Polen Capital, an investment management company, released its “Polen U.S. SMID Company Growth Strategy” second-quarter 2024 investor letter. A copy of the same can be downloaded here. The portfolio returned -8.42% gross and -8.71% net of fees in the second quarter compared to a -4.22% return for the Russell 2500 Growth Index. In the second quarter, there was a shift from lower-quality, high-priced stocks to a more cautious approach due to concerns about high inflation. This led to a widening performance gap between small and mid-sized and large company stocks, as investors turned to lower-volatility sectors. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Polen U.S. SMID Company 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. On July 29, 2024, Repligen Corporation (NASDAQ:RGEN) stock closed at $138.00 per share. One-month return of Repligen Corporation (NASDAQ:RGEN) was 14.87%, and its shares lost 17.42% of their value over the last 52 weeks. Repligen Corporation (NASDAQ:RGEN) has a market capitalization of $7.711 billion.
Polen U.S. SMID Company Growth Strategy stated the following regarding Repligen Corporation (NASDAQ:RGEN) in its Q2 2024 investor letter:
“Repligen Corporation (NASDAQ:RGEN) is a leading provider of bioprocessing technologies that support the discovery, development, and manufacturing of biologic drugs. Over the past decade, Repligen has strategically acquired key assets across the complex bioprocessing workflow in filtration and process analytics. These assets enable their customers, biopharma, and contract development manufacturing organizations (“CDMO”) to innovate and advance new therapeutics across various diseases. The last two years have brought its undue share of challenges for Repligen and the bioprocessing industry more broadly as pandemic-related sales declined materially. This led to an opportunity to invest in this uniquely-positioned business that we believe can leverage its technical leadership and attractive market position to gain additional share within the bioprocessing market, which we estimate at $12 billion globally.”
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, 32 hedge fund portfolios held Repligen Corporation (NASDAQ:RGEN) at the end of the first quarter which was 31 in the previous quarter. Repligen Corporation (NASDAQ:RGEN) had a strong first quarter, with $151 million in revenues. 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 the list of most profitable stocks of the last 20 years. In addition, please check out our hedge fund investor letters Q2 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.
