# Ghost Tree Capital, LLC

> Institutional holdings reported to the SEC as of Q3 2024 on Form 13F. CIK 1595851. Source: https://holderbook.com/funds/1595851-ghost-tree-capital-llc/

- Reported value: $331.0M
- Positions: 52
- Weight of the ten largest: 42.4%
- Filed: 2024-11-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| SPDR SERIES TRUST | [XBI](https://holderbook.com/stocks/XBI/) | $29.6M | 0 | 9.0% | 1 |
| BIOHAVEN LTD | [BHVN](https://holderbook.com/stocks/BHVN/) | $17.4M | 348,778 | 5.3% | 1 |
| SAREPTA THERAPEUTICS INC | [SRPT](https://holderbook.com/stocks/SRPT/) | $15.0M | 120,000 | 4.5% | 12 |
| NOVO-NORDISK A S | [NVO](https://holderbook.com/stocks/NVO/) | $13.1M | 110,000 | 4.0% | 1 |
| BLUEPRINT MEDICINES CORP | [BPMC](https://holderbook.com/stocks/BPMC/) | $12.9M | 140,000 | 3.9% | 3 |
| AXSOME THERAPEUTICS INC | [AXSM](https://holderbook.com/stocks/AXSM/) | $12.1M | 135,000 | 3.7% | 11 |
| TARSUS PHARMACEUTICALS INC | [TARS](https://holderbook.com/stocks/TARS/) | $11.5M | 350,000 | 3.5% | 14 |
| PERSPECTIVE THERAPEUTICS INC | [CATX](https://holderbook.com/stocks/CATX/) | $10.0M | 750,000 | 3.0% | 2 |
| CG ONCOLOGY INC | [CGON](https://holderbook.com/stocks/CGON/) | $9.4M | 250,000 | 2.8% | 3 |
| ROIVANT SCIENCES LTD | [ROIV](https://holderbook.com/stocks/ROIV/) | $9.2M | 800,000 | 2.8% | 6 |
| VAXCYTE INC | [PCVX](https://holderbook.com/stocks/PCVX/) | $9.1M | 80,000 | 2.8% | 14 |
| INSMED INC | [INSM](https://holderbook.com/stocks/INSM/) | $9.1M | 75,000 | 2.8% | 3 |
| VIKING THERAPEUTICS INC | [VKTX](https://holderbook.com/stocks/VKTX/) | $8.9M | 140,000 | 2.7% | 3 |
| SYNDAX PHARMACEUTICALS INC | [SNDX](https://holderbook.com/stocks/SNDX/) | $8.7M | 450,000 | 2.6% | 3 |
| JANUX THERAPEUTICS INC | [JANX](https://holderbook.com/stocks/JANX/) | $8.6M | 190,000 | 2.6% | 2 |
| CORBUS PHARMACEUTICALS HLDGS | [CRBP](https://holderbook.com/stocks/CRBP/) | $7.8M | 160,000 | 2.4% | 3 |
| ASCENDIS PHARMA A/S | [ASND](https://holderbook.com/stocks/ASND/) | $7.8M | 52,500 | 2.4% | 2 |
| CRINETICS PHARMACEUTICALS IN | [CRNX](https://holderbook.com/stocks/CRNX/) | $7.7M | 150,000 | 2.3% | 5 |
| SOLENO THERAPEUTICS INC | [SLNO](https://holderbook.com/stocks/SLNO/) | $7.6M | 150,000 | 2.3% | 4 |
| TG THERAPEUTICS INC | [TGTX](https://holderbook.com/stocks/TGTX/) | $7.3M | 310,000 | 2.2% | 7 |
| REZOLUTE INC | [RZLT](https://holderbook.com/stocks/RZLT/) | $7.2M | 1,474,995 | 2.2% | 2 |
| PHATHOM PHARMACEUTICALS INC | [PHAT](https://holderbook.com/stocks/PHAT/) | $6.8M | 375,000 | 2.0% | 6 |
| MOONLAKE IMMUNOTHERAPEUTICS | [MLTX](https://holderbook.com/stocks/MLTX/) | $6.5M | 128,411 | 2.0% | 7 |
| OLEMA PHARMACEUTICALS INC | [OLMA](https://holderbook.com/stocks/OLMA/) | $6.4M | 535,000 | 1.9% | 3 |
| IMMUNOVANT INC | [IMVT](https://holderbook.com/stocks/IMVT/) | $6.1M | 215,000 | 1.9% | 3 |
| EDGEWISE THERAPEUTICS INC | [EWTX](https://holderbook.com/stocks/EWTX/) | $5.2M | 195,000 | 1.6% | 1 |
| REPLIMUNE GROUP INC | [REPL](https://holderbook.com/stocks/REPL/) | $4.9M | 450,000 | 1.5% | 6 |
| BRIDGEBIO PHARMA INC | [BBIO](https://holderbook.com/stocks/BBIO/) | $4.5M | 175,000 | 1.3% | 7 |
