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Artisan Mid Cap Fund Trimmed Repligen Corporation (RGEN) after Share Appreciation

Artisan Partners, an investment management company, released its “Artisan Mid Cap Fund” first quarter 2024 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund’s Investor Class fund ARTMX returned 10.41%, Advisor Class fund APDMX posted a return of 10.40%, and Institutional Class fund APHMX returned 10.44%, compared to a 9.50% return for the Russell Midcap Growth Index. Balanced security selection across health care, industrials, consumer staples, consumer discretionary, and communication services led the portfolio to outperform the index in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2024.

Artisan Mid Cap Fund featured stocks like Repligen Corporation (NASDAQ:RGEN) in the first quarter 2024 investor letter. Headquartered in Waltham, Massachusetts, Repligen Corporation (NASDAQ:RGEN) develops and distributes bioprocessing technologies and systems. On April 11, 2024, Repligen Corporation (NASDAQ:RGEN) stock closed at $176.08 per share. One-month return of Repligen Corporation (NASDAQ:RGEN) was -8.99%, and its shares lost 0.68% of their value over the last 52 weeks. Repligen Corporation (NASDAQ:RGEN) has a market capitalization of $9.652 billion.

Artisan Mid Cap Fund stated the following regarding Repligen Corporation (NASDAQ:RGEN) in its first quarter 2024 investor letter:

"Notable trims in the quarter included Repligen Corporation (NASDAQ:RGEN) and Pool Corp. Repligen is a leading supplier of equipment, consumables and services for biologic manufacturing needs. The company was a critical supplier of COVID-19 vaccines and has been grappling with a difficult environment after the boom/bust vaccine cycle. Shares have rallied as recent customer order trends show signs of improvement. We expect the company to return to healthy growth as its business benefits from several emerging, longer term trends within biologics—notably, the rise of cell and gene therapies. However, after the recent rally, we trimmed the position based on our valuation discipline."

A technician in a lab inspecting an ELISA test kit for use in biopharmaceutical diagnostics.

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Repligen Corporation (NASDAQ:RGEN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Repligen Corporation (NASDAQ:RGEN) was held by 31 hedge fund portfolios, compared to 24 in the previous quarter, according to our database.

We previously discussed Repligen Corporation (NASDAQ:RGEN) in another article, where we shared TimesSquare Capital U.S. Mid Cap Growth Strategy's views on the company. In addition, please check out our hedge fund investor letters Q1 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.