Baron Funds, an investment management company, released its “Baron Health Care Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The fund advanced 7.69% (Institutional Shares) in the quarter compared to a 6.96% gain for the Russell 3000 Health Care Index and an 11.69% increase for the S&P 500 Index. For the full year, the fund increased 6.42%, compared to 2.87% and 26.29% returns for the indexes, respectively. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Baron Health Care Fund featured stocks such as Argenx SE (NASDAQ:ARGX) in the fourth quarter 2023 investor letter. Headquartered in Amsterdam, the Netherlands, Argenx SE (NASDAQ:ARGX) is a biotechnology company. On January 19, 2024, Argenx SE (NASDAQ:ARGX) stock closed at $366.90 per share. One-month return of Argenx SE (NASDAQ:ARGX) was -1.61%, and its shares lost 6.93% of their value over the last 52 weeks. Argenx SE (NASDAQ:ARGX) has a market capitalization of $21.718 billion.
Baron Health Care Fund stated the following regarding Argenx SE (NASDAQ:ARGX) in its fourth quarter 2023 investor letter:
“Argenx SE (NASDAQ:ARGX) is a biotechnology company focused on autoimmune disorders. Shares fell in the quarter on the back of failed clinical trials in immune thrombocytopenic purpura and pemphigus vulgaris. While the company is still analyzing the data to understand the reason for the trial failures, we do not think these events are thesis changing. On the positive side, the strong launch of Vyvgart, with early sales tripling consensus expectations and global approvals coming earlier than guided, should continue to drive revenue growth. We expect 2024 to be another year of solid stock performance, with many catalysts including the company’s subcutaneous formulation launch along with readouts in myositis, Sjogren’s syndrome, and multifocal motor neuropathy.”
A scientist working in a laboratory, researching a new biotechnology drug.
Argenx SE (NASDAQ:ARGX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 48 hedge fund portfolios held Argenx SE (NASDAQ:ARGX) at the end of third quarter which was 47 in the previous quarter.
We discussed Argenx SE (NASDAQ:ARGX) in another article and shared the list of high growth international stocks to buy. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
