5 Cheap Biotech Stocks Smart Investors Are Piling Into

2. Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Number of Hedge Fund Investors In Q2 2023: 54

P/E Ratio: 27.34

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) provides drugs and medicines for different diseases such as cystic fibrosis and heart problems. It is currently expanding its diabetes treatment portfolio, as it has teamed with another biotechnology company to use stem cells to make diabetes medicine.

By the end of 2023’s second quarter, 54 out of the 910 hedge funds part of Insider Monkey’s research had bought the firm’s shares. Jim Simons’ Renaissance Technologies is the biggest hedge fund investor in our database since it owns $447 million worth of shares.