In this article, we discuss Cathie Wood’s optimism and her 5 most ambitious stock picks. If you want to see more stocks in this selection, click ‘We Will Shine’: Cathie Wood’s Optimism and Her 10 Most Ambitious Stock Picks.
5. Mynaric AG (NASDAQ:MYNA)
Number of Hedge Fund Holders: 5
Mynaric AG (NASDAQ:MYNA) was incorporated in 2009 and is headquartered in Gilching, Germany. The company develops and manufactures complex laser communication technology for long-distance data transfer between moving objects for wireless terrestrial, airborne, and space projects in Germany and internationally. The company reported on April 29 its Q1 revenue of €2.36 million, up 247.1% year-over-year. Cathie Wood boosted her position in Mynaric AG (NASDAQ:MYNA) by 34% in Q1 2022, holding 524,708 shares worth $6.2 million.
Canaccord analyst Austin Moeller on April 29 reiterated a Buy rating on Mynaric AG (NASDAQ:MYNA) but lowered the price target on the stock to $30 from $40. The analyst considers the premium relative to peers on the shares as appropriate due to Mynaric AG (NASDAQ:MYNA)’s robust backlog and execution on core satellite programs, which reaffirms the company’s strategy to scale optical terminal production.
According to Insider Monkey’s Q1 data, 5 hedge funds were bullish on Mynaric AG (NASDAQ:MYNA), with collective stakes worth $12.2 million, compared to 9 funds in the last quarter, with combined stakes valued at $13.3 million.
4. Burning Rock Biotech Limited (NASDAQ:BNR)
Number of Hedge Fund Holders: 8
Burning Rock Biotech Limited (NASDAQ:BNR) was incorporated in 2014 and is headquartered in Guangzhou, China. The company offers next-gen sequencing-based cancer therapy selection and prognosis prediction tests applicable to a range of cancer types using tissue and liquid biopsy samples. Cathie Wood’s ARK Investment Management increased its Burning Rock Biotech Limited (NASDAQ:BNR) stake by 315% in Q1 2022, with 3.5 million shares worth $32.6 million.
According to Insider Monkey’s database, 8 hedge funds were bullish on Burning Rock Biotech Limited (NASDAQ:BNR) at the end of March 2022, with collective stakes worth $52.2 million. Samuel Isaly’s OrbiMed Advisors is one of the leading shareholders of the company, with 1.45 million shares worth about $13.5 million.
3. XPeng Inc. (NYSE:XPEV)
Number of Hedge Fund Holders: 26
XPeng Inc. (NYSE:XPEV) is a Chinese company that manufactures and designs smart electric vehicles. The company also offers maintenance, super charging, vehicle leasing, insurance, ride-hailing, technical support, automotive loan referral and auto financing, music subscription, and other services. Cathie Wood’s hedge fund increased its hold on XPeng Inc. (NYSE:XPEV) by 35% in the first quarter of 2022, with 928,648 shares worth $25.6 million.
On May 23, XPeng Inc. (NYSE:XPEV) posted its Q1 results, reporting a loss per share of $0.27, beating estimates by $0.03. The $1.12 billion revenue also outperformed market consensus estimates by $15.25 million.
JPMorgan analyst Nick Lai on May 24 reaffirmed an Overweight rating on XPeng Inc. (NYSE:XPEV) but lowered the price target on the stock to $35 from $42. The analyst expects the share price to reflect the “V-shaped rebound in production and profitability” in the second half of 2022.
Among the hedge funds tracked by Insider Monkey, 26 funds were bullish on XPeng Inc. (NYSE:XPEV) at the conclusion of Q1 2022, compared to 29 funds in the previous quarter. Chase Coleman’s Tiger Global Management is the leading shareholder of the company, with 13.7 million shares worth $378.6 million.
2. Joby Aviation, Inc. (NYSE:JOBY)
Number of Hedge Fund Holders: 30
Joby Aviation, Inc. (NYSE:JOBY) is a California-based air mobility company that develops electric vertical takeoffs and landing aircrafts that aim to provide air transportation as a service. Joby Aviation, Inc. (NYSE:JOBY) intends to create an aerial ridesharing service. Cathie Wood’s ARK Investment Management increased its stake in Joby Aviation, Inc. (NYSE:JOBY) by 43%, holding 1.4 million shares worth $9.38 million.
JPMorgan analyst Bill Peterson on April 28 initiated coverage of Joby Aviation, Inc. (NYSE:JOBY) with a Neutral rating and a $7 price target. According to the analyst, Joby Aviation, Inc. (NYSE:JOBY) is a first-mover in the emerging electric vertical takeoff and landing industry and aims to manufacture aircrafts for passenger flights. However, the analyst believes Joby Aviation, Inc. (NYSE:JOBY)’s “early leadership is generally reflected in the stock”.
According to Insider Monkey’s Q1 database, 30 hedge funds were long Joby Aviation, Inc. (NYSE:JOBY), up from 23 funds in the earlier quarter.
1. Fathom Digital Manufacturing Corporation (NYSE:FATH)
Number of Hedge Fund Holders: 12
Fathom Digital Manufacturing Corporation (NYSE:FATH) is a Wisconsin-based company that provides a digital manufacturing platform, product development, and manufacturing services in North America. The company serves the technology, defense, aerospace, medical, automotive, and IOT sectors. Cathie Wood’s ARK Investment Management added Fathom Digital Manufacturing Corporation (NYSE:FATH) to its Q1 portfolio, buying 886,752 shares worth $5.48 million.
On May 17, Needham analyst James Ricchiuti reiterated a Buy recommendation on Fathom Digital Manufacturing Corporation (NYSE:FATH) but lowered the price target on the shares to $9 from $12. According to the analyst, the company reported “solid” Q1 results despite the COVID disruptions in the United States and with its outsource partners in China. The analyst added that while demand trends are robust across Fathom Digital Manufacturing Corporation (NYSE:FATH)’s business, he is cutting his estimates to account for an uncertain macro backdrop.
Among the hedge funds tracked by Insider Monkey, 12 funds were bullish on Fathom Digital Manufacturing Corporation (NYSE:FATH) at the end of March 2022, compared to 17 funds in the prior quarter.
You can also take a look at 10 Biggest Hospital Companies and 10 Best Recession Stocks To Buy.
