In this article, we will discuss the 10 Stocks under $10 that will triple.
As we delve into the discussion on stocks that will triple, we must shed light on the U.S. small-cap stocks, which are struggling amid broader market challenges due to ongoing shifts in tariff policy, affecting investors’ confidence. The Russell index (which tracks small-cap stocks) has fallen over 15% from its peak in November 2024 as of the time of writing this article and is down by nearly 19% on a YTD basis. However, the broader market, mostly consisting of large-cap stocks, has only dropped about 14% on a YTD basis. This gap shows how economic uncertainties and higher interest rates have more impact on smaller companies as they typically carry more debt and feel borrowing costs more acutely.
Furthermore, trade tensions have added to small-cap stocks’ volatility. Reuters reported that Trump’s new 25% tariffs on Canadian, Mexican, and Chinese imports rolled out on March 4, with more duties to be imposed by April 2. This measure affects nearly $2.2 trillion in trade and has sparked retaliatory tariffs from Canada and China, which have stoked inflation fears and triggered global market drops. As such, small-cap companies with international supply chains now face higher costs that could damage their profitability.
Yet, small-cap stocks might bounce back as Trump’s domestic economic growth agenda could benefit these U.S.-based companies. In addition, onshoring and increased capital expenditures (CAPEX) might boost the sector’s earnings. Furthermore, analysts believe that stabilizing inflation and easing interest rates could help small-caps recover in the second half of 2025.
As such, inflation seems to be leveling off, which is beneficial for small-cap companies. While high rates have pressured these debt-reliant companies, the Federal Reserve’s decision to slow rate hikes in late 2024 provided some breathing room. With inflation settling between 1% and 3%—historically complimentary for small-caps—the sector’s performance is expected to get a boost. Therefore, as financial market trends are settling, analysts expect small-cap earnings to outpace large-cap in 2025, especially later in the year.
A significant move that could be helpful for small-cap stocks is the recovery in mergers and acquisitions (M&A) and initial public offerings (IPOs). Even though deal activity slowed during recession fears, M&A rebounded in 2024 and is expected to continue in 2025. Historically, rising M&A activity has boosted returns across market caps and proven to be beneficial for small-caps, as it makes those companies acquisition targets, increasing investors’ interest.
Moreover, industry changes and technological advances offer more opportunities to small-cap companies. While the AI boom has mostly helped mega-cap tech industries, many smaller companies are crucial to AI infrastructure in terms of cybersecurity and thermal management. A 2023 PwC report valued the healthcare AI market at $11 billion, projecting its growth to $188 billion by 2030.
Despite the market challenges, some small-caps under $10 have beaten the broader market, showing resilience amid inflation and trade uncertainties. They show remarkable growth possibilities even as conditions fluctuate. Thus, the position of small-cap stocks looks strong, which is why we will now look at the 10 stocks under $10 that will triple.
Aerial view of a skyscraper contrasted against the rising sun.
Methodology
We chose consensus picks of credible websites and compiled a list of stocks priced at $10 or less that are expected to triple. Furthermore, we used a screener to identify stocks with a projected upside potential of over 300%. We have also assessed the hedge fund sentiment from Insider Monkey’s database of over 1,000 elite hedge funds tracked as of the end of the fourth quarter of 2024. The list is arranged in ascending order of the number of hedge fund holders in each stock.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
10. ImmunityBio, Inc. (NASDAQ:IBRX)
Upside Potential: 305.36%
Number Of Hedge Funds: 15
ImmunityBio, Inc. (NASDAQ:IBRX) is a clinical-stage biotech company developing immune-enhancing therapies for cancer and infectious diseases. It uses cutting-edge platforms like cytokine fusion proteins and cell therapies. The company has moved nine first-in-human treatments into clinical trials for solid and liquid tumors.
For the fourth quarter of 2024, revenue hit $7.55 million, a huge jump from just $0.14 million a year earlier. Although this fell short of what analysts expected, the company’s quarterly loss narrowed to $0.15 per share, better than the $0.19 per share loss in Q4 2023. As such, ImmunityBio, Inc. (NASDAQ:IBRX) has beaten predicted earnings in two of the last four quarters, showing improved financial health.
