Artisan Partners, an investment management company, released its “Artisan Small Cap Fund” first quarter 2024 investor letter. A copy of the letter can be downloaded here. Equity markets surged at the beginning of 2024 in anticipation of the US economy entering a “goldilocks” scenario – a soft landing combined with decreasing inflation, potentially leading to a cut in interest rates by the Fed. In the first quarter, its Investor Class fund ARTSX returned 9.43%, Advisor Class fund APDSX posted a return of 9.42%, and Institutional Class fund APHSX returned 9.48%, compared to a return of 7.58% for the Russell 2000 Growth Index. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Artisan Small Cap Fund highlighted stocks like Iovance Biotherapeutics, Inc. (NASDAQ:IOVA), in the first quarter 2024 investor letter. Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) is a commercial-stage biotechnology company with a market capitalization of $2.801 billion. The one-month return of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) was -16.79%, and its shares gained 32.58% of their value over the last 52 weeks. On May 24, 2024, Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) stock closed at $10.01 per share.
Artisan Small Cap Fund stated the following regarding Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in its first quarter 2024 investor letter:
“Among our top performers in Q1 were Shockwave, Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) and Wingstop. Iovance Biotherapeutics is a biotechnology company focused on innovating, developing and delivering novel polyclonal tumor infiltrating lymphocyte (TIL) cell therapies for cancer patients. Immuno-oncology remains a key area of drug development, and Iovance is the leader in TIL development and manufacturing, having secured the technology through collaborations with the leading academic institutions in TIL reseach. Shares rallied significantly after the company announced that the FDA approved AMTAGVI™ (lifileucel) for advanced melanoma. We added to the position.”
A medical staff in white coats monitoring the progress of cancer immunotherapy trials.
Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 34 hedge fund portfolios held Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) at the end of the first quarter which was 34 in the previous quarter. Iovance Biotherapeutics, Inc’s. (NASDAQ:IOVA) revenue for the first quarter was $715,000.
In another article, we discussed Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) and shared the list of best healthcare stocks to buy under $20. In addition, please check out our hedge fund investor letters Q1 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.
