Aristotle Atlantic Partners, LLC, an investment advisor, released its “Large Cap Growth Strategy” third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, Aristotle Atlantic’s Large Cap Growth Strategy delivered -5.34% gross of fees (-5.51% net of fees) underperforming the Russell 1000 Growth Index’s return of -3.13%. Security selection and allocation effects led the portfolio to underperform in the quarter. Holdings in Health Care, Industrials, and Financials detracted from the relative performance of the quarter. Information Technology and Real Estate, as well as overweight exposure to healthcare, contributed to relative returns in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Aristotle Large Cap Growth Strategy highlighted stocks like Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in the third quarter 2023 investor letter. Headquartered in San Carlos, California, Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) is a clinical-stage biotechnology company. On October 23, 2023, Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) stock closed at $3.4500 per share. One-month return of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) was -22.30%, and its shares lost 64.43% of their value over the last 52 weeks. Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has a market capitalization of $854.831 million.
Aristotle Large Cap Growth Strategy made the following comment about Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in its Q3 2023 investor letter:
“We sold Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) following uncertainty which arose from the company canceling out of two investor events. Iovance is in the late stages of FDA review on their lead candidate Lifileucel in advanced melanoma. These cancellations could stem from issues with site inspections which tend to take place later in the review cycle. The company has not commented on why it canceled these investor events, and we do not think this bodes well for the prospects of a straightforward approval with a clean, positive label for the company.”
A biotechnology laboratory with several scientists in white coats studying a microscope. Editorial photo for a financial news article. 8k. –ar 16:9
Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 33 hedge fund portfolios held Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) at the end of second quarter which was 40 in the previous quarter.
We discussed Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in another article and shared the list of best high risk high reward stocks to buy. 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.
