In this article, we will discuss the 8 Best Fast Growing Penny Stocks to Buy Right Now.
On May 4, Gregory Daco, EY-Parthenon Chief Economist, joined CNBC’s ‘Squawk Box’ to discuss the current state of the US economy and the Fed’s likely trajectory. He described an environment characterized by high nominal growth that is increasingly driven by inflation rather than real growth. While GDP remains relatively strong, Daco argued that the breadth of this growth is dangerously narrow, resting on three specific pillars: affluent consumers, AI investment, and asset price appreciation through stock market gains. He warned that while these pillars can create a virtuous cycle, they are vulnerable to shocks from geopolitical conflicts or doubts regarding AI returns.
Daco elaborated on the overlap between these growth pillars and noted that stock market wealth significantly fuels consumer spending. However, he highlighted a growing fragility beneath the surface. While higher-income families continue to spend freely, lower and median-income families are struggling with high prices. Data from a recent Friday shows that real disposable income grew at only 0.4% year-over-year, while consumer spending advanced at 2%. This discrepancy is further emphasized by the fact that real disposable income has been negative for two of the last three months and three of the last four.
Our Methodology
We used the Finviz Screener to identify stocks trading between $1 and $5 a share and focused on companies that have generated more than 100% sales growth over the past year and 50% growth over the past three years. We limited our final selection to companies that have recently reported noteworthy developments likely to impact investor sentiment. These stocks are also popular among analysts and are ranked in ascending order of the number of hedge funds that have stakes in them, as of Q4 2025.
Note: All data was sourced on May 7.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).
8 Best Fast Growing Penny Stocks to Buy Right Now
8. Gevo Inc. (NASDAQ:GEVO)
Number of Hedge Fund Holders: 10
Gevo Inc. (NASDAQ:GEVO) is one of the best fast growing penny stocks to buy right now. On April 15, Gevo announced its withdrawal from the US Department of Energy’s loan guarantee process for its Alcohol-to-Jet (or ATJ)-30 plant. The decision followed a determination that the department’s requirement to support enhanced oil recovery is not currently commercially viable in the project area. By withdrawing, Gevo aims to pursue alternative financing that better aligns with its corporate strategy and provides improved returns while accelerating the timeline for project execution.
The company plans to continue developing the ATJ-30 project at its recently acquired North Dakota facility, which already features low-carbon ethanol production and carbon sequestration capabilities. Management noted that this site is cash-generating and serves as a strategic foundation for expanding sustainable aviation fuel/SAF production. Gevo Inc. had previously worked with the Department of Energy on a conditional commitment for a South Dakota project, but is now shifting its focus to this more integrated location.
Despite the change in financing direction, Gevo remains committed to securing funding for the plant by the end of 2026. The company believes that its efforts over the past year have significantly reduced risk in its low-carbon ethanol supply chain, putting it in a stronger position to attract private capital. CEO Paul Bloom emphasized that the North Dakota facility’s existing economic foundation will support the company’s broader franchise development strategy for renewable fuels and chemicals.
Gevo Inc. works on abating carbon, providing different kinds of fuel, specific items for the food chain, hydrocarbons for gasoline, and plastic material. It is also engaged in the development, construction, and operation of Alcohol-to-Jet initiatives.
7. TriSalus Life Sciences Inc. (NASDAQ:TLSI)
Number of Hedge Fund Holders: 10
TriSalus Life Sciences Inc. (NASDAQ:TLSI) is one of the best fast growing penny stocks to buy right now. On May 4, TriSalus Life Sciences initiated patient enrollment for the PREDICTT clinical trial, a prospective study evaluating its proprietary Pressure-Enabled Drug Delivery/PEDD technology in patients with primary or metastatic liver tumors. Conducted at The University of Texas MD Anderson Cancer Center, the study uses the TriNav Infusion System to deliver Y90 radioembolization therapy.
The goal is to determine if this pressure-enabled approach can enhance tumor targeting and improve the distribution of radiation doses compared to traditional methods. The investigator-led trial will enroll approximately 20 adult patients with unresectable tumors to analyze how the TriNav system affects tumor-to-normal liver enhancement ratios. Researchers will use CT and SPECT/CT imaging to correlate these measurements with actual microsphere distribution and overall treatment outcomes.
This focus on precision delivery aims to maximize the therapeutic dose to the tumor while minimizing exposure to healthy surrounding liver tissue. The collaboration with MD Anderson represents an effort to generate clinical evidence that could redefine the standard of care for liver-directed therapies. By assessing the safety and efficacy of the TriNav system in conjunction with Y90, TriSalus seeks to address the long-standing challenge of optimizing drug delivery in solid tumors.
