5 Best Penny Stocks to Buy Now

4. Clovis Oncology, Inc. (NASDAQ:CLVS)

Number of Hedge Fund Holders: 14

Clovis Oncology, Inc. (NASDAQ:CLVS) is a Boulder, Colorado-based commercial-stage biotech company founded in 2009. The company is working on developing and commercializing cancer treatments.

The Street is closely monitoring the progress of the ongoing FAP-2286, which is a leading drug candidate in Radionuclide therapy. Clovis Oncology, Inc. (NASDAQ:CLVS) also sees Rubraca as a lead candidate in the front-line maintenance treatment of ovarian cancer, and the required submissions will be made to the Food and Drug Administration (FDA) and European Medicines Agency (EMA) during Q3 2022. This development is expected to cause a jump in Clovis Oncology, Inc.’s (NASDAQ:CLVS) share price.

Overall, 14 funds held a stake in Clovis Oncology, Inc. (NASDAQ:CLVS) during Q2 2022.