14 Best NASDAQ Stocks to Buy According to Hedge Funds

Group 1: Market Insights - Mega-cap tech stocks are currently under-owned, with the largest gap in ownership by actively managed funds in over 16 years, according to Morgan Stanley [1][2] - The average underweighting of mega-cap tech stocks increased to 1.4% at the end of Q2 2023, up from 1.15% at the end of Q1 2023, indicating a potential shift towards a more balanced portfolio distribution [2] Group 2: Company Highlights - Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) has received extended FDA approval for its drug Evkeeza, now allowing treatment for children aged 1 to under 5 years with homozygous familial hypercholesterolemia [7][8] - Evkeeza has shown the ability to lower LDL-C levels by about 50% compared to placebo when added to standard therapies, highlighting its effectiveness in treating a severe genetic condition [10] - MongoDB Inc. (NASDAQ:MDB) launched MongoDB AMP, an AI-powered Application Modernization Platform, aimed at helping enterprises modernize legacy applications quickly and efficiently [12][13] - The MongoDB AMP platform has demonstrated the capability to accelerate modernization projects by 2-3 times and speed up code transformation tasks by over 10 times, addressing the significant technical debt burden faced by enterprises [14]