5 Best Penny Stocks to Invest $100

4. Compugen Ltd. (NASDAQ:CGEN)

Stock Price as of August 16: $1.34

Number of Hedge Fund Holders: 13

Compugen Ltd. (NASDAQ:CGEN) is an Israeli clinical-stage biotech company working on developing a widely applicable, predictive computational discovery platform to identify the efficacy of new drugs in cancer patients.

On August 8, Reni Benjamin at JMP Securities assigned Compugen Ltd. (NASDAQ:CGEN) a target price of $4 and maintained an Outperform rating on the stock. The company dissolved its partnership with Bristol-Myers Squibb Company (NYSE:BMY) to gain independence and flexibility in pursuing its own strategy for a certain class of assets. In January, Compugen Ltd. (NASDAQ:CGEN) also gained a US patent for its lead candidate, COM701. Analysts think that Compugen Ltd. (NASDAQ:CGEN) has a first mover advantage which will allow the company to retain its leadership position amongst its competitors.

Overall, 13 hedge funds held a stake in Compugen Ltd. (NASDAQ:CGEN) as of Q1 2022.