5 Stocks Under $20 to Buy Now

4. AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO)

Number of Hedge Fund Holders: 14

Share Price as of December 14: $14.90  

AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) an oncology-focused biopharmaceutical company, focuses on developing and commercializing medicines for patients with cancer. On October 18, AVEO Pharmaceuticals revealed that it would be acquired by LG Chem, the largest Korean chemical company, for $15.00 per share in an all-cash transaction with an implied equity value of $566 million on a fully diluted basis. Shares of AVEO jumped 38% premarket in response to the news.

At the end of the third quarter of 2022, 14 hedge funds in the database of Insider Monkey held stakes worth $50.3 million in AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO), compared to 9 in the preceding quarter worth $38.7 million.