5 Best Biotech Stocks to Buy Under $20

In this piece, we will take a look at the five best biotechnology stocks to buy under $20. For more stocks, head on over to 12 Best Biotech Stocks To Buy Under $20.

5. Biohaven Ltd. (NYSE:BHVN)

Number of Hedge Fund Investors in Q4 2022: 34

Biohaven Ltd. (NYSE:BHVN) is an American company headquartered in New Haven, Connecticut. The firm develops treatments for a variety of diseases such as epilepsy, neuropsychiatric illnesses, neuropathic pain, neurodegenerative diseases, myeloma, and spinal muscle atrophy.

Insider Monkey’s Q4 2022 survey covering 943 hedge funds revealed that 34 had held a stake in Biohaven Ltd. (NYSE:BHVN). The firms scored a win in February 2023 when the Food and Drug Administration (FDA) granted its muscular atrophy drug a Fast Track designation.

4. CymaBay Therapeutics, Inc. (NASDAQ:CBAY)

Number of Hedge Fund Investors in Q4 2022: 35

CymaBay Therapeutics, Inc. (NASDAQ:CBAY) is a biotechnology company developing treatments for diabetes, metabolic diseases, and other health problems. The firm is headquartered in Newark, California.

As of December 2022, 35 of the 943 hedge funds surveyed by Insider Monkey had bought CymaBay Therapeutics, Inc. (NASDAQ:CBAY)’s shares. The firm’s largest hedge fund investor is Kurt Von Emster’s VenBio Select Advisor which owns ten million shares that are worth $64 million.

3. Roivant Sciences Ltd. (NASDAQ:ROIV)

Number of Hedge Fund Investors in Q4 2022: 35

Roivant Sciences Ltd. (NASDAQ:ROIV) develops treatments for tumors, sickle cell diseases, dermatitis, psoriasis, anemia, eye problems, and other problems. It is headquartered in London, the United Kingdom.

Insider Monkey profiled 943 hedge fund portfolios for their fourth quarter of 2022 investments and found out that 35 had invested in Roivant Sciences Ltd. (NASDAQ:ROIV). Daniel Gold’s QVT Financial is the company’s largest investor as it owns 122 million shares that are worth $979 million.

2. Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Number of Hedge Fund Investors in Q4 2022: 39

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) develops treatments for a variety of different cancers such as cervical cancer, melanoma, and non small cell lung cancer. The company is headquartered in San Carlos, California.

After the collapse of Silicon Valley Bank earlier this month, Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) assuaged investor concerns and confirmed in a regulatory filing that it does not hold deposits or securities at the defunct bank. 39 of the 943 hedge funds polled by Insider Monkey had invested in the company during Q4 2022.

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s largest hedge fund investor in our database is Mark Rachesky’s MHR Fund Management which owns 11.9 million shares that are worth $76 million.

1. Bausch Health Companies Inc. (NYSE:BHC)

Number of Hedge Fund Investors in Q4 2022: 41

Bausch Health Companies Inc. (NYSE:BHC) is a Canadian drug manufacturer headquartered in Laval, Canada. The firm makes and sells pharmaceutical products for a host of different diseases.

Insider Monkey took a look at 943 hedge fund portfolios for their December quarter of 2022 investments and found out that 41 had invested in the firm. Bausch Health Companies Inc. (NYSE:BHC)’s largest hedge fund shareholder is Carl Icahn’s Icahn Capital LP which owns 34 million shares that are worth $218 million.

Disclosure: None. You can also take a look at 10 Hot Growth Stocks To Buy Now and 13 Best Asian Stocks To Buy Today.

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and investors. Please subscribe to our daily free newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below

Follow Insider Monkey on Twitter