Here’s Why You Should Hold Moderna (MRNA)

Baron Funds, an investment management company, released its “Baron Health Care Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. The first quarter was difficult for the fund, as it failed to participate in the broader market rally and declined 3.69% compared to the 3.27% decline for the benchmark Russell 3000 Health Care Index and a 7.50% increase for the S&P 500 Index. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Baron Health Care Fund highlighted stocks like Moderna, Inc. (NASDAQ:MRNA) in the first quarter 2023 investor letter. Headquartered in Cambridge, Massachusetts, Moderna, Inc. (NASDAQ:MRNA) is a biotechnology company. On May 17, 2023, Moderna, Inc. (NASDAQ:MRNA) stock closed at $125.57 per share. One-month return of Moderna, Inc. (NASDAQ:MRNA) was -11.03%, and its shares lost 12.42% of their value over the last 52 weeks. Moderna, Inc. (NASDAQ:MRNA) has a market capitalization of $47.868 billion.

Baron Health Care Fund made the following comment about Moderna, Inc. (NASDAQ:MRNA) in its Q1 2023 investor letter:

“Moderna, Inc. (NASDAQ:MRNA) is a leader in the emerging field of mRNA-based vaccines and therapeutics and was one of the three main producers of the COVID vaccine. Shares fell during the quarter. We believe as COVID shifts away from pandemic status and becomes an increasingly commercial market (rather than government funded), there is increasing investor uncertainty around what a booster market could look like, which is pressuring shares. Looking beyond COVID, we think Moderna has the potential to disrupt the biopharmaceutical industry, from infectious disease vaccines to oncology, and we remain shareholders.”

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Moderna, Inc. (NASDAQ:MRNA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 52 hedge fund portfolios held Moderna, Inc. (NASDAQ:MRNA) at the end of the fourth quarter which was 44 in the previous quarter.

We discussed Moderna, Inc. (NASDAQ:MRNA) in another article and shared the list of biggest immunotherapy companies in the world. In addition, please check out our hedge fund investor letters Q1 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.