Bronte Capital, an investment management company, released its “Amalthea Fund” third-quarter 2023 investor letter. A copy of the same can be downloaded here. The fund gained 9.96% last quarter (-0.44% in September) compared to 0.02% (-3.70% in September) for the MSCI ACWI (in $A). In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Bronte Capital Amalthea Fund highlighted stocks like Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) in the third quarter 2023 investor letter. Headquartered in Tarrytown, New York, Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) is a biotechnology company. On November 7, 2023, Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) stock closed at $830.79 per share. One-month return of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) was -0.50%, and its shares gained 10.48% of their value over the last 52 weeks. Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) has a market capitalization of $90.512 billion.
Bronte Capital Amalthea Fund made the following comment about Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) in its Q3 2023 investor letter:
“In the last quarterly letter, we discussed the problems in our long book. These were:
a) companies that sell technical products to improve the conversion of grain into meat (such as animal genetics and feed additives), and
b) Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN), which had received a “Complete Response Letter” (an FDA rejection) for their new longer-lasting wet age-related macular degeneration drug.
The first of these problems has persisted. Grain prices remain high relative to meat prices and the stocks in question have followed their quality European peers down. The two losers in this sector are Genus and DSM-Firmenich…” (Click here to read the full text)
An executive standing in a modern biotechnology laboratory with beakers, tubes, and vials.
Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 56 hedge fund portfolios held Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) at the end of second quarter which was 54 in the previous quarter.
We discussed Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) in another article and shared the list of cheap biotechnology stocks that smart investors are piling into. In addition, please check out our hedge fund investor letters Q3 2023 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.
