5 Best Penny Stocks to Buy Now

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1. Gossamer Bio, Inc. (NASDAQ:GOSS)

Number of Hedge Fund Holders: 33

Share Price as of December 20: $2.73

Gossamer Bio, Inc. (NASDAQ:GOSS) is a biopharmaceutical company. Its primary objective is to discover, develop, and market treatments for diseases related to inflammation, immunology, and oncology. On December 8, H.C. Wainwright analyst Patrick Trucchio maintained a Buy rating on Gossamer Bio, Inc. (NASDAQ:GOSS) stock and lowered his price target to $5 from $25. Trucchio updated his price target because results from TORREY, a Phase 2 study to evaluate the efficacy and safety of inhaled seralutinib for the treatment of pulmonary arterial hypertension, fell short of expectations.

The number of hedge funds tracked by Insider Monkey owning stakes in Gossamer Bio, Inc. (NASDAQ:GOSS) grew to 33 in Q3 2022, from 23 in the previous quarter. The collective value of these stakes is nearly $401 million. It is one of the top penny stocks to buy now according to elite hedge funds.

You can also take a peek at 10 Best Bargain Stocks To Buy Right Now and 10 Best Infrastructure Stocks To Buy Now.

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