5 Biotech Stocks To Buy According To Chinese Billionaire Lei Zhang

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In this article, we discuss 5 biotech stocks to buy according to Chinese billionaire Lei Zhang. If you want our detailed analysis of these stocks, go directly to 10 Biotech Stocks To Buy According To Chinese Billionaire Lei Zhang

5. Cytek Biosciences, Inc. (NASDAQ:CTKB)

Hillhouse Capital Management’s Stake Value: $187,488,000

Percentage of Hillhouse Capital Management’s 13F Portfolio: 2.45%

Number of Hedge Fund Holders: 13

Cytek Biosciences, Inc. (NASDAQ:CTKB) is a biotech company specializing in cell analysis to develop treatments for cancer, in addition to cell biology research. Chinese billionaire Lei Zhang acquired a position in Cytek Biosciences, Inc. (NASDAQ:CTKB) in the third quarter, buying 8.75 million shares of the company, worth $187.4 million. The stock accounts for 2.45% of the billionaire’s investments for Q3. 

A total of 13 hedge funds were long Cytek Biosciences, Inc. (NASDAQ:CTKB) at the end of September, with stakes valued at $524.5 million. Peter Kolchinsky’s RA Capital Management is the biggest Cytek Biosciences, Inc. (NASDAQ:CTKB) stakeholder, holding 9.60 million shares worth $205.6 million. 

On November 8, Cytek Biosciences, Inc. (NASDAQ:CTKB) announced earnings for the third quarter, posting an EPS of $0.01, missing estimates by $0.01. Revenue over the period equaled $34.38 million, exceeding estimates by $1 million. 

Cowen transferred coverage of Cytek Biosciences, Inc. (NASDAQ:CTKB) on October 14 to analyst Max Masucci, who maintained an Outperform rating on the name.

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