In this article, we discuss the 11 biotech stocks popular on Reddit.
Biotechnology is one of the fields in which Reddit investors take active interest amid an explosive growth potential of the biotech industry. According to Vision Research Reports, the global biotechnology industry was valued at $752.8 billion in 2020, and it is anticipated to grow at a compound annual growth rate of 17% to $3.44 trillion by 2030.
Some of the biotech stocks that are gaining retail investors’ attention include Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX), Biogen Inc. (NASDAQ: BIIB), Jazz Pharmaceuticals plc (NASDAQ: JAZZ) and Moderna, Inc. (NASDAQ: MRNA). Many retail investors are watching biotech stocks as the industry remained strong throughout the pandemic. The value of biotech companies’ joint ventures steadily increased between 2019 and 2020, reaching $170.6 billion.
The reliance of the largest drugmakers on biotechnology companies in developing COVID-19 booster shots and oral anti-viral medication is one of the catalysts driving revenue in the biotech sector. Pfizer Inc. (NYSE: PFE) and biotech firm BioNTech SE (NASDAQ: BNTX) received FDA approval on August 12 for a booster trial of a third dose of COVID-19 vaccine. Shares of BioNTech SE (NASDAQ: BNTX) increased 63% in the previous month.
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Even though the biotech industry is a high-growth sector that is curbing the current economic uncertainty and inflation, the entire hedge fund industry is still feeling the effects of the changing financial landscape. Its reputation has been tarnished in the last decade, during which its hedged returns couldn’t keep up with the unhedged returns of the market indices. On the other hand, Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 124 percentage points since March 2017. Between March 2017 and July 2021, our monthly newsletter’s stock picks returned 186.1%, vs. 100.1% for the SPY. Our stock picks outperformed the market by more than 124 percentage points (see the details here). That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.
Our Methodology
The stocks on our list were picked based on their popularity on Reddit. We also took into account the fundamentals and prospects for growth of these stocks based on key business characteristics.
We ranked these biotech stocks based on the number of hedge funds having stakes in them, based on our data of over 866 hedge funds.
Let’s look at the 11 biotech stocks popular on Reddit.
Biotech Stocks Popular On Reddit
11. Nautilus Biotechnology, Inc. (NASDAQ: NAUT)
Number of Hedge Fund Holders: N/A
Price as of August 16: $7.88
We start our list of the 11 biotech stocks popular on Reddit with Seattle-based biotechnology firm Nautilus Biotechnology, Inc. (NASDAQ: NAUT). The biotech company was founded in 2016 and studies human proteomes for biomedical research and drug discovery.
On August 3, Goldman Sachs analyst Matthew Sykes initiated coverage of Nautilus Biotechnology with a Neutral rating and a $10 price target, noting that the company’s proteomics technology as a potential driver for the company’s growth in the biotech sector. On August 5, shares of Nautilus Biotechnology, Inc. (NASDAQ: NAUT) soared 50% after Amazon.com, Inc. (NASDAQ: AMZN) reported a $14.7 million position in the company in a recent SEC Form 13F filing.
The company has a market cap of $449 million. In the second quarter of 2021, Nautilus Biotechnology, Inc. (NASDAQ: NAUT) reported an EPS of -$0.19. At the end of the second quarter, the company has $142.5 million in cash and cash equivalents.
10. Anavex Life Sciences Corp. (NASDAQ: AVXL)
Number of Hedge Fund Holders: 5
Price as of August 16: $19.00
New York-based clinical-stage biopharmaceutical company Anavex Life Sciences Corp. (NASDAQ: AVXL) ranks 10th on the list of 11 biotech stocks popular on Reddit. The company develops neurodegenerative treatments for Parkinson’s disease, Alzheimer’s, and Rett syndrome.
Anavex Life Sciences Corp. (NASDAQ: AVXL) stock jumped 13.5% in premarket trading on July 29 after the firm released results from a mouse trial that showed the potential of its experimental Alzheimer’s medication ANAVEX 2-73.
