5 Best Biotech Penny Stocks to Invest In

2. Leap Therapeutics, Inc. (NASDAQ:LPTX)

Number of Hedge Fund Holders: 10     

Leap Therapeutics, Inc. (NASDAQ:LPTX) is a biopharma firm focusing on the development of treatments for cancer. In late November, investment advisory Mizuho maintained a Buy rating on Leap Therapeutics, Inc. (NASDAQ:LPTX) stock and lowered the price target to $12 from $20. 

At the end of the fourth quarter of 2023, 10 hedge funds in the database of Insider Monkey held stakes worth $21 million in Leap Therapeutics, Inc. (NASDAQ:LPTX), the same as in the preceding quarter worth $7.8 million.

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Baker Bros. Advisors is a leading shareholder in Leap Therapeutics, Inc. (NASDAQ:LPTX) with 1.1 million shares worth more than $4.8 million.