5 Best Biotech Stocks to Invest In

Below are the 5 best biotech stocks to invest in according to the billionaire biotech hedge fund manager Joe Edelman. For a comprehensive review, see 10 Best Biotech Stocks to Invest In.

5. Global Blood Therapeutics, Inc. (NASDAQ: GBT)

A clinical-stage biopharmaceutical company Global Blood Therapeutics, Inc. (NASDAQ: GBT) is the long-running investment of a billionaire hedge fund manager. The firm first initiated a stake in Global Blood Therapeutics in 2015. It is the fifth-largest stock holding of the Perceptive Advisors portfolio, accounting for 4.60% of the overall portfolio. The investment is valued at $319 million.

Shares of Global Blood Therapeutics underperformed this year compared to the broader market index. Lower than expected revenues from Oxbryta added to investors’ concerns. The company missed the third-quarter revenue estimate by $7.66 million. The market analysts believe share performance is likely to remain under pressure until Oxbryta sales reach the pre-Covid level.

Follow Global Blood Therapeutics Inc. (NASDAQ:GBT)