Fred Alger Management, an investment management company, released its “Alger Small Cap Growth Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund outperformed the Russell 2000 Growth Index. The Information Technology and Healthcare sectors contributed to the fund’s relative performance in the quarter, while Consumer Discretionary and Communications services detracted from performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Alger Small Cap Growth Fund highlighted stocks like Bio-Techne Corporation (NASDAQ:TECH) in the third quarter 2023 investor letter. Headquartered in Minneapolis, Minnesota, Bio-Techne Corporation (NASDAQ:TECH) is a developer and manufacturer of regent solutions, instruments, and services for research and clinical diagnostic markets. On November 30, 2023, Bio-Techne Corporation (NASDAQ:TECH) stock closed at $62.90 per share. One-month return of Bio-Techne Corporation (NASDAQ:TECH) was 13.52%, and its shares lost 27.21% of their value over the last 52 weeks. Bio-Techne Corporation (NASDAQ:TECH) has a market capitalization of $9.948 billion.
Alger Small Cap Growth Fund made the following comment about Bio-Techne Corporation (NASDAQ:TECH) in its Q3 2023 investor letter:
“Bio-Techne Corporation (NASDAQ:TECH) is a leading developer and provider of key life science reagents (e.g., proteins), analytical instruments. and services that are primarily sold to the biopharmaceutical, academic/government research, and clinical end markets. Bio- Techne products enable the development and production of drugs, cutting edge scientific research, and novel diagnostics techniques. The company is best known for its market leading portfolio of high-quality proteins: During the period, shares detracted from performance as growth in pharmaceuticals and biotechnology. the company’s largest end markets remained under pressure due to several macroeconomic headwinds. including limited biotechnology funding, weakening China demand, and a generally more conservative spending environment. Despite the challenging macroeconomic backdrop in the near-term, we believe the company remains well positioned over the long-term given its portfolio of high-quality products.”
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Bio-Techne Corporation (NASDAQ:TECH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 25 hedge fund portfolios held Bio-Techne Corporation (NASDAQ:TECH) at the end of third quarter which was 29 in the previous quarter.
We discussed Bio-Techne Corporation (NASDAQ:TECH) in another article and shared Baron Health Care Fund’s views on the company. In addition, please check out our hedge fund investor letters Q3 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.
