5 Best Biotech Penny Stocks To Buy Now

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In this article, we discuss the 5 best biotech penny stocks to buy now. If you want to read about some more biotech penny stocks, click here to read 10 Best Biotech Penny Stocks To Buy Now.

5. NuCana plc (NASDAQ:NCNA)

Number of Hedge Fund Holders: 4

Share Price (as of June 17): $0.64

NuCana plc (NASDAQ:NCNA) is a British biotech firm which develops drug therapies to treat various forms of cancer. It uses its ProTide technology to convert some of the most commonly-used chemotherapy drugs into safer and more effective medicines. It has drug candidates in clinical phase 1 and 2 for colorectal cancer and solid tumors, among others.

Truist analyst Robyn Karnauskas on April 13 lowered the firm’s price target on NuCana plc (NASDAQ:NCNA) to $6 from $22 and maintained a ‘Buy’ rating on the company shares. The analyst adjusted her model to remove the firm’s Acelarin drug for biliary tract cancer, after the discontinuation of its phase 3 trial. She revised her peak adjusted revenue estimate to $160 million from $0.9 billion. Despite this setback, NuCana plc’s (NASDAQ:NCNA) ProTide platform and other drug candidates position it well heading into the future.

A detailed examination of the 900+ elite hedge funds in the Q1 database of Insider Monkey showed that 4 hedge funds were long NuCana plc (NASDAQ:NCNA), as compared to 6 hedge funds a quarter earlier. With an $878,000 position, Opaleye Management was the firm’s most prominent Q1 shareholder.


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