5 Penny Stocks Robinhood Traders are Buying in 2021

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1. Applied Genetic Technologies Corporation (NASDAQ: AGTC)

Number of Hedge Fund Holders: 13      

Applied Genetic Technologies Corporation (NASDAQ: AGTC) is a Florida-based biotechnology company founded in 1999. It is placed first on our list of 10 penny stocks Robinhood traders are buying in 2021. The company’s shares have returned close to 10% to investors over the past month. The company focuses on the development of therapies for the treatment of rare diseases. The company has products in the pipeline for treatment of retinitis pigmentosa, advanced retinal disease, and central nervous system disorders, among others. 

In earnings results for the first three months of 2021, posted on May 17, Applied Genetic Technologies Corporation (NASDAQ: AGTC) reported earnings per share of -$0.40, beating market estimates by $0.02. 

On May 13, Applied Genetic Technologies Corporation (NASDAQ: AGTC) had announced that it would be leasing a manufacturing facility to help with expansion plans related to two drug programs.

At the end of the first quarter of 2021, 13 hedge funds in the database of Insider Monkey held stakes worth $23.4 million in Applied Genetic Technologies Corporation (NASDAQ: AGTC), up from 8 in the preceding quarter worth $19.8 million. 

You can also take a peek at Billionaire Stan Druckenmiller’s Top 10 Stock Picks and Billionaire Julian Robertson On Interest Rates and His Top Stock Picks For 2021.

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