Investment management company RGA Investment Advisors recently released its third-quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the market continued the declining trend from the first half of 2022, and September was the worst month for the fund. But the firm believes this is a good time to invest for the long term. The fund invested in biotech and life science tools and instruments verticals for better future returns. You can check the top 5 holdings of the fund to know its best picks in 2022.
In the third quarter 2022 investor letter, RGA Investment Advisors highlighted stocks like Cytek Biosciences, Inc. (NASDAQ:CTKB). Headquartered in Fremont, California, Cytek Biosciences, Inc. (NASDAQ:CTKB) is a cell analysis tools provider for biomedical research and clinical applications. On October 19, 2022, Cytek Biosciences, Inc. (NASDAQ:CTKB) stock closed at $14.56 per share. One-month return of Cytek Biosciences, Inc. (NASDAQ:CTKB) was 14.47% and its shares lost 39.16% of their value over the last 52 weeks. Cytek Biosciences, Inc. (NASDAQ:CTKB) has a market capitalization of $1.96 billion.
RGA Investment Advisors made the following comment about Cytek Biosciences, Inc. (NASDAQ:CTKB) in its Q3 2022 investor letter:
“Cytek Biosciences, Inc. (NASDAQ:CTKB) received coverage in our last letter. We believe CTKB is taking on an industry with an installed base of 50,000 flow cytometers growing approximately 8% annualized, with superior technology, a cost advantage versus all competitors and a mere 2.5% of the opportunity capture. Fueled by a massive stash of dry powder, they can build the razor to complement their already valuable blade. company is profitable (on an EBITDA and cash flow basis) and growing swiftly, for far more reasonable multiples than some TMT companies boasting similar metrics trade with, even after the recent selloff! CTKB’s industry-leading flow cytometers are favored in the research stages by CGT companies. Beyond research, one of the critical growth in the coming years will be in the clinical space, meaning diagnostics. CTKB is actively developing diagnostic tools that will serve as companions alongside cell therapy treatments. This is an area that receives little accord in today’s valuation, but can become quite meaningful down the line.”
Cytek Biosciences, Inc. (NASDAQ:CTKB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 14 hedge fund portfolios held Cytek Biosciences, Inc. (NASDAQ:CTKB) at the end of the second quarter which was 18 in the previous quarter.
We discussed Cytek Biosciences, Inc. (NASDAQ:CTKB) in another article and shared RGA Investment Advisors’ views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
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