5 Best Biotech Stocks Under $10

2. Aeglea BioTherapeutics, Inc. (NASDAQ: AGLE)

Number of Hedge Fund Holders: 16

Aeglea BioTherapeutics, Inc. (NASDAQ: AGLE) is a clinical-stage biotechnology company that develops enzyme therapies for rare metabolic diseases. The company was founded in 2013 and has headquarters in Texas, U.S. It ranks second on our list of the best biotech stocks under $10.

Earlier this year, Aeglea BioTherapeutics, Inc. (NASDAQ: AGLE) signed an agreement with a Swedish pharmaceutical company, Immedica Pharma AB to commercialize pegzilarginase for the treatment of Arginase 1 deficiency in Europe. The medicine is currently in phase 3 of development. At the end of Q2, Aeglea BioTherapeutics, Inc. (NASDAQ: AGLE) had available cash and cash equivalents of $130.4 million. In August, Evercore ISI initiated its coverage on Aeglea BioTherapeutics, Inc. (NASDAQ: AGLE) with a ‘Buy’ rating and a $20 price target.

Of the 873 hedge funds tracked by Insider Monkey, 16 hedge funds have positions in Aeglea BioTherapeutics, Inc. (NASDAQ: AGLE) as of Q2 2021. The total value of these stakes is $139.9 million. This number of hedge funds is compared with 18 hedge funds having stakes in the company, valued at $153.2 million. Samuel Isaly’s OrbiMed Advisors is the company’s leading shareholder with over 4 million shares, worth $27.9 million.