Baron Funds: “We Retain Conviction in Arrowhead (ARWR)”

Baron Funds, an asset management firm, published its “Baron Opportunity Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. Baron Opportunity Fund (the “Fund”) fell sharply and significantly lagged the broader market during the first quarter. For the period, the Fund dropped 16.02% (Institutional Shares), trailing the Russell 3000 Growth Index, which fell 9.25%, and the S&P 500 Index, which declined 4.60%. Try to spend some time looking at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Baron Opportunity Fund mentioned Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) and explained its insights for the company. Founded in 1989, Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) is a Pasadena, California-based publicly-traded biopharmaceutical company with a $2.9 billion market capitalization. Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) delivered a -57.35% return since the beginning of the year, while its 12-month returns are down by -68.01%. The stock closed at $28.28 per share on June 13, 2022.

Here is what Baron Opportunity Fund has to say about Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) in its Q1 2022 investor letter:

“Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) is a developer of RNAi (interference) technologies for drug development. Arrowhead has a large pipeline of both internal and licensed drug candidates, and we expect this pipeline to drive continued success for the company. Shares fell given a lack of near-term catalysts to drive news flow and the lack of new disclosures regarding targeting tissues beyond the liver. We retain conviction in Arrowhead as we think RNAi as a modality is well established and believe it will lead to many important drugs in the future.”

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Our calculations show that Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) was in 27 hedge fund portfolios at the end of the first quarter of 2022, compared to 26 funds in the previous quarter. Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) delivered a -28.62% return in the past 3 months.

In November 2021, we also shared another hedge fund’s views on Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

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