SILVERARC CAPITAL MANAGEMENT LLC's Q2 2023 13F: 21 new positions, 11 exits
Form 13F-HR for the quarter ended Jun 30, 2023 · filed Aug 14, 2023 · 77 reported positions · accession 0001420506-23-001582
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Increased | ImmunoGen Inc (IMGN) | 0.3% | 9.0% | +8.8 pts | +1.27M sh | +847% |
| Increased | Morphic Holding Inc (MORF) | 0.9% | 4.9% | +4.0 pts | +201K sh | +388% |
| Increased | Krystal Biotech Inc (KRYS) | 1.2% | 4.7% | +3.5 pts | +84,927 sh | +250% |
| Exited | Bellus Health Inc (BLU) | 3.2% | — | −3.2 pts | −1M sh | −100% |
| Reduced | Nuvalent Inc (NUVL) | 3.3% | 1.6% | −1.7 pts | −166K sh | −59% |
| Exited | Regeneron Pharmaceuticals Inc (REGN) | 1.8% | — | −1.8 pts | −5,000 sh | −100% |
| Reduced | Pharvaris NV (PHVS) | 2.0% | 1.0% | −1.0 pts | −359K sh | −64% |
| Increased | MoonLake Immunotherapeutics (MLTX) | 1.0% | 3.4% | +2.4 pts | +94,250 sh | +89% |
| Increased | Intra-Cellular Therapies Inc (ITCI) | 3.0% | 4.2% | +1.2 pts | +73,688 sh | +59% |
| Increased | Biogen Idec Inc (BIIB) | 1.4% | 2.6% | +1.2 pts | +15,543 sh | +137% |
| New | Praxis Precision Medicines Inc (PRAX) | — | 1.3% | +1.3 pts | +3.48M sh | new |
| Exited | Alnylam Pharmaceuticals Inc (ALNY) | 1.3% | — | −1.3 pts | −14,043 sh | −100% |
| Increased | Tela Bio Inc (TELA) | 0.3% | 1.4% | +1.2 pts | +362K sh | +670% |
| Increased | Schrodinger Inc (SDGR) | 2.5% | 4.8% | +2.3 pts | +73,344 sh | +34% |
| Exited | Cullinan Oncology Inc (CGEM) | 1.2% | — | −1.2 pts | −265K sh | −100% |
| New | Olema Pharmaceuticals Inc (OLMA) | — | 1.2% | +1.2 pts | +390K sh | new |
| New | Prothena Corporation PLC (PRTA) | — | 1.1% | +1.1 pts | +49,721 sh | new |
| New | Mirati Therapeutics Inc (MRTX) | — | 1.1% | +1.1 pts | +91,213 sh | new |
| Exited | Madrigal Pharmaceuticals Inc (MDGL) | 1.1% | — | −1.1 pts | −10,000 sh | −100% |
| New | ANI Pharmaceuticals Inc (ANIP) | — | 1.0% | +1.0 pts | +54,041 sh | new |
| Reduced | Immatics Nv (IMTX) | 0.9% | 0.1% | −0.8 pts | −252K sh | −89% |
| Reduced | Celldex Therapeutics Inc (CLDX) | 1.4% | 0.1% | −1.3 pts | −74,651 sh | −88% |
| Increased | United Therapeutics Corp (UTHR) | 1.9% | 2.2% | +0.4 pts | +11,451 sh | +62% |
| Increased | Sarepta Therapeutics Inc (SRPT) | 0.6% | 1.2% | +0.6 pts | +20,590 sh | +222% |
| Reduced | Protagonist Therapeutics Inc (PTGX) | 1.1% | 0.2% | −0.9 pts | −80,486 sh | −76% |
| Reduced | Merus NV (MRUS) | 5.5% | 5.2% | −0.3 pts | −79,529 sh | −12% |
| Exited | Prometheus Biosciences Inc (RXDX) | 0.7% | — | −0.7 pts | −13,921 sh | −100% |
| Reduced | Viking Therapeutics Inc (VKTX) | 2.8% | 1.4% | −1.4 pts | −121K sh | −32% |
| New | Rhythm Pharmaceuticals Inc (RYTM) | — | 0.6% | +0.6 pts | +116K sh | new |
| Reduced | Karyopharm Therapeutics Inc (KPTI) | 2.7% | 0.3% | −2.4 pts | −1.02M sh | −66% |
| Increased | Akero Therapeutics Inc (AKRO) | 3.5% | 3.8% | +0.3 pts | +38,796 sh | +19% |
| Exited | Seres Therapeutics Inc (MCRB) | 0.6% | — | −0.6 pts | −233K sh | −100% |
| New | CymaBay Therapeutics Inc (CBAY) | — | 0.6% | +0.6 pts | +160K sh | new |
| Exited | Astria Therapeutics Inc (ATXS) | 0.6% | — | −0.6 pts | −93,823 sh | −100% |
| New | Ambrx Biopharma Inc (AMAM) | — | 0.6% | +0.6 pts | +100K sh | new |
| Increased | Mersana Therapeutics Inc (MRSN) | 1.0% | 1.1% | +0.1 pts | +460K sh | +85% |
