5 Best Medical Stocks Under $20

4. Roivant Sciences Ltd. (NASDAQ:ROIV)

Number of Hedge Fund Holders: 28

Share Price as of December 8: $6.84

Roivant Sciences Ltd. (NASDAQ:ROIV) is a London-based biopharmaceutical and healthcare technology company that researches and develops medicines for the treatment of solid tumors, sickle cell diseases, oncologic malignancies, psoriasis, vitiligo, acne, and staph aureus bacteremia, among others. Roivant Sciences Ltd. (NASDAQ:ROIV) on November 14 posted a Q3 revenue of $12.53 million, beating market estimates by $6.83 million. As of September 30, the company had cash, cash equivalents, and restricted cash of approximately $1.6 billion. 

On November 15, Citi analyst Neena Bitritto-Garg raised the price target on Roivant Sciences Ltd. (NASDAQ:ROIV) to $11 from $10 and maintained a Buy rating on the shares following the fiscal Q2 results. The analyst believes Roivant Sciences Ltd. (NASDAQ:ROIV)’s recent share price momentum could continue into the first half of 2023.

According to Insider Monkey’s data, 28 hedge funds were long Roivant Sciences Ltd. (NASDAQ:ROIV) at the end of Q3 2022, and Daniel Gold’s QVT Financial is the leading position holder in the company, with 129.4 million shares worth $416.6 million. 

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