Published on 25 May 2023 on Insider Monkey via Yahoo Finance
In this piece, we will take a look at 14 best biotechnology stocks to buy according to hedge funds. For more stocks, head on over to 5 Best Biotech Stocks To Buy According To Hedge Funds.
Biotechnology is one of the hottest sectors these days. A handful of industries, such as space exploration, artificial intelligence, and biotechnology, are making rapid leaps forward. For biotechnology, the greatest stimulus has been the coronavirus pandemic as the industry was solely responsible for bailing humanity out of the devastating crisis.
Simply put, biotechnology is the use of biological raw materials to make vaccines and other products with them. This is in sharp contrast to traditional pharmaceutical applications that use plants and other raw materials to make medicines. Through biotechnology, firms such as Pfizer Inc. (NYSE:PFE), Moderna, Inc. (NASDAQ:MRNA), and BioNTech SE (NASDAQ:BNTX) were able to develop the revolutionary messenger ribonucleic acid (mRNA) vaccines that were able to effectively reduce the severity of the disease. mRNA is simply a storage vehicle for instructions that program cells to produce certain kinds of proteins. For the coronavirus vaccine, these proteins fight the virus molecules and protect the recipient against the disease.