11 Oversold Biotech Stocks To Buy Right Now

Published on March 17, 2024 at 5:20 pm by Fatima Farooq in Hedge Funds, News

In this article, we will be taking a look at 11 oversold biotech stocks to buy right now. To skip our detailed analysis of the biotech sector, you can go directly to see the 5 Oversold Biotech Stocks To Buy Right Now.

Dealmaking in Biotech

Healthcare has been performing well so far in 2024, and many investors are now wondering which specific areas in healthcare they should try to buy into today. Several analysts believe biotech in one area in the healthcare sector that is poised to benefit in 2024, considering the current performance of biotech stocks. However, certain areas within the biotech space may be risky as the trend of dealmaking and buyouts in the industry continues. As such, investors need to tread carefully if biotech is their preferred area of investment in 2024.

On February 28, Laura Chico, the Managing Director at Wedbush, joined CNBC’s “Power Lunch” to discuss this dealmaking trend in the biotech space and what it may mean for investors. Here are some of her comments:

“I think this is a trend we’ve been seeing a lot of this year, and even from the end of last year. So from December to now, we’ve got over 11 over $35 billion in transactions. I don’t think it’s gonna stop anytime soon. Large-cap pharma biotechs do have exclusivity expiries that they have coming up, that they need to address. Also looking for revenue growth, a great spot to look is in the small and mid-cap biotech space, for assets that might be a little more de-risked.”

Investors looking to buy into biotech stocks this year may be wondering which areas are more prone to buyouts, or if there even is any one rule applying to the buyout trend. Chico noted the following areas to keep an eye on as far as buyouts are concerned:

“Obesity has been a really big theme in 2023, will probably continue for the foreseeable future, but across the area, at least in these recent M&A transactions, it’s been really broad-based, and I think that’s really a testament to the innovation in the space. We have a number of deals in oncology, immunology, inflammation, neuro, and even rare diseases. So it’s not just within certain verticals at this point.”

A Pronounced Biotech Rally in 2024

According to Chico, investors looking to invest in biotech will surely do well by keeping up with FDA approval news, scientific and clinical risks posed by a company’s products, and most importantly, what area of diseases a company is targeting with its products, as this may highlight its chances of success in terms of meeting an overlooked target population’s needs alongside gaining FDA approval.

All things considered, biotech companies like Moderna, Inc. (NASDAQ:MRNA), Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN), and Gilead Sciences, Inc. (NASDAQ:GILD) may be set to benefit from a pronounced biotech rally this year. On March 6, Jared Holz, Healthcare Equity Strategist at Mizuho, joined CNBC’s “The Exchange” to discuss this possibility:

“[Biotech] has been one of the worst spaces in all of the equity market since mid-2021. We’ve barely seen any positive activity for any pronounced period of time until very recently… When you consider the risk factors, with respect to drug prices and other elements of the business… all these risk factors are much more well understood and we can continue to move higher from here.”

Holz believes that even if investors haven’t been able to get into large-cap biotech stocks, that doesn’t mean they can’t get into them now. At the same time, he noted that there are also many well-placed small-cap options in the market that can help investors enter the biotech space. Considering this, we have compiled a list of oversold stocks in the biotech space. These companies may have been going overlooked for some time, but include some of the best biotech stocks to buy under $20 and some of the most undervalued biotech stocks to buy as well.

A biotechnologist in a lab setting, examining a sample of liquid for research and development.

Our Methodology

We used the Relative Strength Index (RSI) indicator to pick oversold stocks in the biotech industry for our list. The RSI indicator is a momentum indicator used in the technical analysis of stocks by measuring the speed and magnitude of a security’s recent price changes to evaluate whether the price of that security is overvalued or undervalued. Stocks with RSI values of over 70 are traditionally considered overbought, while those with RSI values under 30 are oversold. We thus used a stock screener to find oversold stocks in the biotech industry with RSI values under 30 and then ranked them based on this metric, from the highest to the lowest RSI value. We also mentioned the number of hedge funds holding stakes in each stock, using Insider Monkey’s hedge fund data for the fourth quarter. Hedge funds’ top 10 consensus stock picks outperformed the S&P 500 Index by over 140 percentage points over the last 10 years (see the details here). That’s why we pay very close attention to this often-ignored indicator.

Oversold Biotech Stocks To Buy Right Now

11. Aura Biosciences Inc. (NASDAQ:AURA)

Number of Hedge Fund Holders: 11

14-day RSI Value: 29.1

Aura Biosciences Inc. (NASDAQ:AURA) is a biotech company based in Boston, Massachusetts. The company develops therapies to treat cancer and virus-like drug conjugates technology platforms to treat tumors of high unmet need in ocular and urologic oncology.

In total, 11 hedge funds were long Aura Biosciences Inc. (NASDAQ:AURA) in the fourth quarter, with a total stake value of $151.6 million.

While Aura Biosciences Inc. (NASDAQ:AURA) is on our list of oversold stocks, it is still a highly popular biotech stock, just like Moderna, Inc. (NASDAQ:MRNA), Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN), and Gilead Sciences, Inc. (NASDAQ:GILD).

