Artisan Mid Cap Fund Exited Its Position in Genmab A/S (GMAB) For Better Opportunities

Artisan Partners, an investment management company, released its “Artisan Mid Cap Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, its Investor Class fund ARTMX returned -1.13%, Advisor Class fund APDMX posted a return of -1.12%, and Institutional Class fund APHMX returned -1.07%, compared to a return of 6.90% for the Russell Midcap Growth Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Artisan Partners highlighted stocks like Genmab A/S (NASDAQ:GMAB) in the fourth quarter 2022 investor letter. Headquartered in Copenhagen, Denmark, Genmab A/S (NASDAQ:GMAB) is an antibody therapeutic developer for the treatment of cancer and other diseases. On January 19, 2023, Genmab A/S (NASDAQ:GMAB) stock closed at $39.47 per share. One-month return of Genmab A/S (NASDAQ:GMAB) was -8.32%, and its shares gained 17.82% of their value over the last 52 weeks. Genmab A/S (NASDAQ:GMAB) has a market capitalization of $26.204 billion.

Artisan Partners made the following comment about Genmab A/S (NASDAQ:GMAB) in its Q4 2022 investor letter:

“Genmab A/S (NASDAQ:GMAB) is a developer of monoclonal antibody products for the treatment of life-threatening and debilitating diseases. Growth remains strong (+35% YoY in the most recent quarter) for Darzalex, the company’s leading therapy for multiple myeloma, and we continue to find Genmab’s new product pipeline as attractive. However, we trimmed the position based on valuation to support more compelling opportunities within biotech.”

Photo by National Cancer Institute on Unsplash

Genmab A/S (NASDAQ:GMAB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 12 hedge fund portfolios held Genmab A/S (NASDAQ:GMAB) at the end of the third quarter, and 6 in the previous quarter.

We discussed Genmab A/S (NASDAQ:GMAB) in another article and shared the list of biggest Nordic companies. In addition, please check out our hedge fund investor letters Q4 2022 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.