In this article, we discuss the top 5 stock picks of Eli Casdin’s Casdin Capital. If you want to read our detailed analysis of Casdin’s investment philosophy and performance, go directly to Top 10 Stock Picks of Eli Casdin’s Casdin Capital.
5. Relay Therapeutics, Inc. (NASDAQ:RLAY)
Casdin Capital’s Stake Value: $115,448,000
Percentage of Casdin Capital’s Portfolio: 5.17%
Number of Hedge Fund Holders: 18
Relay Therapeutics, Inc. (NASDAQ:RLAY) is a clinical-stage, precision medicine firm that is revolutionizing the process of discovering new drugs with a primary emphasis on accelerating the development of small molecule therapies for cancer. Akash Tewari, a Jefferies analyst, initiated coverage of Relay Therapeutics, Inc. (NASDAQ:RLAY) on June 6 and assigned it an ‘Underperform’ rating and a $13 price objective.
The hedge fund managed by Eli Casdin owned more than 3.86 million shares in Relay Therapeutics, Inc. (NASDAQ:RLAY), worth over $115.45 million, representing close to 5.17% of their portfolio. According to Insider Monkey’s Q1 data, 18 hedge funds were bullish on Relay Therapeutics, Inc. (NASDAQ:RLAY), compared to 19 funds in the earlier quarter.
Out of the hedge funds being tracked by Insider Monkey, San Francisco-based investment firm Biotechnology Value Fund / BVF Inc is the leading shareholder of Relay Therapeutics, Inc. (NASDAQ:RLAY), with 4.53 million shares worth more than $135.60 million.
4. Fate Therapeutics, Inc. (NASDAQ:FATE)
Casdin Capital’s Stake Value: $131,818,000
Percentage of Casdin Capital’s Portfolio: 5.91%
Number of Hedge Fund Holders: 31
Fate Therapeutics, Inc. (NASDAQ:FATE) is a bio-pharmaceutical start-up working on cutting-edge cellular immunotherapies for cancer patients. By the end of the first quarter of 2022, Insider Monkey identified 31 hedge funds long Fate Therapeutics, Inc. (NASDAQ:FATE). The total value of these funds was over $1.26 billion.
Jeremy Green of Redmile Group is the lead stakeholder of Fate Therapeutics, Inc. (NASDAQ:FATE). The fund owns more than 12.96 million shares of the company, worth $502.35 million. Next on the list is Catherine D. Wood’s ARK Investment Management, which owns 10.99 million company shares worth over $426.01 million.
On July 11, Etzer Darout of BMO Capital raised Fate Therapeutics, Inc. (NASDAQ:FATE) from ‘Market Perform’ to ‘Outperform’ with a $47 price objective, down from $50. Given its universal, off-the-shelf products, the company’s iPSC platform is ideally positioned in the cell therapy market, the analyst informed investors in a research note.
Casdin Capital started building its position in Fate Therapeutics, Inc. (NASDAQ:FATE) during the second quarter of 2017, purchasing shares worth over $1.78 million. At the end of Q1 2022, the hedge fund owned 3.40 million Fate Therapeutics, Inc. (NASDAQ:FATE) shares, valued at over $131.82 million. The company represented 5.91% of the hedge fund’s portfolio.
3. EQRx, Inc. (NASDAQ:EQRX)
Casdin Capital’s Stake Value: $163,249,000
Percentage of Casdin Capital’s Portfolio: 7.31%
Number of Hedge Fund Holders: 38
Pharmaceutical business EQRx, Inc. (NASDAQ:EQRX) focuses mainly on developing drugs for treating immune-inflammatory illnesses and cancer in the United States. Goldman Sachs analyst Chris Shibutani initiated coverage of EQRx, Inc. (NASDAQ:EQRX) on June 13, assigning the company a ‘Buy’ rating and a price objective of $8.
