Published on 9 Nov 2023 on Insider Monkey via Yahoo Finance

Here’s Why Baron Discovery Fund Sold Abcam plc (ABCM)

Baron Funds, an investment management company, released its “Baron Discovery Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. Baron Discovery Fund (the Fund) reached its 10-year anniversary on September 30, 2023. Since inception, on a cumulative basis, the fund was up 195.3% (Institutional Shares) compared to the Russell 2000 Growth Index’s 91.6% return. During the quarter, the fund returned -5.36% (Institutional Shares) compared to -7.32% return for the benchmark. The bond market became the latest headwind to stock market performance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Baron Discovery Fund highlighted stocks like Abcam plc (NASDAQ:ABCM) in the third quarter 2023 investor letter. Headquartered in Cambridge, the United Kingdom, Abcam plc (NASDAQ:ABCM) is a global life science company that focuses on identifying, developing, and distributing reagents and tools. On November 8, 2023, Abcam plc (NASDAQ:ABCM) stock closed at $23.11 per share. One-month return of Abcam plc (NASDAQ:ABCM) was 2.03%, and its shares gained 41.43% of their value over the last 52 weeks. Abcam plc (NASDAQ:ABCM) has a market capitalization of $5.319 billion.

Baron Discovery Fund made the following comment about Abcam plc (NASDAQ:ABCM) in its Q3 2023 investor letter: