Here’s Why Meridian Small Cap Growth Fund Trimmed DICE Therapeutics (DICE)

Meridian Funds, managed by ArrowMark Partners, released its “Meridian Small Cap Growth Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 7.41% net compared to a 4.13% return for the Russell 2000 Growth Index. The general positive factors in the market helped the strategy to outperform in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Meridian Small Cap Growth Fund highlighted stocks like DICE Therapeutics, Inc. (NASDAQ:DICE) in its Q4 2022 investor letter. Headquartered in South San Francisco, California, DICE Therapeutics, Inc. (NASDAQ:DICE) is a biopharmaceutical company. On March 21, 2023, DICE Therapeutics, Inc. (NASDAQ:DICE) stock closed at $26.56 per share. One-month return of DICE Therapeutics, Inc. (NASDAQ:DICE) was -9.13%, and its shares gained 41.20% of their value over the last 52 weeks. DICE Therapeutics, Inc. (NASDAQ:DICE) has a market capitalization of $1.267 billion.

Meridian Small Cap Growth Fund made the following comment about DICE Therapeutics, Inc. (NASDAQ:DICE) in its Q4 2022 investor letter:

“DICE Therapeutics, Inc. (NASDAQ:DICE), is a clinical-stage biopharmaceutical company developing oral treatments for chronic autoimmune and inflammatory diseases. Our interest stems largely from the company’s novel approach to therapies for conditions that are currently primarily addressed with injectable medicines, including its lead product candidate DC-806 for the treatment of psoriasis. The stock benefited during the quarter from a clinical trial readout that contained favorable data on both the efficacy and safety of DC-806. Similar to 4D, we trimmed our position as the share price appreciated based on our risk discipline.”

DICE Therapeutics, Inc. (NASDAQ:DICE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held DICE Therapeutics, Inc. (NASDAQ:DICE) at the end of the fourth quarter which was 18 in the previous quarter. In addition, please check out our hedge fund investor letters Q4 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.