5 Best Penny Stocks Popular on Reddit

2. Outlook Therapeutics, Inc. (NASDAQ: OTLK)

Number of Hedge Fund Holders: 11 

Price as of August 3, 2021: $2.26 per share  

Outlook Therapeutics, Inc. (NASDAQ: OTLK) is placed second on our list of 10 best penny stocks popular on Reddit. The firm is a clinical-stage biopharma firm that concentrates on the development of monoclonal antibodies for various ophthalmic indications. It was founded in 2010 and has a market cap of close to $400 million. The company recently joined the Russell 2000 Index. Lawrence Kenyon, the CEO of the firm, said at the time that the inclusion would help the firm drive market value with increased exposure. 

In earnings results for the second fiscal quarter, posted on May 14, Outlook Therapeutics, Inc. (NASDAQ: OTLK) reported earnings per share of -$0.09, just missing estimates by $0.01. The cash and cash equivalents over the period were over $37 million. 

At the end of the first quarter of 2021, 11 hedge funds in the database of Insider Monkey held stakes worth $5.2 million in Outlook Therapeutics, Inc. (NASDAQ: OTLK), up from 9 the preceding quarter worth $835,000.