Top 5 Stock Picks of Eli Casdin’s Casdin Capital

In this article, we discuss the top 5 stock picks of Eli Casdin’s Casdin Capital. If you want to read our detailed analysis of Casdin’s investment philosophy and performance, go directly to Top 10 Stock Picks of Eli Casdin’s Casdin Capital.

5. MaxCyte, Inc. (NASDAQ:MXCT)

Casdin Capital’s Stake Value: $66,084,000
Percentage of Casdin Capital’s 13F Portfolio: 5.58%
Number of Hedge Fund Holders: 10

MaxCyte, Inc. (NASDAQ:MXCT), a worldwide life sciences company, is involved in the research, development, and commercialization of novel cell therapies. Following MaxCyte, Inc. (NASDAQ:MXCT)’s “beat and raise” Q2 report on August 14, BTIG analyst Mark Massaro increased his price target on the stock to $11 from $10 and maintained a ‘Buy’ rating on the shares.

Comprising of 13.97 million shares, Casdin Capital’s stake in MaxCyte, Inc. (NASDAQ:MXCT) at the end of the second quarter was worth $66.08 million. The stock accounts for 5.58% of the fund’s total 13F portfolio. Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Casdin Capital is the leading shareholder of MaxCyte, Inc. (NASDAQ:MXCT).

According to Insider Monkey’s data, 10 hedge funds were long MaxCyte, Inc. (NASDAQ:MXCT) at the end of Q2 2022, compared to 12 funds in the prior quarter.

Here is what Baron Funds, an asset management firm, had to say about MaxCyte, Inc. (NASDAQ:MXCT) in its Q2 2022 investor letter:

“During the quarter, we exited MaxCyte, Inc., an early-stage cell and gene therapy tools company, whose value largely depends on milestone payments and commercialized product revenues of its customers.”

4. Relay Therapeutics, Inc. (NASDAQ:RLAY)

Casdin Capital’s Stake Value: $68,149,000
Percentage of Casdin Capital’s 13F Portfolio: 5.76%
Number of Hedge Fund Holders: 17

Relay Therapeutics, Inc. (NASDAQ:RLAY) is a clinical-stage precision medicine firm. Research & development costs of Relay Therapeutics, Inc. (NASDAQ:RLAY) were $60.5 million in the second quarter of 2022, up from $45.1 million in the same period the previous year. The company has five ongoing discovery projects, with three of them being cancer-related. Two more are for diseases that run in families.

Barclays analyst Peter Lawson initiated coverage on Relay Therapeutics, Inc. (NASDAQ:RLAY) on September 30, assigning the stock an ‘Equal Weight’ rating and a $23 price target. Biotechnology Value Fund / BVF Inc is Relay Therapeutics, Inc. (NASDAQ:RLAY)’s largest shareholder, with shares worth $73.45 million.

Casdin Capital owned 4.07 million shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) in the second quarter, worth $68.15 million and representing 5.76% of the fund’s total portfolio. The hedge fund elevated its position in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 6% in Q2 2022.

According to Insider Monkey’s data, 17 hedge funds held stakes in Relay Therapeutics, Inc. (NASDAQ:RLAY) during the second quarter of 2022, collectively worth $349.36 million. This is down from 18 hedge funds in the preceding quarter with stakes worth $587.71 million in the company.

3. BioLife Solutions, Inc. (NASDAQ:BLFS)

Casdin Capital’s Stake Value: $104,490,000
Percentage of Casdin Capital’s 13F Portfolio: 8.83%
Number of Hedge Fund Holders: 10

BioLife Solutions, Inc. (NASDAQ:BLFS) develops, produces, and sells instruments for biologically preserving cells and tissues. On August 10, Max Masucci, a Cowen analyst, cut his price objective on BioLife Solutions, Inc. (NASDAQ:BLFS) from $32 to $29 while maintaining an ‘Outperform’ rating for the stock. Although he expected further SMID-cap volatility, the analyst believed the firm had solid long-term growth and profitability prospects.

On October 11, CSafe and BioLife Solutions, Inc. (NASDAQ:BLFS) announced a new partnership to provide a combined global service network to support CGT products with a focus on improved reliability, security, and quality. CSafe is one of the largest active and passive temperature-controlled shipping solutions providers for pharmaceuticals.

According to regulatory data for the second quarter, Casdin Capital owned 7.57 million shares of BioLife Solutions, Inc. (NASDAQ:BLFS) worth $104.49 million. The fund first bought a stake in the firm in the second quarter of 2018. In total, 10 hedge funds were bullish on BioLife Solutions, Inc. (NASDAQ:BLFS) in the second quarter, down from 12 a quarter ago. Casdin Capital is the most significant shareholder of the company.

2. Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

Casdin Capital’s Stake Value: $117,409,000
Percentage of Casdin Capital’s 13F Portfolio: 9.92%
Number of Hedge Fund Holders: 40

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) is a bio-pharmaceutical firm specialising in the discovery, development, and commercialization of new medicines based on ribonucleic acid interference. VenBio Select Advisor held a $198.36 million stake in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) during the second quarter consisting of 1.36 million shares, making it the top shareholder of the firm.

After Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) released additional data from the APOLLO-B trial on October 3, Jefferies analyst Maury Raycroft increased his price target on Alnylam to $232 from $218 and reiterated a ‘Buy’ rating on the shares. He reassured the investors by stating that the totality of the research demonstrated consistency of benefit across all sub-groups.

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) is the second largest stock holding of Eli Casdin’s Casdin Capital as of the second quarter. Casdin owned 805,000 shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) valued at $117.41 million, which represented 9.92% of the fund’s overall portfolio.

40 hedge funds reported bullish bets on Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) in Q2 2022, with aggregate holdings worth $775.05 million. In contrast, 38 hedge funds were bullish on the stock a quarter ago.

1. EQRx, Inc. (NASDAQ:EQRX)

Casdin Capital’s Stake Value: $185,385,000
Percentage of Casdin Capital’s 13F Portfolio: 15.67%
Number of Hedge Fund Holders: 26

EQRx, Inc. (NASDAQ:EQRX), a pharmaceutical company, develops pharmaceuticals primarily for the treatment of cancer and immune-inflammatory illnesses. A ‘Neutral’ rating was reiterated on EQRx, Inc. (NASDAQ:EQRX) by JPMorgan analyst Chris Schott on August 16. The analyst also placed a $5.50 price target on the stock.

There were 26 hedge funds long EQRx, Inc. (NASDAQ:EQRX) in the second quarter of 2022, with a total stake value of $355.51 million. In comparison, 38 hedge funds were bullish on the stock in the previous quarter, with a total stake value of $494.29 million.

EQRx, Inc. (NASDAQ:EQRX) stands first on the list of top 10 stock picks of Eli Casdin’s Casdin Capital. According to the 13F filings for the second quarter of 2022, the hedge fund held 39.53 million shares of EQRx, Inc. (NASDAQ:EQRX), amounting to more than $185.39 million and representing 15.67% of the fund’s portfolio.

You can also take a peek at Top 9 Stock Picks of Eduardo Costa’s Calixto Global Investors and Top 10 Stock Picks of Roberto Mignone’s Bridger Management.

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