Here’s What Caused the Volatility in Ascendis Pharma A/S (ASND)
TimesSquare Capital Management, an equity investment management company, released its “U.S. Small Cap Growth Strategy” second-quarter investor letter. A copy of the same can be downloaded here. In the second quarter, the strategy underperformed the Russell 2000 Growth Index and returned 2.50% (net), and the index return was 7.05%. Consumer Staples, Health Care, Industrials, and Information Technology showed relative weakness. However, Communication Services and Materials showed strength, partially offsetting the weakness. In addition, please check the fund’s top five holdings to know its best picks in 2023.
TimesSquare U.S. Small Cap Growth Strategy highlighted stocks like Ascendis Pharma A/S (NASDAQ:ASND) in the second quarter 2023 investor letter. Headquartered in Hellerup, Denmark, Ascendis Pharma A/S (NASDAQ:ASND) is a biopharmaceutical company. On September 21, 2023, Ascendis Pharma A/S (NASDAQ:ASND) stock closed at $95.44 per share. One-month return of Ascendis Pharma A/S (NASDAQ:ASND) was -3.51%, and its shares lost 5.18% of their value over the last 52 weeks. Ascendis Pharma A/S (NASDAQ:ASND) has a market capitalization of $5.375 billion.
TimesSquare U.S. Small Cap Growth Strategy made the following comment about Ascendis Pharma A/S (NASDAQ:ASND) in its Q2 2023 investor letter:
"In Health Care, Ascendis Pharma A/S (NASDAQ:ASND) develops treatments for rare indications in endocrinology and oncology. Their Skytrofa product has started to take a more meaningful share in the pediatric growth hormone market. However, the company’s stock has been volatile around regulatory updates related to TransCon PTH, which has been developed to treat hypoparathyroidism. The FDA indicated their concerns are related to the potential for over or under dosing. No issues were raised with respect to safety or efficacy. As such, there is no need for an additional clinical study. Nevertheless, Ascendis Pharma suffered an -18% decline."
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Ascendis Pharma A/S (NASDAQ:ASND) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 20 hedge fund portfolios held Ascendis Pharma A/S (NASDAQ:ASND) at the end of second quarter which was 26 in the previous quarter.
We discussed Ascendis Pharma A/S (NASDAQ:ASND) in another article and shared Artisan Global Discovery Fund’s views on the company. In addition, please check out our hedge fund investor letters Q2 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.
