5 Best IPO Stocks to Buy Heading into 2024

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In this article, we will take a look at the 5 best IPO stocks to buy heading into 2024. To read our analysis of the recent market trends and market activity, you can go to the 13 Best IPO Stocks to Buy Heading into 2024.

5. Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

Number of Hedge Fund Holders: 39

Cambridge, Massachusetts-based Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) is a global company committed to the mission of discovery and development of treatments for relentless and progressing neurodegenerative diseases.

On December 12, Deutsche Bank analyst Neena Bitritto-Garg initiated coverage of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) shares with a ‘Buy’ rating and a price target of $36 which represents a potential upside of 148.28% based on the share price on December 22.

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) shares were held by 39 hedge funds with total value of $520 million, as of September 30. Andreas Halvorsen’s Viking Global held the most shares among hedge funds with ownership of 3.0 million shares valued at $54 million.

Like other stocks such as Constellation Energy Corporation (NASDAQ:CEG), Klaviyo, Inc. (NYSE:KVYO), and Mobileye NV (NYSE:MBLY), Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) is among the 13 best ipo stocks to buy heading into 2024.

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