5 Best Biotech and AI Stocks To Buy According To Billionaire Jim Simons

1. PMV Pharmaceuticals, Inc. (NASDAQ:PMVP)

Jim Simons’ Euclidean Capital’s Stake Value: $82,540,000

Percentage of Jim Simons’ Euclidean Capital’s 13F Portfolio: 40.12%

Number of Hedge Funds: 21

PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) is a precision oncology company involved in the expansion and innovation of small molecule, tumor-agnostic therapies aimed at p53 mutations. p53 is a well-known tumor suppressor protein and can take out cancer cells. Dr. Arnold Levine, the co-founder of PMV Pharmaceuticals, Inc. (NASDAQ:PMVP), established the field of p53 mutation in 1979. As a result, the Cranbury, New Jersey-based corporation has over four decades of research experience related to the workings of the p53 tumor suppressor.

In a research report issued to investors in September 2021, Paul Choi at Goldman Sachs upgraded PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) from a Neutral to a Buy rating and increased the price target from $35 to $43. The target price provides an upside potential of over 147% from the current stock price as of January 28. Choi sees an attractive risk and reward profile from the Phase 1 results of p53 Y220C solid tumor mutation expected in mid-2022.

PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) went public in September 2020 at an IPO price of $18, and currently, the stock is trading below the IPO price, which gives investors an attractive opportunity to go long on the stock.

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