In this piece, we will look at the ten stocks under $30 to buy today according to billionaire Steven Cohen. If you want to see more cheap stocks in the billionaire’s hedge fund’s portfolio, then head on to 10 Stocks Under $30 to Buy Today According to Billionaire Steven Cohen.
5. Sotera Health Company (NASDAQ:SHC)
Point72 Asset Management’s Holdings: $64.8 million
Percentage of Point72 Asset Management’s Portfolio: 0.25%
Number of Hedge Fund Holders: 16
Share price on May 27, 2022: $20.40
Sotera Health Company (NASDAQ:SHC) is a healthcare company that has developed its business model around several technologies such as sterilization and analytical testing. It is headquartered in Broadview Heights, Ohio, United States.
Point72 Asset Management owned 2.9 million Sotera Health Company (NASDAQ:SHC) shares as part of its Q1 2022 investment portfolio. These enabled it to hold a $64.8 million stake in the company. Insider Monkey’s 912 hedge fund portfolio analysis for the same time period revealed that 16 had also bought the company’s shares.
Sotera Health Company (NASDAQ:SHC) reported $236 million in revenue and $0.22 in non-GAAP EPS for its fiscal first quarter earnings. This ended up impressing Wall Street as the firm beat analyst estimates for both metrics. Subsequently, Wolfe Research set a $26 price target and an Outperform rating for the company’s shares in April 2022.
Sotera Health Company (NASDAQ:SHC)’s largest investor is Sharlyn C. Heslam’s Stockbridge Partners which owns 9.2 million shares that are worth $199 million.
4. Xenon Pharmaceuticals Inc. (NASDAQ:XENE)
Point72 Asset Management’s Holdings: $65.6 million
Percentage of Point72 Asset Management’s Portfolio: 0.26%
Number of Hedge Fund Holders: 40
Share price on May 27, 2022: $26.54
Xenon Pharmaceuticals Inc. (NASDAQ:XENE) is a biotechnology company that is based in Burnaby, Canada. The firm focuses on developing treatments for neurological diseases such as epilepsy and the resulting complications.
As part of its first fiscal quarter results, Xenon Pharmaceuticals Inc. (NASDAQ:XENE) revealed that it had managed to earn $8.7 million in revenue and -$0.35 in GAAP EPS, beating Wall Street estimates for both. The company kicked off a trial of its drug for major depressive disorder in May 2022.
Mr. Cohen’s investment firm had invested $65.6 million in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by owning 2.1 million shares of the company in the first quarter of this year. For the same time period, 40 of the 912 hedge funds part of Insider Monkey’s study had also bought the company’s shares.
Kurt Von Emster’s VenBio Select Advisor is Xenon Pharmaceuticals Inc. (NASDAQ:XENE)’s largest investor. It owns 4.9 million shares that are worth $152 million.
3. Protagonist Therapeutics, Inc. (NASDAQ:PTGX)
Point72 Asset Management’s Holdings: $69 million
Percentage of Point72 Asset Management’s Portfolio: 0.27%
Number of Hedge Fund Holders: 24
Share price on May 27, 2022: $8.3
Protagonist Therapeutics, Inc. (NASDAQ:PTGX) is an American biotechnology firm headquartered in Newark, California. It develops treatments that target diseases of the liver and blood, among others. The diseases include hemochromatosis and inflammatory bowel disease.
Insider Monkey’s analysis of Point72Asset Management’s investments for 2022’s January quarter revealed that the fund had held a $69 million stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) through 2.9 million shares. Similarly, our scan of 912 hedge fund portfolios for Q1 2022 outlined 24 as having invested in the firm.
Protagonist Therapeutics, Inc. (NASDAQ:PTGX) earned $25 million in revenue and -$0.43 in GAAP EPS during its first fiscal quarter, beating analyst estimates for both. Piper Sandler reduced its price target to $35 from $60 in May 2022, adding that the company will share more drug trial data in June 2022.
Protagonist Therapeutics, Inc. (NASDAQ:PTGX)’s largest investor is Mark Lampert’s Biotechnology Value Fund / BVF Inc which owns 4.1 million shares that are worth $99 million.
2. FibroGen, Inc. (NASDAQ:FGEN)
Point72 Asset Management’s Holdings: $70 million
Percentage of Point72 Asset Management’s Portfolio: 0.27%
Number of Hedge Fund Holders: 15
Share price on May 27, 2022: $9.2
FibroGen, Inc. (NASDAQ:FGEN) is a biotechnology company that develops treatments for kidney diseases, dystrophy, cancer, fibrosis, and others. It is based in San Francisco, California, United States.
By the end of its fiscal Q1, FibroGen, Inc. (NASDAQ:FGEN) had brought in $60 million in revenue and -$0.68 in GAAP EPS, pleasing Wall Street by surpassing its estimates for both. The company aims to conduct several drug studies for cancer and other diseases during this year and the next.
Point72 Asset Management held a $70 million stake in FibroGen, Inc. (NASDAQ:FGEN) by the end of this year’s January quarter. This came through 5.8 million shares and represented 0.27% of its investment portfolio. During the same time period, 15 of the 912 hedge funds part of Insider Monkey’s research had also invested in the company.
Guy Levy’s Soleus Capital is FibroGen, Inc. (NASDAQ:FGEN)’s second largest investor. It owned one million shares as Q1 2022 came to an end, and these were worth $12 million.
1. Exelixis, Inc. (NASDAQ:EXEL)
Point72 Asset Management’s Holdings: $155 million
Percentage of Point72 Asset Management’s Portfolio: 0.61%
Number of Hedge Fund Holders: 33
Share price on May 27, 2022: $18.19
Exelixis, Inc. (NASDAQ:EXEL) is an American biotechnology company that devotes all of its efforts to develop cancer treatments. It is headquartered in Alameda, California and its treatments target melanoma, thyroid cancer, solid tumors, and lymphoma.
Mr. Cohen’s investment firm owned a $155 million stake in Exelixis, Inc. (NASDAQ:EXEL) during Q1 2022. This came through 6.8 million shares and it represented 0.61% of Point72 Asset Management’s investment portfolio. Insider Monkey surveyed 912 hedge funds for the 2022 January quarter and discovered that 33 had also invested in the company.
Exelixis, Inc. (NASDAQ:EXEL) raked in $355 million in revenue and $0.26 in non-GAAP EPS during its fiscal Q1. The results saw the firm miss analyst revenue estimates but beat them for non-GAAP EPS. Jefferies kept a $28 price target for the company in May 2022, outlining that positive patent litigation dispute resolution can inject fresh life into the shares.
Exelixis, Inc. (NASDAQ:EXEL)’s largest investor is Jim Simons’s Renaissance Technologies which owns 16.8 million shares that are worth $382 million,
Disclosure: None. You can also take a look at 10 Best Nickel Stocks to Buy Now and Top 10 Small-Cap Stocks Added to Billionaire Mario Gabelli’s Portfolio.
