In this article, we discuss the 5 penny stocks with long-term growth catalysts. If you want to read our detailed analysis of these stocks, go directly to the 10 Penny Stocks With Long-Term Growth Catalysts.
5. Ensysce Biosciences, Inc. (NASDAQ:ENSC)
Number of Hedge Fund Holders: N/A
Ensysce Biosciences, Inc. (NASDAQ:ENSC) is ranked fifth on our list of 10 penny stocks with long-term growth catalysts. The firm operates as a biotech company that develops drugs for preventing overdoses. It is headquartered in California.
Earlier this month, Ensysce Biosciences, Inc. (NASDAQ:ENSC) announced it had enrolled the first subjects in a clinical study of PF614, a next-generation opioid designed as an extended-release oxycodone prodrug. The stock surged 3% after the announcement.
Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm HG Vora Capital Management is a leading shareholder in Ensysce Biosciences, Inc. (NASDAQ:ENSC) with 3.4 million shares worth more than $50 million.
4. PharmaCyte Biotech, Inc. (NASDAQ:PMCB)
Number of Hedge Fund Holders: 1
PharmaCyte Biotech, Inc. (NASDAQ:PMCB) is a California-based biotech firm that develops cellular therapies for cancer and diabetes. It is placed fourth on our list of 10 penny stocks with long-term growth catalysts.
On September 16, PharmaCyte Biotech, Inc. (NASDAQ:PMCB) stock surged by over 10% after the firm released positive test results on a study of CypCaps, a drug used in the treatment of pancreatic cancer.
At the end of the second quarter of 2021, 1 hedge fund in the database of Insider Monkey held stakes worth $4,000 in PharmaCyte Biotech, Inc. (NASDAQ:PMCB), the same as in the preceding quarter worth $7,000.
3. Arbutus Biopharma Corporation (NASDAQ:ABUS)
Number of Hedge Fund Holders: 5
Arbutus Biopharma Corporation (NASDAQ:ABUS) is a Pennsylvania-based biopharmaceutical firm that develops drugs for patients suffering from chronic diseases. It is ranked third on our list of 10 penny stocks with long-term growth catalysts.
Arbutus Biopharma Corporation (NASDAQ:ABUS) stock has been soaring since reports that the company won a patent case related to the COVID-19 vaccine against Moderna. The firm will be eligible for royalties from the sale of the Moderna vaccines as a result and receive a new patent.
At the end of the second quarter of 2021, 5 hedge funds in the database of Insider Monkey held stakes worth $9 million in Arbutus Biopharma Corporation (NASDAQ:ABUS), down from 15 in the preceding quarter worth $20 million.
Out of the hedge funds being tracked by Insider Monkey, New York-based firm Hudson Bay Capital Management is a leading shareholder in Arbutus Biopharma Corporation (NASDAQ:ABUS) with 1.8 million shares worth more than $5.4 million.
2. 180 Life Sciences Corp. (NASDAQ:ATNF)
Number of Hedge Fund Holders: 7
180 Life Sciences Corp. (NASDAQ:ATNF) is placed second on our list of 10 penny stocks with long-term growth catalysts. The company operates in the biotech industry and develops drugs for the treatment of unmet medical needs. It is headquartered in California.
On September 30, 180 Life Sciences Corp. (NASDAQ:ATNF) stock surged more than 6.5% after the firm was granted a patent for an application related to a new method for reducing post-operative cognitive dysfunction. The firm owns the exclusive rights to the patent.
At the end of the second quarter of 2021, 7 hedge funds in the database of Insider Monkey held stakes worth $9.8 million in 180 Life Sciences Corp. (NASDAQ:ATNF), up from 4 in the preceding quarter worth $1.5 million.
1. Verastem, Inc. (NASDAQ:VSTM)
Number of Hedge Fund Holders: 21
Verastem, Inc. (NASDAQ:VSTM) is ranked first on our list of 10 penny stocks with long-term growth catalysts. The company makes and sells medicines to enhance the life of cancer patients. It is headquartered in Massachusetts.
On September 20, Verastem, Inc. (NASDAQ:VSTM) announced positive new results from an ongoing study of FRAME, a drug for the treatment of patients with low grade serous ovarian cancer. The stock has returned more than 154% to investors over the past year.
At the end of the second quarter of 2021, 21 hedge funds in the database of Insider Monkey held stakes worth $241 million in Verastem, Inc. (NASDAQ:VSTM), up from 12 in the preceding quarter worth $129 million.
Out of the hedge funds being tracked by Insider Monkey, New York-based firm Baker Bros. Advisors is a leading shareholder in Verastem, Inc. (NASDAQ:VSTM) with 21 million shares worth more than $87 million.
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