Billionaire Joseph Edelman’s Top 10 Long-Term Stock Picks

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1. Nuvalent, Inc. (NASDAQ:NUVL)

Number of Hedge Fund Holders: 34

Perceptive Advisors’ Stake: $19.1 million

Nuvalent, Inc. (NASDAQ:NUVL) is a clinical-stage biopharmaceutical company that develops therapies for patients with cancer. There are several factors like increased net revenue, innovative drug pipeline, and focus on precision oncology that make this company worth investing in. For instance, as per the report of the third quarter of 2024, cash equivalents and marketable securities of the company were $1.2 billion. This financial runaway is expected to sustain operations into 2026, providing multiple resources to advance its clinical programs. Moreover, the company’s lead candidates, NVL-655 and NVL-520, target cancers driven by ROS1 and ALK gene alterations.

While we acknowledge the potential of Nuvalent, Inc. (NASDAQ:NUVL) as an investment, our conviction lies in the belief that some stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for a stock that is more promising than Nuvalent, Inc. (NASDAQ:NUVL) but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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