ImmunityBio, Inc. (NASDAQ:IBRX) is growing its footprint globally with key regulatory wins. The European Medicines Agency accepted the company’s application for ANKTIVA, a crucial step toward potential approval in 30 countries. This follows the company’s previous submission to the UK’s Medicines and Healthcare Products Regulatory Agency. Moreover, the company also got a permanent J-code for ANKTIVA starting January 2025, making insurance claims easier and expanding U.S. patient access.
With its improving financials and regulatory approvals, ImmunityBio (NASDAQ:IBRX) stands out among stocks that will triple. It has scaled production well, with over 125,000 ANKTIVA doses available, which now have a three-year shelf life, ensuring supply for both sales and trials. As it expands globally and advances its pipeline, ImmunityBio offers strong growth potential for biotech investors. As such, it is one of the stocks that will triple.
9. Intellia Therapeutics, Inc. (NASDAQ:NTLA)
Upside Potential: 333.88%
Number Of Hedge Funds: 31
Intellia Therapeutics, Inc. (NASDAQ:NTLA) develops gene-editing treatments for genetic diseases. Its main programs include NTLA-2001 for transthyretin amyloidosis (a heart and nerve disorder) and NTLA-2002 for hereditary angioedema (a rare swelling condition). The company is also creating cancer and autoimmune therapies through partnerships.
For Q4 that ended December 31, 2024, Intellia Therapeutics, Inc. (NASDAQ:NTLA) reported that revenue jumped to $12.9 million from negative $1.9 million in 2023, mainly from its Regeneron partnership. R&D costs rose to $116.9 million as it invested in key programs, whereas G&A costs increased to $32.4 million. As such, the company ended the year with $861.7 million in cash and securities, down from $1 billion in 2023, funding its late-stage clinical work.
Intellia Therapeutics, Inc. (NASDAQ:NTLA) continues its Phase III HAELO study for NTLA-2002 for hereditary angioedema, with enrollment expected to finish in late 2025. Nex-Z, formerly named NTLA-2001, is progressing through Phase III trials for ATTR amyloidosis with the MAGNITUDE cardiomyopathy study aiming to enroll over 550 heart patients by the end of the year. Recent Phase I data showed Nex-Z creating deep, lasting TTR reductions, suggesting it could significantly slow disease progression.
Furthermore, Intellia Therapeutics (NASDAQ:NTLA) plans to file BLAs between 2026-2028, targeting product launches from 2027-2030. Also, early 2025 brought a strategic shift, focusing on late-stage programs while dropping NTLA-3001. These changes should cut operating costs by 5-10% in 2025, saving money for commercialization.
Thus, with several advanced candidates, Intellia Therapeutics, Inc. (NASDAQ:NTLA) is set for major growth in gene editing, making it to our list of stocks that will triple.
8. Vir Biotechnology, Inc. (NASDAQ:VIR)
Upside Potential: 413.24%
Number Of Hedge Funds: 31
Vir Biotechnology, Inc. (NASDAQ:VIR) develops treatments for infectious diseases and cancer. The company uses the body’s immune system to fight diseases like solid tumors. It is working on experimental therapies targeting cancer cells precisely and developing PRO-XTEN technology to make cancer treatments safer and more efficient.
Despite revenue declines, Vir Biotechnology, Inc. (NASDAQ:VIR) showed operational improvements for Q4 and FY24. Q4 revenue was $12.4 million, down from $16.8 million a year earlier, whereas full-year revenue fell to $74.2 million from $86.2 million. The decline came from lower grant revenue and reduced profit-sharing under the GSK Agreement. At the same time, expenses dropped to $506.5 million for 2024 due to discontinued programs, though this was partly offset by a $102.8 million upfront payment to Sanofi. Likewise, General and Administrative expenses fell to $119.0 million from $174.4 million thanks to cost-saving efforts.
On the other hand, Vir Biotechnology, Inc. (NASDAQ:VIR) ended 2024 with $1.10 billion in cash and cash equivalents and investments, down $532.3 million over the year, mainly from strategic investments like the Sanofi licensing deal. Still, the company’s financial position remains strong, with cash projected to last into mid-2027.
