This Fund Bought Moderna Before It Nearly Tripled. See Its 2 New Stock Picks

Bamco, the advisory arm of Ron Baron’s Baron Capital Group, opened a new position in Moderna (NASDAQ:MRNA) during the second quarter of 2026. The fund bought about 2 million shares of the firm in the June quarter. The timing worked out. In August, Moderna shares nearly tripled on a positive Phase 3 report.

Bamco also opened new stakes in home and security products company Fortune Brands Innovations (NYSE:FBIN) and eyecare pharma company Harrow (NASDAQ:HROW). It bought 1.2 million shares of Fortune Brands Innovations worth about $63.6 million, and about 809,000 shares of Harrow worth about $34.4 million.

HROW is down about 26% so far this year, and we will analyze the stock in this article.

Harrow’s VEVYE treats dry eye disease. IHEEZO is a chloroprocaine gel used as an ocular anesthetic. TRIESENCE is a steroid injection used in retina and ocular surgery. In the second quarter of fiscal 2026, revenue rose 11% year over year and about 60% sequentially. VEVYE revenue rose nearly 58% year over year to a record.

IHEEZO is the bigger swing factor for the second half. The product lost pass-through reimbursement on April 1, and management said the ambulatory surgery center market is effectively shut as a result. Harrow redirected the sales effort into doctors’ offices instead, and unit demand still hit a record, up 44% from the prior quarter. The company added 62 first-time ordering accounts, its strongest new account quarter since launch, and the trailing 12-month reorder rate is about 85.5%. Net pricing improved roughly 25% starting July 1, and gross margins on the product run above 90%.

Catalysts

Harrow is developing G-MELT, a dissolving tablet meant to sedate patients without an IV or opioids. It has a pre-NDA meeting with the FDA scheduled for early in the fourth quarter and plans to submit its NDA in the first half of 2027, with approval targeted in the first half of 2028 and a launch later that year.

READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy. 

Follow Insider Monkey on Google News.