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Ghost Tree Capital, LLC

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13F filer, CIK 1595851, NEW YORK, NY

Ghost Tree Capital, LLC reported $305,864,042 across 52 holdings for the quarter ended 2023-12-31, in a 13F-HR filed 2024-02-14. Its ten largest share positions make up 45.29% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001420506-24-000335

Period
2023-12-31
Reported value
$306M
Holdings
52
Top 10 weight
45.29%
New
19
Sold out
36

Largest buys vs the previous quarter

SecurityShares changeApprox. value
BHVNnew+275,000$11.8M
AMBRX BIOPHARMA INCnew+475,000$6.76M
ROIVadded+536,000$6.02M
SRPTadded+60,000$5.79M
ALNYnew+27,500$5.26M

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
MLTXreduced-250,000-$15.1M
TGTXreduced-750,000-$12.8M
MDGLreduced-42,500-$9.83M
ASNDreduced-65,000-$8.19M
ALPINE IMMUNE SCIENCES INCexited-664,132-$7.6M

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 2023

Share positions as resolved from 13F-HR 0001420506-24-000335, largest first. % of portfolio is the value over $173,719,342, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
AXSMAXSOME THERAPEUTICS INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 235,000 shares; 2023Q1: 225,000 shares; 2023Q2: 110,000 shares; 2023Q3: 110,000 shares; 2023Q4: 165,000 shares 165,000$13.1M7.56%+55,000Timeline
BHVNBIOHAVEN LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: 275,000 shares 275,000$11.8M6.78%newTimeline
SRPTSAREPTA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 55,000 shares; 2023Q1: 60,000 shares; 2023Q2: 85,000 shares; 2023Q3: 40,000 shares; 2023Q4: 100,000 shares 100,000$9.64M5.55%+60,000Timeline
AMBRX BIOPHARMA INCAMBRX BIOPHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: 475,000 shares 475,000$6.76M3.89%new
ROIVROIVANT SCIENCES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: not reported; 2023Q2: 64,000 shares; 2023Q3: 64,000 shares; 2023Q4: 600,000 shares 600,000$6.74M3.88%+536,000Timeline
VRDNVIRIDIAN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 165,000 shares; 2023Q1: 175,000 shares; 2023Q2: 240,000 shares; 2023Q3: 275,000 shares; 2023Q4: 300,000 shares 300,000$6.53M3.76%+25,000Timeline
KRYSKRYSTAL BIOTECH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: not reported; 2023Q2: 20,000 shares; 2023Q3: 80,000 shares; 2023Q4: 50,000 shares 50,000$6.2M3.57%-30,000Timeline
GPCRSTRUCTURE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: 55,000 shares; 2023Q4: 150,000 shares 150,000$6.11M3.52%+95,000Timeline
TARSTARSUS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 80,000 shares; 2023Q1: 80,000 shares; 2023Q2: 150,000 shares; 2023Q3: 400,000 shares; 2023Q4: 300,000 shares 300,000$6.08M3.5%-100,000Timeline
ARGXARGENX SEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: 2,500 shares; 2023Q4: 15,000 shares 15,000$5.71M3.28%+12,500Timeline
ALNYALNYLAM PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: 27,500 shares 27,500$5.26M3.03%newTimeline
BBIOBRIDGEBIO PHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: 25,000 shares; 2023Q2: 42,000 shares; 2023Q3: 75,000 shares; 2023Q4: 125,000 shares 125,000$5.05M2.9%+50,000Timeline
MLTXMOONLAKE IMMUNOTHERAPEUTICSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: 195,000 shares; 2023Q2: 330,000 shares; 2023Q3: 330,000 shares; 2023Q4: 80,000 shares 80,000$4.83M2.78%-250,000Timeline
AEROVATE THERAPEUTICS INCAEROVATE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 135,000 shares; 2023Q1: 200,000 shares; 2023Q2: 201,197 shares; 2023Q3: 201,197 shares; 2023Q4: 210,000 shares 210,000$4.75M2.74%+8,803
SLNOSOLENO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: 112,385 shares 112,385$4.52M2.6%newTimeline
PCVXVAXCYTE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 160,000 shares; 2023Q1: 225,000 shares; 2023Q2: 280,000 shares; 2023Q3: 140,000 shares; 2023Q4: 70,000 shares 70,000$4.4M2.53%-70,000Timeline
TGTXTG THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: 1,100,000 shares; 2023Q2: 825,000 shares; 2023Q3: 1,000,000 shares; 2023Q4: 250,000 shares 250,000$4.27M2.46%-750,000Timeline
EYPTEYEPOINT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: 325,000 shares; 2023Q4: 165,000 shares 165,000$3.81M2.2%-160,000Timeline
