5 Penny Stocks to Buy in April

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In this article, we discuss 5 penny stocks to buy in April. If you want to see some more penny stocks from our list, click 10 Penny Stocks to Buy in April

5. AIkido Pharma Inc. (NASDAQ:AIKI)

Number of Hedge Fund Holders: 3

Share Price as of April 6: $0.4221

AIkido Pharma Inc. (NASDAQ:AIKI) is a New York-based biotechnology company that develops small-molecule anti-cancer therapeutics, focusing mainly on pancreatic cancer, acute myeloid leukemia, and acute lymphoblastic leukemia. The penny stock has gained over 9% in the last month, making it a good candidate to buy in April. 

On February 25, AIkido Pharma Inc. (NASDAQ:AIKI) entered into a securities purchase agreement with a few institutional investors. The company raised about $21 million by selling Series O and P preferred stock, which can be converted to common shares at an initial conversion price of $1 per share.

AIkido Pharma Inc. (NASDAQ:AIKI) announced on March 11 a collaboration with Cedars-Sinai Medical Center to co-finance and develop a novel immuno-oncology treatment that promotes the destruction of cancer cells by a patient’s own “killer” T-cells. AIkido Pharma Inc. (NASDAQ:AIKI) will share costs and expenses with Cedars-Sinai and both parties will also share in the proceeds from the commercialization of this treatment. 

Among the hedge funds tracked by Insider Monkey, 3 funds were bullish on AIkido Pharma Inc. (NASDAQ:AIKI) at the end of the fourth quarter of 2021, compared to 1 fund in the prior quarter. The total stakes held in Q4 amounted to $329,000. 

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