5 Oversold NASDAQ Stocks to Buy

In this article, we will take a look at the 5 oversold NASDAQ stocks to buy. To read our analysis of the recent trends and market activity, you can go to the 10 Oversold NASDAQ Stocks to Buy.

5. Vir Biotechnology, Inc. (NASDAQ:VIR)

14-day RSI as of July 28: 23.76

Number of Hedge Fund Holders: 22

San Francisco, California-based Vir Biotechnology, Inc. (NASDAQ:VIR) is a commercial-stage immunology company focused on the development of therapies to treat and prevent serious infectious diseases. Its current development pipeline consists of product candidates targeting COVID-19, hepatitis B and D viruses, influenza A and human immunodeficiency virus.

On July 20, Vir Biotechnology, Inc. (NASDAQ:VIR) announced that the Phase 2 Prevention of Illness Due to Influenza A (PENINSULA) trial evaluating VIR-2482 for the prevention of symptomatic influenza A illness did not meet primary or secondary efficacy endpoints.

Following the announcement, Barclays lowered the price target for Vir Biotechnology, Inc. (NASDAQ:VIR) shares to $41 from $59 while maintaining an ‘Overweight’ rating. The price target represents a potential upside of 189.96% based on the share price on July 28.

As of Q1 2023, Vir Biotechnology, Inc. (NASDAQ:VIR) shares were owned by 22 of the 943 hedge funds tracked by Insider Monkey, with a total value of $161 million. Notable hedge fund investors included Point72 Asset Management, Avidity Partners Management, and Renaissance Technologies, among others.