Top 5 Stocks Activist Investors Are Targeting

In this article, we’ll take a closer look at top 5 stocks activist investors are targeting. For a more comprehensive list, take a look at top 10 stocks activist investors are targeting.

5. Dice Therapeutics Inc (NASDAQ:DICE)

Next in line in our list of top 10 stocks activist investors are targeting is another healthcare company in which RA Capital increased its position. Peter Kolchinsky’s fund added 811,700 shares to its position in Dice Therapeutics Inc (NASDAQ:DICE) bringing it to a total of 7.66 million shares, which represent 16.05% of the outstanding stock.

Dice Therapeutics Inc (NASDAQ:DICE) is a clinical-stage biopharmaceutical company that focuses on oral treatments for chronic autoimmune and inflammatory diseases. Its lead candidate is a product for the treatment of psoriasis and in October the company reported positive Phase 1 trial results, with a reduction in Psoriasis Area and Severity Index of more than 47% in the high dose group compared to 13% in the placebo group. On the back of the positive trial data, the company’s stock more than doubled but has lost some of the gains since then.

Most analysts have a positive outlook on Dice Therapeutics Inc (NASDAQ:DICE) stock. For example, Needham & Company initiated coverage on the stock at the end of March, assigning a Buy rating and $56 price target. In its latest quarterly results, the company reported a net loss of $0.51 per share and more than $574 million in cash, cash equivalents and marketable securities, which should be enough to fund the company’s operations for the near future.