Meridian Funds, managed by ArrowMark Partners, published its Q4 2022 Meridian Development Fund investor letter. A copy of the similar can be downloaded right here. In the fourth quarter, the fund returned four.69% (net), compared with a return of four.72% for the Russell 2500 Development Index. Good aspects for the duration of the quarter helped fund functionality. The emphasis on high-quality has been valuable for the fund in the higher market place. Moreover, you can verify the fund’s prime five funds to know its prime picks in 2022.
Meridian Development Fund highlighted stocks like Sineos Wellness, Inc. (NASDAK:SINH) in its Q4 2022 investor letter. Primarily based in Morrisville, North Carolina, Sineos Wellness, Inc. (NASDAQ: SINH) is a biopharmaceutical organization. Shares of Sineos Wellness, Inc. (NASDAQ:SINH) closed at $34.34 per share on March 16, 2023. One particular-month return of Sineos Wellness, Inc. (NASDAQ:SINH) was -12.98%, and its stock has lost 57.06% of its worth more than the previous 52 weeks. Sineos Wellness, Inc. (NASDAQ:SINH) has a market place capitalization of $three.545 billion.
Meridian Development Fund created the following comment on Sineos Wellness, Inc. (NASDAQ:SINH) in its Q4 2022 investor letter:
“Sineos Wellness, Inc. (NASDAQ: SINH), is a clinical study organization that partners with little and medium-sized biotech firms, as effectively as significant pharmaceutical organizations, to total clinical trials. It was 1 of the major players in the market place, but a alter in CEO final spring appears to have led to larger than typical turnover, resulting in a loss of market place share. In addition, the general life science atmosphere has softened amid a decline in biotech funding and a shift in priorities in pipelines and R&D efforts amongst major pharmaceutical organizations. Due to the fact its enterprise model relies on a wholesome backlog, Sineos’ ongoing concerns seem to set up a difficult 2023 from a basic standpoint, so we exited the position.”
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Sineos Wellness, Inc. (NASDAQ:SINH) is not on our list of the 30 most well-known stocks amongst hedge funds. According to our database, 20 hedge fund portfolios held Sineos Wellness, Inc. (NASDAQ:SINH) at the finish of the fourth quarter, which was 33 in the prior quarter.
The story continues
We talked about Sineos Wellness, Inc. (NASDAQ:SINH) in a further short article and shared a list of the most undervalued pharmaceutical stocks to purchase according to hedge funds. Moreover, see our Q4 2022 Hedge Fund Investor Letters web page for a lot more investor letters from hedge funds and other major investors.
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Disclosure: None. This short article was initially published on Insider Monkey.