Looking ahead, Vir Biotechnology, Inc. (NASDAQ:VIR) is advancing its immuno-oncology pipeline while simultaneously expanding into infectious diseases, as the company enrolled its first patient in the Phase 3 ECLIPSE program for chronic Hepatitis Delta. This strengthens the company’s late-stage portfolio and builds investor confidence.
As such, analysts see high upside potential for the stock based on its existing pipeline and partnerships, which have attracted hedge funds that are looking for long-term growth. Thus, Vir Biotechnology, Inc. (NASDAQ:VIR) is considered one of the stocks that will triple.
7. Arvinas, Inc. (NASDAQ:ARVN)
Upside Potential: 331.32%
Number Of Hedge Funds: 32
Arvinas, Inc. (NASDAQ:ARVN) develops treatments that break down disease-causing proteins using its PROTAC (Proteolysis Targeting Chimera) technology. The company’s main drugs target prostate cancer (Bavdegalutamide and ARV-766) and breast cancer (ARV-471), all in Phase 3 trials. Arvinas is also working on ARV-393 for B-cell malignancies, ARV-102 for brain diseases, and a KRAS G12D degrader still in lab testing.
Arvinas, Inc. (NASDAQ:ARVN)’s revenue jumped 235% to $263.4 million in 2024, up from $78.5 million in 2023. This surge came from Novartis agreements with revenue of $162.4 million and Pfizer collaborations with a boost of $21.7 million. However, cash reserves fell to $1,039.4 million from $1,266.5 million, mostly due to $237.4 million in operational spending, including a $41.5 million fee to end a lease.
Furthermore, general and administration costs shot up to $165.4 million from $100.3 million due to commercial growth and lease expenses. Still, Arvinas beat analysts’ expectations in Q4, posting losses of $0.63 per share versus the predicted loss of $1.07 per share.
Looking ahead, Arvinas, Inc. (NASDAQ:ARVN) is pushing forward with ARV-102, a PROTAC targeting LRRK2 for neurodegenerative diseases. Early Phase 1 data showed favorable brain penetration, with further results expected at an upcoming medical conference. Moreover, the company is reinforcing its pipeline with plans to file paperwork for a new drug application for its KRAS G12D degrader with regulators in 2025.
With oncoming clinical results, key partnerships, and advances in protein degradation, Arvinas, Inc. (NASDAQ:ARVN) remains significant in the biotechnology industry, ranking among the stocks that will triple.
6. Nuvation Bio Inc. (NYSE:NUVB)
Upside Potential: 301.02%
Number Of Hedge Funds: 34
Nuvation Bio Inc. (NYSE:NUVB), a clinical-stage biopharma company, develops innovative cancer treatments. The company’s lead drug, a ROS1 inhibitor taletrectinib, targets ROS1-positive lung cancer. Simultaneously, Nuvation is also extending its portfolio with safusidenib, which is a targeted inhibitor for brain tumors with IDH1 mutations, and NUV-1511, a drug-drug conjugate for advanced solid tumors.
Nuvation Bio Inc. (NYSE:NUVB) ensured robust financial health with $502.7 million in cash, cash equivalents, and marketable securities as of December 31, 2024. R&D spending hit $29.3 million in Q4 2024, reflecting a cost increase from the acquisition of AnHeart Therapeutics and ongoing clinical trials. On the other hand, selling, general, and administrative expenses rose to $26.1 million due to integration efforts and commercialization preparations, resulting in a net quarterly loss of $49.4 million or $0.15 per share.
Despite the troubled profitability, Nuvation Bio Inc. (NYSE:NUVB) turned a major cornerstone when the FDA granted a Priority Review to its New Drug Application (NDA) for taletrectinib, with a PDUFA goal date set for June 23, 2025. The drug already got regulatory approval in China, with sales handled by Innovent Biologics. In addition, the company also submitted a Marketing Authorization Application (MAA) in Japan. In the U.S., the company launched an Expanded Access Program for taletrectinib so that eligible patients can receive the drug before commercialization.
