Is Repligen Corporation (RGEN) a Best-In-Class Stock in Terms of Growth and Profitability?
Baron Funds, an investment management company, released its “Baron Asset Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. The fund appreciated 5.34% in the first quarter, trailing the Russell Midcap Growth Index, which returned 9.14%. Stock selection drove the fund to underperform in the quarter. IT, Communication Services, and Consumer Discretionary were the strongest performing sectors, while Energy and Financials were the principal laggards. Furthermore, defensive-oriented sectors, Health Care, Utilities, and Consumer Staples also struggled in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Baron Asset Fund highlighted stocks like Repligen Corporation (NASDAQ:RGEN) in the first quarter 2023 investor letter. Headquartered in Waltham, Massachusetts, Repligen Corporation (NASDAQ:RGEN) develops and distributes bioprocessing technologies and systems. On May 1, 2023, Repligen Corporation (NASDAQ:RGEN) stock closed at $153.54 per share. One-month return of Repligen Corporation (NASDAQ:RGEN) was -5.72%, and its shares lost 4.92% of their value over the last 52 weeks. Repligen Corporation (NASDAQ:RGEN) has a market capitalization of $8.544 billion.
Baron Asset Fund made the following comment about Repligen Corporation (NASDAQ:RGEN) in its Q1 2023 investor letter:
"We also initiated a position in Repligen Corporation (NASDAQ:RGEN), a life science tools supplier to the bioprocessing industry. The company offers a broad portfolio of tools involved in the production of biologic drugs, including upstream cell culture, downstream chromatography and filtration, and process analytics.
Repligen operates in attractive, fast-growing end markets, historically targeting monoclonal antibodies (10% to 12% market growth) and is currently expanding its presence into cell and gene therapies (over 25% market growth). The company has a demonstrated track record of smart acquisitions and scientific innovation, including the introduction of differentiated filters and the development of in-line process analytics, which enables real-time monitoring of the drug production process.…” (Click here to read the full text)
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Repligen Corporation (NASDAQ:RGEN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 29 hedge fund portfolios held Repligen Corporation (NASDAQ:RGEN) at the end of the fourth quarter which was 34 in the previous quarter.
We discussed Repligen Corporation (NASDAQ:RGEN) in another article and shared Conestoga Capital Advisors' views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q1 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.
