Cathie Wood and Steve Cohen Love These 5 Stocks

In this article, we discuss 5 stocks that Cathie Wood and Steve Cohen love. If you want to see more favorite stocks of the prominent hedge fund managers, click Cathie Wood and Steve Cohen Love These 10 Stocks. 

5. Twist Bioscience Corporation (NASDAQ:TWST)

ARK Investment Management’s Stake Value: $259,949,000

Point72 Asset Management’s Stake Value: $906,000

Number of Hedge Fund Holders: 16

Twist Bioscience Corporation (NASDAQ:TWST) is another favorite stock of Cathie Wood and Steve Cohen. The company sells synthetic DNA-based products. Cathie Wood’s ARK Investment Management held a $260 million position in Twist Bioscience Corporation (NASDAQ:TWST) in the first quarter of 2022, whereas Steve Cohen added the stock to his portfolio by purchasing 18,340 shares worth $906,000. 

On June 30, Barclays analyst Luke Sergott reiterated an Overweight rating on Twist Bioscience Corporation (NASDAQ:TWST) but lowered the price target on the shares to $40 from $60. The company reported an in-line quarter as opposed to Barclays’ expectations for a modest outperformance, the analyst informed investors. 

According to Insider Monkey’s data, 16 hedge funds were long Twist Bioscience Corporation (NASDAQ:TWST) at the conclusion of the first quarter of 2022, with collective stakes worth about $460 million. Marshall Wace LLP is the biggest shareholder of the company, with approximately 1.7 million shares valued at $83.7 million. 

Here is what Baron Funds has to say about Twist Bioscience Corporation (NASDAQ:TWST) in its Q2 2021 investor letter:

“We initiated a position in Twist Bioscience Corporation, a provider of synthetic DNA. The company’s proprietary semiconductor-based platform has driven its position as the low-cost provider of DNA for a variety of high-growth applications. These include the attractive areas of synthetic biology, liquid biopsy, and antibody discovery. Of note, the antibody business has the potential to become a source of high-margin royalty streams in the future.

As further optionality, we believe Twist has a shot at disrupting the entire digital data storage industry with DNA-based storage.”