5 Penny Stocks for Long-Term Profits

4. GreenLight Biosciences Holdings (NASDAQ:GRNA)

Number of Hedge Fund Holders: 15

Share Price (as of August 5): $4.16

GreenLight Biosciences Holdings (NASDAQ:GRNA) specializes in RNA (ribonucleic acid) technology, making mRNA vaccines and therapies for humans, as well as agricultural RNA products to protect crops. Its RNA manufacturing platform uses a cell-free mechanism which enables the scalable and cost-effective production of RNA products.

A total of 15 hedge funds were bullish on GreenLight Biosciences Holdings (NASDAQ:GRNA) at the end of Q1 2022, with overall stakes worth more than $134 million. Cormorant Asset Management held a $62 million stake in GRNA at the end of March, establishing it as the firm’s largest shareholder.

GreenLight Biosciences Holdings (NASDAQ:GRNA) and Samsung Biologics, recently completed their first commercial-scale engineering run under their mRNA production partnership. GRNA is developing a Covid booster vaccine, for which the trial is expected to start this year. Under the agreement, Samsung is helping GreenLight Biosciences Holdings (NASDAQ:GRNA) establish commercial-scale manufacturing capabilities.