12 Best NASDAQ Penny Stocks to Buy According to Hedge Funds

8. Precigen, Inc. (NASDAQ:PGEN)

Price as of September 12: $3.79

Number of Hedge Fund Holders: 16

Precigen, Inc. (NASDAQ:PGEN) is one of the best NASDAQ penny stocks to buy according to hedge funds. On September 3, Precigen, Inc. (NASDAQ:PGEN) announced that it signed a credit facility agreement with total funds of up to $125 million.

Precigen entered into a credit facility agreement with investment funds managed by Pharmakon Advisors. The credit facility will allow Precigen to receive up to $125 million in two tranches, subject to the conditions of the agreement. According to the agreement, the first tranche of $100 million was funded at closing, while a second tranche of $25 million can be drawn at the company’s discretion through March 21, 2027.

“This fortifies our position for robust US commercialization of PAPZIMEOS, our groundbreaking novel immunotherapy, while also supporting efforts to expand to international markets and pursue pediatric and additional HPV-related indications,” said Helen Sabzevari, PhD, President and CEO of Precigen.

The $100 million funding supports the commercialization of PAPZIMEOS in the U.S., with the opportunity to expand into international markets. This also allows Precigen to pursue pediatric and other HPV-related indications. Sabzevari pointed out that PAPZIMEOS has the potential for revenue in the near future, and the company is well-positioned to deliver meaningful growth.

Precigen, Inc. (NASDAQ:PGEN) is a biopharmaceutical company that engages in the discovery and clinical-stage development of gene and cell therapies to target diseases in areas of immuno-oncology, autoimmune disorders, and infectious diseases.