5 Stocks to Invest In Under $20 According to Michael Castor’s Sio Capital

4. Pardes Biosciences, Inc. (NASDAQ:PRDS)

Sio Capital’s Stake Value: $5.1 million

Percentage of Sio Capital’s 13F Portfolio: 1.54%

Number of Hedge Fund Holders: 18

Stock Price as of May 10, 2022: $2.16

Pardes Biosciences, Inc. (NASDAQ:PRDS) is an American biotechnology firm based in Carlsbad, California. The company focuses its efforts on developing treatments for life threatening diseases, and it is currently working on a treatment for SARS Coronavirus 2 and other similar diseases.

By the end of its latest fiscal year, Pardes Biosciences, Inc. (NASDAQ:PRDS) posted -$10.13 in GAAP EPS alongside reporting cash and equivalents of $268.7 million for the twelve months ending in December 2021. SVB Leernik set an $18 price target for the firm in March 2022, as it stated that the coronavirus pandemic is rapidly evolving, which creates the need for more therapies.

Dr. Castor’s hedge fund held a $5.1 million stake in Pardes Biosciences, Inc. (NASDAQ:PRDS) as part of its Q4 2021 investment portfolio. This came in the form of 312,438 shares and it represented 1.54% of the firm’s investment portfolio. Insider Monkey profiled 924 hedge fund holdings for 2021’s final quarter to discover that 18 had bought the company’s shares.