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 our detailed analysis of these stocks, go directly to the 10 Best Biotech Penny Stocks to Buy Now.

5. Cyclerion Therapeutics, Inc. (NASDAQ: CYCN)

Number of Hedge Fund Holders: 9    

Cyclerion Therapeutics, Inc. (NASDAQ: CYCN) is a Boston-based biopharma firm founded in 2018. It is placed fifth on our list of 10 best biotech penny stocks to buy now. The company;s shares have returned more than 54% to investors year-to-date. The firm works on the development and marketing of drugs for the treatment of serious central nervous system diseases. Some of the drugs it is working on include CY6463 and Olinciguat, the former a treatment of mitochondrial encephalomyopathy and the latter for sickle cell disease. 

On June 8, Cyclerion Therapeutics, Inc. (NASDAQ: CYCN) shares surged more than 14% as the firm revealed insider purchases totaling close to $7.4 million in the second quarter of 2021, the highest in close to a year. 

On June 4, Cyclerion Therapeutics, Inc. (NASDAQ: CYCN) announced that it had signed a deal with Akebia Therapeutics for development of an oral sGC stimulator named praliciguat. 

Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Slate Path Capital is a leading shareholder in Cyclerion Therapeutics, Inc. (NASDAQ: CYCN) with 6.1 million shares worth more than $17.2 million. 

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