Cathie Wood’s 5 Favorite Stock Picks for the Rest of 2022

3. SomaLogic, Inc. (NASDAQ:SLGC)

Number of Hedge Fund Holders: 37

SomaLogic, Inc. (NASDAQ:SLGC) was incorporated in 1999 and is headquartered in Boulder, Colorado. It operates as a protein biomarker discovery and clinical diagnostics company in the United States. Cathie Wood’s hedge fund added SomaLogic, Inc. (NASDAQ:SLGC) to its portfolio in Q2 2022 by purchasing 300,000 shares of the company worth $274,000. 

On June 23, Cowen analyst Dan Brennan reiterated an Outperform rating on SomaLogic, Inc. (NASDAQ:SLGC) and lowered the firm’s price target on the stock to $11 from $14. The analyst said that SomaLogic, Inc. (NASDAQ:SLGC) is positioned to survive bottlenecks created by existing tools to analyze the proteome. He sees the resilience of growth since the massive market for SomaLogic, Inc. (NASDAQ:SLGC) is underappreciated.

According to Insider Monkey’s data, 37 hedge funds were bullish on SomaLogic, Inc. (NASDAQ:SLGC) at the end of March 2022, with collective stakes worth $434.5 million. Eli Casdin’s Casdin Capital is the biggest shareholder of the company, with 12.3 million shares worth $99.3 million.