In this article, we will take a look at the 5 best multibagger penny stocks to buy. To see more such companies, go directly to 12 Best Multibagger Penny Stocks To Buy.
5. Professional Diversity Network, Inc. (NASDAQ:IPDN)
Stock Gains Over the Past One Year: 212%
Professional Diversity Network, Inc. (NASDAQ:IPDN) operates networking platforms that offer recruitment and employment opportunities. Professional Diversity Network, Inc. (NASDAQ:IPDN) is up about 212% over the past one year as of June 29. In May, Professional Diversity Network, Inc. (NASDAQ:IPDN) posted its Q1 results. GAAP EPS in the quarter came in at -$0.11. Revenue in the period fell about 4.4% year over year to $1.96 million.
4. InflaRx N.V. (NASDAQ:IFRX)
Stock Gains Over the Past One Year: 221%
Germany-based InflaRx N.V. (NASDAQ:IFRX) makes inhibitors using C5a technology for a variety of autoimmune and other inflammatory diseases. InflaRx N.V. (NASDAQ:IFRX) is up about 221% over the past one year. InflaRx N.V. (NASDAQ:IFRX) recently appointed Dr. Camilla Chong as Chief Medical Officer (CMO) of InflaRx, effective July 1, 2023.
InflaRx N.V. (NASDAQ:IFRX) recently launched a treatment for critically ill COVID-19 hospitalized patients.
As of the end of the first quarter of 2023, 3 hedge funds tracked by Insider Monkey had stakes in this multibagger penny stock. The biggest stakeholder of InflaRx N.V. (NASDAQ:IFRX) was Aaron Cowen’s Suvretta Capital Management which owns a $4.2 million stake in the company.
3. Muscle Maker, Inc. (NASDAQ:GRIL)
Stock Gains Over the Past One Year: 221%
Muscle Maker, Inc. (NASDAQ:GRIL) operates a restaurant chain specializing in protein-based meals including chicken, seafood, protein shakes, and fruit smoothies. Muscle Maker, Inc. (NASDAQ:GRIL) has gained about 221% in value over the past one year. Muscle Maker, Inc. (NASDAQ:GRIL) recently annoucned its addition to the Russell Microcap Index.
In May, Muscle Maker, Inc. (NASDAQ:GRIL) posted its Q1 results. GAAP EPs in the period came in at -0.04. Revenue in the quarter jumped about 7193% year over year to $212.97 million, meeting estimates.
Ken Griffin’s Citadel has a $175,500 stake in Muscle Maker, Inc. (NASDAQ:GRIL) as of the end of the first quarter of 2023.
2. Rockwell Medical Inc. (NASDAQ:RMTI)
Stock Gains Over the Past One Year: 233%
Michigan-based Rockwell Medical Inc. (NASDAQ:RMTI) makes treatments for diseases such as end-stage renal disease and chronic kidney disease. Rockwell Medical Inc. (NASDAQ:RMTI) was recently cleared to join the Russell Microcap Index.
As of the end of the first quarter of 2023, four hedge funds tracked by Insider Monkey had stakes in Rockwell Medical Inc. (NASDAQ:RMTI). The biggest stakeholder of Rockwell Medical Inc. (NASDAQ:RMTI) was Steven Boyd’s Armistice Capital. The fund owns 364,000 shares of Rockwell Medical Inc. (NASDAQ:RMTI) as of the end of March 2023.
1. Ardelyx Inc. (NASDAQ:ARDX)
Stock Gains Over the Past One Year: 473%
Massachusetts-based biopharmaceutical company Ardelyx Inc. (NASDAQ:ARDX) makes treatments for gastrointestinal and cardiorenal therapeutic areas. Ardelyx Inc. (NASDAQ:ARDX) has gained an eye-popping 473% over the past one year. In May, the US FDA accepted a resubmission from Ardelyx Inc. (NASDAQ:ARDX) for Xphozah (tenapanor) as a chronic kidney disease treatment.
In May Ardelyx Inc. (NASDAQ:ARDX) posted its first quarter results. GAAP EPS in the quarter came in at -$0.13, missing estimates by $0.03. Revenue in the quarter jumped about 2325% year over year to $11.4 million, beating estimates by $0.99 million.
As of the end of the first quarter of 2023, 20 hedge funds tracked by Insider Monkey had stakes in Ardelyx Inc. (NASDAQ:ARDX). The biggest stakeholder of Ardelyx Inc. (NASDAQ:ARDX) during this period was Phill Gross and Robert Atchinson’s Adage Capital Management which owns a $9.82 million stake in the company.
You can also take a peek at 12 Best 5G Stocks To Buy Now and 10 Best Fast Growth Stocks To Buy.
