Alger Capital, an investment management company, released its “Alger Spectra Fund” third quarter investor letter. A copy of the same can be downloaded here. In the third quarter, Class A shares of the fund outperformed the Russell 3000 Growth Index. In the quarter, the portfolio’s largest sector overweight was Health Care, and the largest sector underweight was Information Technology. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Alger Capital discussed stocks like Natera, Inc. (NASDAQ:NTRA) in its Q3 2022 investor letter. Headquartered in Austin, Texas, Natera, Inc. (NASDAQ:NTRA) is a diagnostics company. On November 2, 2022, Natera, Inc. (NASDAQ:NTRA) stock closed at $45.45 per share. One-month return of Natera, Inc. (NASDAQ:NTRA) was -3.36% and its shares lost 58.93% of their value over the last 52 weeks. Natera, Inc. (NASDAQ:NTRA) has a market capitalization of $4.407 billion.
Alger Capital made the following comment about Natera, Inc. (NASDAQ:NTRA) in its Q3 2022 investor letter:
“Natera, Inc. (NASDAQ:NTRA) is a specialty lab providing genetic testing services in the reproductive health, oncology and transplant markets. Non-invasive prenatal testing (NIPT), part of the company’s reproductive health franchise, has historically generated most of the corporate revenue. However, we believe Natera’s oncology business may represent a larger share of revenue in the future, as we are seeing customers adopt these tests due to positive insurance reimbursement decisions and favorable clinical trial results.
Natera’s third-quarter share price outperformance was primarily driven by better-than-expected second-quarter results. In addition, management announced positive business updates. The company continues to execute well on its growth initiatives and is capturing market share relative to its key competitors. moreover, Natera announced that it will join a national diagnostic laboratory’s preferred lab network. Which helped address alleged concerns over its billing practices that were publicized earlier this year in a short seller’s report.”
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Natera, Inc. (NASDAQ:NTRA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 39 hedge fund portfolios held Natera, Inc. (NASDAQ:NTRA) at the end of the second quarter which was 45 in the previous quarter.
We discussed Natera, Inc. (NASDAQ:NTRA) in another article and shared the biggest genomics companies in the world. 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.