5 Oversold Biotech Stocks to Buy

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1. Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

14-day RSI as of July 25: 10.83

Number of Hedge Fund Holders: 42

Waltham, Massachusetts-based Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) is a biopharmaceutical company focused on the development of therapies for treatment of debilitating diseases by controlling complement, part of the body’s immune system. The company is exploring programs across ophthalmology, nephrology, hematology, and neurology by targeting the C3, the only target in the complement cascade that addresses all three pathways that can drive disease.

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) received FDA approval of SYFOVRE™ (pegcetacoplan injection) in February 2023 for the treatment of geographic atrophy. EMPAVELI, for the treatment of Paroxysmal Nocturnal Hemoglobinuria, is the other commercial product of the company.

On May 4, Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) released its financial results for Q1 2023. Its revenue increased by 212% y-o-y to $45 million while net loss increased by 30% y-o-y to $178 million.

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) ranks #1 on our list of 10 oversold biotech stocks to buy based on the 14-day RSI of 10.83. The shares of the company were also widely owned by hedge funds as of Q1 2023 with 42 of the 934 prominent hedge funds tracked by Insider Monkey holding its shares valued at $2.0 billion.

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