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Ghost Tree Capital, LLC

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13F filer, CIK 1595851, NEW YORK, NY

Ghost Tree Capital, LLC reported $234,221,000 across 35 holdings for the quarter ended 2022-12-31, in a 13F-HR filed 2023-02-14. Its ten largest share positions make up 57.93% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001420506-23-000502

Period
2022-12-31
Reported value
$234M
Holdings
35
Top 10 weight
57.93%
New
9
Sold out
18

Largest buys vs the previous quarter

SecurityShares changeApprox. value
QQQnew+50,000$13.3M
SEAGEN INCnew+85,000$10.9M
IOVAnew+1,300,000$8.31M
AKROnew+85,000$4.66M
ASNDadded+35,000$4.27M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
RLMDexited-425,000-$15.7M
VRDNreduced-370,000-$10.8M
PCVXreduced-200,000-$9.59M
REATA PHARMACEUTICALS INCreduced-225,000-$8.55M
AMLXreduced-200,000-$7.39M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2022

Share positions as resolved from 13F-HR 0001420506-23-000502, largest first. % of portfolio is the value over $234,221,000, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
REATA PHARMACEUTICALS INCREATA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 500,000 shares 500,000$19M8.11%-225,000
AXSMAXSOME THERAPEUTICS INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 235,000 shares 235,000$18.1M7.74%-65,000Timeline
ASNDASCENDIS PHARMA A/SQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 130,000 shares 130,000$15.9M6.78%+35,000Timeline
APLSAPELLIS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 300,000 shares 300,000$15.5M6.62%+25,000Timeline
QQQINVESCO QQQ TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 50,000 shares 50,000$13.3M5.68%newTimeline
AMLXAMYLYX PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 350,000 shares 350,000$12.9M5.52%-200,000Timeline
CTI BIOPHARMA CORPCTI BIOPHARMA CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 1,850,000 shares 1,850,000$11.1M4.75%-150,000
SEAGEN INCSEAGEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 85,000 shares 85,000$10.9M4.66%new
IVERIC BIO INCIVERIC BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 450,000 shares 450,000$9.63M4.11%-13,700
COGTCOGENT BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 800,000 shares 800,000$9.25M3.95%+200,000Timeline
MIRATI THERAPEUTICS INCMIRATI THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 200,000 shares 200,000$9.06M3.87%+25,000
IOVAIOVANCE BIOTHERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 1,300,000 shares 1,300,000$8.31M3.55%newTimeline
KARUNA THERAPEUTICS INCKARUNA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 40,000 shares 40,000$7.86M3.36%+10,000
PCVXVAXCYTE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 160,000 shares 160,000$7.67M3.28%-200,000Timeline
SRPTSAREPTA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 55,000 shares 55,000$7.13M3.04%-55,000Timeline
ASTRIA THERAPEUTICS INCASTRIA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 450,000 shares 450,000$6.7M2.86%-50,000
MDGLMADRIGAL PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 20,000 shares 20,000$5.8M2.48%-5,000Timeline
REVANCE THERAPEUTICS INCREVANCE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 300,000 shares 300,000$5.54M2.36%-90,000
VRDNVIRIDIAN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 165,000 shares 165,000$4.82M2.06%-370,000Timeline
AKROAKERO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 85,000 shares 85,000$4.66M1.99%newTimeline
PROVENTION BIO INCPROVENTION BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 400,000 shares 400,000$4.23M1.81%new
AEROVATE THERAPEUTICS INCAEROVATE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 135,000 shares 135,000$3.96M1.69%-15,000
SNDXSYNDAX PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 150,000 shares 150,000$3.82M1.63%-50,000Timeline
VKTXVIKING THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 300,000 shares 300,000$2.82M1.2%newTimeline
BCRXBIOCRYST PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 225,000 shares 225,000$2.58M1.1%-300,000Timeline
RAPT THERAPEUTICS INCRAPT THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 125,000 shares 125,000$2.48M1.06%+35,000
KEZAR LIFE SCIENCES INCKEZAR LIFE SCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 339,907 shares 339,907$2.39M1.02%-185,093
RNAMAVIDITY BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 100,000 shares 100,000$2.22M0.95%newTimeline
TARSTARSUS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 80,000 shares 80,000$1.17M0.5%-40,000Timeline
WHWKWHITEHAWK THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 90,000 shares 90,000$1.16M0.49%-110,000Timeline
PROMETHEUS BIOSCIENCES INCPROMETHEUS BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 9,896 shares 9,896$1.09M0.46%new
X4 Pharmaceuticals, Inc.X4 Pharmaceuticals, Inc.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 1,000,000 shares 1,000,000$993K0.42%new
BLUEPRINT MEDICINES CORPBLUEPRINT MEDICINES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 20,000 shares 20,000$876K0.37%-45,000
DSGNDESIGN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 82,853 shares 82,853$850K0.36%-17,147Timeline
AEGLEA BIOTHERAPEUTICS INCAEGLEA BIOTHERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q1: restricted; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 800,000 shares 800,000$360K0.15%-200,000

Sold out in Q4 2022

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
XBISPDR SERIES TRUST500,000$39.7Mput
RLMDRELMADA THERAPEUTICS INC500,000$18.5Mput
RLMDRELMADA THERAPEUTICS INC425,000$15.7Mshares
DICE THERAPEUTICS INCDICE THERAPEUTICS INC700,000$14.2Mcall
AMLXAMYLYX PHARMACEUTICALS INC500,000$14.1Mput
SEAGEN INCSEAGEN INC50,000$6.84Mcall
AXSMAXSOME THERAPEUTICS INC.150,000$6.69Mcall
ALTALTIMMUNE INC435,000$5.55Mshares
TRICIDA INCTRICIDA INC500,000$5.24Mcall
FOLDAMICUS THERAPEUTIC500,000$5.22Mshares
REATA PHARMACEUTICALS INCREATA PHARMACEUTICALS INC200,000$5.03Mcall
HORIZON THERAPEUTICS PLCHORIZON THERAPEUTICS PLC75,000$4.64Mshares
INTRA-CELLULAR THERAPIES INCINTRA-CELLULAR THERAPIES INC60,000$2.79Mshares
MLTXMOONLAKE IMMUNOTHERAPEUTICS300,000$2.33Mshares
TRICIDA INCTRICIDA INC200,000$2.1Mshares
RYTMRHYTHM PHARMACEUTICALS INC65,000$1.59Mshares
IVERIC BIO INCIVERIC BIO INC61,300$1.1Mcall
BIIBBIOGEN INC3,750$1Mshares

How Q4 2022 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001420506-23-000502 base2023-02-14acceptance time not in the bulk data set