With substantial cash reserves and access to $250 million in non-dilutive financing from Sagard Healthcare Partners, Nuvation Bio Inc. (NYSE:NUVB) has the cash reserves to commercialize its drugs and develop new ones. As taletrectinib enters the U.S. market and the company’s cancer pipeline grows, it is positioned as one of the stocks under $10 that will triple. The company has a high potential for growth once it gets regulatory approval and successful commercialization of its drugs.
5. Gossamer Bio, Inc. (NASDAQ:GOSS)
Upside Potential: 457.52%
Number Of Hedge Funds: 35
Gossamer Bio, Inc. (NASDAQ:GOSS) develops targeted treatments for pulmonary arterial hypertension (PAH) and other serious conditions. This clinical-stage biotech company has its leading drug candidate in Phase 3 trials for PAH, with further studies expected to launch in 2025. The company is also growing its pipeline in immunology, inflammation, and cancer research.
Gossamer Bio, Inc. (NASDAQ:GOSS) cut its quarterly losses to $33 million ($0.15 per share) for Q4, beating the expectation of a $0.17 loss. This 11.76% earnings surprise shows a significantly improved performance from the company’s $48.1 million loss in the same quarter last year. For 2024, losses were reduced to $56.5 million from $179.8 million in 2023 due to efficient cost controls. Meanwhile, revenue hit $9.38 million in Q4, beating estimates by 19.63% compared to zero revenue generation a year earlier. As such, Gossamer’s cash reserves stood at $294.5 million as of the year-end, which management believes should sufficiently fund operations until 2027.
Furthermore, Gossamer Bio, Inc. (NASDAQ:GOSS) continues advancing its late-stage clinical work with key results from its PAH study expected to arrive in 2025. The company is also getting ready for possible regulatory submission with progress in other pipeline programs, supporting its growth outlook. Also, hedge funds are now bullish on the stock because of its promising pipeline.
Gossamer Bio, Inc. (NASDAQ:GOSS) stands out among the list of stocks under $10 that will triple. Thus, its clinical progress and strong financial standing make it an attractive small-cap investment option.
4. Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)
Upside Potential: 319.03%
Number Of Hedge Funds: 36
Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) develops targeted therapies for pediatric and adult diseases. The company works along multiple clinical-stage operations with its main product, an oral treatment for children with relapsed or refractory brain tumors. In addition, it is also advancing other drugs for various cancers in both age groups, which are still in the early testing phases.
Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) posted a net product revenue of $29 million in Q4 2024, with yearly sales hitting $57.2 million. The quarterly sales jumped 44% from the previous quarter, fueled by strong prescription growth after the product’s launch in April 2024. The company also earned $73.9 million in license revenue by selling commercial rights outside America. While operating costs increased, R&D expenses reached $227.7 million in 2024 due to milestone payments and ongoing studies. Despite these expenditures, Day One has a strong cash position at the end of 2024, with $531.7 million in cash.
In its clinical pipeline, Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) pushed forward with its Phase 3 trial for pediatric patients with expectations to finish enrollment by early 2026. Moreover, the company’s early-stage cancer drug completed initial dose testing. In addition, a new designation from the Centers for Medicare & Medicaid Services reduced its rebate obligations, boosting the company’s finances.
As such, Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) is catching the attention of analysts and hedge funds, thanks to its growing sales and expanding pipeline. While rising prescriptions and late-stage progress strengthen its upside potential, the solid cash position allows it to rank among stocks under $10 that will triple.
3. Relay Therapeutics, Inc (NASDAQ:RLAY)
Upside Potential: 490.23%
Number Of Hedge Funds: 37
Relay Therapeutics, Inc. (NASDAQ:RLAY) develops targeted treatments for cancer and genetic diseases. The company speeds up drug discovery using cutting-edge computational tools and experimental technologies. The company utilizes AI and ML to find new drugs by blending computing power with cutting-edge lab data. This gives a unique insight into how proteins move and behave, which helps the company discover promising candidates that can be used to create innovative therapies.
For FY24, Relay Therapeutics, Inc. (NASDAQ:RLAY) brought in $10 million in revenue, down from $25.5 million in 2023. The main reason for this decline was milestone payments from the company’s license agreements. However, Relay ended Q4 with $781.3 million in cash and investments, a substantial reserve to continue with the ongoing clinical trials. The R&D costs reached $319.1 million in 2024, slightly lower than the prior year, thanks to strategic prioritization, while the yearly net loss was $337.7 million, a small improvement from 2023.
