Miller Value Partners recently released its Q1 2021 Investor Letter, a copy of which you can download here. The Miller Opportunity Trust posted solid gains, with Class I up 16.67%, outperforming its benchmark, the S&P 500 Index which returned 6.17% in the same quarter. You should check out Miller Value Partners’ top 5 stock picks for investors to buy right now, which could be the biggest winners of this year.
In the Q1 2021 Investor Letter, the fund highlighted a few stocks and Precigen Inc. (NASDAQ:PGEN) is one of them. Precigen Inc. (NASDAQ:PGEN) is a biotechnology company. In the last three months, Precigen Inc. (NASDAQ:PGEN) stock lost 23%. Here is what the fund said:
“Precigen Inc. (PGEN) declined 30% following a strong gain in the fourth quarter of 2020. The company presented at the JPMorgan Healthcare Conference where they highlighted their plans to begin development and validation for an UltraCAR “off-the-shelf” library of non-viral plasmids targeting various tumor-associated antigens across a range of hematologic and solid tumor indications. The company noted that they expect to complete dose-escalation and initiate the expansion portion of the phase 1 study in 2021. The company reported preliminary data suggesting their Phase I study of PRGN-2009 immunotherapy for HPV associated cancers showed increased immune response on repeated administration of the therapy. The company raised $112.5M in new capital selling 15M additional shares at $7.50. The new capital will be used to rapidly accelerate their UltraCAR-T program into the clinic. In March, the company announced that they had received orphan drug status from the FDA for PRGN-2012 to treat recurrent respiratory papillomatosis. Finally, the company closed out the quarter by announcing the departure of CFO, Rick Sterling, effective April 2nd. The company has begun an executive search for a successor.”
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In Q3 2020, the number of bullish hedge fund positions on Precigen Inc. (NASDAQ:PGEN) stock decreased by about 20% from the previous quarter (see the chart here), so a number of other hedge fund managers don’t believe in PGEN’s growth potential. Our calculations showed that Precigen Inc. (NASDAQ:PGEN) isn’t ranked among the 30 most popular stocks among hedge funds.
The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
At Insider Monkey we scour multiple sources to uncover the next great investment idea. For example, Federal Reserve has been creating trillions of dollars electronically to keep the interest rates near zero. We believe this will lead to inflation and boost real estate prices. So, we recommended this real estate stock to our monthly premium newsletter subscribers. We go through lists like the 15 best innovative stocks to buy to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our website:
Disclosure: None. This article is originally published at Insider Monkey.
