5 Biotech Penny Stocks to Buy According to Reddit

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1. Lineage Cell Therapeutics, Inc. (NYSE: LCTX)

Number of Hedge Fund Holders: 12 

Price as of August 6, 2021: $2.58 per share

Lineage Cell Therapeutics, Inc. (NYSE: LCTX) is ranked first on our list of 10 biotech penny stocks to buy according to Reddit. The firm operates from California as a biotechnology company focused on the development of therapies for treatment of degenerative diseases. The firm beat market expectations on earnings per share in the first quarter. On July 20, the company announced that the interim results from a study into OpGen, a drug for the treatment of macular degeneration. 

In March, investment advisory Cantor Fitzgerald initiated coverage of Lineage Cell Therapeutics, Inc. (NYSE: LCTX) stock with an Overweight rating and a price target of $6, noting that the lead drug programs of the firm gave the shares significant upside potential. 

Out of the hedge funds being tracked by Insider Monkey, New York-based firm Broadwood Capital is a leading shareholder in Lineage Cell Therapeutics, Inc. (NYSE: LCTX) with 34 million shares worth more than $79 million. 

You can also take a peek at 10 Best Medical Stocks Under $10 and 10 Best Cash App Stocks to Invest In.

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