In this piece, we will take a look at the five biotechnology stocks to buy today according to Kerr Neilson’s Platinum Asset Management. If you want details about the hedge fund and more stocks, then head on over to 10 Biotech Stocks to Buy Today According to Kerr Neilson’s Platinum Asset Management.
5. Icosavax, Inc. (NASDAQ:ICVX)
Platinum Asset Management’s Stake Value: $18.6 million
Percentage of Platinum Asset Management’s 13F Portfolio: 0.51%
Number of Hedge Fund Holders: 10
Icosavax, Inc. (NASDAQ:ICVX) is a biotechnology company that is headquartered in Seattle, Washington, United States. It focuses its efforts on developing treatments for infectious diseases. These include respiratory viruses such as the SARS COV-2. Its SARS COV-2 drug is currently under clinical trials.
Mr. Neilson’s hedge fund owned 816,366 Icosavax, Inc. (NASDAQ:ICVX) shares by the end of the fourth quarter of last year. These were worth $18.6 million and represented 0.51% of the firm’s investment portfolio. During the same time period, 10 out of the 924 hedge funds polled by Insider Monkey had also invested in the company.
Icosavax, Inc. (NASDAQ:ICVX) brought in $2 million in revenue and -$0.46 in GAAP EPS for its fiscal fourth quarter, for a mixed bag of results that saw it beat revenue but miss EPS estimates. Evercore ISI slashed the company’s share price target to $10 from $50 in March 2022 after the company’s vaccine failed to meet expectations.
Icosavax, Inc. (NASDAQ:ICVX)’s largest investor is Peter Kolchinsky’s RA Capital Management which owns 5.7 million shares worth $132 million.