How Novo-Catalent Deal Affects Halozyme (HALO)?
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Laughing Water Capital, an investment management company, released its first-quarter 2024 investor letter. A copy of the same can be downloaded here. In the first quarter, investment in the fund returned 8.4% after all fees and expenses compared to 10.6% and 5.2% returns for the SP500TR and R2000 during the quarter, respectively. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.
Laughing Water Capital featured stocks like Halozyme Therapeutics, Inc. (NASDAQ:HALO) in the first quarter 2024 investor letter. Based in San Diego, California, Halozyme Therapeutics, Inc. (NASDAQ:HALO) is a biopharma technology company. On May 2, 2024, Halozyme Therapeutics, Inc. (NASDAQ:HALO) stock closed at $39.82 per share. One-month return of Halozyme Therapeutics, Inc. (NASDAQ:HALO) was -3.04%, and its shares gained 28.45% of their value over the last 52 weeks. Halozyme Therapeutics, Inc. (NASDAQ:HALO) has a market capitalization of $5.059 billion.
Laughing Water Capital stated the following regarding Halozyme Therapeutics, Inc. (NASDAQ:HALO) in its first quarter 2024 investor letter:
"Starting with the recent positive industry developments, in early February it was announced that Novo Holdings would be purchasing Catalent Inc. (CTLT), a publicly traded CDMO, for $16.5B. Novo Holdings would then sell three fill-finish sites to Novo Nordisk for $11 billion. The fill-finish assets are the real prize here, as Novo Nordisk is the manufacturer of blockbuster weight loss drugs Ozempic and Wegovy, and there simply is not enough global fill-finish capacity to meet the demand for these drugs.