| TAYSHA GENE THERAPIES INC | [TSHA](https://holderbook.com/stocks/TSHA/) | $4.3M | 2,150,000 | 1.3% | 5 |
| RHYTHM PHARMACEUTICALS INC | [RYTM](https://holderbook.com/stocks/RYTM/) | $4.1M | 78,842 | 1.2% | 3 |
| ANNEXON INC | [ANNX](https://holderbook.com/stocks/ANNX/) | $3.8M | 650,000 | 1.2% | 2 |
| KORRO BIO INC | [KRRO](https://holderbook.com/stocks/KRRO/) | $3.7M | 110,000 | 1.1% | 2 |
| DYNE THERAPEUTICS INC | [DYN](https://holderbook.com/stocks/DYN/) | $3.6M | 100,000 | 1.1% | 1 |
| ARVINAS INC | [ARVN](https://holderbook.com/stocks/ARVN/) | $3.6M | 145,000 | 1.1% | 4 |
| HELIX ACQUISITION CORP II | [HLXB](https://holderbook.com/stocks/HLXB/) | $3.1M | 300,000 | 0.9% | 3 |
| NUVATION BIO INC | [NUVB](https://holderbook.com/stocks/NUVB/) | $3.1M | 1,350,000 | 0.9% | 2 |
| SAVARA INC | [SVRA](https://holderbook.com/stocks/SVRA/) | $3.1M | 725,000 | 0.9% | 4 |
| TENAYA THERAPEUTICS INC | [TNYA](https://holderbook.com/stocks/TNYA/) | $2.9M | 1,500,000 | 0.9% | 3 |
| REGENXBIO INC | [RGNX](https://holderbook.com/stocks/RGNX/) | $2.8M | 265,000 | 0.8% | 3 |
| CORVUS PHARMACEUTICALS INC | [CRVS](https://holderbook.com/stocks/CRVS/) | $2.6M | 500,000 | 0.8% | 1 |
| ABSCI CORPORATION | [ABSI](https://holderbook.com/stocks/ABSI/) | $2.1M | 550,000 | 0.6% | 1 |
| NEUROGENE INC | [NGNE](https://holderbook.com/stocks/NGNE/) | $2.1M | 50,000 | 0.6% | 3 |
| CAPRICOR THERAPEUTICS INC | [CAPR](https://holderbook.com/stocks/CAPR/) | $1.9M | 125,000 | 0.6% | 1 |
| APELLIS PHARMACEUTICALS INC | [APLS](https://holderbook.com/stocks/APLS/) | $1.9M | 65,000 | 0.6% | 13 |
| SUMMIT THERAPEUTICS INC | [SMMT](https://holderbook.com/stocks/SMMT/) | $1.9M | 85,000 | 0.6% | 1 |
| SPYRE THERAPEUTICS INC | [SYRE](https://holderbook.com/stocks/SYRE/) | $1.8M | 60,000 | 0.5% | 3 |
| VIRIDIAN THERAPEUTICS INC | [VRDN](https://holderbook.com/stocks/VRDN/) | $1.7M | 75,000 | 0.5% | 15 |
| PROQR THRAPEUTICS N V | [PRQR](https://holderbook.com/stocks/PRQR/) | $1.6M | 887,700 | 0.5% | 2 |
| ATYR PHARMA INC | [ATYR](https://holderbook.com/stocks/ATYR/) | $1.4M | 800,000 | 0.4% | 3 |
| LARIMAR THERAPEUTICS INC | [LRMR](https://holderbook.com/stocks/LRMR/) | $1.3M | 200,000 | 0.4% | 1 |
| ENGENE HOLDINGS INC | [ENGN](https://holderbook.com/stocks/ENGN/) | $1.1M | 160,898 | 0.3% | 3 |
| AMYLYX PHARMACEUTICALS INC | [AMLX](https://holderbook.com/stocks/AMLX/) | $1.1M | 325,000 | 0.3% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q3 2024 | +12.9% | +5.4% | +7.4% | 90% |
| Q2 2024 | -9.8% | +4.0% | -13.8% | 91% |
| Q1 2024 | +9.8% | +10.0% | -0.2% | 84% |
| Q4 2023 | +22.2% | +11.2% | +11.0% | 77% |
| Q3 2023 | -21.0% | -3.6% | -17.4% | 97% |
| Q2 2023 | +9.8% | +8.3% | +1.5% | 82% |
| Q1 2023 | +11.5% | +7.0% | +4.5% | 100% |
| Q4 2022 | +10.6% | +7.1% | +3.5% | 83% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q3 2024 | $331.0M | 52 |
| Q2 2024 | $319.3M | 60 |
| Q1 2024 | $361.3M | 68 |
| Q4 2023 | $305.9M | 49 |
| Q3 2023 | $304.1M | 63 |
| Q2 2023 | $302.9M | 57 |
| Q1 2023 | $338.3M | 54 |
| Q4 2022 | $234.2M | 35 |
| Q3 2022 | $356.3M | 38 |
| Q2 2022 | $192.0M | 31 |
| Q1 2022 | $460.8M | 41 |
| Q4 2021 | $279.0M | 45 |