Meridian Growth Fund Trimmed Halozyme Therapeutics (HALO) Following Appreciation

Core Insights - Meridian Growth Fund experienced a -1.78% return in Q3 2025, underperforming the Russell 2500 Growth Index which returned 10.73% due to strict investment discipline and sector positioning [1] - The fund's performance was impacted by easing tariff rhetoric, falling bond yields, and significant gains in technology stocks [1] Company Highlights - Halozyme Therapeutics, Inc. (NASDAQ:HALO) reported a one-month return of 7.85% and a 52-week gain of 46.94%, closing at $71.40 per share with a market capitalization of $8.396 billion on November 28, 2025 [2] - The company is recognized for its ENHANZE® technology, which allows for subcutaneous delivery of biologics, significantly reducing treatment time for patients [3] - Halozyme's royalty revenues increased by 65%, and the management raised full-year guidance for revenues and earnings, indicating strong market performance [3] Financial Performance - Halozyme reported total revenue of $354 million in Q3 2025, reflecting a 22% year-over-year growth [4] - The company is gaining traction among hedge funds, with 41 portfolios holding its stock at the end of Q3 2025, up from 40 in the previous quarter [4]