5 Stocks Under $30 to Buy Today According to Billionaire Steven Cohen

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1. Exelixis, Inc. (NASDAQ:EXEL)

Point72 Asset Management’s Holdings: $155 million

Percentage of Point72 Asset Management’s Portfolio: 0.61%

Number of Hedge Fund Holders: 33

Share price on May 27, 2022: $18.19

Exelixis, Inc. (NASDAQ:EXEL) is an American biotechnology company that devotes all of its efforts to develop cancer treatments. It is headquartered in Alameda, California and its treatments target melanoma, thyroid cancer, solid tumors, and lymphoma.

Mr. Cohen’s investment firm owned a $155 million stake in Exelixis, Inc. (NASDAQ:EXEL) during Q1 2022. This came through 6.8 million shares and it represented 0.61% of Point72 Asset Management’s investment portfolio. Insider Monkey surveyed 912 hedge funds for the 2022 January quarter and discovered that 33 had also invested in the company.

Exelixis, Inc. (NASDAQ:EXEL) raked in $355 million in revenue and $0.26 in non-GAAP EPS during its fiscal Q1. The results saw the firm miss analyst revenue estimates but beat them for non-GAAP EPS. Jefferies kept a $28 price target for the company in May 2022, outlining that positive patent litigation dispute resolution can inject fresh life into the shares.

Exelixis, Inc. (NASDAQ:EXEL)’s largest investor is Jim Simons’s Renaissance Technologies which owns 16.8 million shares that are worth $382 million,

Disclosure: None. You can also take a look at 10 Best Nickel Stocks to Buy Now and Top 10 Small-Cap Stocks Added to Billionaire Mario Gabelli’s Portfolio.

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