5 Best Biotech Penny Stocks to Buy Now

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In this article, we will take a look at the 5 best biotech penny stocks to buy now. To see more such companies, go directly to 11 Best Biotech Penny Stocks to Buy Now.

5. Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

Number of Hedge Fund Holders: 24

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) ranks 5th in our list of the best biotech penny stocks to buy now according to hedge funds. Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) is up about 40% year to date through July 31. Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) recently announced that the Defense Advanced Research Projects Agency (DARPA), which is operating under the U.S. Department of Defense, awarded it a four-year contract worth up to $18 million. In May Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) posted Q1 results. GAAP EPS in the period came in at -$0.11, missing estimates by $0.02. Revenue in the quarter fell 52.1% year over year to $80.7 million, surpassing estimates by $8.96 million.

Out of the 943 hedge funds tracked by Insider Monkey, 24 hedge funds reported owning stakes in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA).

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