Health care stocks have largely fallen out-of-favor over the past several years, as the industry continues to see growing bipartisan angst. The defensive sector ranks in the back-half in terms of performance year-to-date, with 1.25% compared to the S&P 500 YTD returns of 4.41%. Only financials, materials, and energy have been worse performers than health care in 2020.
Despite growing scrutiny and potential changes to the overall sector, biotechnology remains a stronghold. Biotech will always be in demand, as emerging illnesses and diseases require corresponding vaccination development and other related counter-measures.
One biotechnology company who happens to be among to top performing stocks so far in 2020 is Genprex, Inc. (NASDAQ: GNPX), which has skyrocketed 1,565.63% YTD.
The surge began after the U.S. Food and Drug Administration (FDA) granted Genprex fast track designation for its Oncoprex “immunogene therapy in combination with EGFR inhibitor osimertinib (AstraZeneca’s Tagrisso, which had worldwide sales in 2018 of $1.86 billion, $2.31 billion in the first nine months of 2019, and is currently AstraZeneca’s highest grossing product) for the treatment of non-small cell lung cancer,” according to the company.
For all long-term investors that held on, this early 2020 performance has been a major windfall. Here are three of Genprex’s top institutional shareholders, who have been along for the ride:
1. Texas Treasury Safekeeping Trust Co – 7.80% Ownership of Genprex
The state of Texas has been a major benefactor of GNPX’s surge, as the Texas Treasury Safekeeping Trust Company owns 7.80% or around 1.24 million shares of the biotech company. The ownership trend shows that the trust company has been accumulating shares over the past several previous quarters.
The trust company was created by the Texas legislature “as a special purpose entity to efficiently and economically manage, invest, and safeguard funds for its clients: the state and various subdivisions,” according to its website. The Texas trust company managed $65 billion in assets and oversees the state’s two largest Local Government Investment Pools: TexPool and TexPool Prime.
2. Renaissance Technologies Corp – 0.43% Ownership
Founded in 1982 by world-renowned investor, Jim Simons, Renaissance Technologies is a quant-based hedge fund that has produced annual returns of 66% on its flagship fund, Medallion fund, since 1998.
Renaissance holds a 0.43% ownership stake in Genprex, which equates to 68,588 shares, as of January 31, 2020. Ownership trends show that the hedge fund had been accumulating GNPX shares in previous quarters.
3. Vanguard Group, Inc. – 0.22% Ownership
Vanguard is among the world’s largest and most influential investment companies, which has been a pioneer in low-costs mutual funds, ETFs, etc. As of August 31, 2019, Vanguard held global assets under management of $5.6 trillion from more than 30 million investors across 170 different countries. The investment manager offers around 190 funds within the United States, and 220 additional funds outside of the country.
As of January 31, 2020, Vanguard owns 0.22% of Genprex, or 35,529 shares. Like the trust company and Renaissance, Vanguard’s ownership trend shows the massive investment firm has been accumulating shares over the past several quarters.