Can BioTechne Corporation (TECH) Still Bounce Back?


Can BioTechne Corporation (TECH) Still Bounce Back?

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Can BioTechne Corporation (TECH) Still Bounce Back?

Investment management firm Barron's Fund has issued a letter to investors in Barron's Healthcare Fund for the third quarter of 2022. A copy can be downloaded here. The fund fell 6.01% in the third quarter, compared to a 4.72% drop in the Russell 3000 Healthcare Index. The fund's poor performance in the quarter was attributed to poor stock selection. Also check out the fund's top five holdings for some of the key offerings in 2022.

Barron's Fund highlighted stocks like BioTech Corporation (NASDAQ:TECH) in its third-quarter 2022 letter to investors. Bio-Techn Corporation (NASDAQ: TECH), headquartered in Minneapolis, Minnesota, is a developer and manufacturer of Regent solutions, devices, and services for the clinical diagnostics and research market. On October 14, 2022, shares of BioTech Corporation (NASDAQ:TECH) closed at $282.86 per share. BioTech Corporation (NASDAQ:TECH) posted a -6.95% monthly return and lost 43.37% in the last 52 weeks. The market capitalization of BioTech Corporation (NASDAQ:TECH) is $11.095 billion.

Here's what Barron Funds specifically said about BioTech Corporation (NASDAQ:TECH) in its Q3 2022 investor letter:

BioTech Corporation (NASDAQ:TECH) is a leading developer and manufacturer of reagents, tools, and services for the life sciences, diagnostics, and bioprocess markets. Changes in the prior quarter in anticipation of higher prices and some remaining selling have put pressure on the stock. We consider this setback to be temporary and we are confident that BioTech You will achieve solid growth in the long term.

BioTech Corporation (NASDAQ:TECH) is not on our list of the 30 best hedge fund stocks. According to our database, BioTech Corporation (NASDAQ:TECH) had 31 hedge fund portfolios at the end of the second quarter, up from 29 in the previous quarter.

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We covered BioTech Corporation (NASDAQ:TECH) in another article and Barron's Funds shared our opinion about the company last quarter. For more letters from hedge funds and other top investors, visit our Hedge Fund Investors Letters for Q3 2022 page.

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Disclosure: No. This article was originally published on Insider Monkey.

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