Philippe Laffont’s Top 5 Stock Picks

3. Moderna, Inc. (NASDAQ:MRNA)

Coatue Management’s stake value: $1.19 billion

Percentage of portfolio: 8.72%

Number of hedge fund holders: 41

Shares of Moderna, Inc. (NASDAQ:MRNA) have lost almost half of their value in the past year amid concerns over slowing COVID-19 vaccine sales. Coatue Management saw the dip in its price as a buying opportunity, as the firm lifted its stake in the company by 62% during Q1.

Moderna’s latest results, solid outlook, and $18 billion of cash on its balance sheet make it an interesting pick for value investors. The company generated 9% year-over-year revenue growth in the June quarter and expects to extend that momentum into the second half of 2022. Additionally, the company’s announcement that it will repurchase $3 billion of its common stock suggests that the company also believes its stock is undervalued and poised for better days.

As of the end of March, Moderna was in 41 hedge funds’ portfolios. Heathbridge Capital Management was the leading stakeholder in the company.