In this article, we discuss 5 best immunotherapy stocks to buy now. If you want to read about some more immunotherapy stocks, go directly to 10 Best Immunotherapy Stocks To Buy Now.
5. Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS)
Number of Hedge Fund Holders: 15
Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) is a clinical-stage biopharmaceutical company that discovers and develops therapies for the treatment of Alzheimer’s disease. It is one of the best immunotherapy stocks to invest in. The shares have rallied in the past few weeks on the back of promising results from a late-stage data for an experimental Alzheimer’s therapy, Lecanemab, by rivals of the firm. In the trial involving nearly 1,800 patients, the amyloid-targeting monoclonal antibody cut the cognitive and functional decline in the early stage of Alzheimer’s by 27%, compared to placebo.
On October 05, BTIG analyst Thomas Shrader kept a Buy rating on Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) stock and raised the price target to $22 from $15, underlining that recent positive Lecanemab data from Biogen supports the therapeutic rationale of Acumen’s ACU193, increasing the modeled probability of success from 30% to 40%.
At the end of the second quarter of 2022, 15 hedge funds in the database of Insider Monkey held stakes worth $85.5 million in Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS), compared to 16 the preceding quarter worth $65.4 million.
4. Avid Bioservices, Inc. (NASDAQ:CDMO)
Number of Hedge Fund Holders: 17
Avid Bioservices, Inc. (NASDAQ:CDMO) is a contract development and manufacturing organization that provides process development and current good manufacturing practices (CGMP) focused on biopharmaceutical drug substances derived from mammalian cell culture. It is one of the top immunotherapy stocks to invest in.
On June 30, RBC Capital analyst Sean Dodge kept an Outperform rating on Avid Bioservices, Inc. (NASDAQ:CDMO) stock and lowered the price target to $22 from $32, noting that the company’s commercial activity has remained strong with the backlog rising 30%, though its initial guidance is building in a bit more conservatism to account for greater macro uncertainty.
At the end of the second quarter of 2022, 17 hedge funds in the database of Insider Monkey held stakes worth $82.7 million in Avid Bioservices, Inc. (NASDAQ:CDMO), compared to 15 in the previous quarter worth $108 million.
In its Q2 2022 investor letter, Laughing Water Capital, an asset management firm, highlighted a few stocks and Avid Bioservices, Inc. (NASDAQ:CDMO) was one of them. Here is what the fund said:
“How Cheap is Cheap Enough?
Consider the case of Avid Bioservices (NASDAQ:CDMO), a large molecule, small batch Contract Drug Manufacturing Organization that will be familiar to all but our newest partners, as we owned shares from 1H 2018 until all but exiting our position in the low $30s in Q4 of 2021. Since that time, shares have declined precipitously as the company is both a “growth” stock and in the S&P Biotech ETF (XBI), which has declined ~36% YTD to quarter end. However, in my view Avid Bio is a baby with the bathwater, and we once again made Avid Bioservices a large position during the quarter.
First, unlike most “growth” stocks, Avid Bioservices is not a “disruptor.” You don’t have to make any blind assumptions about total addressable market (TAM), customer acquisition costs (CAC), or churn. There is very little risk of “garbage in, garbage out” when modeling Avid’s future. Rather, Avid’s assumed growth is tied to building additional manufacturing capacity. In my view, it is a much easier task to understand the dynamics of building an additional manufacturing facility than it is to understand the dynamics of alleged TAM, potential CAC, and unknown churn.
Second, unlike most biotech stocks, Avid is a real business, not a binary bet on whether or not a drug will meet its hoped-for end state. Lastly, and most importantly, Avid Bio has one characteristic that staunchly separates it from other high flying growth stocks and biotech stocks that have been punished by the market: it is set to gush cash in the not-too-distant future.”