Moreover, Relay’s late-stage cancer program continues to advance with a crucial clinical trial beginning in mid-2025. Early results look promising, showing better treatment responses and disease advancements. In addition, Relay Therapeutics, Inc. (NASDAQ:RLAY) is also exploring new drug combinations to improve effectiveness and increase treatment options.
Thus, Relay Therapeutics, Inc. (NASDAQ:RLAY) shows notable potential with steady cash reserves to fund its clinical programs, ongoing cancer research progress, and growing treatment possibilities. These factors make Relay one of the 10 stocks that will triple.
2. Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)
Upside Potential: 406.94%
Number Of Hedge Funds: 44
Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) is a commercial biotech company with a focus on autologous tumor-infiltrating lymphocyte (TIL) therapies. These therapies target metastatic melanoma and other solid tumor cancers. The company’s pipeline includes Amtagvi, an FDA-approved T-cell therapy for advanced melanoma, and Proleukin, an interleukin-2 product used to treat cancer. Iovance is pushing forward with lifileucel and LN-145 for non-small cell lung cancer and gynecological cancers, along with next-gen TIL therapies in clinical trials.
Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) showed solid performance in 2024 as its total product revenue hit $164.1 million, reaching the top end of its guidance. Amtagvi brought in $103.6 million, showing strong early adoption, while Proleukin added another $60.5 million. In Q4 alone, revenue was $73.7 million, with Amtagvi accounting for $48.7 million. For 2025, the company predicts product revenue between $450-475 million, driven by higher demand, more treatment centers, and continuous adoption.
Furthermore, Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) is growing globally as regulatory filings for Amtagvi are under review in the U.K., EU, and Canada, with approvals expected in 2025. The company is also running clinical trials for advanced melanoma and certain lung cancers that have not responded to immunotherapy, which could expand Amtagvi’s potential uses. Additionally, the company’s cell therapy plant expansion will soon support over 5,000 patients yearly.
Thus, with an expanded revenue base, market reach, and solid clinical progress, Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) ranks among the stocks that will triple.
1. Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)
Upside Potential: 421.89%
Number Of Hedge Funds: 45
Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) is a biotech company focusing on the development of gene therapies for rare and fatal diseases. The company’s solutions include ex vivo lentiviral vector treatments for Fanconi anemia, leukocyte adhesion deficiency-I, and pyruvate kinase deficiency. The company is also making progress in vivo AAV therapies that target Danon disease, plakophilin-2 arrhythmogenic cardiomyopathy (PKP2-ACM), and BAG3 dilated cardiomyopathy.
As of December 31, 2024, Rocket Pharmaceuticals (NASDAQ:RCKT) had $372.3 million in cash, substantial enough to sustain the company till Q3 2026. On the other hand, R&D costs fell to $171.2 million in 2024 from $186.3 million in 2023 due to lower manufacturing and development expenses. However, G&A costs rose to $102 million to prepare for commercialization. Although Rocket posted a net loss of $258.7 million, slightly worse than the previous year, it raised $182.5 million. This was through a public offering in December 2024, bolstering the company’s reserves for ongoing clinical work.
Moreover, Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has made critical clinical strides, especially with RP-A501 for Danon disease. The New England Journal of Medicine published its long-term data, highlighting the treatment’s lasting effect. The Phase 2 pivotal study continues, with updates expected to come by the first half of 2025. In addition, Rocket also finished enrolling patients in its Phase 1 trial for PKP2-ACM, with initial results expected this year. Its regulatory reviews are moving forward for KRESLADI (LAD-I) and RP-L102 (Fanconi anemia), setting the company up for approvals soon.
Thus, Rocket Pharmaceuticals (NASDAQ:RCKT) demonstrates a strong upside potential with its advanced gene therapies, targeting rare diseases that have few treatment options. Positive trial outcomes, regulatory approvals, and commercialization could significantly boost its value, making it one of the $10 stocks that will triple.
Overall, Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) ranks first on our list of the 10 Stocks Under $10 that Will Triple. While we acknowledge the potential of RCKT, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than RCKT but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.