TriSalus Life Sciences Inc. develops drug delivery technology platforms and immuno-oncology therapeutics aimed at improving outcomes for patients with difficult-to-treat liver and pancreatic cancers in the US.
6. Autolus Therapeutics (NASDAQ:AUTL)
Number of Hedge Fund Holders: 14
Autolus Therapeutics (NASDAQ:AUTL) is one of the best fast growing penny stocks to buy right now. On April 29, Autolus launched a strategic initiative to improve operational efficiency and accelerate its path to profitability for the acute lymphoblastic leukemia/ALL business. As part of this plan, the company will reduce its workforce by ~13%, a move expected to save $15 million annually starting in 2027. Despite these cuts, Autolus plans to double its manufacturing capacity for commercial and clinical products in 2026 to support growing demand.
The company reaffirmed its 2026 financial guidance for AUCATZYL, projecting net product revenue between $120 million and $135 million, nearly double the previous year’s figures. Management also anticipates a shift to a positive gross margin this year, driven by strong commercial momentum. Restructuring charges of approximately $8 million are expected to be recognized mostly in H1 2026, with the reorganization largely completed by Q3.
Clinical development remains on track across several key programs, including pivotal trials for pediatric leukemia and lupus nephritis, as well as exploratory work in multiple sclerosis. Current cash reserves are projected to fund operations into Q4 2027. CEO Dr. Christian Itin emphasized that while the workforce reduction is difficult, the focus remains on optimizing the operating model and delivering long-term value to stockholders.
Autolus Therapeutics develops T cell therapies for cancer and autoimmune diseases in the United Kingdom and internationally.
5. Ovid Therapeutics Inc. (NASDAQ:OVID)
Number of Hedge Fund Holders: 20
Ovid Therapeutics Inc. (NASDAQ:OVID) is one of the best fast growing penny stocks to buy right now. On April 9, H.C. Wainwright raised the firm’s price target on Ovid Therapeutics to $4 from $2 with a Buy rating on the shares. The company’s OV4071 oral KCC2 candidate is entering the clinic imminently, triggering warrant exercises. The firm says Ovid has multiple additional potential therapeutic applications slated to be explored with its KCC2 portfolio candidates. H.C. Wainwright cited increased confidence in OV329 for the target doubling.
Earlier on March 18, Ovid Therapeutics reported positive safety and tolerability results for the 7 mg dose of OV329, its next-gen GABA-aminotransferase inhibitor intended for drug-resistant epilepsies. The data showed no treatment-related serious adverse events or ophthalmic changes, reinforcing its potential as a best-in-category therapy.
Backed by a $60 million private placement, the company is now expanding the OV329 program to include clinical trials for tuberous sclerosis complex seizures and infantile spasms, with a Phase 2 study for focal onset seizures expected to begin in Q2 2026. The company also received regulatory clearance to begin a Phase 1 trial in Australia for OV4071, a first-in-class oral KCC2 direct activator.
Ovid Therapeutics Inc. is a biopharmaceutical company that develops impactful medicines for patients and families with epilepsies and seizure-related neurological disorders in the US.
4. Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX)
Number of Hedge Fund Holders: 20
Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX) is one of the best fast growing penny stocks to buy right now. On May 7, Lexicon Pharmaceuticals reported Q1 2026 revenue of $21.1 million, a significant increase from $1.3 million in the prior year, driven by $20.0 million in development milestones from its LX9851 partnership with Novo Nordisk. The company achieved a sharp reduction in net loss to $1.0 million, compared to $25.3 million in Q1 2025, benefiting from lower research and marketing expenses.
Lexicon ended the quarter with a strengthened balance sheet featuring $199.7 million in cash and investments, further supported by a new $100 million loan facility from Hercules Capital. On the clinical front, the company is progressing toward several major milestones, including the anticipated mid-2026 completion of enrollment for its Phase 3 SONATA-HCM study of sotagliflozin. The company also expects to resubmit its NDA for ZYNQUISTA in type 1 diabetes by mid-2026, with potential regulatory approval later this year.
Additionally, partner Novo Nordisk has initiated Phase 1 clinical development of LX9851 for obesity, a milestone that earned Lexicon $10 million in March with the potential for another payment later in 2026. Beyond its cardiometabolic pipeline, Lexicon Pharmaceuticals Inc. is preparing for Phase 3 development of pilavapadin (LX9211) for diabetic peripheral neuropathic pain after the FDA raised no objections to its proposed registrational study design.
Lexicon Pharmaceuticals Inc. is a biopharmaceutical company focused on the discovery, development, and commercialization of pharmaceutical products to treat human disease.
