5 Best Biotech Stocks Under $5

2. Voyager Therapeutics, Inc. (NASDAQ:VYGR)

Number of Hedge Fund Holders: 13

Price as of October 14, 2021: $4.40

Voyager Therapeutics, Inc. (NASDAQ:VYGR) is a Massachusetts-based biotechnology organization that is home to the proprietary RNA-based functional screening technology, TRACER. The technology helps in identifying distinct capsids that can target certain cells and tissues more effectively as opposed to the current methods. The company also has proprietary adeno-associated virus (AAV) capsids through TRACER technology.

Voyager Therapeutics, Inc. (NASDAQ:VYGR) has been in the limelight following an agreement with Pfizer Inc. (NYSE:PFE) that would allow the pharmaceutical giant to license drugs formulated as a result of Voyager’s RNA-driven TRACER screening technology. In exchange, Voyager Therapeutics, Inc. (NASDAQ:VYGR) would receive a $30 million payment upfront and milestone payments of $600 million along with sizeable royalties on net product sales.

Yanan Zhu, an analyst at Wells Fargo, commented that the licensing agreement between the two companies validates the TRACER screening technology and potentially opens the door to more such deals with other partners down the line. Investment firm Baird upgraded the stock from a Neutral to an Outperform rating and raised the target price from $6 to $9 based on this development.

At the end of the second quarter of 2021, 13 hedge funds in Insider Monkey’s database held stakes in Voyager Therapeutics, Inc. (NASDAQ:VYGR), worth $27.9 million, up from 9, worth $24.1 million in the preceding quarter.