Artisan Partners, an investment management company, released its “Artisan Mid Cap Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. Inflation remained on a downward trend in the quarter and the fund’s Investor Class fund ARTMX returned -2.95%, Advisor Class fund APDMX posted a return of -2.92%, and Institutional Class fund APHMX returned -2.90%, compared to a -5.22% return for the Russell Midcap Growth Index. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Artisan Mid Cap Fund highlighted stocks like BioNTech SE (NASDAQ:BNTX) in the Q3 2023 investor letter. Headquartered in Mainz, Germany, BioNTech SE (NASDAQ:BNTX) is a biotechnology company. On December 4, 2023, BioNTech SE (NASDAQ:BNTX) stock closed at $99.91 per share. One-month return of BioNTech SE (NASDAQ:BNTX) was -2.40%, and its shares lost 38.18% of their value over the last 52 weeks. BioNTech SE (NASDAQ:BNTX) has a market capitalization of $23.956 billion.
Artisan Mid Cap Fund made the following comment about BioNTech SE (NASDAQ:BNTX) in its Q3 2023 investor letter:
“Notable trims in the quarter included Zscaler, BioNTech SE (NASDAQ:BNTX) and Ingersoll Rand. BioNTech is a biotech company focused on developing immunotherapies to treat cancer and other serious diseases. Management has been using its COVID-19 vaccine cash flows to reinvest in building a substantial early stage pipeline. The company’s intellectual property in mRNA and COVID-funded manufacturing capacity leave it well positioned to develop new mRNA vaccines and cancer therapies. In addition, the company has non-mRNA technology (e.g., cell therapy assets) and blue-chip partnerships offering additional optionality. While we are optimistic that this pipeline will eventually yield promising medications within oncology and infectious diseases, patience will be required. In the meantime, demand for COVID-19 vaccine boosters continues to wane. Therefore, we decided to trim the position in favor of more compelling near-term opportunities.”
A scientist examining a vial of drugs in a lab, representing the biotechnology company’s research.
BioNTech SE (NASDAQ:BNTX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 19 hedge fund portfolios held BioNTech SE (NASDAQ:BNTX) at the end of third quarter which was 21 in the previous quarter.
We discussed BioNTech SE (NASDAQ:BNTX) in another article and shared the list of best German stocks to buy. In addition, please check out our hedge fund investor letters Q3 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.