10. Relay Therapeutics, Inc. (NASDAQ:RLAY)

Number of Hedge Fund Holders: 26

14-day RSI Value: 29

A Buy rating and $30 price target were maintained on Relay Therapeutics, Inc. (NASDAQ:RLAY) by Bradley Canino at Stifel on February 22.

Based in Cambridge, Massachusetts, Relay Therapeutics, Inc. (NASDAQ:RLAY) is a clinical-stage precision medicines company, and is one of the best oversold stocks to buy. It transforms the drug discovery process with an initial focus on enhancing small molecule therapeutic discovery in targeted oncology and genetic disease indications.

Relay Therapeutics, Inc. (NASDAQ:RLAY) was spotted in the portfolios of 26 hedge funds in the fourth quarter, with a total stake value of $218.3 million.

Casdin Capital was the largest shareholder in Relay Therapeutics, Inc. (NASDAQ:RLAY) at the end of the fourth quarter, holding 7.4 million shares in the company.

9. Tango Therapeutics Inc. (NASDAQ:TNGX)

Number of Hedge Fund Holders: 21

14-day RSI Value: 28.4

We saw 21 hedge funds long Tango Therapeutics Inc. (NASDAQ:TNGX) in the fourth quarter, with a total stake value of $289.4 million.

Tango Therapeutics Inc. (NASDAQ:TNGX) discovers and develops drugs to treat cancer. Based in Boston, Massachusetts, the company offers a synthetic lethal small molecule inhibitor of protein arginine methyltransferase 5 that is being developed as a cancer treatment.

Joseph Catanzaro at Piper Sandler maintained an Overweight rating and $18 price target on Tango Therapeutics Inc. (NASDAQ:TNGX) on February 12.

Tango Therapeutics Inc. (NASDAQ:TNGX) is one of the top oversold stocks to buy, considering that it is a popular biotech stock, just like Moderna, Inc. (NASDAQ:MRNA), Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN), and Gilead Sciences, Inc. (NASDAQ:GILD)

8. Galapagos NV (NASDAQ:GLPG)

Number of Hedge Fund Holders: 22

14-day RSI Value: 28.1

EcoR1 Capital was the most prominent shareholder in Galapagos NV (NASDAQ:GLPG) at the end of the fourth quarter, holding 5.8 million shares in the company.

Galapagos NV (NASDAQ:GLPG) is an integrated biopharmaceutical company based in Belgium. The company discovers, develops, and commercialize various medicines for high unmet medical needs, and is among the top oversold stocks to invest in.

Morgan Stanley’s Judah Frommer maintained an Equal Weight rating and $38 price target on Galapagos NV (NASDAQ:GLPG) on March 7.

Our hedge fund data for the fourth quarter shows 22 hedge funds long Galapagos NV (NASDAQ:GLPG), with a total stake value of $483.7 million.

7. Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH)

Number of Hedge Fund Holders: 18

14-day RSI Value: 27.8

Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH) is a commercial-stage biopharmaceutical company based in Canada on our list of oversold stocks. It develops and commercializes therapies to treat various diseases with unmet medical need in the US.

Holding 9.5 million shares in the company, Armistice Capital was the largest shareholder in Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH) at the end of the fourth quarter.

Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH) was spotted in the 13F holdings of 18 hedge funds in the fourth quarter, with a total stake value of $121.9 million.

As of March 1, HC Wainwright & Co. analyst Ed Arce holds a Buy rating and $13 price target on Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH).

6. Immunovant, Inc. (NASDAQ:IMVT)

Number of Hedge Fund Holders: 55

14-day RSI Value: 27.1

There were 55 hedge funds long Immunovant, Inc. (NASDAQ:IMVT) in the fourth quarter, with a total stake value of $913.8 million.

Immunovant, Inc. (NASDAQ:IMVT) is a clinical-stage biopharmaceutical company that develops monoclonal antibodies to treate autoimmune diseases. The company is based in New York.

Corinne Johnson at Goldman Sachs holds a Buy rating and $50 price target on Immunovant, Inc. (NASDAQ:IMVT) as of March 13.

Baron Funds mentioned Immunovant, Inc. (NASDAQ:IMVT) in its fourth-quarter 2023 investor letter:

“We initiated a position in Immunovant, Inc. (NASDAQ:IMVT), a clinical-stage biotechnology company developing therapies for autoimmune diseases. During the quarter, the company announced data from a Phase 1 clinical trial of IMVT-1402, an FcRn inhibitor that has broad potential applicability to multiple autoimmune diseases. The data showed that IMVT-1402 delivered dose dependent and deep reductions in disease-causing auto-antibodies with minimal changes in albumin and low-density lipoprotein cholesterol. The company’s first generation FcRn inhibitor has shown strong efficacy but there have been questions about the safety profile of the drug. This promising data makes Immunovant a real competitor in the FcRn inhibitor drug class, though Immunovant is behind argenx in terms of timing. We think both companies can be successful given the broad array of autoimmune diseases that can potentially be treated with a safe and effective FcRn inhibitor.”

Click to continue reading and see the 5 Oversold Biotech Stocks To Buy Right Now.

AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Published on June 23, 2025 at by Inan Dogan, PhD

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

AI is eating the world—and the machines behind it are ravenous.

Each ChatGPT query, each model update, each robotic breakthrough consumes massive amounts of energy. In fact, AI is already pushing global power grids to the brink.

Wall Street is pouring hundreds of billions into artificial intelligence—training smarter chatbots, automating industries, and building the digital future. But there’s one urgent question few are asking:

Where will all of that energy come from?

AI is the most electricity-hungry technology ever invented. Each data center powering large language models like ChatGPT consumes as much energy as a small city. And it’s about to get worse.

Even Sam Altman, the founder of OpenAI, issued a stark warning:

“The future of AI depends on an energy breakthrough.”

Elon Musk was even more blunt:

“AI will run out of electricity by next year.”

As the world chases faster, smarter machines, a hidden crisis is emerging behind the scenes. Power grids are strained. Electricity prices are rising. Utilities are scrambling to expand capacity.

And that’s where the real opportunity lies…

One little-known company—almost entirely overlooked by most AI investors—could be the ultimate backdoor play. It’s not a chipmaker. It’s not a cloud platform. But it might be the most important AI stock in the US owns critical energy infrastructure assets positioned to feed the coming AI energy spike.

As demand from AI data centers explodes, this company is gearing up to profit from the most valuable commodity in the digital age: electricity.

The “Toll Booth” Operator of the AI Energy Boom

It owns critical nuclear energy infrastructure assets, positioning it at the heart of America’s next-generation power strategy.
It’s one of the only global companies capable of executing large-scale, complex EPC (engineering, procurement, and construction) projects across oil, gas, renewable fuels, and industrial infrastructure.
It plays a pivotal role in U.S. LNG exportation—a sector about to explode under President Trump’s renewed “America First” energy doctrine.

Trump has made it clear: Europe and U.S. allies must buy American LNG.

And our company sits in the toll booth—collecting fees on every drop exported.

But that’s not all…

As Trump’s proposed tariffs push American manufacturers to bring their operations back home, this company will be first in line to rebuild, retrofit, and reengineer those facilities.

AI. Energy. Tariffs. Onshoring. This One Company Ties It All Together.

While the world is distracted by flashy AI tickers, a few smart investors are quietly scooping up shares of the one company powering it all from behind the scenes.

AI needs energy. Energy needs infrastructure.

And infrastructure needs a builder with experience, scale, and execution.

This company has its finger in every pie—and Wall Street is just starting to notice.

Wall Street is noticing this company also because it is quietly riding all of these tailwinds—without the sky-high valuation.

While most energy and utility firms are buried under mountains of debt and coughing up hefty interest payments just to appease bondholders…

This company is completely debt-free.

In fact, it’s sitting on a war chest of cash—equal to nearly one-third of its entire market cap.

It also owns a huge equity stake in another red-hot AI play, giving investors indirect exposure to multiple AI growth engines without paying a premium.

And here’s what the smart money has started whispering…

The Hedge Fund Secret That’s Starting to Leak Out

This stock is so off-the-radar, so absurdly undervalued, that some of the most secretive hedge fund managers in the world have begun pitching it at closed-door investment summits.

They’re sharing it quietly, away from the cameras, to rooms full of ultra-wealthy clients.

Why? Because excluding cash and investments, this company is trading at less than 7 times earnings.

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The AI infrastructure supercycle
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11 Oversold Biotech Stocks To Buy Right Now

Published on March 17, 2024 at 5:20 pm by Fatima Farooq in Hedge Funds, News

Dealmaking in Biotech

A Pronounced Biotech Rally in 2024

Oversold Biotech Stocks To Buy Right Now

11. Aura Biosciences Inc. (NASDAQ:AURA)

10. Relay Therapeutics, Inc. (NASDAQ:RLAY)

9. Tango Therapeutics Inc. (NASDAQ:TNGX)

8. Galapagos NV (NASDAQ:GLPG)

7. Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH)

6. Immunovant, Inc. (NASDAQ:IMVT)

AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Published on June 23, 2025 at by Inan Dogan, PhD

Here’s why this is a deal you can’t afford to pass up:

A New Dawn is Coming to U.S. Stocks

Published on June 13, 2025 at by Insider Monkey Staff

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11 Oversold Biotech Stocks To Buy Right Now

Published on March 17, 2024 at 5:20 pm by Fatima Farooq in Hedge Funds, News

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Dealmaking in Biotech

A Pronounced Biotech Rally in 2024

Oversold Biotech Stocks To Buy Right Now

11. Aura Biosciences Inc. (NASDAQ:AURA)

10. Relay Therapeutics, Inc. (NASDAQ:RLAY)

9. Tango Therapeutics Inc. (NASDAQ:TNGX)

8. Galapagos NV (NASDAQ:GLPG)

7. Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH)

6. Immunovant, Inc. (NASDAQ:IMVT)

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AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Published on June 23, 2025 at by Inan Dogan, PhD

Here’s why this is a deal you can’t afford to pass up:

A New Dawn is Coming to U.S. Stocks

Published on June 13, 2025 at by Insider Monkey Staff