On August 2, H.C. Wainwright analyst Ram Selvaraju maintained a Buy rating on Anavex Life Sciences Corp. (NASDAQ: AVXL) with a price target of $39 per share, forecasting a -$0.12 EPS on the company’s Q3 2021 earnings. The stock has gained 68% in the last three months.
The company has a market cap of $1.48 billion. In the third-quarter earnings posted on August 12, Anavex Life Sciences Corp. (NASDAQ: AVXL) reported an EPS of -$0.14, in line with estimates. The company ended the quarter with $157.6 million in cash and cash equivalents, an increase of 440% from $29.2 million in September 2020.
At the end of the first quarter of 2021, 5 hedge funds from our database held stakes in Anavex Life Sciences Corp. (NASDAQ: AVXL). The total value of these positions amounted to approximately $4.83 million.
Just like Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX), Biogen Inc. (NASDAQ: BIIB), Jazz Pharmaceuticals plc (NASDAQ: JAZZ), Moderna, Inc. (NASDAQ: MRNA), Pfizer Inc. (NYSE: PFE), and BioNTech SE (NASDAQ: BNTX), Anavex Life Sciences Corp. (NASDAQ: AVXL) is a good stock to buy according to market analysts.
9. Ocugen, Inc. (NASDAQ: OCGN)
Number of Hedge Fund Holders: 6
Price as of August 16: $7.06
Ocugen, Inc. (NASDAQ: OCGN) is a clinical-stage biopharmaceutical firm based in Pennsylvania that ranks 9th on the list of 11 biotech stocks popular on Reddit. The company develops gene therapy to restore age- and diabetes-related vision loss. Ocugen, Inc. (NASDAQ: OCGN) also co-developed the COVID-19 vaccine COVAXIN with Bharat Biotech. Ocugen, Inc. (NASDAQ: OCGN) recently joined the Russell 2000 and Russell 3000 indexes in June 2021.
On July 12, Noble Capital analyst Robert LeBoyer initiated coverage of Ocugen, Inc. (NASDAQ: OCGN) with an Outperform rating and a $15 price target.
On August 6, shares of Ocugen, Inc. (NASDAQ: OCGN) climbed 6.4% following earnings results and updates on COVAXIN. The firm has finished the rolling regulatory filing for COVAXIN to Health Canada. Year to date, the stock has risen 286%, owing to optimism about the COVID-19 vaccine.
The company has a market cap of $1.40 billion. In the second quarter of 2021, Ocugen, Inc. (NASDAQ: OCGN) reported an EPS of -$0.13. The company ended the second quarter with $115.8 million in cash and cash equivalents, up from $24.2 million in December 2020.
At the end of the first quarter of 2021, 6 hedge funds in the database of Insider Monkey held stakes worth $10.1 million in Ocugen, Inc. (NASDAQ: OCGN), up from 3 in the preceding quarter worth $352,000.
Just like Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX), Biogen Inc. (NASDAQ: BIIB), Jazz Pharmaceuticals plc (NASDAQ: JAZZ), Moderna, Inc. (NASDAQ: MRNA), Pfizer Inc. (NYSE: PFE), and BioNTech SE (NASDAQ: BNTX), Ocugen, Inc. (NASDAQ: OCGN) is a good stock to buy according to market analysts.
8. Atossa Therapeutics, Inc. (NASDAQ: ATOS)
Number of Hedge Fund Holders: 6
Price as of August 16: $3.13
Atossa Therapeutics, Inc. (NASDAQ: ATOS) ranks 8th on the list of 11 biotech stocks popular on Reddit. The Seattle-based clinical-stage biopharma firm develops ovarian and breast cancer oral drug Endoxifen. The company is also developing COVID-19 nasal spray and drugs to enhance lung function and cut down on the number of patients relying on ventilators. Atossa Therapeutics, Inc. (NASDAQ: ATOS) recently joined the Russell 2000 and Russell 3000 indices.
