Chen Reveals His Picks for Last Quarter

Source: Streetwise Reports  (10/11/22)

Asset manager Chen Lin’s picks for the home stretch of 2022 include several biotechs and some precious metals companies.

Amyris Inc.

Another returning pick for Chen is Amyris, Inc. (AMRS:NASDAQ), asynthetic biotech company that “programs” cells to create sustainable ingredients.

The company has begun production at its new precision sugar fermentation plant in Brazil.

The plant consists of five precision fermentation “mini-factories” that can produce 13 of Amyris’ molecules, which are used in everything from health and beauty products to flavors and fragrances.

Amyris is a frontrunner for US$1 billion the U.S. Department of Defense will be investing in the bioindustrial domestic manufacturing infrastructure over the next five years.

It’s part of the US$2 billion the U.S. government plans to spend to boost biomanufacturing under an executive order announced last month.

“The decision could come in the next couple of months,” Chen said. “In addition, AMRS’ own lines of business are on fire . . . 2023 should be the year they turn cash positive.”

Amyris’ top shareholders include Foris Ventures LLC at 22.86%, Farallon Capital Management LLC at 6.56%, The Vanguard Group Inc. at 5.9%, Koninklijke DSM NV at 5.16%, and BlackRock Institutional Trust Co. N.A. who holds 3.68%.

Its market cap is US$846.26 million, and it has 323.4 million shares outstanding, 227.6 million of them free-floating. It trades in a 52-week range of US$15.12 and US$1.47.

Synaptogenix Inc.

A new pick for Chen is Synaptogenix Inc. (SNPX:NASDAQ), a biopharmaceutical company developing Bryostatin-1 for Alzheimer’s disease.

The company is just about to report data from its Phase 2 trials, which were partially funded by the National Institutes of Health.

“This trial, if successful, would open up a brand new approach to reverse Alzheimer’s,” Chen said.

The stock is a “very high-risk play,” he said, but he owns “a small position here as a lottery ticket.”

Top shareholders include Intracoastal Capital LLC at 7.17%, Alpha Capital Aktiengesellschaft at 4.41%, George Weaver Haywood at 3.44%, The Vanguard Group at 3.17%, and Ikarian Capital LLC at 1.77%.

The company’s market cap is US$48.23 million, with 6.84 million shares outstanding, 5.76 million of them free-floating. It trades in a 52-week range of US$14.50 and US$3.79.

GoGold Resources Inc.

GoGold Resources Inc. (GGD:TSX) is a Nova Scotia-based silver and gold producer operating in Mexico. It operates the Parral Tailings mine in the state of Chihuahua and has the Los Ricos South and Los Ricos North exploration projects in the state of Jalisco.

Chen said he took advantage of a big dip in its price recently to load up on his position.

“GGD has . . . cash, a silver-producing mine, and a new discovery,” he said. “It looks very undervalued.”

Ownership includes Bradley H. Langille with 5.22%, Van Eck Associates Corp. with 4.41%, Franklin Advisers Inc. with 4.35%, Sprott Asset Management LP with 3.1%, and Mirae Asset Global Investments (USA) LLC with 2.7%.

It has a market cap of CA$461.3 million, with 295.6 million shares outstanding, 275.2 million of them free-floating. It trades in a 52-week range of CA$3.79 and CA$1.37.

He said he also likes other silver producers such as Silver X Mining Corp. (AGX:TSX.V).

Chen Lin strongly recommends that investors load up on silver and silver miners for the coming tax loss selling season.

Axsome Therapeutics Inc.

Last quarter, Chen doubled down his top pick from Q2, Axsom Therapeutics Inc. (AXSM:NASDAQ), a biopharmaceutical company that focuses on therapies for central nervous system conditions.

The company had been waiting on decisions from the FDA on drug candidates for major depressive disorder and migraine.

The FDA has approved the major depressive disorder drug, Auvelity, and Chen said he sold out his position when it was at about US$70.

Axsome’s top shareholders include Antecip Capital LLC at 18.22%, The Vanguard Group Inc. at 6.95%, BlackRock Institutional Trust Co. N.A. at 4.99%, RTW Investments LP at 4.02%, and PFM Health Sciences LP at 3.38%.

It has a market cap of US$1.95 billion with 40.3 million shares outstanding, 32.3 million of them free-floating. It trades in a 52-week range of US$71.98 and US$20.63.

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