In this article, we will discuss the 5 best Biotech stocks under $10. To read the sector analysis, risk/reward, and methodology for the list, go directly to the 10 Best Biotech Stocks Under $10.
5. Nuvation Bio Inc. (NYSE:NUVB)
Number of Hedge Fund Holders: 28
Total Value: $204.89 million
Share Price as of August 30: $2.75
Nuvation Bio Inc. (NYSE:NUVB), a biotech firm situated in New York, aims to create cutting-edge treatments for treatment-resistant cancers. The firm has a market cap of $600.17 million.
On August 22, Robert Burns, an analyst at H.C. Wainwright kept a buy rating and lowered the firm’s price target from $14 to $4.50.
In August 2022, Nuvation Bio declared that it would discontinue the clinical development of NUV-422 and put more emphasis on the development of its small molecule DDC platform and NUV-868.
Avidity Partners Management is the largest shareholder in Nuvation Bio Inc. (NYSE:NUVB). For the second quarter, Nuvation Bio Inc. (NYSE:NUVB) reported earnings per share of -$0.14, missing estimates by $0.03.
4. Kezar Life Sciences, Inc. (NASDAQ:KZR)
Number of Hedge Fund Holders: 28
Total Value: $231.68 million
Share Price as of August 30: $9.84
Based in California, the biotech firm Kezar Life Sciences, Inc. (NASDAQ:KZR) develops therapies for cancer and immunological disorders. The company focuses on using small cell molecules to target diseases. In June, following the release of results from its Phase II clinical trial examining the use of zetomipzomib for the treatment of Lupus Nephritis, Kezar Life Sciences, Inc. (NASDAQ:KZR) shares increased by 92%.
As of August 2022, the company had a market cap of $672.75 million. Suvretta Capital Management is the largest shareholder in Kezar Life Sciences, Inc. (NASDAQ:KZR). For the second quarter, the company reported earnings per share of -$0.25, beating estimates by $0.03.
According to Insider Monkey’s Q2 data, 28 hedge funds had stakes in Kezar Life Sciences, Inc. (NASDAQ:KZR). The total value of the holdings is $231.68 million.
3. ImmunoGen, Inc. (NASDAQ:IMGN)
Number of Hedge Fund Holders: 28
Total Value: $361.65 million
Share Price as of August 30: $5.75
Headquartered in Waltham, Massachusetts, ImmunoGen, Inc. (NASDAQ:IMGN) is a biotech company. The company has a diverse range of therapeutic products for cancers. The company is expecting the FDA decision for mirvetuximab in November. ImmunoGen, Inc. (NASDAQ:IMGN) continues to build strategic partnerships and the company’s deal with Oxford BioTechnologies will support further growth.
RA Capital Management is the largest shareholder in ImmunoGen, Inc. (NASDAQ:IMGN) with shares worth $97.83 million. For the second quarter, the company reported earnings per share of -$0.24, missing estimates by $0.03.
According to Insider Monkey’s Q2 data, 28 hedge funds had stakes in ImmunoGen, Inc. (NASDAQ:IMGN). The total value of the holdings is $361.65 million.
2. Roivant Sciences Ltd. (NASDAQ:ROIV)
Number of Hedge Fund Holders: 28
Total Value: $955.74 million
Share Price as of August 30: $3.50
Roivant Sciences Ltd. (NASDAQ:ROIV) is a biotech company with a pipeline for developing cancer therapeutics and immunological diseases. The company made headlines when it received FDA approval for VTAMA cream on May 24. VTMA cream is the first steroid-free treatment approved by the regulatory body for psoriasis.
Neena Bitritto-Garg, an analyst from Citi, kept a buy rating for the company and raised the target price from $9 to $10. According to the analyst, the product pipeline if moving at the expected pace which is a positive sign for Roivant Sciences Ltd. (NASDAQ:ROIV).
According to Insider Monkey’s Q2 data, 28 hedge funds had stakes in Roivant Sciences Ltd. (NASDAQ:ROIV). The total value of the holdings is $955.76 million.
1. IVERIC bio, Inc. (NASDAQ:ISEE)
Number of Hedge Fund Holders: 41
Total Value: $489.20 million
Share Price as of August 30: $9.99
IVERIC bio, Inc. (NASDAQ:ISEE) is a biotech company that focuses on age-related retinal diseases. The firm has a market cap of $1.18 billion. As of August 2022, Kurt Von Emster’s VenBio Select Advisor is the largest shareholder with shares worth $68.49 million.
Eliana Merle, an analyst from UBS, kept a buy rating for the company with the price target price of $20. If Zimura is effective in the next GATHER2 Phase 3 topline in geographic atrophy expected in September, the analyst is bullish on the company’s prospects.
According to Insider Monkey’s Q2 data, 41 hedge funds had stakes in IVERIC bio, Inc. (NASDAQ:ISEE). The total value of the holdings is $489.20 million.
You can also look at Top 10 Technology Stocks to Buy According to Billionaire Cliff Asness and Donald Yacktman’s Latest Portfolio: Top 10 Stock Picks.
