Investment management company RGA Investment Advisors recently released its third-quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the market continued the declining trend from the first half of 2022, and September was the worst month for the fund. But the firm believes this is a good time to invest for the long term. The fund invested in biotech and life science tools and instruments verticals for better future returns. You can check the top 5 holdings of the fund to know its best picks in 2022.
In the third quarter 2022 investor letter, RGA Investment Advisors highlighted stocks like Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN). Headquartered in Tarrytown, New York, Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) is a pharmaceutical company. On October 19, 2022, Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) stock closed at $709.37 per share. One-month return of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) was 3.07% and its shares gained 24.59% of their value over the last 52 weeks. Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) has a market capitalization of $77.327 billion.
RGA Investment Advisors made the following comment about Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) in its Q3 2022 investor letter:
“Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) has been a stalwart of our portfolio for several years now. The company is investing mightily in R&D to capitalize on their platform for innovation, moving into oncology, nearly 10% of their market cap in cash and potent cash generation each year fueling this investment. We think the oncology pipeline is valued at either $0 or less by many analysts out there, meanwhile we think it is an emerging platform, leveraging REGN’s dual discovery platforms of the Regeneron Genomics Center (RGC) and the VelociSuite. Recently the company presented initial data on the CD28 target which could be a profound breakthrough in the treatment of hard cancers. Although trial outcomes remain years away, the value of the oncology pipeline is certainly greater than zero. Why else would the recent President and CEO of Memorial Sloan Kettering Cancer Center join the board of directors were there not belief behind the pipeline in immunology?[22] It seems like an opportunity to us that Wall Street does not share this enthusiasm. Beyond the company’s core competency in antibodies, REGN has leveraged its RGC and Veloci-Suite into impactful partnerships with CGT industry leaders like Alnylam (ALNY) and Jennifer Doudna’s Intellia (NTLA). These partnerships include equity stakes and shared costs and revenues for key pieces of these respective company’s pipelines.”
Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 44 hedge fund portfolios held Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) at the end of the second quarter which was 44 in the previous quarter.
We discussed Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) in another article and shared notable pharma stocks to buy according to Steven Boyd’s Armistice Capital. 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.
