5 Best Affordable Stocks To Buy Under $5

4. bluebird bio, Inc. (NASDAQ:BLUE)

Number of Hedge Fund Holders: 22
Share Price as of September 19: $3.19

bluebird bio, Inc. (NASDAQ:BLUE) is next on our list of the best affordable stocks to buy now. The biotech company focuses on developing gene and cell therapies to treat severe genetic and rare diseases. The company reported strong earnings in the second quarter of 2023, with its revenue showing 353.3% year-over-year growth at $6.9 million. At the end of the quarter, it had over $291 million available in cash and cash equivalents.

Insider Monkey’s database of Q2 2023 showed that 22 hedge funds owned stakes in bluebird bio, Inc. (NASDAQ:BLUE), up from 20 in the previous quarter. The collective value of these stakes is over $68.8 million. With a stake value of over $24.2 million, Tang Capital Management owned the largest position in the company in Q2.

Follow Bluebird Bio Inc. (NASDAQ:BLUE)