In this article, we discuss the 5 best biotech stocks under $20 in Cathie Wood’s portfolio. If you want to read our detailed analysis of these stocks, go directly to 10 Best Biotech Stocks Under $20 in Cathie Wood’s Portfolio.
5. Cerus Corporation (NASDAQ:CERS)
Number of Hedge Fund Holders: 17
Share price as of November 24: $7.17
Cerus Corporation (NASDAQ:CERS) supplies tech-powered blood systems to hospitals and blood centers. The company’s product is available in the US, Canada, Asia, Europe, Africa, and the Middle East.
The California-based company is one of the cheapest biotech stocks in Cathie Wood’s portfolio. ARK Investment Management owned 17 million shares of Cerus Corporation (NASDAQ:CERS) worth more than $104 million at the end of the September quarter. Cerus Corporation (NASDAQ:CERS) represents 0.24% of ARK’s funds.
The biotech company’s revenue climbed 44% year over year to $42.1 million in the third quarter of 2021. The company saw increased sales of its INTERCEPT platelet products in the US. Cerus Corporation (NASDAQ:CERS) stock jumped 17.5% on November 3 after the company raised its sales forecast for 2021 to $127 million to $129 million from $118 million to $122 million.
By the end of the third quarter, 17 hedge funds had a $244 million stake in Cerus Corporation (NASDAQ:CERS), compared to 19 in the previous quarter with a $249 million stake.
4. Quantum-Si incorporated (NASDAQ:QSI)
Number of Hedge Fund Holders: 10
Share price as of November 24: $6.50
Cathie Wood increased her stake in Quantum-Si incorporated (NASDAQ:QSI) by 214% at the end of the third quarter. This brings the fund’s total shares to over 12.6 million worth $106 million. The biotech stock represents 0.25% of the ARK Investment Management fund at the end of the September quarter.
Quantum-Si incorporated (NASDAQ:QSI) develops protein sequencing platforms powered by its own semiconductor. By 2022, the company plans to commercialize its semiconductor, hopping in the $21 billion proteomics industry.
In October, the biotech company announced the expansion of its early access programs to ten, with five additional sites. The company also recently acquired Pennsylvania-based semiconductor packaging company Majelac Technologies LLC.
By the end of the September quarter, 10 hedge funds owned shares of Quantum-Si incorporated (NASDAQ:QSI) worth $139 million, compared to 19 in the previous quarter.
3. Compugen Ltd. (NASDAQ:CGEN)
Number of Hedge Fund Holders: 13
Share price as of November 24: $4.61
Another cheap biotech stock in Cathie Wood’s portfolio is Compugen Ltd. (NASDAQ:CGEN), a clinical-stage drug discovery company. The Israeli company is co-developing immuno-oncology pipelines with Bristol-Myers Squibb Company, Bayer AG, and AstraZeneca PLC.
Compugen Ltd. (NASDAQ:CGEN) accounted for 0.14% of the ARK Investment Management fund as of the end of the September quarter, with over 9.8 million shares worth $58.7 million.
Compugen Ltd. (NASDAQ:CGEN) reported an EPS of -0.07 in the third quarter, beating estimates by $0.05. The company’s revenue in the quarter was $6 million.
There were 13 hedge funds that held a position in Compugen Ltd. (NASDAQ:CGEN) worth $79.6 million at the end of the third quarter, up from 11 in the previous quarter worth $126 million.
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.
1. Evogene Ltd. (NASDAQ:EVGN)
Number of Hedge Fund Holders: 6
Share price as of November 24: $2.02
Evogene Ltd. (NASDAQ:EVGN) is a computational biology company based in Israel. The company develops a Computational Predictive Biology (CPB) platform used in cancer drug discovery. The CPB platform has also agriculture and industrial application.
In October, Evogene Ltd.’s (NASDAQ:EVGN) subsidiary, Canonic, launched its medical marijuana products. Roth Capital analyst Brian Wright highlighted the company’s medical cannabis commercialization and initiated a Buy rating on Evogene Ltd. (NASDAQ:EVGN) with a $7 price target.
At the end of the third quarter of 2021, 6 hedge funds in the database of Insider Monkey held stakes worth $13 million in Evogene Ltd. (NASDAQ:EVGN), compared to 7 in the previous quarter worth $18 million.
Cathie Wood’s ARK Investment Management is the leading stakeholder of the biotech company. Latest filings show that ARK Investment Management owned over 4 million shares of Evogene Ltd. (NASDAQ:EVGN) at the end of the third quarter of 2021 worth $10.6 million, representing 0.02% of the portfolio.
You can also take a peek at Amit Nitin Doshi’s Harbor Spring Capital Portfolio: Top 10 Stock Picks and Why These 10 Stocks Trended This Week.
