5 Biotech Stocks in Billionaire Ray Dalio’s Portfolio

3. Zai Lab Limited (NASDAQ:ZLAB)

Bridgewater Associates’ Stake Value: $16.7 million

Percentage of Bridgewater Associates’ 13F Portfolio: 0.09%

Number of Hedge Fund Holders: 36

Closing price on December 10, 2021: $65.51

Zai Lab Limited (NASDAQ:ZLAB) is a Chinese biotechnology firm that develops treatments for cancers, immune system disorders, and infectious diseases.

Bridgewater Associates owned 158,488 Zai Lab Limited (NASDAQ:ZLAB) shares during Q3 2021. These were worth $16.7 million and represented 0.09% of its portfolio. Of the 867 hedge funds part of Insider Monkey’s research, 36 owned the company’s shares by Q3 2021 end.

As of December 10, 2021, Zai Lab Limited (NASDAQ:ZLAB) shares were trading at $65.51.

Zai Lab Limited (NASDAQ:ZLAB) brought in $43 million in revenue and -$1.01 in GAAP EPS for its Q3, beating analyst estimates for EPS only. Citi raised its price target to $231 from $217 in December 2021, highlighting that the company’s ovarian cancer treatments are impressive during trials.

Andreas Halvorsen’s Viking Global is Zai Lab Limited (NASDAQ:ZLAB)’s largest investor. It owns 2.9 million shares worth $309 million.

Zai Lab Limited (NASDAQ:ZLAB) was mentioned by Baron Funds in its Q3 2021 investor letter which outlined that:

“Zai Lab Limited is a leading biotechnology company helping to modernize the Chinese health care industry. Zai’s initial focus centered around in-licensing western medicines for commercialization in China; this has expanded into internal pipeline efforts. Shares fell alongside the broader Chinese equity markets given concerns around regulations the government has enacted in education, technology, and real estate. While we are paying attention to these developments, so far, we think health care will not be subject to any draconian rulings.”