Meridian Funds, managed by ArrowMark Partners, reported a -1.78% return in the third quarter of 2025, compared to the Russell 2500 Growth Index’s 10.73% gain. The fund’s underperformance was attributed to sector positioning and strict investment discipline. Equities reached record highs due to tech gains and falling bond yields, with large tech stocks benefiting from eased tariff rhetoric and AI investments. The U.S. Federal Reserve also cut rates by 25 basis points in mid-September.

Halozyme Therapeutics, Inc. (HALO) was highlighted in Meridian Growth Fund’s Q3 2025 investor letter. The nuclear fuel supplier saw a 7.85% one-month return and shares appreciated by 46.94% over 52 weeks. As of November 28, 2025, Halozyme Therapeutics, Inc. (HALO) closed at $71.40 per share, with a market cap of $8.396 billion. The company’s ENHANZE® technology enables quick drug delivery, leading to revenue growth and expanded indications.

Meridian Growth Fund provided insights on Halozyme Therapeutics, Inc. (HALO) in its Q3 2025 investor letter. The company’s proprietary ENHANZE® technology streamlines biologic delivery, reducing treatment durations and enhancing patient and provider experiences. Halozyme reported a strong quarter with increased royalty revenues and raised full-year guidance, prompting positive investor reactions. The fund trimmed its position as share prices rose, following a disciplined valuation approach.

Despite a 22% year-over-year revenue growth for Halozyme Therapeutics, Inc. (HALO) in Q3 2025, the company is not among the 30 most popular stocks held by hedge funds. While acknowledging its potential, some AI stocks are seen as offering greater upside with lower risk. For investors seeking undervalued AI stocks with tariff and onshoring trend benefits, explore a free report on the best short-term AI stock.

Read more at Yahoo Finance: Meridian Growth Fund Trimmed Halozyme Therapeutics (HALO) Following Appreciation