5 Penny Stocks with Upcoming Growth Catalysts

2. TRACON Pharmaceuticals, Inc. (NASDAQ: TCON)

Number of Hedge Fund Holders: 6   

TRACON Pharmaceuticals, Inc. (NASDAQ: TCON) is placed second on our list of 10 penny stocks with upcoming growth catalysts. The firm develops and sells biopharmaceutical products and is headquartered in California.

TRACON Pharmaceuticals, Inc. (NASDAQ: TCON) is slated to present a corporate review at the HC Wainwright 23rd Annual Global Investment Conference, boosting the profile of the firm to investors from around the world by offering a detailed look at the drugs pipeline. 

Out of the hedge funds being tracked by Insider Monkey, Texas-based investment firm Ikarian Capital is a leading shareholder in TRACON Pharmaceuticals, Inc. (NASDAQ: TCON) with 2.7 million shares worth more than $17 million. 

At the end of the second quarter of 2021, 6 hedge funds in the database of Insider Monkey held stakes worth $37 million in TRACON Pharmaceuticals, Inc. (NASDAQ: TCON), the same as in the preceding quarter worth $48 million.