TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” third-quarter investor letter. A copy of the letter can be downloaded here. Within equities, smaller or value-oriented stocks in developed economies yielded higher, whereas emerging markets saw the opposite trend. In the third quarter, the strategy returned 4.96% (gross) and 4.75% (net) while the Russell Midcap Growth Index returned 6.54%. In addition, please check the fund’s top five holdings to know its best picks in 2024.

TimesSquare Capital U.S. Mid Cap Growth Strategy highlighted stocks like Argenx SE (NASDAQ:ARGX) in the Q3 2024 investor letter. Argenx SE (NASDAQ:ARGX) is a biotechnology company focused on autoimmune diseases. The one-month return of Argenx SE (NASDAQ:ARGX) was 5.80%, and its shares gained 37.40% of their value over the last 52 weeks. On December 6, 2024, Argenx SE (NASDAQ:ARGX) stock closed at $623.11 per share with a market capitalization of $37.26 billion.

TimesSquare Capital U.S. Mid Cap Growth Strategy stated the following regarding Argenx SE (NASDAQ:ARGX) in its Q3 2024 investor letter:

"Our preferences among Health Care stocks are those companies providing novel therapies for unmet needs that deserve premium pricing, or specialized service providers. Argenx SE (NASDAQ:ARGX) is a global immunology company focused on developing of antibody treatments for autoimmune disorders. Sales of its Vyvgart therapeutic, used to treat Myasthenia Gravis, were ahead of expectations and argenx is on a path to profitability. We added to the position on increased conviction, which improved by 26% during the quarter."

A lab setting filled with scientific equipment and researchers in lab coats working together to develop new therapies for autoimmune diseases.

Argenx SE (NASDAQ:ARGX) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 43 hedge fund portfolios held Argenx SE (NASDAQ:ARGX) at the end of the third quarter which was 52 in the previous quarter. While we acknowledge the potential of Argenx SE (NASDAQ:ARGX) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

In another article, we discussed Argenx SE (NASDAQ:ARGX) and shared the list of high growth healthcare stocks to invest in. In addition, please check out our hedge fund investor letters Q3 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.