3. AtaiBeckley Inc. (NASDAQ:ATAI)
Number of Hedge Fund Holders: 23
AtaiBeckley Inc. (NASDAQ:ATAI) is one of the best fast growing penny stocks to buy right now. On April 22, AtaiBeckley announced expanded Phase 2a results for EMP-01 (oral R-MDMA), showing significant and consistent improvements for adults with Social Anxiety Disorder/SAD. The trial showed a 38% reduction in patient-reported symptoms and a 32% reduction in real-world avoidance behaviors at Day 43, following a two-dose regimen administered without psychotherapy. Notably, 49% of patients treated with EMP-01 were identified as “responders” by both clinicians and themselves, compared to just 12–15% in the placebo group.
The data suggested that EMP-01 may offer a more rapid and durable alternative to current standards of care, such as SSRIs, which typically require daily dosing and longer treatment periods. Improvements were observed across both fear and avoidance subscales, indicating that participants were more capable of engaging in social situations with reduced distress. Clinical experts highlighted the reduction in subtle avoidance behaviors as a particularly meaningful outcome that is rarely captured in traditional medication trials.
On the safety front, EMP-01 was well tolerated with a 97% patient retention rate and no severe or serious adverse events reported. The company plans to continue the development of this candidate as a differentiated, intermittent treatment option designed for scalable outpatient use. With ~30 million adults affected by SAD in the US alone, AtaiBeckley Inc. aims to address a major unmet need for the roughly 50% of patients who do not respond adequately to existing first-line therapies.
AtaiBeckley Inc. is a clinical-stage biopharmaceutical company focused on developing treatments for mental health disorders.
2. EVgo Inc. (NASDAQ:EVGO)
Number of Hedge Fund Holders: 25
EVgo Inc. (NASDAQ:EVGO) is one of the best fast growing penny stocks to buy right now. On May 5, EVgo reported record Q1 2026 revenue of $110 million, a 45% increase year-over-year, driven by double-digit growth in charging network revenue. The company expanded its infrastructure to 5,280 operational stalls, adding over 200 DC fast charging stalls during the quarter and growing its customer base to 1.7 million accounts. Network throughput reached 91 gigawatt-hours, supported by the ongoing deployment of NACS connectors and partnerships across its public and fleet networks.
Financially, EVgo strengthened its position by amending its Department of Energy loan to $750 million in April to support continued network scaling and infrastructure advancement. While the company reported a net loss of $37 million for the quarter, it achieved an adjusted gross profit of ~$30 million. Management noted that capital expenditures, net of offsets, rose to $25 million as the company prioritizes the build-out of next-generation charging stations and high-demand sites.
Looking ahead, EVgo Inc. affirmed its full-year 2026 revenue guidance of $410 million to $470 million and initiated Q2 revenue guidance of $75 million to $85 million. CEO Badar Khan highlighted the company’s leadership in the fast-charging market and its readiness to capitalize on evolving market dynamics.
EVgo Inc. owns and operates direct current fast charging network for EVs. Its product offerings include original equipment manufacturer charging and related services, commercial charging, charging data integration, and microtargeted advertising.
1. Gold Royalty Corp. (NYSEAMERICAN:GROY)
Number of Hedge Fund Holders: 26
Gold Royalty Corp. (NYSEAMERICAN:GROY) is one of the best fast growing penny stocks to buy right now. On May 6, Gold Royalty Corp. achieved record financial results for Q1 2026, reporting $7.2 million in revenue and $9.4 million in total revenue and land agreement proceeds. This performance represented 1,920 gold equivalent ounces/GEOs, with Adjusted EBITDA surging ~318% year-over-year to $7.0 million. The company ended the period with a strong balance sheet, featuring $13.6 million in cash, no debt, and an undrawn $150 million credit facility.
The company remains on track to meet its 2026 outlook of 7,500 to 9,300 GEOs, with Q1 results already exceeding the low end of this guidance on an annualized basis. Significant portfolio progress supported these results, including early production at the Odyssey Mine’s East Gouldie ramp and increased production guidance at the Côté Gold Mine. Management expects production for the remainder of the year to be weighted toward the second half as multiple assets continue their planned ramp-ups.
In a key leadership update, John Griffith has been appointed President of the company, and Jackie Przybylowski will expand her role to include sustainability efforts starting July 1, 2026. These appointments coincide with the company’s fifth anniversary of its initial public offering and the successful generation of 56 royalties through its generator model.
Gold Royalty Corp. is a precious metals-focused royalty company dedicated to providing financing solutions to the metals and mining industry, with a concentration on long-term production growth.
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