Artisan Partners, an investment management company, released its “Artisan Small Cap Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, its Investor Class fund ARTSX returned -7.98%, Advisor Class fund APDSX posted a return of -7.96%, and Institutional Class fund APHSX returned -7.97%, compared to a return of -7.32% for the Russell 2000 Growth Index. From a sector perspective, allocation impacts drove the sector’s underperformance, while security selection was positive. From an allocation perspective, the portfolio was hurt by its lack of exposure to energy and overweight exposure to health care. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Artisan Small Cap Fund highlighted stocks like Argenx SE (NASDAQ:ARGX) in the third quarter 2023 investor letter. Headquartered in Amsterdam, the Netherlands, Argenx SE (NASDAQ:ARGX) is a biotechnology company. On November 30, 2023, Argenx SE (NASDAQ:ARGX) stock closed at $450.61 per share. One-month return of Argenx SE (NASDAQ:ARGX) was -9.87%, and its shares gained 12.01% of their value over the last 52 weeks. Argenx SE (NASDAQ:ARGX) has a market capitalization of $26.621 billion.
Artisan Small Cap Fund made the following comment about Argenx SE (NASDAQ:ARGX) in its Q3 2023 investor letter:
“Among our top contributors were Argenx SE (NASDAQ:ARGX), Guidewire Software and MACOM Technology Solutions. Argenx is a commercial stage biotechnology company with an approved first-in-class, and potentially best-in-class, therapy (Vyvgart) for autoimmune diseases. Shares rallied in the quarter based on several catalysts that are expected to further accelerate an already successful launch of Vyvgart in myasthenia gravis, a neuromuscular disease. First, the FDA approved the subcutaneous injection version of the treatment, Vyvgart Hytrulo. And second, the company reported positive trial results for the treatment of CIDP (chronic inflammatory demyelinating polyneuropathy), unlocking another major indication for Vyvgart. We see additional progress ahead with the drug being studied in 11 other indications, a number of which will generate clinical trial data in the next year. Argenx is also growing its drug pipeline beyond Vyvgart with promising signs from another antibody, ARGX-117, that has the potential to reduce tissue inflammation and the adaptive immune response.”
A scientist examining a vial of drugs in a lab, representing the biotechnology company’s research.
Argenx SE (NASDAQ:ARGX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 48 hedge fund portfolios held Argenx SE (NASDAQ:ARGX) at the end of third quarter which was 47 in the previous quarter.
We discussed Argenx SE (NASDAQ:ARGX) in another article and shared Baron Health Care Fund’ views on the company. 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.