5 Biotech Penny Stocks Redditors Love

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1. Seelos Therapeutics, Inc. (NASDAQ:SEEL)

Number of Hedge Fund Holders: 10  

Seelos Therapeutics, Inc. (NASDAQ:SEEL) is a biopharma firm developing drugs for the treatment of central nervous system, respiratory, and other disorders. Late last year, the firm announced that it had obtained an exclusive worldwide license agreement for Wafermine, a drug developed by iX Biopharma. The company agreed to pay an upfront payment of $9 million for the purchase. Seelos will use the rights to test the drug as a treatment for indications such as chronic neuropathic pain. 

On March 14, B Riley analyst Mayank Mamtani maintained a Buy rating on Seelos Therapeutics, Inc. (NASDAQ:SEEL) but lowered the price target to $4 from $6, noting the “higher cost of capital to support the company’s relatively higher operating expenditure ramp”.

Among the hedge funds being tracked by Insider Monkey, California-based investment firm Woodline Partners is a leading shareholder in Seelos Therapeutics, Inc. (NASDAQ:SEEL), with 4 million shares worth more than $6.5 million. 

You can also take a peek at 10 Best Healthcare Dividend Stocks to Buy Now and 10 Dividend Stocks with Over 20 Years of Dividend Increases.

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