5 Best Penny Stocks to Buy in September

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In this article, we discuss 5 best penny stocks to buy in September. If you want to see more stocks in this selection, check out 10 Best Penny Stocks to Buy in September

5. Fortress Biotech, Inc. (NASDAQ:FBIO)

Number of Hedge Fund Holders: 11

Share Price as of September 7: $1.10

Fortress Biotech, Inc. (NASDAQ:FBIO) is a New York-based company that develops and commercializes pharmaceutical and biotechnology products. On August 11, Fortress Biotech, Inc. (NASDAQ:FBIO) announced that its cytomegalovirus (CMV) vaccine Triplex received a $20 million grant from the National Institute of Allergy and Infectious Diseases for control of CMV in patients facing liver transplantation.

On August 4, Ladenburg analyst Jeffrey Cohen assumed coverage of Fortress Biotech, Inc. (NASDAQ:FBIO) with a Buy rating and a $6 price target, categorizing the company as an “innovative biotechnology development engine” that delivers cutting-edge assets. There are presently 12 entities building a pipeline of assets, 4 of which are publicly traded, and the analyst believes Fortress Biotech, Inc. (NASDAQ:FBIO)’s business model provides higher diversification and lower risk when compared to alternative biotechnology candidates.

Among the hedge funds tracked by Insider Monkey, 11 funds reported owning stakes in Fortress Biotech, Inc. (NASDAQ:FBIO) at the end of June 2022, compared to 10 funds in the prior quarter. Nantahala Capital Management is the biggest stakeholder of the company, with 8.75 million shares worth $7.35 million. 

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