In this article, we will take a look at the 5 Hot Penny Stocks To Buy According to Hedge Funds. To see more such penny stocks, go directly to 13 Hot Penny Stocks To Buy According to Hedge Funds.
5. Qurate Retail Inc. (NASDAQ:QRTEA)
Number of Hedge Funds: 19
Qurate Retail Inc. (NASDQ:QRTEA) shares have gained about 38% over the past one month. It ranks 5th in our list of the hot penny stocks to buy according to hedge funds. Last month, the Qurate Retail Inc.’s (NASDQ:QRTEA) Chief Accounting Officer and Principal Financial Officer Brian Wendling disclosed the sale of 20,000 QRTEA shares
Out of the 910 hedge funds tracked by Insider Monkey, 19 funds had stakes in Qurate Retail Inc. (NASDQ:QRTEA). The most significant stakeholder of Qurate Retail Inc. (NASDQ:QRTEA) was Bob Peck and Andy Raab’s FPR Partners which owns an $18.3 million stake in Qurate Retail Inc. (NASDQ:QRTEA).
4. Esperion Therapeutics, Inc. (NASDAQ:ESPR)
Number of Hedge Funds: 19
Michigan-based Esperion Therapeutics, Inc. (NASDAQ:ESPR) shares have gained about 60% over the past one month. Last month Esperion Therapeutics, Inc. (NASDAQ:ESPR) posted third quarter results. GAAP EPS in the quarter came in at -$0.37, beating estimates by $0.06. Revenue in the quarter jumped about 78.9% year over year to $34 million, beating estimates by $3.85 million.
As of the end of the third quarter of 2023, 19 hedge funds tracked by Insider Monkey reported owning stakes in Esperion. The biggest stakeholder of Esperion Therapeutics, Inc. (NASDAQ:ESPR) was Two Seas Capital.
3. The RealReal, Inc (NASDAQ:REAL)
Number of Hedge Funds: 23
Ecommerce company The RealReal, Inc (NASDAQ:REAL) ranks 3rd in our list of the hot penny stocks to buy according to hedge funds. The stock jumped last month after The RealReal, Inc (NASDAQ:REAL) posted strong Q3 results and posted a narrower-than-expected loss. Needham analyst Anna Andreeva said The RealReal, Inc (NASDAQ:REAL) would be able to swing to profit without new revenue streams.
“We are bullish on the circular economy’s growth potential, and we see REAL as the only luxury marketplace operating at scale. REAL is making progress removing friction from supply, plus we expect self-help initiatives (growing brand visibility, improving pricing through data and automation, building retail stores) to drive sales and profitability higher,” Anna Andreeva said.
Out of the 910 hedge funds tracked by Insider Monkey, 23 hedge funds reported owning stakes in The RealReal, Inc (NASDAQ:REAL) . The most significant stakeholder of The RealReal, Inc (NASDAQ:REAL) was Mark Broach’s Manatuck Hill Partners which owns a $7.7 million stake in The RealReal, Inc (NASDAQ:REAL).
2. Mersana Therapeutics, Inc (NASDAQ:MRSN)
Number of Hedge Funds: 28
Mersana Therapeutics, Inc (NASDAQ:MSRN) shares have gained about 46% over the past one month. The stock jumped thanks to the broader optimism in the industry after AbbVie (NYSE:ABBV) agreed to acquire ImmunoGen (NASDAQ:IMGN), a developer of antibody-drug conjugates ((ADCs)) for cancer treatment.
As of the end of the third quarter of 2023, 28 hedge funds out of the 910 funds tracked by Insider Monkey were long MRSN. The biggest stakeholder of Mersana Therapeutics, Inc (NASDAQ:MSRN) was Oleg Nodelman’s EcoR1 Capital which owns a $25 million stake in Mersana Therapeutics, Inc (NASDAQ:MSRN).
1. Gossamer Bio, Inc (NASDAQ:GOSS)
Number of Hedge Funds: 33
Gossamer Bio, Inc (NASDAQ:GOSS) shares have gained about 67% over the past one month.
As of the end of the third quarter of 2023, 33 hedge funds tracked by Insider Monkey reported owning stakes in Gossamer Bio, Inc (NASDAQ:GOSS). The biggest stakeholder of the firm was Oleg Nodelman’s EcoR1 Capital which owns a $7.7 million stake in Gossamer Bio, Inc (NASDAQ:GOSS).
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Disclosure: None. You can also take a look at the 10 Best Debt Free Penny Stocks To Buy Now and the 16 Most Profitable Penny Stocks Now.
