Halozyme Therapeutics (HALO) Underperformed Despite Strong Outlook

Bernzott Capital Advisors, an investment management firm, published its “US Small Cap Value Fund” fourth-quarter 2023 investor letter, a copy of which can be downloaded here. In the fourth quarter, the portfolio gained +14.1% on a net basis, lagging behind R2000V’s advance of +15.2% and above R2500V’s rise of +13.7%. The largest contribution to the gains on the portfolio was the industrial sector. Within Industrials, stock selection was the primary driver. 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 featured stocks such as Halozyme Therapeutics, Inc. (NASDAQ:HALO) in the fourth quarter 2023 investor letter. Based in San Diego, California, Halozyme Therapeutics, Inc. (NASDAQ:HALO) is a biopharma technology company. On February 13, 2024, Halozyme Therapeutics, Inc. (NASDAQ:HALO) stock closed at $34.64 per share. One-month return of Halozyme Therapeutics, Inc. (NASDAQ:HALO) was -3.88%, and its shares lost 29.59% of their value over the last 52 weeks. Halozyme Therapeutics, Inc. (NASDAQ:HALO) has a market capitalization of $4.576 billion.

Bernzott Capital Advisors US Small Cap Value Fund stated the following regarding Halozyme Therapeutics, Inc. (NASDAQ:HALO) in its fourth quarter 2023 investor letter:

“Halozyme Therapeutics, Inc. (NASDAQ:HALO): Despite an inline quarter and solid outlook, the stock underperformed. We believe there are several potential licensing agreement catalysts heading into 2024 that should add to their highly predictable and cash flow generating royalty revenue streams.”

A scientist in the lab, researching the development of biopharmaceutical monoclonal antibody drugs.

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 third quarter which was 25 in the previous quarter.

We discussed Halozyme Therapeutics, Inc. (NASDAQ:HALO) in another article and shared the list of stocks receiving price-target cut from analysts. In addition, please check out our hedge fund investor letters Q4 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.