Fred Alger Management, an investment management company, released its “Alger Weatherbie Specialized Growth Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. US markets rallied strongly in Q4, with the S&P Index up 11.69%. However, Class A shares of the fund underperformed the Russell 2500 Growth Index. Healthcare and IT boosted the relative performance while financials and consumer discretionary weighed down. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Alger Weatherbie Specialized Growth Fund featured stocks like Natera, Inc. (NASDAQ:NTRA) in the Q4 2023 investor letter. Headquartered in Austin, Texas, Natera, Inc. (NASDAQ:NTRA) is a diagnostics company. On February 26, 2024, Natera, Inc. (NASDAQ:NTRA) stock closed at $74.19 per share. One-month return of Natera, Inc. (NASDAQ:NTRA) was 12.41%, and its shares gained 52.81% of their value over the last 52 weeks. Natera, Inc. (NASDAQ:NTRA) has a market capitalization of $8.914 billion.
Alger Weatherbie Specialized Growth Fund stated the following regarding Natera, Inc. (NASDAQ:NTRA) in its fourth quarter 2023 investor letter:
“Natera, Inc. (NASDAQ:NTRA) is a specialty lab providing genetic testing services in the reproductive health, oncology and transplant markets. Reproductive health tests are run to screen for common genetic disorders such as trisomy 13, 18. and 21 in pregnant women these tests are also known as non-invasive prenatal testing (NIPT) The company’s oncology franchise is led by Signatera, a test used to detect minimal residual disease (MRD) the applications of this test are primarily to monitor therapy response and detect cancer recurrence Lastly Natera s transplant franchise is led by Prospera, a test used to monitor transplant organ rejection, Natera stests are all based on the company s proprietary liquid biopsy platform to detect cell-free DNA. During the quarter, shares contributed to performance primarily driven by strong fiscal third quarter results. Specifically. better-than-expected fiscal third quarter revenue, Signatera test volume, and gross margins all came in above analyst estimates, which led to management increasing their fiscal full year guidance.”
A laboratory environment with technicians in lab coats conducting molecular testing services.
Natera, Inc. (NASDAQ:NTRA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Natera, Inc. (NASDAQ:NTRA) was held by 50 hedge fund portfolios, up from 49 in the previous quarter, according to our database.
We discussed Natera, Inc. (NASDAQ:NTRA) in another article and shared the list of stocks whose price targets were recently raised by analysts. In addition, please check out our hedge fund investor letters Q4 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.
