In this article, we will take a look at the 5 best penny stocks to buy under $1. To see more such companies, go directly to 12 Best Penny Stocks to Buy Under $1.
5. Cano Health, Inc. (NYSE:CANO)
Number of Hedge Fund Holders: 21
Cano Health, Inc. (NYSE:CANO) said in September that it sold substantially all the assets related to its senior-focused primary care centers in Texas and Nevada to CenterWell Senior Primary Care for about $66.7 million. In late September Cano Health, Inc. (NYSE:CANO) appointed Eladio Gil as its interim CFO.
A total of 21 hedge funds in Insider Monkey’s database had stakes in Cano Health, Inc. (NYSE:CANO) as of the end of the second quarter of 2023. The most significant stakeholder of Cano Health, Inc. (NYSE:CANO) was
4. Heron Therapeutics, Inc. (NASDAQ:HRTX)
Number of Hedge Fund Holders: 22
Insider Monkey’s proprietary database of 910 hedge funds shows that 22 funds had stakes in Heron Therapeutics, Inc. (NASDAQ:HRTX) The biggest stakeholder of Heron Therapeutics, Inc. (NASDAQ:HRTX) was David Rosen’s Rubric Capital Management which had a $14 million stake in the company.
3. FibroGen, Inc. (NASDAQ:FGEN)
Number of Hedge Fund Holders: 22
Yet another biopharma company in our list of the best penny stocks under $1, FibroGen, Inc. (NASDAQ:FGEN) is working on treatments for serious unmet medical needs, including idiopathic pulmonary fibrosis, pancreatic cancer, and Duchenne muscular dystrophy.
A total of 22 hedge funds in Insider Monkey’s database of hedge funds had stakes in FibroGen, Inc. (NASDAQ:FGEN). The biggest stake in FibroGen, Inc. (NASDAQ:FGEN) was owned by Steven Boyd’s Armistice Capital which owns a $12 million stake in the company.
2. Qurate Retail, Inc. (NASDAQ:QRTEA)
Number of Hedge Fund Holders: 25
Ecommerce and media company Qurate Retail, Inc. (NASDAQ:QRTEA) is one of the notable penny stocks owned by hedge funds. A total of 25 hedge funds tracked by Insider Monkey had stakes in Qurate Retail, Inc. (NASDAQ:QRTEA). The biggest stakeholder of Qurate Retail, Inc. (NASDAQ:QRTEA) was Bob Peck and Andy Raab’s FPR Partners which owns a $28 million stake in the company.
1. Esperion Therapeutics, Inc. (NASDAQ:ESPR)
Number of Hedge Fund Holders: 26
Esperion Therapeutics, Inc. (NASDAQ:ESPR) shares jumped in August after the company announced data from its CLEAR Outcomes program for the cholesterol-lowering agent bempedoic acid at a European medical event.
Insider Monkey’s database of hedge funds shows 26 hedge funds were long Esperion Therapeutics, Inc. (NASDAQ:ESPR). Steven Boyd’s Armistice Capital had a $13 million stake in Esperion Therapeutics, Inc. (NASDAQ:ESPR).
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