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

3. RAPT Therapeutics, Inc. (NASDAQ:RAPT)

Jim Simons’ Euclidean Capital’s Stake Value: $19,722,000

Percentage of Jim Simons’ Euclidean Capital’s 13F Portfolio: 9.58%

Number of Hedge Funds: 19

RAPT Therapeutics, Inc. (NASDAQ:RAPT) is developing and commercializing therapeutics to fulfill the unmet needs in oncology and inflammatory diseases. The company utilizes its proprietary drug discovery and development mechanism to modulate the immune responses underlying these diseases.

In a report issued to investors on December 9, Anupam Rama at JPMorgan initiated coverage on RAPT Therapeutics, Inc. (NASDAQ:RAPT) with an Overweight rating and a price target of $61. The target price can yield investors a potential upside of over 169%. The analyst thinks that the stock is undervalued and does not even fully incorporate the impact of RPT193 in atopic dermatitis. This means that the value of experimental cancer therapy FLX475 is “essentially a free option” to the investors of RAPT Therapeutics, Inc. (NASDAQ:RAPT). The analyst is expecting the San Francisco, California-based entity to continue its focus on RPT193 in the treatment of atopic dermatitis and get more validation regarding its biologic activity and efficacy through oral dosing convenience in the “large and growing market.”

RAPT Therapeutics, Inc. (NASDAQ:RAPT) has been part of Jim Simons’ portfolio since Q4 2020. The stock is down over 38% (YTD) as of January 28 and provides an attractive entry point for potential investors.