5 Best Biotech Stocks Under $5

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1. EQRx, Inc. (NASDAQ:EQRX)

Number of Hedge Fund Holders: 31

Share Price as of March 28: $4.08

EQRx, Inc. (NASDAQ:EQRX) is an American biotechnology company specializing in oncology and immune-inflammatory diseases. In Q4 2021, 31 hedge funds reported owning stakes in EQRx, Inc. (NASDAQ:EQRX), collectively amounting to $775.6 million. 

On March 18, Jefferies analyst Akash Tewari initiated coverage of EQRx, Inc. (NASDAQ:EQRX) with a Buy rating and a $5.60 price target. Due to a “rough” market environment and regulatory complications for its pipeline, EQRx, Inc. (NASDAQ:EQRX) has “been a tough name to own,” the analyst noted. However, the stock is now trading at “close to 0” enterprise value and he sees long-term upside in its product pipeline, although their timelines may be delayed by about two years. 

You can also take a look at 10 Value Stocks Hedge Funds Like in 2022 and 10 Best High Dividend Stocks to Buy Now.

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