5 Best One Dollar Stocks To Buy Now

2. Sientra, Inc. (NASDAQ:SIEN)

Number Of Hedge Fund Holders: 18

Share Price as of August 1: $0.97

Sientra, Inc. (NASDAQ:SIEN) is a Santa Barbara-based company that focuses on developing plastic surgery and aesthetics medicine such as cosmetic and reconstructive surgical devices including breast implants, tissue expanders, body contouring implants, and other specialty products.

Earlier this May, Canaccord analyst Kyle Rose lowered his price target on Sientra, Inc. (NASDAQ:SIEN) to $5 from $8 and kept a Buy rating on the shares. The analyst said momentum in Q1 was surprisingly strong, with the company beating on both revenue and gross margins expectations as it saw earlier than expected operational leverage.

On July 6, Sientra, Inc. (NASDAQ:SIEN) announced that the FDA approved the Low Plus Profile Projection Breast Implant for breast augmentation in women at least 22 years old, and for women of all ages undergoing breast reconstruction. This product will be commercially available for board-certified and board-eligible plastic surgeons in the United States in late July. Sientra will be the first and only implant maker within the United States to offer 80cc and 110cc gel implants.

Among the hedge funds tracked by Insider Monkey, 18 funds reported owning long positions in Sientra, Inc. (NASDAQ:SIEN) at the end of Q1 2022, the same as the earlier quarter. Richard Mashaal’s Rima Senvest Management is the leading position holder in the company, with 3.08 million shares worth over $6.85 million.