In this article, we will look at the 12 Best Immunotherapy Stocks to Buy According to Hedge Funds.
On February 13, Matt Orton, Raymond James Investment Management’s chief market strategist, appeared on CNBC’s ‘The Exchange’ to talk about the recent trends in equity markets and what may drive stocks higher.
He thinks it is time to be more specific with respect to where the market is; one should be particular about the stocks and sectors one wants to lean into. The rotation that has played out this year has been “pretty extreme”, according to Orton, with almost a 27% difference between top- and bottom-performing sectors within the S&P 500 just this year, which amounts to a month and a half. So we need to look at the intersection of where we have fundamental support for the cyclical rotation, which translates to earnings growth and economic growth, along with where there are still some secular tailwinds to make sure that a lot of these themes play out over the longer term.
READ ALSO: 11 Best Strong Buy Penny Stocks to Invest In and 10 Best Medical Research Stocks to Buy According to Hedge Funds.
Orton further stated that this is not really a risk-off market but is rather a rotation, and that traditionally risk-on areas such as small caps and emerging markets are outperforming year-to-date. The overall backdrop, thus, remains very constructive for equities with stimulative tailwinds. We also talked about healthcare stocks in a recently published article on the 12 Best Healthcare Stocks Under $50 to Invest In. Here is an excerpt from the article:
“On January 27, Jared Holz, healthcare equity strategist at Mizuho, appeared on CNBC’s ‘Power Lunch’ to talk about healthcare stocks and the new proposals around Medicare Advantage. CNBC reported that the Trump administration proposed basically no change for most Medicare Advantage payments, as the plan called for a net average payment increase of a mere 0.09% next year, which appears to be an insignificant number and well below Wall Street’s expectations. This translates to major insurers, which get paid back by Medicare Advantage, getting “pummeled”.
Talking about whether the healthcare space has become uninvestable after the proposal or poses a big opportunity to buy the dip, Holz provided an investing perspective, stating that this has certainly been a “precarious” place to invest in the past couple of years. He added that this is presently just a proposal, and the final ruling is supposed to take place in a couple of months from now, in April. The edited or revised ruling may be a little bit better, according to him.
Holz further stated that this has overall been a shock to the system, and investors had been positioning long, thinking that this was going to be a turnaround year. He thinks that the earnings and headlines delayed the dream for a little bit. However, the dream completely ending instead of being delayed seems a bit severe to him, as he believes we are going to be in a pocket now, for a year or maybe two, in which earnings don’t expand or grow as much as investors or the Street had thought. Ending the dream seems draconian to him, but he also stated that in a world where so many other stocks and subsectors are working incredibly well, this is going to be a tough one for a bit.”
With these broader market trends in view, let’s look at the best immunotherapy stocks to buy according to hedge funds.
Our Methodology
We used stock screeners to find the best immunotherapy stocks and then chose the top 12 with the highest number of hedge fund holders, as of Q3 2025. We sourced the hedge fund sentiment data from Insider Monkey’s database. The list is sorted in ascending order of hedge fund holders.
Note: All data was recorded on February 17.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).
12 Best Immunotherapy Stocks to Buy According to Hedge Funds
12. Iovance Biotherapeutics Inc. (NASDAQ:IOVA)
Number of Hedge Fund Holders: 27
Iovance Biotherapeutics Inc. (NASDAQ:IOVA) is one of the best immunotherapy stocks to buy according to hedge funds. On February 5, Goldman Sachs lifted the price target on Iovance Biotherapeutics Inc. (NASDAQ:IOVA) to $2 from $1.50 while maintaining a Sell rating on the stock.
The rating update came the same day Iovance Biotherapeutics Inc. (NASDAQ:IOVA) announced data showing a best-in-class profile for commercial Amtagvi with unprecedented response rates in a real-world clinical, retrospective study conducted in patients with advanced melanoma. It announced the real-world results at the 2026 Tandem Meetings of the American Society for Transplantation and Cellular Therapy and the Center for International Blood and Marrow Transplant Research in Salt Lake City, UT.
Management stated that Amtagvi is the first one-time T cell therapy for a solid tumor cancer, and also holds the spot as the only FDA-approved treatment for advanced melanoma patients previously treated with anti-PD-1 and targeted therapy, where applicable.
Iovance Biotherapeutics Inc. (NASDAQ:IOVA) further reported that forty-one evaluable patients with previously treated advanced melanoma received commercial Amtagvi as per the U.S. prescribing information at four authorized treatment centers, adding that the physician-assessed confirmed objective response rate was 44% and the disease control rate was 73%, with the response rate being higher with earlier Amtagvi treatment.
Iovance Biotherapeutics (NASDAQ:IOVA) is a clinical-stage biopharmaceutical company that develops and delivers tumor-infiltrating lymphocyte (TIL) therapies for patients with solid tumor cancers. Its lead product candidate is Amtagvi (lifileucel), a tumor-derived autologous T-cell immunotherapy. The company is also developing next-generation therapies using TIL, including genetically modified TIL cell therapy.
11. Janux Therapeutics, Inc. (NASDAQ:JANX)
Number of Hedge Fund Holders: 32
Janux Therapeutics, Inc. (NASDAQ:JANX) is one of the best immunotherapy stocks to buy according to hedge funds. JonesTrading maintained a Buy rating on Janux Therapeutics, Inc. (NASDAQ:JANX) on January 23, setting a price target of $50.00. The rating update came after Janux Therapeutics, Inc. (NASDAQ:JANX) announced on January 22 a collaboration and exclusive worldwide license agreement with Bristol Myers Squibb, under which the two companies would develop an undisclosed, novel, tumor-activated therapeutic targeting a validated solid tumor antigen expressed across several human cancer types.
David Campbell, Ph.D., President and CEO of Janux Therapeutics, Inc. (NASDAQ:JANX), stated that the collaboration marks a notable milestone for the company and validates the strength of its tumor-activated platforms while expanding its reach in solid tumor oncology. The terms of the agreement entail that the completion of the preclinical development up to IND submission would be undertaken by Janux Therapeutics, Inc. (NASDAQ:JANX), while Bristol Myers Squibb will hold the IND and be involved with the subsequent development and global commercialization. Janux Therapeutics, Inc. (NASDAQ:JANX) would remain actively involved in the process, supporting Bristol Myers Squibb through completion of the first Phase 1 clinical study.
Janux Therapeutics, Inc. (NASDAQ:JANX) is a preclinical stage biopharmaceutical company that develops therapeutics based on the Tumor Activated T Cell Engager platform technology. The company develops tumor-activated immunotherapies for cancer through two bispecific platforms: Tumor Activated T Cell Engagers (TRACTr) and Tumor Activated Immunomodulators (TRACIr).
