The biotech sector has been in prime focus among investors for quite a while and especially in the past two years. Hence, it can be said that due to rising interest there are many stocks that might seem a bit overvalued at this point in time.
However, amidst all that, there are undervalued biotech stocks as well which investors could take an interest in. This article tries to give you a glimpse into three biotech stocks which could be considered undervalued at this point in time.
XORTX Therapeutics Inc (NASDAQ:XRTX) – The first one among the undervalued biotech stocks to look into is the XORTX Therapeutics Inc stock. In fact, the company was in the news on Tuesday after it made a key announcement and that led to significant interest in the stock.
On Tuesday, as much as $10 million worth of the stock was traded. The company, which is involved in the development of therapies meant for progressive kidney disease, announced on that day that it had commenced the dosage of its subjects in the study related to study into XRX-OXY-101 bridging pharmacokinetics.
In addition to that, it was also noted that XORTX had also managed to complete the recruitment of the subject for the first phase of the three-part study and it goes without saying that it was another significant announcement.
At this point, it is going to be interesting to see if the stock gets the attention of investors over the coming days. Eventually, the company is looking to conduct a trial in which it seeks to test the product in an oral dosage for the treatment of autosomal dominant polycystic kidney disease (ADPKD). It should be noted that ADPKD is a disease of the kidney that afflicts in excess of 10 million all over the world and hence, it goes without saying that a significant market exists for XORTX if things actually go as planned. It could be a good move to keep an eye on these developments over the coming days.
Immunoprecise Antibodies Ltd (NASDAQ:IPA) – The other undervalued biotech stock in the market at this point in time is IPA. There has not been a lot of news about the company in recent days but back on April 20, IPA had made a major announcement with regards to its antibody cocktail PolyTope TATX-03. It may be a good idea for investors to take a closer look at the news.
IPA announced that the laboratory data with regards to the antibody cocktail had shown that it could neutralize the new COVID 19 variant Omicron. It was a major new announcement from the company considering the fact that it is the latest variant and remains a cause for concern in many nations. At this point in time, it is going to be interesting to see if the IPA stock does manage to get traction among investors who are looking into under-the-radar biotech companies. It may be a good idea to keep an eye on the developments.
