5 Best Stocks to Invest In According to Chinese Billionaire Lei Zhang

4. I-Mab (NASDAQ: IMAB)

Zhang’s Stake Value: $555,427,000
Percentage of Lei Zhang’s 13F Portfolio: 5.71%
Number of Hedge Fund Holders: 18

I-Mab (NASDAQ: IMAB) is a clinical-stage biopharmaceutical business that develops, manufactures, and sells biologics to treat cancer and autoimmune illnesses. It was founded in 2014 and is placed fourth on the list of 10 best stocks to invest in according to Chinese billionaire Lei Zhang. I-Mab (NASDAQ: IMAB) shares have offered investors more than 93% in returns over the course of the past 12 months.

On July 30, I-Mab (NASDAQ: IMAB) announced that the US Food and Medication Administration (FDA) approved Protollin, an experimental drug for treating Alzheimer’s disease, allowing a Phase 1 clinical study to begin. On July 13, Cantor Fitzgerald analyst Louise Chen raised the price target on I-Mab (NASDAQ: IMAB) to $95 from $90 and reiterated an “Overweight” rating on the shares. 

Hillhouse Capital Management holds 6.62 million shares in I-Mab (NASDAQ: IMAB), worth over $555 million. This represents 5.71% of their portfolio. There were 18 hedge funds in our database that held stakes in I-Mab (NASDAQ: IMAB) in the second quarter, compared to 20 funds in the quarter earlier.