5 Best Performing Biotech Stocks in 2023

In this piece, we will take a look at the five best performing biotechnology stocks in 2023. If you want to take a deeper look at the biotechnology industry and some recent trends, then read 12 Best Performing Biotech Stocks in 2023.

5. Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Year To Date Share Price Gains: 293.18%

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) is a California based biotechnology company that focuses its efforts on developing treatments exclusively for cancers that target women. It’s another biotechnology stock with strong analyst ratings, as the shares are rated Strong Buy on average, with a $12 upside through an average share price target of $22.

As of June 2023 end, 23 out of the 910 hedge funds tracked by Insider Monkey had invested in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA). Out of these, the largest shareholder is Mark Lampert’s Biotechnology Value Fund / BVF Inc as it owns 7.6 million shares that are worth $68.7 million.