In June, Prognosticator Edward Woo kept a Buy rating on Atossa Therapeutics, Inc. (NASDAQ: ATOS) and increased the firm’s price target to $8 per share from the previous $7.75.
On July 7, shares of Atossa Therapeutics, Inc. (NASDAQ: ATOS) rose 3.7% after the company received regulatory approval to begin a clinical study of the inhalation medication AT-H201, which is designed to improve lung function in moderately to severely ill COVID-19 patients.
The company has a market cap of $407 million. In the second quarter of 2021, Atossa Therapeutics, Inc. (NASDAQ: ATOS) reported an EPS of -$0.06, missing estimates by -$0.02. At the end of the second quarter, the company has $142.5 million in cash and cash equivalents. The stock has gained 229%, year to date.
At the end of the first quarter of 2021, 6 hedge funds in the database of Insider Monkey held stakes worth $7.81 million in Atossa Therapeutics, Inc. (NASDAQ: ATOS), up from 3 in the preceding quarter worth $520,000.
Just like Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX), Biogen Inc. (NASDAQ: BIIB), Jazz Pharmaceuticals plc (NASDAQ: JAZZ), Moderna, Inc. (NASDAQ: MRNA), Pfizer Inc. (NYSE: PFE), and BioNTech SE (NASDAQ: BNTX), Atossa Therapeutics, Inc. (NASDAQ: ATOS) is a good stock to buy according to market analysts.
7. Bionano Genomics, Inc. (NASDAQ: BNGO)
Number of Hedge Fund Holders: 10
Price as of August 16: $5.55
Bionano Genomics, Inc. (NASDAQ: BNGO) ranks 7th on the list of 11 biotech stocks popular on Reddit. The company sells a genomic analysis device called the Saphyr system globally. The biotech company was founded in 2003 and was formerly known as BioNano Genomics, Inc.
On June 16, BTIG analyst Sung Ji Nam initiated a Buy rating and a $10 price target to Bionano Genomics, Inc. (NASDAQ: BNGO), citing the biotech company’s healthy balance sheet and growing popularity of the Saphyr platform. The analyst also emphasized the company’s optical genome mapping technology’s potential in the cytogenetics market.
The company has a market cap of $1.55 billion. In the second quarter of 2021, Bionano Genomics, Inc. (NASDAQ: BNGO) reported an EPS of -$0.07. The company’s second-quarter revenue grew 226% year over year to $3.9 billion and beat estimates by $0.34 million. Bionano Genomics, Inc. (NASDAQ: BNGO) shipped 13 Saphyr systems in the second quarter, up from 6 systems in the same period in 2020.
At the end of the first quarter of 2021, 10 hedge funds in the database of Insider Monkey held stakes worth $108 million in Bionano Genomics, Inc. (NASDAQ: BNGO), up from 5 in the preceding quarter worth $7.06 million.
Just like Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX), Biogen Inc. (NASDAQ: BIIB), Jazz Pharmaceuticals plc (NASDAQ: JAZZ), Moderna, Inc. (NASDAQ: MRNA), Pfizer Inc. (NYSE: PFE), and BioNTech SE (NASDAQ: BNTX), Bionano Genomics, Inc. (NASDAQ: BNGO) is a good stock to buy according to market analysts.
6. Humanigen, Inc. (NASDAQ: HGEN)
Number of Hedge Fund Holders: 11
Price as of August 16: $15.96
Humanigen, Inc. (NASDAQ: HGEN) is a California-based clinical-stage biopharmaceutical company that ranks 6th on the list of 11 biotech stocks popular on Reddit. The company develops human antibody therapeutics.
On August 10, Roth Capital analyst Tony Butler kept a Buy rating on Humanigen, Inc. (NASDAQ: HGEN) with a price target of $32 per share.
