5 Unknown Biotech Stocks That Can Explode in 2022

4. Seelos Therapeutics, Inc. (NASDAQ:SEEL)

Number of Hedge Fund Holders: 8  

Seelos Therapeutics, Inc. (NASDAQ:SEEL) is a biopharma firm developing drugs for the treatment of central nervous system, respiratory, and other disorders. On May 18, the company announced that it had obtained a patent approval for SLS-007, a drug being developed by the firm for treating various neurodegenerative diseases. The firm is administering the drug in a preclinical trial through an adeno-associated virus. Preliminary data from a study into the drug is expected in the second half of 2022.

In March, B Riley analyst Mayank Mamtani maintained a Buy rating on Seelos Therapeutics, Inc. (NASDAQ:SEEL) stock and lowered the price target to $4 from $6, identifying the higher operating expenditure ramp of the firm as one of the reasons behind the target drop. 

Among the hedge funds being tracked by Insider Monkey, California-based investment firm Woodline Partners is a leading shareholder in Seelos Therapeutics, Inc. (NASDAQ:SEEL) with 2.8 million shares worth more than $2.3 million. 

At the end of the first quarter of 2022, 8 hedge funds in the database of Insider Monkey held stakes worth $9.5 million in Seelos Therapeutics, Inc. (NASDAQ:SEEL), compared to 10 in the preceding quarter worth $22 million.