5 Best High Risk High Reward Stocks To Buy Now

In this piece, we will take a look at the five best high risk high reward stocks to buy now. If you want to take a look at what high risk investing is all about, then take a look at 12 Best High Risk High Reward Stocks To Buy Now.

5. Allogene Therapeutics, Inc. (NASDAQ:ALLO)

Number of Hedge Fund Investors In Q2 2023: 22

Latest P/S Ratio: 2,850

Allogene Therapeutics, Inc. (NASDAQ:ALLO) is an American biotechnology company that is developing cancer treatments. One of these treatments scored a big win in June when a phase one trial of a drug demonstrated a 42% response in six months.

As of Q2 2023, 22 out of the 910 hedge funds part of Insider Monkey’s database had held a stake in Allogene Therapeutics, Inc. (NASDAQ:ALLO). Out of these, the firm’s largest investor is Michael Rockefeller and Karl Kroeker’s Woodline Partners since it owns 5.3 million shares that are worth $26.4 million.

4. BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Number of Hedge Fund Investors In Q2 2023: 32

Latest P/S Ratio: 771

BridgeBio Pharma, Inc. (NASDAQ:BBIO) is a biotechnology company developing treatments for children with bone growth disorders. Its shares are rated Strong Buy on average and the firm has taken on pharma giant Pfizer in developing a drug for heart condition treatments.

By the end of June 2023, 32 out of the 910 hedge funds polled by Insider Monkey had invested in BridgeBio Pharma, Inc. (NASDAQ:BBIO). Andreas Halvorsen’s Viking Global is the company’s biggest stakeholder through its $457 million stake.

3. Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Number of Hedge Fund Investors In Q2 2023: 33

Latest P/S Ratio: 4,890

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) develops immune system drugs that enable it to fight cancer. It reported $238,000 in revenue for its second quarter, a significant improvement over the year ago quarter’s results since back then the revenue was $0.

After scouring through 910 hedge fund portfolios for 2023’s second quarter, Insider Monkey discovered 33 investors in the firm. Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s largest shareholder is Joseph Edelman’s Perceptive Advisors since it owns 14 million shares that are worth $98.8 million.

2. Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Number of Hedge Fund Investors In Q2 2023: 41

Latest P/S Ratio: 14,650

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) is a Canadian biotechnology company that develops treatments for nervous system disorders such as epilepsy. Its shares are rated Strong Buy on average with Wedbush and Cantor Fitzgerald maintaining Outperform and Overweight ratings in August 2023.

As June 2023 came to an end, 41 among the 910 hedge funds part of Insider Monkey’s research had invested in Xenon Pharmaceuticals Inc. (NASDAQ:XENE). Kurt Von Emster’s VenBio Select Advisor is the company’s biggest stakeholder courtesy of its $188 million stake.

1. Karuna Therapeutics, Inc. (NASDAQ:KRTX)

Number of Hedge Fund Investors In Q2 2023: 42

Latest P/S Ratio: 1,030

Karuna Therapeutics, Inc. (NASDAQ:KRTX) develops drugs for mental disorders such as schizophrenia. The firm’s loss per share widened in its second quarter, but its revenue is slated to grow by 62% over the next three years.

42 out of the 910 hedge funds part of Insider Monkey’s Q2 2023 database had bought the firm’s shares. Out of these, the largest Karuna Therapeutics, Inc. (NASDAQ:KRTX) investor is Andreas Halvorsen’s Viking Global since it owns $205 million worth of shares.

Disclosure: None.  You can also take a look at 11 Best Global Luxury Stocks to Buy and 12 Stocks That Will Always Grow.

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