| Reduced | Ventyx Biosciences Inc (VTYX) | 1.1% | 0.3% | −0.8 pts | −45,000 sh | −64% |
| New | Annexon Inc (ANNX) | — | 0.5% | +0.5 pts | +390K sh | new |
| New | Zura Bio Ltd (ZURA) | — | 0.4% | +0.4 pts | +160K sh | new |
| Increased | BioCryst Pharmaceuticals Inc (BCRX) | 2.2% | 1.8% | −0.4 pts | +183K sh | +32% |
| New | Reata Pharmaceuticals Inc (RETA) | — | 0.4% | +0.4 pts | +12,500 sh | new |
| New | Alkermes Plc (ALKS) | — | 0.4% | +0.4 pts | +40,000 sh | new |
| New | Voyager Therapeutics Inc (VYGR) | — | 0.4% | +0.4 pts | +100K sh | new |
| New | Rezolute Inc (RZLT) | — | 0.3% | +0.3 pts | +500K sh | new |
| Reduced | Point Biopharma Global Inc (PNT) | 0.6% | 0.3% | −0.4 pts | −105K sh | −53% |
| Reduced | Viewray Inc (VRAYQ) | 4.3% | 0.0% | −4.3 pts | −2.69M sh | −96% |
| New | BioMarin Pharmaceutical Inc (BMRN) | — | 0.3% | +0.3 pts | +10,000 sh | new |
| Exited | Acumen Pharmaceuticals Inc (ABOS) | 0.3% | — | −0.3 pts | −147K sh | −100% |
| Reduced | 89bio Inc (ETNB) | 3.0% | 2.5% | −0.5 pts | −41,718 sh | −10% |
| Reduced | MacroGenics Inc (MGNX) | 4.4% | 2.2% | −2.2 pts | −146K sh | −11% |
The 50 largest of 79 changes, by size of the trade. Full holdings for this quarter.
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
Top 10 positions — 46.6% of the equity book
Changes in the top 10 this quarter: IMGN entered · MORF entered · SDGR entered · KRYS entered · MLTX entered · BIIB entered · MGNX left · VRAYQ left · PSTX left · TERN left · NUVL left · BLU left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | ImmunoGen Inc (IMGN) | 0.3% | 9.0% | Entered the top 10 |
| 2 | Merus NV (MRUS) | 5.5% | 5.2% | |
| 3 | Morphic Holding Inc (MORF) | 0.9% | 4.9% | Entered the top 10 |
| 4 | Schrodinger Inc (SDGR) | 2.5% | 4.8% | Entered the top 10 |
| 5 | Krystal Biotech Inc (KRYS) | 1.2% | 4.7% | Entered the top 10 |
| 6 | Intra-Cellular Therapies Inc (ITCI) | 3.0% | 4.2% | |
| 7 | Akero Therapeutics Inc (AKRO) | 3.5% | 3.8% | |
| 8 | Oric Pharmaceuticals Inc (ORIC) | 3.7% | 3.8% | |
| 9 | MoonLake Immunotherapeutics (MLTX) | 1.0% | 3.4% | Entered the top 10 |
| 10 | Biogen Idec Inc (BIIB) | 1.4% | 2.6% | Entered the top 10 |
| — | MacroGenics Inc (MGNX) | 4.4% | 2.2% | Left the top 10 |
| — | Viewray Inc (VRAYQ) | 4.3% | 0.0% | Left the top 10 |
| — | Poseida Therapeutics Inc (PSTX) | 3.7% | 1.8% | Left the top 10 |
| — | Terns Pharmaceuticals Inc (TERN) | 3.6% | 1.8% | Left the top 10 |
| — | Nuvalent Inc (NUVL) | 3.3% | 1.6% | Left the top 10 |
| — | Bellus Health Inc (BLU) | 3.2% | 0.0% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).
Option positions (puts and calls)
Reported separately from the positions above. The value a 13F reports for an option is that of the underlying shares, not the option itself.
| Activity | Security | Type | Shares before | Shares now | Reported value |
|---|---|---|---|---|---|
| New | Akero Therapeutics Inc (AKRO) | Call | 0 | 237K | $11M |
| New | Mirati Therapeutics Inc (MRTX) | Call | 0 | 150K | $5.42M |
| Exited | Pliant Therapeutics, Inc (PLRX) | Call | 200K | 0 | $0 |
| Exited | ImmunoGen, Inc (IMGN) | Call | 1.13M | 0 | $0 |
| New | Mersana Therapeutics Inc (MRSN) | Call | 0 | 1.1M | $3.62M |
| Exited | 89bio, Inc (ETNB) | Call | 200K | 0 | $0 |
| Exited | Altimmune, Inc (ALT) | Call | 416K | 0 | $0 |
| New | FibroGen Inc (FGEN) | Call | 0 | 100K | $271K |