1. Natera (NASDAQ:NTRA)
Druckenmiller’s Stake: $612,691,000
Natera (NASDAQ:NTRA) develops genetic testing products used mainly in cancer detection, pregnancy screening, and organ health monitoring. Its key product is Signatera, a cancer testing platform that helps doctors monitor cancer recurrence.
Natera (NASDAQ:NTRA) says about 50% of oncologists are already ordering Signatera. In Q1, revenue rose about 38% year over year while test volumes jumped 18.5% year over year.
Some notable news for the stock includes FDA approvals like Signatera for bladder cancer, expanding Medicare reimbursement coverage, increasing adoption in international markets like Japan and expansion via acquisitions ( Foresight Diagnostics).
Baron Health Care Fund stated the following regarding Natera, Inc. (NASDAQ:NTRA) in its Q1 2026 investor letter:
“We reacquired shares of Natera, Inc. (NASDAQ:NTRA), a diagnostics company that provides testing services in the oncology, prenatal, and organ transplant settings. We are particularly excited about the promise of Natera’s Signatera minimal residual disease (MRD) tests, which account for half of the company’s revenues today and are the company’s key growth driver. Signatera tests for any evidence of cancer cell DNA in a patient’s blood and can be used to: 1) stratify patients and guide therapy decisions after surgical tumor removal; 2) monitor how patients respond to treatment; and 3) detect early cancer recurrence. Signatera is the leading test in the MRD category and has been proven to meaningfully affect patient outcomes in colorectal cancer, breast cancer, bladder cancer, and to monitor immunotherapy response. Natera continues to invest in clinical studies to prove Signatera’s clinical value in additional treatment settings. In particular, we expect Signatera growth to benefit from recently published/presented data in muscle-invasive bladder cancer and head and neck squamous cell carcinoma. We also anticipate Signatera to launch in Japan following reimbursement for colorectal cancer testing, which could drive significant growth in 2027 and beyond given the large patient population. Further, Natera continues to defend its leadership position by expanding its MRD test offerings, including launching their whole genome sequencing-based test and the tumor-naïve Latitude test. Overall, we think MRD testing can be a $20 billion market as oncologists continue to adopt these tests and as its clinical utility is proven in more settings, and we are bullish that Natera will continue to hold its leadership position.”
While we acknowledge the potential of NTRA to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NTRA and that has 100x upside potential, check out our report about the cheapest AI stock.
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