The company has a market cap of $948 million. In the second quarter of 2021, Humanigen, Inc. (NASDAQ: HGEN) reported an EPS of -$1.32, missing estimates by $0.37. The company’s second-quarter revenue came in at $1.04 million, beating revenue estimates by $0.36 million.
At the end of the first quarter of 2021, 11 hedge funds in the database of Insider Monkey held stakes worth $220 million in Humanigen, Inc. (NASDAQ: HGEN), up from 5 in the preceding quarter worth $161 million.
Just like Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX), Biogen Inc. (NASDAQ: BIIB), Jazz Pharmaceuticals plc (NASDAQ: JAZZ), Moderna, Inc. (NASDAQ: MRNA), Pfizer Inc. (NYSE: PFE), and BioNTech SE (NASDAQ: BNTX), Humanigen, Inc. (NASDAQ: HGEN) is a good stock to buy according to market analysts.
5. Agenus Inc. (NASDAQ: AGEN)
Number of Hedge Fund Holders: 12
Price as of August 16: $5.91
Agenus Inc. (NASDAQ: AGEN) ranks 5th on the list of 11 biotech stocks popular on Reddit. The Massachusetts-based biotech firm develops immuno-oncology therapeutics. The company was founded in 1994 and was formerly called Antigenics Inc.
Agenus Inc. (NASDAQ: AGEN) saw its stock rise by 22% on May 18 after the company announced an exclusive partnership with drugmaker Bristol-Myers Squibb Company (NYSE: BMY) that could be worth more than $1.5 billion. In July, Agenus Inc. (NASDAQ: AGEN) received $200 million as part of its agreement with Bristol-Myers Squibb Company (NYSE: BMY) for bispecific antibody development. The stock has gained 50% in the last three months.
The company has a market cap of $1.37 billion. In the second quarter of 2021, Agenus Inc. (NASDAQ: AGEN) reported an EPS of -$0.37. The company’s revenue in the second quarter was $10.37 million. At the end of the second quarter, the company has a cash balance of $74 million.
At the end of the first quarter of 2021, 12 hedge funds in the database of Insider Monkey held stakes worth $48.9 million in Agenus Inc. (NASDAQ: AGEN), up from 11 in the preceding quarter worth $49.4 million.
4. Fulcrum Therapeutics, Inc. (NASDAQ: FULC)
Number of Hedge Fund Holders: 17
Price as of August 16: $21.74
Fulcrum Therapeutics, Inc. (NASDAQ: FULC) is a biotech company based in Massachusetts that ranks 4th on the list of 11 biotech stocks popular on Reddit. The clinical-stage biopharma company specializes in drug development for genetic disorders such as sickle cell anemia and facioscapulohumeral muscular dystrophy.
The stock has gained over 125% in the previous month following positive early-stage results for sickle cell disease therapy. Fulcrum Therapeutics, Inc. (NASDAQ: FULC) announced on August 10 that it will begin enrolling sickle cell patients in a Phase 1b clinical trial in the fourth quarter of 2021.
On August 11, Morgan Stanley analyst Matthew Harrison upgraded Fulcrum Therapeutics, Inc. (NASDAQ: FULC) from Equal-Weight to Overweight and increased the firm’s price target to $34 per share from the previous $12, claiming that the company’s market value could double driven by the company’s sickle cell disease drug portfolio.
The company has a market cap of $711 million. In the second quarter of 2021, Fulcrum Therapeutics, Inc. (NASDAQ: FULC) reported an EPS of -$0.60, beating estimates by $0.05. The company’s revenue in the second quarter came in at $4.38 million, beating revenue estimates by $2.46 million.
At the end of the first quarter of 2021, 17 hedge funds in the database of Insider Monkey held stakes worth $86.3 million in Fulcrum Therapeutics, Inc. (NASDAQ: FULC).
