Skip to content
Disclosery

Ghost Tree Capital, LLC

Follow

13F filer, CIK 1595851, NEW YORK, NY

Ghost Tree Capital, LLC reported $338,325,000 across 58 holdings for the quarter ended 2023-03-31, in a 13F-HR filed 2023-05-15. Its ten largest share positions make up 42.61% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001420506-23-001046

Period
2023-03-31
Reported value
$338M
Holdings
58
Top 10 weight
42.61%
New
30
Sold out
7

Largest buys vs the previous quarter

SecurityShares changeApprox. value
TGTXnew+1,100,000$16.5M
PFEnew+200,000$8.16M
JNJnew+50,000$7.75M
QUREnew+375,000$7.55M
AKROadded+190,000$7.27M

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
REATA PHARMACEUTICALS INCreduced-430,000-$39.1M
QQQexited-50,000-$13.3M
SEAGEN INCexited-85,000-$10.9M
APLSreduced-135,380-$8.93M
IVERIC BIO INCreduced-275,000-$6.69M

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, Q1 2023

Share positions as resolved from 13F-HR 0001420506-23-001046, largest first. % of portfolio is the value over $264,323,000, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
TGTXTG THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: 1,100,000 shares 1,100,000$16.5M6.26%newTimeline
AMLXAMYLYX PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 350,000 shares; 2023Q1: 475,000 shares 475,000$13.9M5.27%+125,000Timeline
AXSMAXSOME THERAPEUTICS INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 235,000 shares; 2023Q1: 225,000 shares 225,000$13.9M5.25%-10,000Timeline
ASNDASCENDIS PHARMA A/SQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 130,000 shares; 2023Q1: 110,000 shares 110,000$11.8M4.46%-20,000Timeline
APLSAPELLIS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 300,000 shares; 2023Q1: 164,620 shares 164,620$10.9M4.11%-135,380Timeline
AKROAKERO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 85,000 shares; 2023Q1: 275,000 shares 275,000$10.5M3.98%+190,000Timeline
VKTXVIKING THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 300,000 shares; 2023Q1: 600,000 shares 600,000$9.99M3.78%+300,000Timeline
PCVXVAXCYTE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 160,000 shares; 2023Q1: 225,000 shares 225,000$8.43M3.19%+65,000Timeline
CTI BIOPHARMA CORPCTI BIOPHARMA CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 1,850,000 shares; 2023Q1: 2,000,000 shares 2,000,000$8.4M3.18%+150,000
SRPTSAREPTA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 55,000 shares; 2023Q1: 60,000 shares 60,000$8.27M3.13%+5,000Timeline
PFEPFIZER INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: 200,000 shares 200,000$8.16M3.09%newTimeline
REVANCE THERAPEUTICS INCREVANCE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 300,000 shares; 2023Q1: 250,000 shares 250,000$8.05M3.05%-50,000
JNJJOHNSON & JOHNSONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: 50,000 shares 50,000$7.75M2.93%newTimeline
QUREUNIQURE NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: 375,000 shares 375,000$7.55M2.86%newTimeline
MDGLMADRIGAL PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 20,000 shares; 2023Q1: 30,000 shares 30,000$7.27M2.75%+10,000Timeline
XENEXENON PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: 200,000 shares 200,000$7.16M2.71%newTimeline
SNDXSYNDAX PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 150,000 shares; 2023Q1: 325,000 shares 325,000$6.86M2.6%+175,000Timeline
REATA PHARMACEUTICALS INCREATA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 500,000 shares; 2023Q1: 70,000 shares 70,000$6.36M2.41%-430,000
IOVAIOVANCE BIOTHERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 1,300,000 shares; 2023Q1: 1,000,000 shares 1,000,000$6.11M2.31%-300,000Timeline
ASTRIA THERAPEUTICS INCASTRIA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 450,000 shares; 2023Q1: 450,000 shares 450,000$5.99M2.26%0
COGTCOGENT BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 800,000 shares; 2023Q1: 550,000 shares 550,000$5.93M2.25%-250,000Timeline
INCYINCYTE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: 75,000 shares 75,000$5.42M2.05%newTimeline
FOLDAMICUS THERAPEUTICQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: 475,000 shares 475,000$5.27M1.99%newTimeline
MIRATI THERAPEUTICS INCMIRATI THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 200,000 shares; 2023Q1: 140,000 shares 140,000$5.21M1.97%-60,000
PTGXPROTAGONIST THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: 225,000 shares 225,000$5.17M1.96%newTimeline
VRDNVIRIDIAN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 165,000 shares; 2023Q1: 175,000 shares 175,000$4.45M1.68%+10,000Timeline
