PRIMECAP Management (Trades, Portfolio), a notable investment firm, has recently adjusted its investment portfolio by reducing its stake in Rhythm Pharmaceuticals Inc (NASDAQ:RYTM). This move, executed on December 31, 2023, reflects the firm's ongoing portfolio management strategy and its assessment of RYTM's investment potential.
Recent Acquisition by PRIMECAP Management (Trades, Portfolio) PRIMECAP Management (Trades, Portfolio), a renowned investment firm, has recently increased its investment in Elanco Animal Health Inc (NYSE:ELAN), a key player in the animal health sector. On December 31, 2023, PRIMECAP Management (Trades, Portfolio) executed an addition to its position, purchasing 1,431,665 shares.
On February 2, 2024, Point72 Asset Management, led by renowned investor Steven Cohen (Trades, Portfolio), executed a significant buy action, acquiring 1,612,639 shares in Sagimet Biosciences Inc (NASDAQ:SGMT). The addition of these shares to Point72's portfolio represents a 0.05% impact, with the firm now holding a 5.30% stake in Sagimet Biosciences Inc.
On December 31, 2023, Chuck Royce (Trades, Portfolio)'s firm made a notable adjustment to its investment portfolio by reducing its stake in Insteel Industries Inc. (NYSE:IIIN). The transaction involved the sale of 120,780 shares, which resulted in a 12.76% decrease in the firm's holdings in the company. Following the transaction, the firm's total share count in Insteel Industries stood at 826,134, representing a 0.32% portfolio position and a 4.25% ownership in the company.
On December 1, 2023, Baillie Gifford (Trades, Portfolio), a renowned investment management firm, made a significant adjustment to its holdings in Certara Inc (NASDAQ:CERT), a key player in the biosimulation software and technology sector. This transaction had a negligible impact on Baillie Gifford (Trades, Portfolio)'s portfolio, with the trade executed at a price of $14.64 per share. Despite the reduction, Baillie Gifford (Trades, Portfolio) maintains a 5.58% position in Certara, reflecting a 0.12% ratio of the traded stock in the firm's overall portfolio.