In this article, we discuss 5 best biotech stocks under $5. If you want to see some more stocks in this selection, click 10 Best Biotech Stocks Under $5.
5. Agenus Inc. (NASDAQ:AGEN)
Number of Hedge Fund Holders: 17
Share Price as of March 28: $2.7050
Agenus Inc. (NASDAQ:AGEN) is a clinical-stage immuno-oncology company based in Lexington, Massachusetts. The company is researching hematological malignancies, solid tumors, multiple myeloma, and viral ARDS.
On March 3, B. Riley analyst Mayank Mamtani reiterated a Buy rating on Agenus Inc. (NASDAQ:AGEN) shares, but lowered the price target to $8 from $11 following the company’s Q4 results. The analyst expects a meaningful stock turnaround on an improved visibility in the company’s “value-inflection points”, especially large pharma’s strategic interest in Agenus Inc. (NASDAQ:AGEN)’s pipeline.
Among the hedge funds tracked by Insider Monkey, 17 funds held long positions in Agenus Inc. (NASDAQ:AGEN), compared to 14 funds in the quarter earlier. D E Shaw is the largest stakeholder of the company, with more than 5 million shares worth $16.1 million.
4. Curis, Inc. (NASDAQ:CRIS)
Number of Hedge Fund Holders: 20
Share Price as of March 28: $2.3900
Curis, Inc. (NASDAQ:CRIS) is a Massachusetts-based biotechnology company that develops drug candidates for the treatment of human cancers. The company is currently in the clinical stages of discovering treatments for non-hodgkin lymphomas, acute myeloid leukemia, and myelodysplastic syndromes. The Q4 revenue of $3.14 million outperformed estimates by $203,200.
On March 2, Cantor Fitzgerald analyst Alethia Young maintained an Overweight rating on Curis, Inc. (NASDAQ:CRIS), while lowering the price target to $12 from $24. According to the analyst, while Curis, Inc. (NASDAQ:CRIS) shares have been under pressure in the past six months, key catalysts could receive regulatory clarity given significant development and more data in patients.
According to the fourth quarter database of Insider Monkey, 20 funds were bullish on Curis, Inc. (NASDAQ:CRIS), compared to 21 funds in the preceding quarter. Lee Ainslie’s Maverick Capital is the leading shareholder of the company, with 7.7 million shares worth $37 million.
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.
2. Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)
Number of Hedge Fund Holders: 30
Share Price as of March 28: $3.7450
Headquartered in Boston, Massachusetts, Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) is a biotechnology company that leverages genetic engineering to create bacteria for industrial use.
Cowen analyst Steven Mah initiated coverage of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) on March 2 with an Outperform rating and a $12 price target. According to the analyst, Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) has a notable advantage in scalable genetic engineering.
Among the hedge funds tracked by Insider Monkey, 30 funds were bullish on Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) at the end of December 2021, compared to 32 funds in the earlier quarter. The collective stakes held in Q4 amounted to $4.2 billion.
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.