TSHATAYSHA GENE THERAPIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: 1,325,000 shares; 2023Q4: 2,100,000 shares 2,100,000$3.72M2.14%+775,000Timeline
DECIPHERA PHARMACEUTICALS INDECIPHERA PHARMACEUTICALS INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: 325,000 shares; 2023Q4: 225,000 shares 225,000$3.63M2.09%-100,000
SVRASAVARA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: 750,000 shares 750,000$3.52M2.03%newTimeline
PHATPHATHOM PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: not reported; 2023Q2: 154,250 shares; 2023Q3: 395,000 shares; 2023Q4: 385,241 shares 385,241$3.52M2.02%-9,759Timeline
MDGLMADRIGAL PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 20,000 shares; 2023Q1: 30,000 shares; 2023Q2: 55,000 shares; 2023Q3: 57,500 shares; 2023Q4: 15,000 shares 15,000$3.47M2%-42,500Timeline
CABACABALETTA BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: 150,000 shares 150,000$3.4M1.96%newTimeline
REPLREPLIMUNE GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: not reported; 2023Q2: 10,865 shares; 2023Q3: not reported; 2023Q4: 400,000 shares 400,000$3.37M1.94%newTimeline
REVANCE THERAPEUTICS INCREVANCE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 300,000 shares; 2023Q1: 250,000 shares; 2023Q2: 525,000 shares; 2023Q3: 350,000 shares; 2023Q4: 375,000 shares 375,000$3.3M1.9%+25,000
PTGXPROTAGONIST THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: 225,000 shares; 2023Q2: 225,000 shares; 2023Q3: 400,000 shares; 2023Q4: 125,000 shares 125,000$2.87M1.65%-275,000Timeline
ASTRIA THERAPEUTICS INCASTRIA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 450,000 shares; 2023Q1: 450,000 shares; 2023Q2: 300,173 shares; 2023Q3: 300,000 shares; 2023Q4: 335,000 shares 335,000$2.57M1.48%+35,000
ASNDASCENDIS PHARMA A/SQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 130,000 shares; 2023Q1: 110,000 shares; 2023Q2: 100,000 shares; 2023Q3: 85,000 shares; 2023Q4: 20,000 shares 20,000$2.52M1.45%-65,000Timeline
ARVNARVINAS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: 59,250 shares 59,250$2.44M1.4%newTimeline
CRNXCRINETICS PHARMACEUTICALS INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: 101,443 shares; 2023Q4: 65,000 shares 65,000$2.31M1.33%-36,443Timeline
PMVPPMV PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: not reported; 2023Q2: 280,981 shares; 2023Q3: 705,881 shares; 2023Q4: 725,000 shares 725,000$2.25M1.29%+19,119Timeline
NTRANATERA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: 35,000 shares 35,000$2.19M1.26%newTimeline
CYMABAY THERAPEUTICS INCCYMABAY THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: 90,000 shares 90,000$2.13M1.22%new
KALVKALVISTA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: 100,000 shares; 2023Q4: 130,036 shares 130,036$1.59M0.92%+30,036Timeline
ACADACADIA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: 80,000 shares; 2023Q4: 50,000 shares 50,000$1.57M0.9%-30,000Timeline
MARINUS PHARMACEUTICALS INCMARINUS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: 135,000 shares 135,000$1.47M0.84%new
INHIBRX INCINHIBRX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: not reported; 2023Q2: 35,000 shares; 2023Q3: 35,000 shares; 2023Q4: 35,000 shares 35,000$1.33M0.77%0
COGTCOGENT BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: 800,000 shares; 2023Q1: 550,000 shares; 2023Q2: 575,000 shares; 2023Q3: 650,000 shares; 2023Q4: 195,000 shares 195,000$1.15M0.66%-455,000Timeline
QUREUNIQURE NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: 375,000 shares; 2023Q2: 215,000 shares; 2023Q3: 215,000 shares; 2023Q4: 165,000 shares 165,000$1.12M0.64%-50,000Timeline
CYTKCYTOKINETICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: 90,000 shares; 2023Q4: 10,000 shares 10,000$835K0.48%-80,000Timeline
PERSPECTIVE THERAPEUTICS INCPERSPECTIVE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: 1,600,000 shares 1,600,000$643K0.37%new
BLUEBIRD BIO INCBLUEBIRD BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: 465,000 shares 465,000$642K0.37%new
VERONA PHARMA PLCVERONA PHARMA PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: not reported; 2023Q1: not reported; 2023Q2: 110,000 shares; 2023Q3: 45,000 shares; 2023Q4: 30,000 shares 30,000$596K0.34%-15,000