At the end of Q1 2022, EQRx, Inc. (NASDAQ:EQRX) represented 7.31% of Casdin Capital’s portfolio. The hedge fund owned 39.53 million shares in EQRx, Inc. (NASDAQ:EQRX), valued at over $163.25 million.
EQRx, Inc. (NASDAQ:EQRX) has recently experienced an increase in hedge fund interest. According to Insider Monkey’s database, 38 hedge funds were bullish on EQRx, Inc. (NASDAQ:EQRX) at the end of March 2022, compared to 31 funds in the prior quarter.
2. Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)
Casdin Capital’s Stake Value: $163,290,000
Percentage of Casdin Capital’s Portfolio: 7.32%
Number of Hedge Fund Holders: 38
Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) is a biopharmaceutical company that aims to discover, develop, and commercialize novel medicines consisting of ribonucleic acids. Cantor Fitzgerald analyst Olivia Brayer initiated coverage of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) on July 12, assigning the company a ‘Neutral’ rating and a $175 price target.
Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) saw a decrease in hedge fund sentiment recently. In Q1 2022, 38 hedge funds reported bullish positions in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY), compared to 39 funds in the prior quarter. Kurt Von Emster’s VenBio Select Advisor is one of the leading shareholders of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY), with 1.30 million shares worth $212.28 million.
Casdin Capital initiated its position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) during the fourth quarter of 2015, purchasing 60,000 shares. During Q1 2022, the hedge fund held 1 million shares in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY), worth over $163.29 million, representing 7.32% of its investment portfolio.
1. BioLife Solutions, Inc. (NASDAQ:BLFS)
Casdin Capital’s Stake Value: $171,982,000
Percentage of Casdin Capital’s Portfolio: 7.71%
Number of Hedge Fund Holders: 12
BioLife Solutions, Inc. (NASDAQ:BLFS), which develops, produces, and provides bio-production technology and services in the United States, Africa, Canada, Europe, the Middle East, and internationally, serves the cell and gene therapy industry. Eli Casdin’s Casdin Capital is one of the leading shareholders of BioLife Solutions, Inc. (NASDAQ:BLFS), with 7.57 million shares worth about $171.98 million. BioLife Solutions, Inc. (NASDAQ:BLFS) accounted for 7.71% of the hedge fund’s portfolio.BioLife Solutions, Inc. (NASDAQ:BLFS) is the most significant investment in Casdin Capital’s portfolio.
Maxim analyst Jason McCarthy maintained a ‘Buy’ rating on BioLife Solutions, Inc. (NASDAQ:BLFS) on May 12 while reducing his price target to $30 from $60. Though the company reported another solid quarter, the analyst cautioned investors in a research note that market challenges brought on by rising interest rates and inflation reduced the stock’s multiple.
Overall, hedge funds are loading up on BioLife Solutions, Inc. (NASDAQ:BLFS). Among the hedge funds tracked by Insider Monkey, 12 funds were long BioLife Solutions, Inc. (NASDAQ:BLFS) in the March quarter, down from 15 funds in the preceding quarter.
In its Q3 2020 Investor Letter, Wasatch Advisors mentioned BioLife Solutions, Inc. (NASDAQ: BLFS) and discussed its stance on the firm. Here is what the fund said:
“A significant purchase during the quarter was BioLife Solutions, Inc. (BLFS). BioLife Solutions was not only one of our newer holdings, it was also a strong performer for the quarter. The company provides proprietary biopreservation products used in cell therapy, gene therapy and regenerative medicine. BioLife’s flagship product, CryoStor,® has garnered increased attention from investors because of its potential use in coronavirus vaccines requiring storage at very cold temperatures. In addition, the company offers thawing products, a cold-chain transport system and high-capacity freezers—all of which also have applications to the prospective distribution programs of certain vaccine candidates for Covid-19.”
You can also take a peek at Top 10 Stock Picks of Teresa Barger’s Cartica Management and Top 10 Stock Picks of Cannell Capital.