3. Immunocore Holdings plc (NASDAQ:IMCR)
Number of Hedge Fund Holders: 17
Immunocore Holdings plc (NASDAQ:IMCR) is a commercial-stage biotechnology company that engages in the development of immunotherapies for the treatment of cancer, infectious, and autoimmune diseases. It is one of the premier immunotherapy stocks to invest in. Immunocore Holdings plc (NASDAQ:IMCR) shares have slid recently after the company announced initial data for its off-the-shelf T cell receptor immunotherapy IMC-F106C from a Phase 1 trial involving patients with solid tumors. A bi-specific protein, based on the Immunocore Holdings plc (NASDAQ:IMCR) therapeutic platform ImmTAC, IMC-F106C, is the company’s first drug candidate to target the PRAME antigen in tumors.
On September 09, investment advisory Jefferies kept an Overweight rating on the Immunocore Holdings plc (NASDAQ:IMCR) stock with a $68 price target. Analyst Michael Yee issued the ratings update.
Among the hedge funds being tracked by Insider Monkey, Baltimore-based firm Rock Springs Capital Management is a leading shareholder in Immunocore Holdings plc (NASDAQ:IMCR), with 2.7 million shares worth more than $99.7 million.
2. Novavax, Inc. (NASDAQ:NVAX)
Number of Hedge Fund Holders: 25
Novavax, Inc. (NASDAQ:NVAX) is a biotechnology company that focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases and address health needs. On August 10, B Riley analyst Mayank Mamtani maintained a Buy rating on Novavax, Inc. (NASDAQ:NVAX) stock and lowered the price target to $126 from $171, underlining that COVID vaccine product sales were meaningfully below Street expectations and the fiscal 2022 outlook was worse than feared for the firm.
Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Graham Capital Management is a leading shareholder in Novavax, Inc. (NASDAQ:NVAX), with 85 million shares worth more than $85 million.
1. argenx SE (NASDAQ:ARGX)
Number of Hedge Fund Holders: 35
argenx SE (NASDAQ:ARGX) is a biotechnology company that focuses on developing various therapies for the treatment of autoimmune diseases. It is one of the elite immunotherapy stocks to invest in. Argenx SE (NASDAQ:ARGX) recently submitted an application to the US Food and Drug Administration (FDA) seeking approval of subcutaneous (SC) efgartigimod to treat adult patients with generalized myasthenia gravis (gMG).The Biologics License Application was backed by data from a phase 3 trial called ADAPT-SC, which showed non-inferiority of SC efgartigimod compared to intravenously administered Vyvgart.
On August 26, Piper Sandler analyst Allison Bratzel kept an Overweight rating on Argenx SE (NASDAQ:ARGX) stock and raised the price target to $465 from $450, stating that the feedback indicates strong initial demand among refractory patients driving early uptake, which bodes well for Vyvgart, a pipeline drug of the firm.
At the end of the second quarter of 2022, 35 hedge funds in the database of Insider Monkey held stakes worth $2.4 billion in argenx SE (NASDAQ:ARGX), compared to 31 in the preceding quarter worth $1.95 billion.
In its Q2 2022 investor letter, Artisan Partners, an asset management firm, highlighted a few stocks and argenx SE (NASDAQ:ARGX) was one of them. Here is what the fund said:
“argenx SE (NASDAQ:ARGX) is a commercial stage biotechnology company with an approved, first-, and potentially best-in-class therapy (FcRn) for autoimmune diseases. In its first full quarter of sales, Vyvgart meaningfully exceeded consensus sales expectations, indicating strong early market traction. In addition, it released positive phase 3 results for Vyvgart’s use in treating immune thrombocytopenia purpura, a blood disorder characterized by low platelet levels. We believe this second indication could receive FDA approval in early 2023, and the news confirms our thesis that Vyvgart is a “pipeline in a product”—a compelling new molecule which is likely to be safe and effective in numerous rare autoimmune disorders.”
You can also take a peek at 10 Best Stocks to Buy According to Angela Aldrich’s Bayberry Capital Partners and Top 10 Tech Stocks to Buy According to Billionaire Louis Bacon.
