Baron Funds, an investment management firm, released its “Baron Global Advantage Fund” third quarter 2023 investor letter, a copy of which can be downloaded here. During the third quarter of 2023, the Baron Global Advantage Fund®, denoted as the “Fund,” experienced a 6.1% loss for its Institutional Shares. This performance can be compared to the 3.4% losses of the MSCI ACWI Index, known as the “Benchmark,” and the 4.9% losses for the MSCI ACWI Growth Index, which serves as the Fund’s benchmarks. Take a moment to review the fund’s top 5 holdings to gain insights into their primary investment choices for 2023.
In its Q3 2023 investor letter, Baron Global Advantage Fund mentioned argenx SE (NASDAQ:ARGX) and explained its insights for the company. argenx SE (NASDAQ:ARGX) is a Netherlands-based clinical stage biotechnology company with a $29.1 billion market capitalization. argenx SE (NASDAQ:ARGX) delivered a 30.15% return since the beginning of the year, while its 12-month returns are up by 36.08%. The stock closed at $493.03 per share on November 6, 2023.
Here is what Baron Global Advantage Fund has to say about argenx SE (NASDAQ:ARGX) in its Q3 2023 investor letter:
“Argenx SE is a biotechnology company focused on autoimmune disorders. Shares increased 26.4% in the third quarter following positive chronic immune demyelinating polyneuropathy (CIDP) Phase 3 trial results. CIDP is an important commercial market representing billions of dollars in potential sales, and investors viewed this data set as a high profile catalyst. Overall, we believe that the strong Vyvgart launch, with early sales tripling consensus expectations and global approvals coming earlier than guided, will drive revenue growth over the next few years. Furthermore, we expect the next few years to have many catalysts, including readouts in pemphigus vulgaris, immune thrombocytic purpura, bullous pemphigoid, myositis, and argenx’s subcutaneous formulation launch. We believe that positive readouts would expand argenx’s opportunity set and therefore remain shareholders.”
A researcher poring over test results, illustrating the breakthrough potential of biotechnology.
Our calculations show that argenx SE (NASDAQ:ARGX) does not belong on our list of the 30 Most Popular Stocks Among Hedge Funds. argenx SE (NASDAQ:ARGX) was in 47 hedge fund portfolios at the end of the second quarter of 2023, compared to 43 funds in the previous quarter. argenx SE (NASDAQ:ARGX) delivered a 1.91% return in the past 3 months. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters Q3 2023 page.
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Disclosure: None. This article is originally published at Insider Monkey.
