5 Best Biotech Stocks Under $6 in 2021

3. Eyenovia, Inc. (NASDAQ: EYEN)

Number of Hedge Fund Holders: 4
Price as of April 19, 2021: $4.86 per share

Eyenovia, Inc. (NASDAQ: EYEN) is a New York-based biotechnology firm that uses proprietary microdose array print (MAP) platform technology to develop therapeutics. The company is focusing on the development of therapeutic indications for patients with progressive myopia and age-related near vision impairment, as well as other eye-related problems. It also has a drug named MicroLine in the pipeline, which, if it passes clinical trials, will help the improvement of near vision in people with presbyopia. 

Another drug under development is MicroPine, which is in Phase III clinical development and will help people with pediatric myopia progression. The firm has already signed a deal with Bausch Health Ireland Limited to develop and sell MicroPine in the United States and Canada. It is placed third on our list of 10 best biotech stocks under $6 in 2021. Out of the hedge funds being tracked by Insider Monkey, Chicago-based Fairpointe Capital holds the most shares in the firm – 209,526 – worth more than $1.2 million.