5 Best Biotech Stocks Under $20 in Cathie Wood’s Portfolio

2. Purple Biotech Ltd. (NASDAQ:PPBT)

Number of Hedge Fund Holders: 2

Share price as of November 24: $4.04

ARK Investment Management’s fund owned 736 million shares of Purple Biotech Ltd. (NASDAQ:PPBT) in the third quarter. The total value of this stake is $3.4 million. The Israel-based biotech company develops a drug pipeline for cancer treatment. The company also produces Consensi, an oral drug used to treat pain and hypertension.

On October 22, the stock rose 5% following the publication of a study that backed the company’s cancer treatment. The study highlighted positive results when NT219 and EGFR inhibitors were used together. The results include tumor shrinkage and delayed recurrence after treatment was stopped. Shares of Purple Biotech Ltd. (NASDAQ:PPBT) increased 6.56% year to date.

Among the 873 elite funds tracked by Insider Monkey, 2 hedge funds reported owning stakes in Purple Biotech Ltd. (NASDAQ:PPBT) at the end of the third quarter worth over $4.6 million.