Andreas Halvorsen (Trades, Portfolio) has revealed two new buys in 4D Molecular Therapeutics Inc. (FDMT, Financial) and AbCellera Biologics Inc. (ABCL, Financial), according to GuruFocus' Real-Time Picks, a Premium feature.
Halvorsen, a "Tiger Cub," learned under Julian Robertson (Trades, Portfolio) of Tiger Management prior to founding Viking Global Investors in 1999. The firm considers fundamentals and management to be some of the most important aspects when identifying investment opportunities, but it also considers cyclical and industry trends.
AbCellera Biologics
On Dec. 14, Halvorsen created a new holding in AbCellera Biologics with the purchase of 19.28 million shares. The shares traded at an average price of $50.01 on the day of the transaction. Overall, the purchase had a 3.37% impact on the portfolio. GuruFocus estimates the holding is down 9.60% in the short duration of its lifetime.
AbCellera Biologics is a technology company that aims to become the centralized operating system for next-generation antibody discovery. Through their AI-powered antibody discovery platform, they seek to search, decode and analyze natural immune systems to find antibodies that can be developed into new treatments.
AbCellera Biologics recently closed their initial public offering of 27.77 million common shares that were priced at $20 per share. This included the exercise in full of the underwriters' option to purchase 3.62 additional common shares. According to a press release, the gross proceeds from the offering totalled approximately $555.5 million before deducting underwriting discounts, commissions and estimated offering expenses.
As of Dec. 22, the stock was trading at $45.94 with a market cap of $12.08 billion. As the stock is a newcomer to the public market, there is currently not enough financial data to display a GF Value line or a Peter Lynch Chart.
4D Molecular Therapeutics
On Dec. 15, Halvorsen purchased 3.93 million shares of 4D Molecular Therapeutics to establish a new holding. During the day of the transaction, the shares traded at an average price of $39.55. The purchase had an overall impact of 0.56% on the portfolio, and GuruFocus estimates the holding has already gained 3.69%.
4D Molecular Therapeutics operates as a biotechnology company. The company designs, develops and commercializes transformative gene therapeutic products for unmet medical conditions. Their transformative discovery platform, dubbed Therapeutic Vector Evolution, enables a disease-first approach that customizes vectors to target specific tissue types associated with an underlying disease.
On Dec. 22, the stock traded at $41.54 per share with a market cap of $1.10 billion. The company recently completed its initial public offering of 9.66 million shares. The aggregate gross proceeds totalled approximately $222 million before deductions.
Portfolio overview
At the end of the third quarter, Halvorsen's portfolio contained 87 stocks, with 32 new holdings. It was valued at $27.68 billion and has seen a turnover rate of 33%. Top holdings include Microsoft Corp. (MSFT, Financial), Adaptive Biotechnologies Corp. (ADPT, Financial), Fidelity National Information Services Inc. (FIS, Financial), American Express Co. (AXP, Financial) and Centene Corp. (CNC, Financial).
By weight, the top three sectors represented are healthcare (30.30%), technology (25.00%) and financial services (16.07%).
Disclosure: Author owns no stocks mentioned.
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