5 Best High Volume Penny Stocks to Buy Now

4. HOOKIPA Pharma Inc. (NASDAQ:HOOK)

Number of Hedge Fund Holders: 9 

Share Price as of November 3: $1.27

Volume as of November 3: 386,377

HOOKIPA Pharma Inc. (NASDAQ:HOOK) is a clinical-stage biopharmaceutical company that develops immunotherapeutics targeting infectious diseases and cancers based on its proprietary arenavirus platform. It is one of the top penny stocks to invest in. On October 20, HOOKIPA Pharma stated that it has partnered up with Roche, a leading provider of cancer treatments globally, to develop HB-700 for Kras mutated cancers and a second undisclosed novel arenaviral immunotherapy. HOOKIPA will receive $25 million upfront in the partnership.

On August 23, Truist analyst Asthika Goonewardene maintained a Buy rating on HOOKIPA Pharma Inc. (NASDAQ:HOOK) stock and lowered the price target to $11 from $16. 

At the end of the second quarter of 2022, 9 hedge funds in the database of Insider Monkey held stakes worth $29.4 million in HOOKIPA Pharma Inc. (NASDAQ:HOOK), compared to 9 the preceding quarter worth $40.7 million.

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