Baron Funds, an investment management company, released its “Baron Health Care Fund” fourth quarter 2024 investor letter. The Fund performed roughly in line with the Benchmark, during a challenging quarter for the larger health care industry. A copy of the letter can be downloaded here. The fund declined 9.58% (Institutional Shares) in the quarter compared to a 9.75% decline for the Russell 3000 Health Care Index (benchmark) and a 2.63% gain for the Russell 3000 Index (the Index). For the full year 2024, the fund appreciated 1.55% compared to 3.48% and 23.81% gains for the indexes. In addition, please check the fund’s top five holdings to know its best picks in 2024.
In its fourth quarter 2024 investor letter, Baron Health Care Fund emphasized stocks such as Argenx SE (NASDAQ:ARGX). Argenx SE (NASDAQ:ARGX) is a biotechnology company focuses on developing therapies for the treatment of autoimmune diseases. The one-month return of Argenx SE (NASDAQ:ARGX) was -0.13%, and its shares gained 59.77% of their value over the last 52 weeks. On February 18, 2025, Argenx SE (NASDAQ:ARGX) stock closed at $639.00 per share with a market capitalization of $38.81 billion.
Baron Health Care Fund stated the following regarding Argenx SE (NASDAQ:ARGX) in its Q4 2024 investor letter:
“Argenx SE (NASDAQ:ARGX) is a biotechnology company best known for developing Vyvgart, the leading FcRn inhibitor for the treatment of autoimmune conditions. Shares increased as Vyvgart continued its launch in generalized myasthenia gravis and got off to a strong start in chronic inflammatory demyelinating polyneuropathy. In addition, argenx recently announced that Vyvgart appears to be efficacious in three subsets of myositis (a group of rare autoimmune conditions that cause muscle inflammation) in a Phase 2 clinical trial and moved the drug into Phase 3. Over time, we expect Vyvgart to demonstrate efficacy in an ever-expanding range of autoantibody-driven autoimmune conditions. We expect Vyvgart to continue to launch well in its existing indications and the addressable market to expand as the drug is developed in additional indications.”
A lab setting filled with scientific equipment and researchers in lab coats working together to develop new therapies for autoimmune diseases.
Argenx SE (NASDAQ:ARGX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 43 hedge fund portfolios held Argenx SE (NASDAQ:ARGX) at the end of the third quarter which was 52 in the previous quarter. While we acknowledge the potential of Argenx SE (NASDAQ:ARGX) 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 another article we discussed Argenx SE (NASDAQ:ARGX) and shared the list of high growth international stocks to invest in. In addition, please check out our hedge fund investor letters Q4 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.