Fred Alger Management, an investment management company, released its “Alger Mid Cap Fund” first-quarter 2025 investor letter. A copy of the letter can be downloaded here. In the first quarter of 2026, Class A shares of the Alger Mid Cap Focus Fund underperformed the Russell Midcap Growth Index in a volatile market environment. The Communication Services and Industrials sectors contributed to the fund’s performance while Health Care and Consumer Staples detracted. Two major influences changed the investing environment in the quarter. The software industry experienced significant disruption due to the rise of agentic artificial intelligence tools, whereas the U.S.-Iran conflict that began in late February sent the oil prices more than $100 per barrel for the first time in four years. The Fund identifies opportunities for companies that are adopting and facilitating the technology as it evolves into an agentic phase, despite the market’s focus on industries affected by AI advancements. In addition, please check the Fund’s top five holdings to know its best picks in 2026.
In its first-quarter 2026 investor letter, Alger Mid Cap Fund highlighted stocks like Repligen Corporation (NASDAQ:RGEN). Repligen Corporation (NASDAQ:RGEN) is a life science company that develops and distributes bioprocessing technologies and systems. On April 17, 2026, Repligen Corporation (NASDAQ:RGEN) closed at $131.21 per share. One-month return of Repligen Corporation (NASDAQ:RGEN) was 12.77%, and its shares lost 0.33% over the past 52 weeks. Repligen Corporation (NASDAQ:RGEN) has a market capitalization of $7.5 billion.
Alger Mid Cap Fund stated the following regarding Repligen Corporation (NASDAQ:RGEN) in its Q1 2026 investor letter:
“Repligen Corporation (NASDAQ:RGEN) is a life sciences company that develops and provides advanced bioprocessing technologies and systems used in the manufacture of biologic drugs, including monoclonal antibodies and cell and gene therapies. The company’s products, including filtration, chromatography, process analytics, and proteins, play a critical role in the purification stage of biologics manufacturing, helping ensure that drug products meet rigorous safety and efficacy standards. We believe Repligen is a high-quality compounder operating in a structurally attractive market, as the growing complexity and volume of biologic drug development drive sustained demand for increasingly sophisticated manufacturing tools. During the quarter, shares detracted from performance driven by a broader rotation away from the life sciences tools industry, while full-year revenue guidance that investors viewed as conservative at the low end further weighed on sentiment. Despite the near-term pressure, we continue to believe Repligen’s market leading portfolio and deep integration into customers’ manufacturing workflows position the company well for durable long-term growth.”
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