Cathie Wood’s Portfolio: 5 Stocks Under $10

1. SomaLogic, Inc. (NASDAQ:SLGC)

Number of Hedge Fund Holders: 37

Share Price as of April 15: $6.71

SomaLogic, Inc. (NASDAQ:SLGC) is a Colorado-based clinical diagnostics company that primarily focuses on protein biomarker discovery. Cathie Wood’s fund owns 8.8 million shares of SomaLogic, Inc. (NASDAQ:SLGC) as per the 13F filings from Q4 2021. The stake is valued at $102.8 million, representing 0.31% of the total holdings. 

On March 29, SomaLogic, Inc. (NASDAQ:SLGC) reported a fourth quarter revenue of $23 million, surpassing market consensus estimates by $1.55 million. According to guidance for 2022, the company expects its revenue to range between $105 million to $110 million, versus a consensus of $103.45 million.

Canaccord analyst Kyle Mikson stated on March 30 that SomaLogic, Inc. (NASDAQ:SLGC)’s reported Q4 results exceeded expectations and consensus. He said that the company appears to be executing well on its growth strategy and remains optimally positioned to capitalize on the large proteomics market opportunity in both traditional research and clinical diagnostics. The analyst believes SomaLogic, Inc. (NASDAQ:SLGC) shares presently do not reflect the company’s long-term growth capacity.

In the fourth quarter of 2021, 37 hedge funds in Insider Monkey’s database of elite funds were long SomaLogic, Inc. (NASDAQ:SLGC), collectively holding stakes worth $630.2 million. Eli Casdin’s Casdin Capital is the largest position holder in the company, with 12.3 million shares valued at $144.2 million.

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