5 Reddit’s WallStreetBets Stocks Under $5

3. Progenity, Inc. (NASDAQ:PROG)

Number of Hedge Fund Holders: 6  

Share Price as of September 30: $1.08

Progenity, Inc. (NASDAQ:PROG) is a California-based biotechnology company that makes and sells molecular testing products. It is ranked third on our list of 10 Reddit’s WallStreetBets stocks under $5.

On July 29, investment advisory Piper Sandler maintained an Overweight rating on Progenity, Inc. (NASDAQ:PROG) stock and raised the price target to $5 from $3. Steven Mah, an analyst at the advisory, issued the ratings update. 

At the end of the second quarter of 2021, 6 hedge funds in the database of Insider Monkey held stakes worth $34 million in Progenity, Inc. (NASDAQ:PROG), down from 9 in the previous quarter worth $17 million.

Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Armistice Capital is a leading shareholder in Progenity, Inc. (NASDAQ:PROG) with 7.5 million shares worth more than $27 million.