5 Best Biotech Penny Stocks to Buy Now

Page 5 of 5

1. Annexon, Inc. (NASDAQ:ANNX)

Number of Hedge Fund Holders: 32

California-based biopharmaceutical company Annexon, Inc. (NASDAQ:ANNX) makes treatments for autoimmune, neurodegenerative, and ophthalmic disorders. Annexon, Inc. (NASDAQ:ANNX) tops our list of the best biotech penny stocks since 32 hedge funds in Insider Monkey’s database held stakes in the company as of the end of the first quarter of 2023. Annexon, Inc. (NASDAQ:ANNX) got hammered in May after the company’s candidate for geographic atrophy failed to meet its primary endpoint. BofA downgraded Annexon, Inc. (NASDAQ:ANNX) to Neutral from Buy.

The biggest stakeholder of Annexon, Inc. (NASDAQ:ANNX) as of the end of the first quarter was Phill Gross and Robert Atchinson’s Adage Capital Management which had a $13.6 million stake in the company.

You can also take a peek at 20 Best Burger Chains in the US and 10 Oversold Blue Chip Stocks To Buy.

Page 5 of 5