5 Biotech Penny Stocks Redditors Love

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In this article, we discuss 5 biotech penny stocks that Redditors love. If you want to read about some more biotech stocks popular on Reddit, go directly to 10 Biotech Penny Stocks Redditors Love

5. ElectroCore, Inc. (NASDAQ:ECOR)

Number of Hedge Fund Holders: 4    

ElectroCore, Inc. (NASDAQ:ECOR) is a medical device firm that focuses on the development of non-invasive vagus nerve stimulation therapies. On April 5, the company announced that it had entered into an agreement with Teijin Limited, a conglomerate based in Japan, to license exclusive rights to a non-invasive vagus nerve stimulation technology for commercialization in the country. The tech is used to treat a range of primary headache disorders. The firm will receive a non-refundable, upfront payment for the tech. 

ElectroCore, Inc. (NASDAQ:ECOR) posted earnings for the first quarter of 2022 on May 5, reporting a revenue of close to $2 million, up over 58% compared to the revenue over the same period last year and beating estimates by $0.16 million. 

At the end of the fourth quarter of 2021, 4 hedge funds in the database of Insider Monkey held stakes worth $852,000 in ElectroCore, Inc. (NASDAQ:ECOR), compared to 5 in the previous quarter worth $2.3 million.

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