5 Penny Stocks With Long-Term Growth Catalysts

3. Arbutus Biopharma Corporation (NASDAQ:ABUS)

Number of Hedge Fund Holders: 5 

Arbutus Biopharma Corporation (NASDAQ:ABUS) is a Pennsylvania-based biopharmaceutical firm that develops drugs for patients suffering from chronic diseases. It is ranked third on our list of 10 penny stocks with long-term growth catalysts.

Arbutus Biopharma Corporation (NASDAQ:ABUS) stock has been soaring since reports that the company won a patent case related to the COVID-19 vaccine against Moderna. The firm will be eligible for royalties from the sale of the Moderna vaccines as a result and receive a new patent. 

At the end of the second quarter of 2021, 5 hedge funds in the database of Insider Monkey held stakes worth $9 million in Arbutus Biopharma Corporation (NASDAQ:ABUS), down from 15 in the preceding quarter worth $20 million. 

Out of the hedge funds being tracked by Insider Monkey, New York-based firm Hudson Bay Capital Management is a leading shareholder in Arbutus Biopharma Corporation (NASDAQ:ABUS) with 1.8 million shares worth more than $5.4 million.