Is Regeneron Pharmaceuticals (REGN) an Attractive Long-Term Stock?

Bronte Capital, an investment management company, released its “Amalthea Fund” third-quarter 2022 investor letter. A copy of the same can be downloaded here. The fund lost 0.32% in the third quarter compared to a 0.17% gain for the MSCI ACWI (in $A). For September, the fund gained 6.68% compared to a 3.58% loss for the MSCI ACWI (in $A). In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

In the third quarter 2022 investor letter, Bronte Capital highlighted stocks like Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN). Headquartered in Tarrytown, New York, Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) is a biotechnology company. On October 25, 2022, Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) stock closed at $747.33 per share. One-month return of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) was 7.53% and its shares gained 26.21% of their value over the last 52 weeks. Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) has a market capitalization of $80.355 billion.

Bronte Capital made the following comment about Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) in its Q3 2022 investor letter:

“There have been some bright spots in our long book. Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN), a major position and a stock we wrote up in our June 2021 letter, has been one of the best performing stocks in the S&P 500 this year. Alas it has not been enough to offset some of our weaker stocks, let alone our overweight exposure to the UK (and Europe) which have suffered from both stock and currency weakness. We do not think we are bad at picking stocks on the long side and hope – reasonably we think – for better relative results in the future. Prior to COVID, our longs were markedly better than the index. Unfortunately, if you look at our long book this quarter and since the onset of the COVID pandemic, there is scant evidence that we have added any value by picking stocks to go long.”

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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 RGA Investment Advisors’ views on the company. 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.