5 Cash-Rich Penny Stocks Hedge Funds Are Buying

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1. Vanda Pharmaceuticals Inc (NASDAQ:VNDA)

Number of Hedge Fund Investors: 22

Free Cash Flow (TTM): $25M

Vanda Pharmaceuticals Inc (NASDAQ:VNDA) tops our list of cash-rich penny stocks in terms of hedge fund sentiment. Over the past 12 months Vanda Pharmaceuticals Inc’s (NASDAQ:VNDA) FCF stands at over $25 million.

As of the end of the third quarter of 2023, 22 hedge funds had stakes in Vanda Pharmaceuticals Inc (NASDAQ:VNDA). The biggest stakeholder of Vanda Pharmaceuticals Inc (NASDAQ:VNDA) during this period was Israel Englander’s Millennium Management which owns an $8.7 million stake in Vanda Pharmaceuticals Inc (NASDAQ:VNDA).

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also look at the  13 Best Get Rich Quick Stocks To Buy and the 13 Cash-Rich Small Cap Stocks To Invest In.

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