5 Best Debt Free Penny Stocks to Invest In

In this article, we will be taking a look at the 5 best debt free penny stocks to invest in. To read our analysis of the recent technology trends, and market activity, you can go to the 10 Best Debt Free Penny Stocks to Invest In.

5. Arbutus Biopharma Corporation (NASDAQ:ABUS)

Number of Hedge Fund Holders: 14

Warminster, Pennsylvania-based Arbutus Biopharma Corporation (NASDAQ:ABUS) is a clinical-stage biopharmaceutical company focused on developing novel therapeutics that target specific viral diseases, including chronic hepatitis B virus and coronaviruses (including COVID-19).

On March 2, Arbutus Biopharma Corporation (NASDAQ:ABUS) reported the financial results for Q4 2022. The company had a strong financial position at the end of the year with cash, cash equivalents and investments in marketable securities of $184.3 million. During the year, the company received $40 million from Qilu Pharmaceutical Co., Ltd. as an upfront payment for a technology transfer for AB-729 in greater China. In addition, it received $15 million from Qilu in the form of an equity investment and raised another $20 million through an issuance of its common shares.

According to the Insider Monkey data on 943 leading hedge funds, 14 hedge funds were long Arbutus Biopharma Corporation (NASDAQ:ABUS) shares as of Q4 2022, with the total shares held by hedge funds valued at $58.7 million. Sina Toussi’s Two Seas Capital was the largest shareholder on record with ownership of 7.5 million shares valued at $17.5 million. The hedge fund increased its shareholding in the company by 114% during the second half of 2022.