5 Biotech Penny Stocks to Buy Now

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In this article, we discuss the 5 biotech penny stocks to buy now. If you want to read our detailed analysis of these stocks, go directly to the 10 Biotech Penny Stocks to Buy Now.

5. Kaleido Biosciences, Inc. (NASDAQ:KLDO)

Number of Hedge Fund Holders: 4     

Kaleido Biosciences, Inc. (NASDAQ:KLDO) is a clinical-stage healthcare firm that develops microbiome metabolic therapies. The company recently announced that it had signed a strategic collaboration with the COPD Foundation to study KB109, a drug under development for treatment of patients with chronic obstructive pulmonary disease. The Phase 2 trial of the drug will begin early next year.

On November 12, investment advisory Chardan kept a Buy rating on Kaleido Biosciences, Inc. (NASDAQ:KLDO) stock with a price target of $11. Keay Nakae, an analyst at the advisory, issued the ratings update. 

Among the hedge funds being tracked by Insider Monkey, California-based investment firm Palo Alto Investors is a leading shareholder in Kaleido Biosciences, Inc. (NASDAQ:KLDO) with 786,400 shares worth more than $4.2 million.  

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