.04% |
| 11 | COGT Cogent Biosciences, Inc. | Healthcare | 370.1K | $14.32M | 2.44% | +370.1K | – | New | 0.22% |
| 12 | VERA Vera Therapeutics, Inc. | Healthcare | 310.0K | $13.30M | 2.26% | +110.0K | +55.0% | Added | 0.43% |
| 13 | CTNM Contineum Therapeutics, Inc. | Healthcare | 807.9K | $13.24M | 2.25% | 0 | 0.0% | Unchanged | 2.45% |
| 14 | TENX Tenax Therapeutics, Inc. | Healthcare | 787.6K | $11.46M | 1.95% | -230.0K | -22.6% | Reduced | 1.55% |
| 15 | CCCC C4 Therapeutics, Inc. | Healthcare | 2.43M | $11.36M | 1.93% | +2.43M | – | New | 1.86% |
Tip. Select a row to see that position’s full history at Ikarian Capital.
As of its Q2 2026 13F filing, Ikarian Capital, LLC’s five largest positions were Abivax S.A. (ABVX) at 7.4%, Kodiak Sciences Inc. (KOD) at 7.0%, Alumis Inc. (ALMS) at 4.2%, Praxis Precision Medicines, Inc. (PRAX) at 4.1%, Vaxcyte, Inc. (PCVX) at 3.8% of the reported portfolio.
Ikarian Capital, LLC reported a 13F portfolio worth $587.91M across 107 positions for Q2 2026. That is up 1.5% from the previous quarter.
Its largest purchases by value were Abivax S.A. ($35.75M), Arcus Biosciences, Inc. ($15.56M), Cogent Biosciences, Inc. ($14.32M). It opened 24 new positions.
Its largest sales by value were Cytokinetics Inc ($18.69M), Harrow, Inc. ($17.30M), Revolution Medicines, Inc. ($15.87M). It exited 15 positions entirely.
From the Form 13F-HR reports Ikarian Capital, LLC files with the SEC each quarter, within 45 days of quarter end. A 13F lists long positions in US-listed equities and options; it excludes short positions, cash, bonds and most non-US holdings.
13F data reflects long positions in US-listed equities and options as reported to the SEC up to 45 days after quarter end. It excludes short positions, cash, bonds and most non-US securities, so it is not a complete picture of a manager’s assets.