Baron Funds, an investment management company, released its “Baron Health Care Fund” third quarter 2024 investor letter. A copy of the letter can be downloaded here. The fund appreciated 5.81%% (Institutional Shares) in the quarter compared to a 6.74% gain for the Russell 3000 Health Care Index (benchmark) and a 6.23% gain for the Russell 3000 Index (the Index). Since inception, the fund appreciated 13.02% on an annualized basis compared to an 11.47% gain for the benchmark and a 14.03% gain for the index. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Baron Health Care Fund highlighted stocks like ArArgenx SE (NASDAQ:ARGX) in the Q3 2024 investor letter. Argenx SE (NASDAQ:ARGX) is a biotechnology company focused on autoimmune diseases. The one-month return of Argenx SE (NASDAQ:ARGX) was 6.86%, and its shares gained 17.87% of their value over the last 52 weeks. On October 30, 2024, Argenx SE (NASDAQ:ARGX) stock closed at $551.71 per share with a market capitalization of $34.779 billion.
Baron Health Care Fund stated the following regarding Argenx SE (NASDAQ:ARGX) in its Q3 2024 investor letter:
“Argenx SE (NASDAQ:ARGX) is a biotechnology company focused on autoimmune disorders. Shares increased on positive sentiment around Vyvgart’s second commercial indication in rare nerve disorder chronic inflammatory demyelinating polyneuropathy, which was approved in late June and should be a strong launch into a large addressable market, in our opinion. Shares also benefited after competitor data from Amgen’s Uplinza failed to impress in myasthenia gravis, Vyvgart’s current core indication. Upcoming clinical catalysts should continue to drive long term growth, including readouts in myositis, Sjogren’s syndrome, multifocal motor neuropathy, and the subcutaneous formulation launch.”
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 31 Most Popular Stocks Among Hedge Funds. As per our database, 52 hedge fund portfolios held Argenx SE (NASDAQ:ARGX) at the end of the second quarter which was 42 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 Artisan Mid Cap Fund’s views on the company. In addition, please check out our hedge fund investor letters Q3 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.