3. Axsome Therapeutics, Inc. (NASDAQ: AXSM)
Number of Hedge Fund Holders: 17
Price as of August 16: $21.22
Axsome Therapeutics, Inc. (NASDAQ: AXSM) ranks 3rd on the list of 11 biotech stocks popular on Reddit. The New York-based biotech firm develops treatments for central nervous system disorders including Alzheimer’s disease and depression.
On August 10, Truist analyst Joon Lee maintained a Buy rating and a $160 price target on Axsome Therapeutics, Inc. (NASDAQ: AXSM).
The company has a market cap of $799 million. In the second quarter of 2021, Axsome Therapeutics, Inc. (NASDAQ: AXSM) reported an EPS of -$0.86, beating estimates by $0.02. At the end of the second quarter, Axsome Therapeutics, Inc. (NASDAQ: AXSM) had a cash balance of $141.2 million.
At the end of the first quarter of 2021, 17 hedge funds in the database of Insider Monkey held stakes worth $354 million in Axsome Therapeutics, Inc. (NASDAQ: AXSM), down from 22 in the preceding quarter worth $523 million.
2. BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX)
Number of Hedge Fund Holders: 22
Price as of August 16: $15.27
BioCryst Pharmaceuticals, Inc. is (NASDAQ: BCRX) is a biotech company based in North Carolina that ranks 2nd on the list of 11 biotech stocks popular on Reddit. BioCryst Pharmaceuticals, Inc. is (NASDAQ: BCRX) markets Orladeyo, an FDA-approved orally ingested medication that prevents attacks of hereditary angioedema in patients aged 12 and older.
On August 6, H.C. Wainwright analyst Andrew Fein maintained a Buy rating on BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) and increased the firm’s price target to $30 per share from $18, citing Orladeyo potential.
The company has a market cap of $2.7 billion. In the second quarter of 2021, BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) reported an EPS of -$0.24, beating estimates by $0.01. The company’s second-quarter revenue came in at $50 million, up from $2.9 million in the same quarter in 2020. The stock has gained 104%, year to date.
At the end of the first quarter of 2021, 22 hedge funds in the database of Insider Monkey held stakes worth $348 million in BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX), down from 26 in the preceding quarter worth $343 million.
1. Amarin Corporation plc (NASDAQ: AMRN)
Number of Hedge Fund Holders: 22
Price as of August 16: $5.29
Topping the list of 11 biotech stocks popular on Reddit is Amarin Corporation plc (NASDAQ: AMRN). The biopharmaceutical firm based in Dublin sells cardiovascular therapeutics in the US. Amarin Corporation plc (NASDAQ: AMRN) developed Vascepa, an omega-3 fatty acid medication that reduces fat levels in adult patients with severe hypertriglyceridemia.
On August 16, CEO Karim Mikhail announced that the initial readout of the investigator-initiated study PREPARE-IT 1 will take place during the ESC Congress 2021 in the last week of August. The trial is looking into the possible benefits of Vascepa for COVID-19 prevention in people who are at risk of infection. Shares of Amarin Corporation plc (NASDAQ: AMRN) climbed 9.1% in the last five days.
On August 5, Piper Sandler analyst Yasmeen Rahimi kept an Overweight rating on Amarin Corporation plc (NASDAQ: AMRN) with a price target of $19 per share following strong Q2 results. Shares of Amarin Corporation plc (NASDAQ: AMRN) increased 23% in the past month.
The company has a market cap of $2.1 billion. In the second quarter of 2021, Amarin Corporation plc (NASDAQ: AMRN) reported an EPS of $0.02, beating estimates by $0.05. The company’s second-quarter revenue came in at $154.5 million, an increase of 14% year over year and beating revenue estimates by $1.80 million.
At the end of the first quarter of 2021, 22 hedge funds in the database of Insider Monkey held stakes worth $444 million in Amarin Corporation plc (NASDAQ: AMRN), down from 24 in the preceding quarter worth $400 million.
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Disclosure. None. 11 Biotech Stocks Popular On Reddit is originally published on Insider Monkey.
