In this article, we discuss the 5 stocks that Zhang Lei is selling. If you want to read about some more stocks that Zhang Lei is selling, go directly to Chinese Billionaire Zhang Lei is Selling These 10 Stocks.
05. Instil Bio, Inc. (NASDAQ:TIL)
Number of Hedge Fund Holders as of Q2 2022: 14
Instil Bio, Inc. (NASDAQ:TIL) was founded in 2018 and has its headquarters in Dallas, Texas. It’s a clinical-stage biopharmaceutical company that creates therapies to treat cancer patients. On September 6, Jack Allen, a Baird analyst, maintained an Outperform rating on the stock but cut his price target for Instil Bio, Inc. (NASDAQ:TIL) to $31 from $34.
Hedge fund sentiment around Instil Bio, Inc. (NASDAQ:TIL) has increased in the second quarter of 2022, with 14 hedge funds long the stock, compared to 11 in Q1 2022. Hillhouse Capital Management initiated its stake in Instil Bio, Inc. (NASDAQ:TIL) during Q1, 2021 by acquiring 2.38 million of its shares. The hedge fund kept its stake in the stock constant up until Q2, 2022 wherein its dumped its entire stake for $25.64 million.
04. Hippo Holdings Inc. (NYSE:HIPO)
Number of Hedge Fund Holders as of Q2 2022: 21
Hippo Holdings Inc. (NYSE:HIPO) provides home protection insurance in the United States and the District of Columbia. The company posted an EPS of -$0.13 in Q2 2022, missing the estimates by $0.02.
Hillhouse Capital dumped its entire stake of 2.77 million shares of Hippo Holdings Inc. (NYSE:HIPO) worth $5.516 million during Q2. Hedge fund sentiment around Hippo Holdings Inc. (NYSE:HIPO) has also decreased in the second quarter of 2022, with 21 hedge funds long the stock, compared to 30 in Q1 2022. Jim Tarantino and Chris Galvin’s Westerly Capital Management is the largest shareholder of Hippo Holdings Inc. (NYSE:HIPO) during Q2, holding 4.025 million of its shares worth $3.53 million.
03. China Jo-Jo Drugstores, Inc. (NASDAQ:CJJD)
Number of Hedge Fund Holders as of Q2 2022: 2
China Jo-Jo Drugstores, Inc. (NASDAQ:CJJD) was established in 2003 and is located in Hangzhou, People’s Republic of China. Pharmacies and other healthcare products are sold and distributed in the People’s Republic of China by China Jo-Jo Drugstores, Inc. (NASDAQ:CJJD) and its subsidiaries. The stock has lost 60.5% value year to date. Hillhouse Capital held 4.8 million China Jo-Jo Drugstores, Inc. (NASDAQ:CJJD) shares during Q1, worth $1.53 million. It dumped this entire stake during Q2.
At the end of the second quarter of 2022, 2 hedge funds in the database of Insider Monkey held stakes worth $1.076 million in China Jo-Jo Drugstores, Inc. (NASDAQ:CJJD), compared to 5 in the preceding quarter worth $1.764 million.
02. China Index Holdings Limited (NASDAQ:CIH)
Number of Hedge Fund Holders as of Q2 2022: 1
China Index Holdings Limited is a Beijing, China-based company that was established in 2007. Prior to changing its name to China Index Holdings Limited, the company was known as Selovo Investments Limited. A real estate information and analytics service platform is run by China Index Holdings Limited and its subsidiaries in China.
Zhang Lei’s Hillhouse Capital has held a constant stake of 300,000 shares in China Index Holdings Limited (NASDAQ:CIH) since Q2, 2019. The fund, however, dumped its entire stake during Q2, 2022. Jim Simons’s Renaissance Technologies is the only hedge fund out of 895 hedge funds tracked by Insider Monkey that currently holds a stake in China Index Holdings Limited (NASDAQ:CIH). It holds 12,700 shares worth $9,000.
01. argenx SE (NASDAQ:ARGX)
Number of Hedge Fund Holders as of Q2 2022: 35
The Dutch biotechnology firm argenx SE (NASDAQ:ARGX) specializes in creating cures for autoimmune conditions. Its treatments focus on conditions like neuropathy, myopathy, cancer, and airway inflammation. The company is based in Breda, the Netherlands.
Zhang Lei’s first quarter of 2022 stake in argenx SE (NASDAQ:ARGX) was worth $37.8 million and it came in the form of 120,000 shares. During the second quarter, this entire stake was sold by Zhang Lei’s fund. argenx SE (NASDAQ:ARGX)’s largest investor is Kurt Von Emster’s VenBio Select Advisor, which owns 1.2 million shares that are worth $479 million.
Artisan Partners discussed argenx SE (NASDAQ:ARGX) in the second quarter investor letter. Here is what the fund said:
“argenx SE (NASDAQ:ARGX) is a commercial stage biotechnology company with an approved, first-, and potentially best-in-class therapy (FcRn) for autoimmune diseases. In its first full quarter of sales, Vyvgart meaningfully exceeded consensus sales expectations, indicating strong early market traction. In addition, it released positive phase 3 results for Vyvgart’s use in treating immune thrombocytopenia purpura, a blood disorder characterized by low platelet levels. We believe this second indication could receive FDA approval in early 2023, and the news confirms our thesis that Vyvgart is a “pipeline in a product”—a compelling new molecule which is likely to be safe and effective in numerous rare autoimmune disorders.”
You can also take a peek at 10 Russell 2000 Basic Materials Dividend Stocks to Buy and 10 Utilities Stocks with Over 3% Dividend Yield.
