Ghost Tree Capital’s AUM, Returns and Holdings

Let’s start with the largest newcomers to the fund’s portfolio. Besides being a new one, the position the fund held in Tesaro Inc. (NASDAQ:TSRO) an oncology-focused biopharmaceutical company at the end of Q3, is also among the top ten largest positions in its portfolio. The fund acquired 450,000 of the company’s shares worth $17.55 million.  Then, we have an investment in a biopharmaceutical company Retrophin Inc. (NASDAQ:RTRX) as the fund bought 350,000 shares valued at $10.05 million.

The fund significantly lowered its stake in Global Blood Therapeutics Inc. (NASDAQ:GBT) during the third quarter, to 12,000 shares, worth around $456 thousand, which was down by 96% at the of the quarter. It remains to be seen if the fund will increase its stake in the company during Q4 since the company’s shares went up 40% yesterday. The biotech company had reached an agreement with the U.S. Food and Drug Administration regarding the use of an accelerated approval pathway for a potential sickle cell disease treatment. Meanwhile, the fund also reduced its stake in Bluebird Bio Inc. (NASDAQ:BLUE) by 29% to 75,000 shares valued at $10.95 million.

And now, let’s breeze through the largest positions Ghost Tree Capital held at the end of the third quarter. The fund increased Sarepta Therapeutics Inc. (NASDAQ:SRPT) stake by 20% to 210,000 shares worth $33.91 million. This medical research and drug development company occupied 7.22% of the fund’s portfolio at the end of Q3. The fund actually lowered its stake in Ptc Therapeutics Inc. (NASDAQ:PTCT), which is one of the top three largest fund’s holdings, by 26% to 500,000 shares worth $23.5 million, occupying 5% of its portfolio.

During the third quarter, the fund notably raised its stake in Zafgen Inc. (NASDAQ:ZFGN), a biopharmaceutical company developing treatments for Prader-Willi syndrome (PWS) type 2 diabetes, and liver disease. Ghost Tree Capital boosted its stake in it by 634%, to 750,000 shares, worth around $8.76 million.

The biggest positions Ghost Tree Capital decided to completely sell during the third quarter were in Mersana Therapeutics Inc (NASDAQ:MRSN), whose 600,000 shares the fund previously held and Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR), to whose 700,000 shares the fund said goodbye to.

Disclosure: None. This article was originally published at Insider Monkey.