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

4. Tenaya Therapeutics, Inc. (NASDAQ:TNYA)

Jim Simons’ Euclidean Capital’s Stake Value: $18,909,000

Percentage of Jim Simons’ Euclidean Capital’s 13F Portfolio: 9.19%

Number of Hedge Funds: 11

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) develops therapeutics for heart failure through cellular regeneration, gene therapy, and precision medicine. The San Francisco, California-based company is in the pre-clinical trial stage of developing multiple therapies for the treatment of heart diseases. Tenaya Therapeutics, Inc. (NASDAQ:TNYA) went public on July 30 and became a part of Jim Simons’ portfolio in Q3 2021.

Yasmeen Rahimi at Piper Sandler reiterated an Overweight rating on Tenaya Therapeutics, Inc. (NASDAQ:TNYA) stock with a $40 target price in a research note issued on January 11, following the company’s business update presentation. The analyst thinks that the new updates related to TN-201 have been missed by Wall Street and the drug is on its way to file an investigational new drug (IND) filing in the first six months of 2022 with the Food and Drug Administration (FDA) in the US. The IND filing aims to obtain permission from the filing to use an experimental drug on humans.

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) is targeting to file multiple INDs with the FDA and pivot from a pre-clinical stage biotech company towards a clinical-stage biotech player. This will create new avenues for Tenaya Therapeutics, Inc. (NASDAQ:TNYA) in terms of partnership and collaboration for its new drugs.