5 Best Performing Biotech Stocks in 2022

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In this article, we discuss 5 best performing biotech stocks in 2022. If you want to see more stocks in this selection, check out 12 Best Performing Biotech Stocks in 2022

5. Verona Pharma plc (NASDAQ:VRNA)

Number of Hedge Fund Holders: 20

YTD Share Price Gain as of December 28: 242.39%

Verona Pharma plc (NASDAQ:VRNA) is a London-based clinical stage biopharmaceutical company, focused on development and commercialization of therapies for the treatment of respiratory diseases with unmet medical needs. The stock rose 26% on December 20 when Verona Pharma plc (NASDAQ:VRNA) reported that a phase 3 trial evaluating a nebulized form of its inhibitor ensifentrine for the treatment of chronic obstructive pulmonary disease reached its core and secondary goals. Verona Pharma plc (NASDAQ:VRNA) shares have skyrocketed over 242% year-to-date as of December 28, making it one of the best performing biotech plays this year. 

On December 21, Truist analyst Joon Lee raised the price target on Verona Pharma plc (NASDAQ:VRNA) from $20 to $28 and maintained a Buy rating on the shares after the company’s “positive” phase 3 trial data evaluating nebulized ensifentrine for the treatment of chronic obstructive pulmonary disease.

According to Insider Monkey’s data, 20 hedge funds were long Verona Pharma plc (NASDAQ:VRNA) at the end of Q3 2022, compared to 11 funds in the last quarter. Samuel Isaly’s OrbiMed Advisors is a prominent position holder in the company, with 5.7 million shares worth $58.20 million. 

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