Bernzott Capital Advisors, an investment management firm, published its “US Small Cap Value Fund” first-quarter 2023 investor letter, a copy of which can be downloaded here. In the first quarter, the fund was flat on a net basis (-0.06%) compared to R2000V’s decline of -0.7% and R2500V’s rise of +1.4%. Financials was the leading contributor towards the fund’s relative performance in the quarter with positive stock selection while Health Care and Information Technology detracted from the performance. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Bernzott Capital Advisors US Small Cap Value Fund highlighted stocks like Halozyme Therapeutics, Inc. (NASDAQ:HALO) in the first quarter 2023 investor letter. Based in San Diego, California, Halozyme Therapeutics, Inc. (NASDAQ:HALO) is a biopharma technology company. On April 24, 2023, Halozyme Therapeutics, Inc. (NASDAQ:HALO) stock closed at $33.54 per share. One-month return of Halozyme Therapeutics, Inc. (NASDAQ:HALO) was -8.13%, and its shares lost 21.96% of their value over the last 52 weeks. Halozyme Therapeutics, Inc. (NASDAQ:HALO) has a market capitalization of $4.542 billion.
Bernzott Capital Advisors US Small Cap Value Fund made the following comment about Halozyme Therapeutics, Inc. (NASDAQ:HALO) in its Q1 2023 investor letter:
“Health Care was the leading detractor from relative returns. Halozyme Therapeutics, Inc. (NASDAQ:HALO) fell 32.9% for the quarter. The decline started when it delivered its initial 2023 profit outlook which was modestly below expectations despite pointing to solid revenue and earnings growth. Later, news came that a partner drug suffered a patent setback in Europe on one of several patents. In response, the company reaffirmed its 2023 financial targets and indicated no expected change from royalties from the partner drug through 2030.”
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Halozyme Therapeutics, Inc. (NASDAQ:HALO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 23 hedge fund portfolios held Halozyme Therapeutics, Inc. (NASDAQ:HALO) at the end of the fourth quarter which was 21 in the previous quarter.
We discussed Halozyme Therapeutics, Inc. (NASDAQ:HALO) in another article and shared the list of high growth pharma stocks that are profitable. In addition, please check out our hedge fund investor letters Q1 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.
