In this article, we discuss the 5 biotech penny stocks to buy now. If you want to read our detailed analysis of these stocks, go directly to the 10 Biotech Penny Stocks to Buy Now.
5. Kaleido Biosciences, Inc. (NASDAQ:KLDO)
Number of Hedge Fund Holders: 4
Kaleido Biosciences, Inc. (NASDAQ:KLDO) is a clinical-stage healthcare firm that develops microbiome metabolic therapies. The company recently announced that it had signed a strategic collaboration with the COPD Foundation to study KB109, a drug under development for treatment of patients with chronic obstructive pulmonary disease. The Phase 2 trial of the drug will begin early next year.
On November 12, investment advisory Chardan kept a Buy rating on Kaleido Biosciences, Inc. (NASDAQ:KLDO) stock with a price target of $11. Keay Nakae, an analyst at the advisory, issued the ratings update.
Among the hedge funds being tracked by Insider Monkey, California-based investment firm Palo Alto Investors is a leading shareholder in Kaleido Biosciences, Inc. (NASDAQ:KLDO) with 786,400 shares worth more than $4.2 million.
4. Entera Bio Ltd. (NASDAQ:ENTX)
Number of Hedge Fund Holders: 5
Entera Bio Ltd. (NASDAQ:ENTX) is a biopharma firm that concentrates on the development of orally-delivered therapeutics. In early October, the company had shared positive mid-stage data from a study of EB613, a drug for the treatment of osteoporosis.
Entera Bio Ltd. (NASDAQ:ENTX) posted earnings for the first half of the year in August, reporting a revenue of $0.27 million, up over 170% compared to the revenue over the same period last year and beating estimates by $0.2 million.
Among the hedge funds being tracked by Insider Monkey, New York-based firm Knoll Capital Management is a leading shareholder in Entera Bio Ltd. (NASDAQ:ENTX) with 2.4 million shares worth more than 11 million.
3. Agile Therapeutics, Inc. (NASDAQ:AGRX)
Number of Hedge Fund Holders: 6
Agile Therapeutics, Inc. (NASDAQ:AGRX) operates as a women’s healthcare firm. The company beat market estimates on earnings per share for the third quarter by $0.01 and reported a revenue of $1.2 million over the period.
H.C. Wainwright analyst Oren Livnat has a Buy rating on Agile Therapeutics, Inc. (NASDAQ:AGRX) stock with a price target of $2.5. In a recent investor note, the analyst noted that the company was driving steady growth through the flagship Twirla product.
Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Perceptive Advisors is a leading shareholder in Agile Therapeutics, Inc. (NASDAQ:AGRX) with 15.9 million shares worth more than $15 million.
2. Second Sight Medical Products, Inc. (NASDAQ:EYES)
Number of Hedge Fund Holders: 6
Second Sight Medical Products, Inc. (NASDAQ:EYES) makes and sells microbiome metabolic therapies. The stock has surged manifold since July after the firm was granted a patent by European authorities regarding field focusing and mapping in an electrode array.
Second Sight Medical Products, Inc. (NASDAQ:EYES) recently announced that it had won a grant from the National Institutes of Health for the trial of Orion, a device developed by the firm to provide artificial vision for blind people.
At the end of the third quarter of 2021, 6 hedge funds in the database of Insider Monkey held stakes worth $20 million in Second Sight Medical Products, Inc. (NASDAQ:EYES), the same as in the preceding quarter worth $4 million.
1. Leap Therapeutics, Inc. (NASDAQ:LPTX)
Number of Hedge Fund Holders: 21
Leap Therapeutics, Inc. (NASDAQ:LPTX) is a biopharma firm focusing on the development of treatments for cancer. The company has a market cap of $224 million and was founded in 2011. The 52-week price range of the stock lies between $1.3 and $4.1.
Mizuho analyst Mara Goldstein recently initiated coverage of Leap Therapeutics, Inc. (NASDAQ:LPTX) stock with a Buy rating and a price target of $6, appreciating the development of pipeline drugs of the company.
At the end of the third quarter of 2021, 21 hedge funds in the database of Insider Monkey held stakes worth $115 million in Leap Therapeutics, Inc. (NASDAQ:LPTX), up from 9 the preceding quarter worth $23 million.
You can also take a peek at 10 Best Medical Stocks Under $10 and 15 Best Warren Buffett Stocks to Buy Now.
