Aristotle Atlantic Partners, LLC, an investment advisor, released its “Focus Growth Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The market rebounded in the fourth quarter as the S&P 500 Index rose 11.69%. Aristotle Atlantic’s Focus Growth strategy returned 15.02% gross of fees (14.99% net of fees), in the quarter outperforming the Russell 1000 Growth Index’s 14.16% total return. The relative outperformance was due to both allocation effects and security selection. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Aristotle Atlantic Focus Growth Strategy featured stocks such as Adaptive Biotechnologies Corporation (NASDAQ:ADPT) in the fourth quarter 2023 investor letter. Headquartered in Seattle, Washington, Adaptive Biotechnologies Corporation (NASDAQ:ADPT) is a commercial-stage company that develops an immune medicine platform. On February 12, 2024, Adaptive Biotechnologies Corporation (NASDAQ:ADPT) stock closed at $3.92 per share. One-month return of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) was -8.84%, and its shares lost 54.84% of their value over the last 52 weeks. Adaptive Biotechnologies Corporation (NASDAQ:ADPT) has a market capitalization of $567.51 million.
Aristotle Atlantic Focus Growth Strategy stated the following regarding Adaptive Biotechnologies Corporation (NASDAQ:ADPT) in its fourth quarter 2023 investor letter:
“Adaptive Biotechnologies Corporation (NASDAQ:ADPT) detracted from portfolio performance, following a lower-than-expected earnings report and a reduction in guidance. The company also announced the initiation of a strategic review to evaluate the separation of the diagnostics and drug-discovery parts of their business. Adaptive Biotechnologies clinical testing volume was strong in the fourth quarter, and average selling prices began to improve. We believe the strategic review has the potential to unlock value in the name.”
Medical staff in a laboratory testing samples for the diagnosis of infectious diseases.
Adaptive Biotechnologies Corporation (NASDAQ:ADPT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 15 hedge fund portfolios held Adaptive Biotechnologies Corporation (NASDAQ:ADPT) at the end of third quarter which was 24 in the previous quarter.
We discussed Adaptive Biotechnologies Corporation (NASDAQ:ADPT) in another article and shared the list of best penny stocks to buy for 2024. 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.
