5 Biotech Penny Stocks Redditors Love

2. Asensus Surgical, Inc. (NYSE:ASXC)

Number of Hedge Fund Holders: 6  

Asensus Surgical, Inc. (NYSE:ASXC) is a North Carolina-based medical device company. In 2022, the firm expects to achieve the full scale commercialization of articulating instruments globally, file for regulatory clearance of Senhance – a treatment for pediatric indication, as well as make progress on expanded machine vision capabilities for the Intelligent Surgical Unit. These pipeline projects will serve as growth catalysts for the stock that is trading at a much attractive valuation following a broad lull around the growth sector. 

Asensus Surgical, Inc. (NYSE:ASXC) recently posted earnings for the first quarter of 2022, beating market estimates on earnings per share by $0.01 and reporting a revenue of more than $1 million during the period. 

At the end of the fourth quarter of 2021, 6 hedge funds in the database of Insider Monkey held stakes worth $4.5 million in Asensus Surgical, Inc. (NYSE:ASXC), compared to 3 in the preceding quarter worth $1.1 million.