Adar1 Capital Management, LLC
ADAR1 Capital Management, LLC is a Texas-based investment advisory firm founded and managed by Dr. Daniel Schneeberger. Headquartered in Austin, TX, the firm manages capital on behalf of investment partnerships and institutional clients. As of the most recent filings, the firm is relatively small, with an employee count under 10, and focuses primarily on public equity market strategies. Their ownership structure centers on Dr. Schneeberger and related entities.
Investment Strategy
ADAR1 Capital Management, LLC employs long/short equity strategies, with a focus on both public equity and related derivatives in the healthcare, biotechnology, and technology sectors. The firm appears to use fundamental analysis to identify both undervalued long opportunities and positions for short-selling, frequently involving event-driven and special situation investments. The firm also engages in concentrated positions when it perceives compelling risk/reward dynamics.
Top Holdings
Equity Positions (187)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
K KROS | KEROS THERAPEUTICS INC | 11.03% | $71.9M | 5,389,264 | $12.61 | $13.35 | +$56.8M |
P PTGX | PROTAGONIST THERAPEUTICS INC | 8.04% | $52.4M | 948,069 | $31.64 | $55.27 | +$7.0M |
B BOXX | EA SERIES TRUST | 5.83% | $38.0M | 337,125 | $106.83 | $112.68 | +$401.2K |
Z ZLAB | ZAI LAB LTD | 4.56% | $29.7M | 850,437 | $25.19 | $34.97 | -$4.3M |
A ABVX | ABIVAX SA | 3.60% | $23.5M | 3,071,340 | $7.90 | $7.65 | +$9.7M |
Options Positions (8)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
S SPY | SPDR S&P 500 ETF TR | New | Put | $25.0M | 405 | $617.85 | $617.85 | +405 | +$25.0M |
J JANX | JANUX THERAPEUTICS INC | — | Call | $6.1M | 2,649 | $23.10 | $27.00 | 0 | -$1.0M |
S SMMT | SUMMIT THERAPEUTICS INC | — | Call | $2.1M | 1,000 | $21.28 | $19.29 | 0 | +$199.0K |
S SRPT | SAREPTA THERAPEUTICS INC | New | Call | $940.5K | 550 | $17.10 | $17.10 | +550 | +$940.5K |
N NKTR | NEKTAR THERAPEUTICS | New | Put | $904.4K | 350 | $25.84 | $25.84 | +350 | +$904.4K |