5 Best Biotech Stocks to Buy Under $10

04. ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Number of Hedge Fund Holders as of Q3, 2022: 17

Share Price as of December 19: $8.08

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) is a biotechnology firm that was incorporated in 2015 and is based in San Diego, California. ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) develops ARS-1, a novel intranasal epinephrine spray with absorption technology for patients and their families at-risk of severe allergic reactions to food, medications, and insect bites. Its product includes Neffy, a low-dose intranasal epinephrine nasal spray. On December 13, SVB Securities analyst Roanna Ruiz initiated coverage of ARS Pharmaceuticals with an Outperform rating and a $14 price target. The stock has gained 16.62% value year to date as of December 19. This is compared to the NASDAQ Biotechnology Index, which is down 12.31% year to date.

At the close of Q3 2022, 17 hedge funds were long ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) and held stakes worth $30.64 million in the company. Of those, Samuel Isaly’s OrbiMed Advisors was the top shareholder in the company, with stakes worth $46.15 million.