Artko Capital, an asset management firm, published its fourth-quarter 2021 investor letter – a copy of which can be downloaded here. For the fourth calendar quarter of 2021, an average partnership interest in Artko Capital LP was down 3.4% net of fees. At the same time, investments in the most comparable market indexes—Russell 2000, Russell Microcap, and the S&P 500—were up 2.1%, down 2.7%, and up 8.6%, respectively. For the calendar year of 2021, an average partnership interest in Artko Capital LP was up 19.4% net of fees. At the same time, investments in the aforementioned market indexes were up 14.8%, 19.3%, and 28.7%, respectively. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.
Artko Capital, in its Q4 2021 investor letter, mentioned Recro Pharma, Inc. (NASDAQ:REPH) and discussed its stance on the firm. Founded in 2007, Recro Pharma, Inc. (NASDAQ:REPH) is a Pennsylvania-based contract development and manufacturing organization with a $118.4 million market capitalization and is currently spearheaded by its CEO, David Enloe. Recro Pharma, Inc. (NASDAQ:REPH) delivered a 22.81% return since the beginning of the year, while its 12-month returns are down by -43.09%. The stock closed at $2.10 per share on March 18, 2022.
Here is what Artko Capital has to say about Recro Pharma, Inc. (NASDAQ:REPH) in its Q4 2021 investor letter:
“Other – Flotek/Recro Pharma (FTK/REPH) – ~3% of Portfolio
We continued to hold de minimus investments as a percent of portfolio in shares of Flotek and Recro Pharma in 2021, where both companiesin which we realized substantial returns on our initial investments in 2019 and 2020 but where our remaining positions experienced the dreaded “microcap roundtrip”. While we are keeping an eye on emerging theses for the companies, they are mostly still part of the portfolio for tax-loss management reasons. We anticipate these positions to be a source of cash in 2022 for new investments and to offset long term capital gains.”
Photo by Myriam Zilles on Unsplash
Our calculations show that Recro Pharma, Inc. (NASDAQ:REPH) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Recro Pharma, Inc. (NASDAQ:REPH) was in 15 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 17 funds in the previous quarter. Recro Pharma, Inc. (NASDAQ:REPH) delivered a 27.27% return in the past 3 months.
In September 2021, we also shared another hedge fund’s views on Recro Pharma, Inc. (NASDAQ:REPH) in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.
Disclosure: None. This article is originally published at Insider Monkey.
