12 Best NASDAQ Penny Stocks to Buy According to Hedge Funds

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7. AbCellera Biologics Inc. (NASDAQ:ABCL)

Price as of September 12: $4.47

Number of Hedge Fund Holders: 17

AbCellera Biologics Inc. (NASDAQ:ABCL) is one of the best NASDAQ penny stocks to buy according to hedge funds. On September 11, TD Cowen reiterated its Buy rating on AbCellera Biologics Inc. (NASDAQ:ABCL), without giving a price target.

TD Cowen analyst Brendan Smith sees the company’s focus on expanding its internal pipeline and strengthening its partnerships through the Biosecure program as catalysts for AbCellera. On August 27, AbCellera reported that it dosed the first participants in its Phase 1 clinical trial of ABCL575, a next-generation antibody treatment for moderate-to-severeatopic dermatitis (AD). The therapy will potentially help in the treatment of other inflammatory and autoimmune conditions. The company expects the data from this study in mid-2026.

Smith believes that the company’s liquidity position is good, as AbCellera is well-equipped in terms of financial resources and operational capacity. This positions the company to invest in strategic initiatives such as ABCL575 and navigate market conditions.

AbCellera Biologics Inc. (NASDAQ:ABCL) focuses on discovering and developing antibody-based treatments for indications with unmet medical needs in the U.S.

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