5 Best Biotech Stocks Under $5

3. Roivant Sciences Ltd. (NASDAQ:ROIV)

Number of Hedge Fund Holders: 23

Share Price as of March 28: $4.78

Roivant Sciences Ltd. (NASDAQ:ROIV) is a London-based biotechnology company that develops treatments for solid tumors, sickle cell diseases, oncologic malignancies, psoriasis, vitiligo, acne, thyroid eye diseases, and staph aureus bacteremia, among other diseases. The fourth quarter revenue for Roivant Sciences Ltd. (NASDAQ:ROIV) came in at $24.34 million, exceeding market consensus estimates by $14.48 million. 

On December 15, Goldman Sachs analyst Corinne Jenkins initiated coverage of Roivant Sciences Ltd. (NASDAQ:ROIV) with a Buy rating and a $15 price target, reflecting 82% upside potential. The analyst sees “considerable discovery value embedded” in Roivant Sciences Ltd. (NASDAQ:ROIV)’s pipeline, given core clinical and regulatory catalysts in the short-term. 

According to Insider Monkey’s Q4 data, 23 hedge funds placed long bets on Roivant Sciences Ltd. (NASDAQ:ROIV), with combined stakes amounting to $2.25 billion.