Miller Value Partners recently released its Q3 2020 Investor Letter, a copy of which you can download here. The Opportunity Equity Fund posted a return of 13.01% for the quarter (net of fees), outperforming its benchmark, the S&P 500 Index which returned 8.93% 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 said letter, Miller Value Partners highlighted a few stocks and Precigen Inc. (NASDAQ:PGEN) is one of them. Precigen Inc. (NASDAQ:PGEN) is a biotechnology company. Year-to-date, Precigen Inc. (NASDAQ:PGEN) stock lost 21.7% and on October 30th it had a closing price of $4.29. Here is what Miller Value Partners said:
“Precigen (PGEN) fell 29.9%% over the period. The company reported 2Q20 results in-line consensus. The company ended the quarter with $133M in cash, which is expected to fund operations in late 2021. Precigen announced an important advancement in its Ultra CAR-T platform with its UltraPorator technology. UltraPorator consists of proprietary hardware, software, and consumables for a self-contained system for non-viral genetic modification of a patient’s T-cells. This technology has been cleared by the FDA for use in current UltraCAR trials and is being technology transferred to clinical sites. The company also announced that they have begun dosing a Phase I/II trial of their potential immunotherapy treatment to treat solid tumors deriving from Human Papillomavirus (HPV). The therapy is designed to activate the patients’ immune system to combat cancerous tumors.”
In Q1 2020, the number of bullish hedge fund positions on Precigen Inc. (NASDAQ:PGEN) stock increased by about 30% from the previous quarter (see the chart here), so a number of other hedge fund managers believe in Precigen’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 185% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 109 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. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
Video: Top 5 Stocks Among Hedge Funds
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