IVERIC BIO INCIVERIC BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 450,000 shares; 2023Q1: 175,000 shares 175,000$4.26M1.61%-275,000
MLTXMOONLAKE IMMUNOTHERAPEUTICSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: 195,000 shares 195,000$4.17M1.58%newTimeline
AEROVATE THERAPEUTICS INCAEROVATE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 135,000 shares; 2023Q1: 200,000 shares 200,000$4.03M1.53%+65,000
BMEABIOMEA FUSION INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: 120,000 shares 120,000$3.72M1.41%newTimeline
ACRSACLARIS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: 425,000 shares 425,000$3.44M1.3%newTimeline
KARUNA THERAPEUTICS INCKARUNA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 40,000 shares; 2023Q1: 17,500 shares 17,500$3.18M1.2%-22,500
89BIO INC89BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: 200,000 shares 200,000$3.05M1.15%new
BCRXBIOCRYST PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 225,000 shares; 2023Q1: 275,000 shares 275,000$2.29M0.87%+50,000Timeline
AMBRX BIOPHARMA, INC. SPONS…AMBRX BIOPHARMA, INC. SPONSORED A…Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: 250,000 shares 250,000$2.23M0.84%new
RAIN ONCOLOGY INCRAIN ONCOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: 250,000 shares 250,000$2.19M0.83%new
IRONDISC MEDICINE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: 100,000 shares 100,000$2.12M0.8%newTimeline
RNAMAVIDITY BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 100,000 shares; 2023Q1: 125,000 shares 125,000$1.92M0.73%+25,000Timeline
PROMETHEUS BIOSCIENCES INCPROMETHEUS BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 9,896 shares; 2023Q1: 15,000 shares 15,000$1.61M0.61%+5,104
ALPINE IMMUNE SCIENCES INCALPINE IMMUNE SCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: 200,000 shares 200,000$1.54M0.58%new
RCUSARCUS BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: 75,000 shares 75,000$1.37M0.52%newTimeline
FUSION PHARMACEUTICALS INCFUSION PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: 350,000 shares 350,000$1.32M0.5%new
WHWKWHITEHAWK THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 90,000 shares; 2023Q1: 150,000 shares 150,000$1.09M0.41%+60,000Timeline
TARSTARSUS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 80,000 shares; 2023Q1: 80,000 shares 80,000$1.01M0.38%0Timeline
GERNGERON CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: 450,000 shares 450,000$977K0.37%newTimeline
X4 Pharmaceuticals, Inc.X4 Pharmaceuticals, Inc.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 1,000,000 shares; 2023Q1: 850,000 shares 850,000$740K0.28%-150,000
SPRINGWORKS THERAPEUTICS INCSPRINGWORKS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: 27,578 shares 27,578$710K0.27%new
KEZAR LIFE SCIENCES INCKEZAR LIFE SCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 339,907 shares; 2023Q1: 175,000 shares 175,000$548K0.21%-164,907
FIBROGEN INCFIBROGEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: 26,500 shares 26,500$494K0.19%new
IMMUNOGEN INCIMMUNOGEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: 124,977 shares 124,977$480K0.18%new
BBIOBRIDGEBIO PHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: 25,000 shares 25,000$415K0.16%newTimeline
VNDAVANDA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q2: restricted; 2021Q3: restricted; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: 12,500 shares 12,500$85K0.03%newTimeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
REATA PHARMACEUTICALS INCREATA PHARMACEUTICALS INC CL Acall300,000$27.3Mnew
XBISPDR SERIES TRUST S&P BIOTECHcall300,000$22.9Mnew
SRPTSAREPTA THERAPEUTICS INC COMcall125,000$17.2Mnew
APLSAPELLIS PHARMACEUTICALS INC COMcall51,900$3.42Mnew
ALTALTIMMUNE INC COM NEWcall400,000$1.69Mnew
89BIO INC89BIO INC COMcall100,000$1.52Mnew

Sold out in Q1 2023

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

SecurityShares beforeValue beforeType
QQQINVESCO QQQ TR50,000$13.3Mshares
SEAGEN INCSEAGEN INC85,000$10.9Mshares
PROVENTION BIO INCPROVENTION BIO INC400,000$4.23Mshares
RAPT THERAPEUTICS INCRAPT THERAPEUTICS INC125,000$2.48Mshares
BLUEPRINT MEDICINES CORPBLUEPRINT MEDICINES CORP20,000$876Kshares
DSGNDESIGN THERAPEUTICS INC82,853$850Kshares
AEGLEA BIOTHERAPEUTICS INCAEGLEA BIOTHERAPEUTICS INC800,000$360Kshares

How Q1 2023 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 0001420506-23-001046 base2023-05-15acceptance time not in the bulk data set