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Protean Select's investment thesis on Novo Nordisk A/S ($NOVO-B.CO) — Q4 2024 | Buyside Digest

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$NOVO-B.CONASDAQNovo Nordisk A/S

BULL

Protean Select—NOVO-B.CO

Fund Letter

Q4 2024

Published January 7, 2025

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$293.60USD

-1.8% vs last month

$632.30Pitched

-53.6% since pitch

Market Cap$1.30T

P/E (TTM)N/A

52-Wk RangeN/A

Div. YieldN/A

Technical Chart

From the Fund Letter

The fund avoided a major drawdown by choosing to sit out Novo Nordisk's highly-anticipated Cagrisema Phase III study readout, recognizing the risk of crowded positioning. Despite the trial's...

— Pontus Dackmo

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Bronte Capital Amalthea FundBEAR

Pitched Mar 31, 2026

The manager argues that Novo Nordisk is being outcompeted by Eli Lilly, which has a more effective and better-marketed drug. Consequently, Novo's sales...

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