5 Best-Performing Non-Energy Stocks of 2022

3. Veru Inc. (NASDAQ:VERU)

Number of Hedge Fund Holders: 13

YTD Share Price Gain as of September 16: 157.40%

Veru Inc. (NASDAQ:VERU) is a Florida-based oncology biopharmaceutical company, focused on developing medication for the management of cancers. Oppenheimer analyst Leland Gershell said on September 8 that although sabizabulin being discussed at an FDA Advisory Committee meeting came as a surprise and extends the start of US sales to at least October, his conviction for Emergency Use Authorization remains unchanged. With increased market skepticism around sabizabulin’s short-term regulatory pressures, the stock has plunged 21% and the analyst recommends taking advantage of current levels. He has an Outperform rating and a price target of $36 on the shares, reiterating Veru Inc. (NASDAQ:VERU) as a top pick. The stock has soared more than 157% YTD as of September 16, making it one of the best-performing non-energy stocks of 2022. 

According to the second quarter database of Insider Monkey, 13 hedge funds were long Veru Inc. (NASDAQ:VERU) with combined stakes worth $200.8 million, compared to 9 funds in the last quarter worth $26.2 million. Peter Kolchinsky’s RA Capital Management is the largest shareholder of the company, with 7.90 million shares valued at $89 million.