Patient Capital Management, a value investing firm, released its “Patient Capital Opportunity Equity Strategy” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. During the quarter, the strategy returned 8.2% net of fees compared to the S&P 500’s 2.4% return. According to a three-factor performance attribution model, allocation and selection effects contributed positively to the portfolio’s outperformance which was partially offset by interaction effects. For similar reasons, the fourth quarter of 2024 resembled the fourth quarter of 2023. 2023 benefitted from soft landing optimism, as did 2024 which was triggered by Donald Trump’s election as the next president and a belief that fewer regulation and growth-oriented policies would be implemented. In addition, you can check the fund’s top 5 holdings to know its best picks in 2024.
Patient Capital Management highlighted stocks like Precigen, Inc. (NASDAQ:PGEN) in the fourth quarter 2024 investor letter. Precigen, Inc. (NASDAQ:PGEN) is a discovery and clinical-stage biopharmaceutical company. The one-month return of Precigen, Inc. (NASDAQ:PGEN) was 55.69%, and its shares lost 6.61% of their value over the last 52 weeks. On January 15, 2025, Precigen, Inc. (NASDAQ:PGEN) stock closed at $1.13 per share with a market capitalization of $330.942 million.
Patient Capital Management stated the following regarding Precigen, Inc. (NASDAQ:PGEN) in its Q4 2024 investor letter:
“This quarter we entered three new positions, while exiting four positions. We participated in a PIPE (private investment in public entity) deal with Precigen, Inc. (NASDAQ:PGEN) at the end of the fourth quarter resulting in new positions in a perpetual convertible preferred as well as warrants. Precigen is an early-stage biopharmaceutical company focused on next generation cell and gene therapies. The company’s PRGN-2012 program in recurrent respiratory papillomatosis (RRP) has the potential to be the first-in-class “off-the-shelf” immunotherapy in a patient population with limited options. The company submitted their biologics license application (BLA) for PRGN-2012 on December 30th with a request for a priority review setting the clock for a decision by mid-2025. The additional capital raise is expected to fund the company’s operations well into 2026 and help fund the launch of this all-important drug in an orphan designation. The company is run by Dr. Helen Sabzevari, who has extensive expertise in research and development of immunotherapy-based therapeutics, having founded and served as Chief Scientific Officer of Compass Therapeutics. She has driven amazing clinical progress at PGEN over the past few years and we believe that PRGN-2012 is well positioned to be a best-in-class therapeutic for RRP.”
A technician holding a petri dish containing a DNA construction technology.
Precigen, Inc. (NASDAQ:PGEN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 13 hedge fund portfolios held Precigen, Inc. (NASDAQ:PGEN) at the end of the third quarter which was 11 in the previous quarter. While we acknowledge the potential of Precigen, Inc. (NASDAQ:PGEN) 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 Precigen, Inc. (NASDAQ:PGEN) and shared Patient Capital Management’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q4 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.