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
IWMISHARES TR SHScall250,000$50.2Mnew
XBISPDR SERIES TRUST S&P BIOTECHput300,000$26.8Mnew
XBISPDR SERIES TRUST S&P BIOTECHcall250,000$22.3M-50,000
MLTXMOONLAKE IMMUNOTHERAPEUTICS Stockcall250,000$15.1Mnew
CYTKCYTOKINETICS INC COM NEWcall80,000$6.68Mnew
APLSAPELLIS PHARMACEUTICALS INC COMcall100,000$5.99M-85,000
AMLXAMYLYX PHARMACEUTICALS INC COMcall200,000$2.94Mnew
RVMDREVOLUTION MEDICINES INC Stockput75,000$2.15Mnew

Sold out in Q4 2023

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

SecurityShares beforeValue beforeType
SRPTSAREPTA THERAPEUTICS INC150,000$18.2Mcall
MLTXMOONLAKE IMMUNOTHERAPEUTICS250,000$14.2Mput
AKROAKERO THERAPEUTICS INC250,000$12.6Mcall
ALPINE IMMUNE SCIENCES INCALPINE IMMUNE SCIENCES INC664,132$7.6Mshares
RCKTROCKET PHARMACEUTICALS INC295,000$6.04Mcall
AMBRX BIOPHARMA, INC. SPONS…AMBRX BIOPHARMA, INC. SPONSORED A…525,000$6.04Mshares
AKROAKERO THERAPEUTICS INC115,000$5.82Mshares
IMVTIMMUNOVANT INC130,000$4.99Mshares
SNDXSYNDAX PHARMACEUTICALS INC300,000$4.36Mput
REPLREPLIMUNE GROUP INC250,000$4.28Mcall
AMLXAMYLYX PHARMACEUTICALS INC215,000$3.94Mshares
CYMABAY THERAPEUTICS INCCYMABAY THERAPEUTICS INC237,900$3.55Mcall
XENEXENON PHARMACEUTICALS INC98,951$3.38Mshares
IMVTIMMUNOVANT INC85,000$3.26Mput
SNDXSYNDAX PHARMACEUTICALS INC200,000$2.9Mshares
IMMUNOGEN INCIMMUNOGEN INC175,000$2.78Mshares
MORPHOSYS AGMORPHOSYS AG400,000$2.69Mshares
MIRATI THERAPEUTICS INCMIRATI THERAPEUTICS INC60,000$2.61Mshares
VKTXVIKING THERAPEUTICS INC225,000$2.49Mshares
FOLDAMICUS THERAPEUTIC175,000$2.13Mshares
KARUNA THERAPEUTICS INCKARUNA THERAPEUTICS INC12,500$2.11Mshares
ACELYRIN INCACELYRIN INC200,000$2.03Mshares
ACELYRIN INCACELYRIN INC200,000$2.03Mput
ZNTLZENTALIS PHARMACEUTICALS INC100,000$2.01Mshares
LEGNLEGEND BIOTECH CORP22,500$1.51Mshares
RCUSARCUS BIOSCIENCES INC75,000$1.35Mshares
TVTXTRAVERE THERAPEUTICS INC150,000$1.34Mshares
VTYXVENTYX BIOSCIENCES INC35,000$1.22Mshares
WHWKWHITEHAWK THERAPEUTICS INC250,000$1.21Mshares
BMEABIOMEA FUSION INC65,000$894Kshares
FUSION PHARMACEUTICALS INCFUSION PHARMACEUTICALS INC243,287$633Kshares
ABOSACUMEN PHARMACEUTICALS INC150,000$622Kshares
89BIO INC89BIO INC30,000$463Kshares
RNAMAVIDITY BIOSCIENCES INC65,000$415Kshares
RAIN ONCOLOGY INCRAIN ONCOLOGY INC325,000$280Kshares
Mersana Therapeutics IncMersana Therapeutics Inc61,250$77.8Kshares

How Q4 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 0001420506-24-000335 base2024-02-14acceptance time not in the bulk data set