TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” third-quarter investor letter. A copy of the letter can be downloaded here. Within equities, smaller or value-oriented stocks in developed economies yielded higher, whereas emerging markets saw the opposite trend. In the third quarter, the strategy returned 4.96% (gross) and 4.75% (net) while the Russell Midcap Growth Index returned 6.54%. In addition, please check the fund’s top five holdings to know its best picks in 2024.
TimesSquare Capital U.S. Mid Cap Growth Strategy highlighted stocks like Repligen Corporation (NASDAQ:RGEN) in the second quarter 2024 investor letter. Repligen Corporation (NASDAQ:RGEN) develops and distributes bioprocessing technologies and systems. The one-month return of Repligen Corporation (NASDAQ:RGEN) was 6.95%, and its shares lost 7.18% of their value over the last 52 weeks. On December 6, 2024, Repligen Corporation (NASDAQ:RGEN) stock closed at $149.20 per share with a market capitalization of $8.36 billion.
TimesSquare Capital U.S. Mid Cap Growth Strategy stated the following regarding Repligen Corporation (NASDAQ:RGEN) in its Q3 2024 investor letter:
“Our preferences among Health Care stocks are those companies providing novel therapies for unmet needs that deserve premium pricing, or specialized service providers. Repligen Corporation (NASDAQ:RGEN) develops and commercializes bioprocessing technologies and systems for use in the biological drug manufacturing process. The company’s stock rallied 18% during the quarter, aided by inline second quarter results, with a pickup in pharmaceutical orders as well as improving contract development and manufacturing demand.”
A technician in a lab inspecting an ELISA test kit for use in biopharmaceutical diagnostics.
Repligen Corporation (NASDAQ:RGEN) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 34 hedge fund portfolios held Repligen Corporation (NASDAQ:RGEN) at the end of the third quarter which was 37 in the previous quarter. In the third quarter, Repligen Corporation (NASDAQ:RGEN) reported $155 million in revenues, up 10% from Q3 2023. While we acknowledge the potential of Repligen Corporation (NASDAQ:RGEN) 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 Repligen Corporation (NASDAQ:RGEN) and shared Columbia Acorn 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.