Artisan Partners, an investment management company, released its “Artisan Mid Cap Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, its Investor Class fund ARTMX returned -2.43%, Advisor Class fund APDMX posted a return of -2.42%, and Institutional Class fund APHMX returned -2.41%, compared to a return of -0.65% for the Russell Midcap Growth Index. Sector allocation dragged the fund’s relative performance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
In the third-quarter letter, Artisan Partners discussed stocks like BioNTech SE (NASDAQ:BNTX). Headquartered in Mainz, Germany, BioNTech SE (NASDAQ:BNTX) is a biotechnology company. On November 14, 2022, BioNTech SE (NASDAQ:BNTX) stock closed at $160.37 per share. One-month return of BioNTech SE (NASDAQ:BNTX) was 15.42% and its shares lost 35.97% of their value over the last 52 weeks. BioNTech SE (NASDAQ:BNTX) has a market capitalization of $38.919 billion.
Artisan Partners made the following comment about BioNTech SE (NASDAQ:BNTX) in its Q3 2022 investor letter:
“BioNTech SE (NASDAQ:BNTX) is a leading biotech company focused on developing immunotherapies to treat cancer and other serious diseases. Over the past year, we trimmed our position significantly as we believed the stock’s valuation failed to reflect the windfall nature of COVID-19 vaccine cash flows. With the stock nearly 70% off its highs and, more importantly, at a reasonable discount to our PMV estimate, we view the valuation as opportunistic given its long-term profit cycle potential. BioNTech’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 the company’s R&D pipeline beyond COVID-19 vaccines will take some time to mature, it is well funded by close to $20 billion in COVID-vaccine proceeds. We increased our position within the GardenSM as the stock declined.”
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BioNTech SE (NASDAQ:BNTX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 26 hedge fund portfolios held BioNTech SE (NASDAQ:BNTX) at the end of the second quarter, which was 29 in the previous quarter.
We discussed BioNTech SE (NASDAQ:BNTX) in another article and shared the list of best stocks for long-term growth. 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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Disclosure: None. This article is originally published at Insider Monkey.
