Should You Remain Confident in Halozyme Therapeutics (HALO)?
Artisan Partners, an investment management company, released its “Artisan Small Cap Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, its Investor Class fund ARTSX returned 1.10%, Advisor Class fund APDSX posted a return of 1.19%, and Institutional Class fund APHSX returned 1.19%, compared to a return of 7.05% for the Russell 2000 Growth Index. Year-to-date, ARTSX, APDSX, and APHSX returned 8.78 %, 8.91%, and 8.91%, respectively, compared to a 13.55% return for the benchmark. Despite this year's relative setback, the firm remains bullish on its asset class's long-term prospects. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Artisan Small Cap Fund highlighted stocks like Halozyme Therapeutics, Inc. (NASDAQ:HALO) in the second quarter 2023 investor letter. Based in San Diego, California, Halozyme Therapeutics, Inc. (NASDAQ:HALO) is a biopharma technology company. On August 29, 2023, Halozyme Therapeutics, Inc. (NASDAQ:HALO) stock closed at $43.10 per share. One-month return of Halozyme Therapeutics, Inc. (NASDAQ:HALO) was 0.58%, and its shares gained 5.82% of their value over the last 52 weeks. Halozyme Therapeutics, Inc. (NASDAQ:HALO) has a market capitalization of $5.686 billion.
Artisan Small Cap Fund made the following comment about Halozyme Therapeutics, Inc. (NASDAQ:HALO) in its second quarter 2023 investor letter:
"Halozyme Therapeutics, Inc. (NASDAQ:HALO) is a biotechnology firm with a unique technology platform that allows for the conversion of biologics and small molecule drugs administered intravenously into a subcutaneous formulation. This technology is licensed to pharmaceutical companies, which allows them to optimize their valuable therapies and Halozyme to generate predictable and durable royalties. In Q2, partner Johnson and Johnson announced the denial of a co-formulation patent for subcutaneous Darzalex in Europe. While this unfavorable news continued to impact Halozyme’s share price, we anticipate several value-generating catalysts in the second half. The first catalyst is FDA approval of Argenx's VYVGART Hytrulo. This approval also benefits Halozyme as it is the subcutaneous enabler. The approval is due shortly after the quarter ends. We also expect clinical data for three more indications by year end, which will further expand the commercial opportunities for VYVGART and VYVGART Hytrulo. In addition, we are excited about the potential partnership opportunity with Argenx to develop Halozyme's autoinjector. VYVGART's potential as a multibillion-dollar drug, coupled with the dependence on Halozyme's subcutaneous formulation platform and autoinjector pens, presents an important growth opportunity for Halozyme."
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Halozyme Therapeutics, Inc. (NASDAQ:HALO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 25 hedge fund portfolios held Halozyme Therapeutics, Inc. (NASDAQ:HALO) at the end of second quarter which was 29 in the previous quarter.
We discussed Halozyme Therapeutics, Inc. (NASDAQ:HALO) in another article and shared worst performing biotech stocks in 2023. 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.
