Part 1. 5 risky stocks with huge upside potential.
Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)
Number of hedge fund holders: 4
Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) is a biotechnology company focused on psychedelic medicine. Currently, the shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD), which are penny stocks, may rise in the future given the world's growing attention to the health and mental health benefits of psychedelics. According to TipRanks, the average analyst score for Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) is $26 (median) and $74 (max). These target prices show huge potential benefits.
President Joe Biden's brother Frank Biden recently said during an interview that President Joe Biden is very "open-minded" about psychedelic drugs.
Applied Therapeutics, Inc. (NASDAQ:APLT)
Number of hedge fund holders: 8
Applied Therapeutics, Inc. (NASDAQ:APLT) is a clinical-stage biotech company that Wall Street analysts say has strong growth potential. The European Medicines Agency (EMA) awarded Applied Therapeutics, Inc. (NASDAQ:APLT) status of the orphan drug AT-007 (Govorestat) for the treatment of sorbitol dehydrogenase deficiency (SORD).
Applied Therapeutics, Inc. (NASDAQ:APLT) estimates the average analyst price at the top of the range at $14, showing upside potential of 1300%. A total of 8 hedge funds tracked by Insider Monkey had stakes in Applied Therapeutics, Inc. (NASDAQ:APLT). The largest shareholder of hedge fund Applied Therapeutics, Inc. (NASDAQ: APLT) during this period was Fred Knoll's Knoll Capital Management, which owns a $2.8 million stake in the company.
Virgin Galactic Holdings, Inc. (NYSE:SPCE)
Number of hedge fund holders: 12
Virgin Galactic Holdings Inc. (NYSE:SPCE) are high-risk, high-reward stocks that have the potential to deliver big returns as they operate in the space industry where barriers to entry are high and the return potential is huge. Virgin Galactic Holdings Inc. (NYSE:SPCE) recently ushered in the era of space tourism with its first human commercial flight. Virgin Galactic Holdings Inc. (NYSE:SPCE) plans to launch another flight in August and then begin monthly flights with paying customers. According to media reports, the company has 800 customers, many of whom have bought tickets for between $200,000 and $250,000 each. Virgin Galactic Holdings Inc. (NYSE:SPCE) increased ticket prices to $450,000 per seat.
Atara Biotherapy Inc. (NASDAQ:ATRA)
Number of hedge fund holders: 14
Atara Biotherapy Inc. (NASDAQ:ATRA) operates in the multiple sclerosis drug market, which is expected to reach approximately $34 billion by 2031. in October 2023.
John Newman of Canaccord Genuity has set a price target of $20.98 for Atara Biotherapys Inc. (NASDAQ:ATRA), which shows over 1,000 percent upside potential from current levels.
As of the end of Q1 2023, 14 hedge funds tracked by Insider Monkey had stakes in Atara Biotherapys Inc. (NASDAQ:ATRA). The largest shareholder of hedge fund Atara Biotherapys Inc. (NASDAQ:ATRA) during this period was Leigh Ainslie's Maverick Capital, which owns an $18.24 million stake in the company.
Malibu Boats Inc. (NASDAQ:MBUU)
Number of hedge fund holders: 15
The Wall Street Zen website has a ten-pack stock screener that applies several conditions based on earnings growth, industry PE versus company PE, among other factors, to find stocks with 10x potential. Malibu Boats Inc. (NASDAQ:MBUU) tops the list of stocks listed on this screen with the highest "Zen valuation".
In May, Malibu Boats Inc. (NASDAQ:MBUU) released third-quarter financial results.
The company's adjusted earnings per share for the period were $2.59, beating estimates by $0.25. Revenue for the period jumped 8.9% year-on-year to $375.1 million, beating estimates by $31.92 million.
As of the end of the first quarter of 2023, 15 hedge funds in the Insider Monkey database had stakes in Malibu Boats Inc. (NASDAQ: MBUU). Major shareholder of Malibu Boats Inc. (NASDAQ: MBUU) were Doug Gordon, John Hilsabek and Don Jabro's Shellback Capital, who owns a $11.2 million stake in the company.