Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” second quarter 2024 investor letter. A copy of the letter can be downloaded here. Having carried over some of the strength from the previous year into the first quarter, mid-cap stocks reversed course and ended the second quarter at a loss. The Russell Midcap Growth Index (down 3.21%) slightly outperformed the Russell Midcap Value Index (down 3.40%) in the quarter. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.
Carillon Eagle Mid Cap Growth Fund highlighted stocks like Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) in the second quarter 2024 investor letter. Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) is a biopharmaceutical company. The one-month return of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) was 19.83%, and its shares gained 48.25% of their value over the last three months. On August 20, 2024, Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) stock closed at $280.76 per share with a market capitalization of $36.04 billion.
Carillon Eagle Mid Cap Growth Fund stated the following regarding Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) in its Q2 2024 investor letter:
“Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) develops gene-silencing technologies to address significant unmet medical needs. The company’s main growth product, Vitrusiran, is currently approved for patients who have the polyneuropathy manifestation of transthyretin (TTR) amyloidosis. The company recently unveiled positive phase 3 results for its HELIOS B trial that tested Vitrusiran in TTR patients with the cardiomyopathy manifestation of the disease. The stock traded higher during the quarter as this readout is believed to increase the potential market for the drug dramatically.”
A researcher studying genetic medicines under a microscope in a biopharmaceutical laboratory.
Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 53 hedge fund portfolios held Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) at the end of the second quarter which was 46 in the previous quarter. Alnylam Pharmaceuticals, Inc.’s (NASDAQ:ALNY) total product revenue for the second quarter climbed by 34% to $410 million compared to Q2 2023. While we acknowledge the potential of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In addition, please check out our hedge fund investor letters Q2 2024 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.
