Checking in With Seven Proteomics Stocks

ChatGPT writes a few canned emails and the market goes mental because generative AI is finally here. Where was the hype when Google’s DeepMind bested a top-ranking Go player, an incredible accomplishment described in the excellent free documentary AlphaGo? When those same algorithms then mastered the ability to fold all known proteins, the market hardly raised an eyebrow. But a mediocre chatbot with a clear political bias, and deep-rooted desire not to offend anyone, appears to have turned the entire stock market around. Such is life.

After mastering Go, DeepMind’s AlphaFold predicted the structure of almost every protein known to science, cracking one of the grand challenges of biology, and ushering mankind into a golden age of protein optimization. That was the idea anyways, and at least seven publicly traded companies focusing on proteins – what’s called proteomics – drew the attention of investors who saw a goldmine of opportunity. Then the bear market hit, and everyone started tightening their purse strings and setting aside “nice to have” projects in favor of those that impact the top or bottom lines.

As the Nasdaq sits at just 10% below all-time highs, investors are left wondering if this is the start of another bull market or a dead cat bounce. Who knows, but today we’re here to look at what’s been happening since our August 2022 piece on Seven Proteomics Stocks: Finding the Best One. For starters, here’s how the market caps of these proteomics firms have changed since our last piece.