5 Best Biotech Penny Stocks to Buy Now

4. Pieris Pharmaceuticals, Inc. (NASDAQ: PIRS)

Number of Hedge Fund Holders: 14  

Pieris Pharmaceuticals, Inc. (NASDAQ: PIRS) is a Boston-based biotechnology company founded in 2000. It is placed fourth on our list of 10 best biotech penny stocks to buy now. The stock has returned more than 86% to investors over the course of the past twelve months. The firm mainly concentrates on the development and marketing of protein-based drugs. The firm has research agreements with many other biotechnology companies as well as academic institutions. It has a market cap of over $220 million and posted close to $30 million in revenue last year. 

On May 25, Pieris Pharmaceuticals, Inc. (NASDAQ: PIRS) stock jumped more than 25% after the firm announced that it was entering into a research and collaboration agreement with Genentech, a California-based biotech company working on drugs for life-threatening diseases. 

In quarterly earnings results, posted on May 17, Pieris Pharmaceuticals, Inc. (NASDAQ: PIRS) reported earnings per share of -$0.07 for the first three months of 2021, beating market predictions by $0.10. The revenue over the period was close to $16 million, up close to 18% year-on-year.

At the end of the first quarter of 2021, 14 hedge funds in the database of Insider Monkey held stakes worth $36.8 million in Pieris Pharmaceuticals, Inc. (NASDAQ: PIRS), the same as in the preceding quarter worth $37.7 million.