5 Best Biotech and AI Stocks To Buy According To Billionaire Jim Simons

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In this article, we discuss 5 stock picks of Jim Simons’ Euclidean Capital. If you want to read our detailed analysis of Simons’ history, investment philosophy, and hedge fund performance, go directly to the 10 Stock Picks of Jim Simons’ Euclidean Capital.

5. Foghorn Therapeutics Inc. (NASDAQ:FHTX)

Jim Simons’ Euclidean Capital’s Stake Value: $17,569,000

Percentage of Jim Simons’ Euclidean Capital’s 13F Portfolio: 8.53%

Number of Hedge Funds: 7

Foghorn Therapeutics Inc. (NASDAQ:FHTX) is a clinical-stage biotech company developing therapeutics targeted at dependencies based on genes within the chromatin regulatory system. The Cambridge, Massachusetts-based corporation founded in 2016 has its proprietary Gene Traffic Control system that helps identify and validate different therapeutics inside the chromatin regulatory system.

FHD-286 is the lead candidate for Foghorn Therapeutics Inc. (NASDAQ:FHTX) at the Phase 1 trial. The drug has been developed to treat acute myeloid leukemia (AML) and myelodysplastic syndromes (MDS). Furthermore, Foghorn Therapeutics Inc. (NASDAQ:FHTX)  has joined hands with Loxo Oncology to co-develop and co-commercialize the BRM oncology program. Loxo Oncology is the research and development (R&D) wing of Eli Lilly and Company (NYSE:LLY). The partnership will bolster the oncology pipeline of Eli Lilly and provide Foghorn Therapeutics Inc. (NASDAQ:FHTX) assistance from a Big Pharma player.

In November 2021, Andrew Fein at H.C. Wainwright issued Foghorn Therapeutics Inc. (NASDAQ:FHTX) stock a Buy rating with a price target of $25. The analyst shared the potential for a new segment of cancer drugs that can be developed by targeting breakdowns in the chromatic regulatory network. He further added that the company has a “robust pipeline of earlier-stage assets.”

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