In this article, we discuss the 5 penny stocks with upcoming growth catalysts. If you want to read our detailed analysis of these stocks, go directly to the 10 Penny Stocks with Upcoming Growth Catalysts.
5. Adhera Therapeutics, Inc. (OTC: ATRX)
Number of Hedge Fund Holders: N/A
Adhera Therapeutics, Inc. (OTC: ATRX) is ranked fifth on our list of 10 penny stocks with upcoming growth catalysts. The company operates from Louisiana and engages in the marketing of biopharmaceutical products.
Adhera Therapeutics, Inc. (OTC: ATRX) recently announced that it had signed an exclusive license agreement with Melior Pharmaceuticals, a Pennsylvania-based drug firm, for MLR-1023. The agreement will allow the firm to develop a novel therapeutic for Type 1 diabetes.
Earlier this month, Adhera Therapeutics, Inc. (OTC: ATRX) announced the appointment of Andrew Reaume to the Board of Directors at the firm. Reaume, a former top executive at drug giant Pfizer and Cephalon, brings a wealth of experience to the company.
4. Creatd, Inc. (NASDAQ: CRTD)
Number of Hedge Fund Holders: 1
Creatd, Inc. (NASDAQ: CRTD) is a New Jersey-based technology company focusing on the development of digital communities. It is placed fourth on our list of 10 penny stocks with upcoming growth catalysts.
Creatd, Inc. (NASDAQ: CRTD) has several growth catalysts that are expected to drive the share price in the coming months. The company has an expanding user base, growing revenue, it recently paid back a lot of debt, and was also able to raise capital.
At the end of the second quarter of 2021, 1 hedge fund in the database of Insider Monkey held stakes worth $62,000 in Creatd, Inc. (NASDAQ: CRTD), down from 2 in the previous quarter worth $172,000.
Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Two Sigma Advisors is a leading shareholder in Creatd, Inc. (NASDAQ: CRTD) with 16,600 shares worth more than $62,000.
3. AzurRx BioPharma, Inc. (NASDAQ: AZRX)
Number of Hedge Fund Holders: 4
AzurRx BioPharma, Inc. (NASDAQ: AZRX) is a Florida-based biopharmaceutical company that concentrates on the development of recombinant proteins for the treatment of gastrointestinal diseases. It is ranked third on our list of 10 penny stocks with upcoming growth catalysts.
Earlier this week, AzurRx BioPharma, Inc. (NASDAQ: AZRX) announced that it had agreed to purchase First Wave Bio, a Michigan-based biopharma firm, in a deal worth $229 million. The company will rebrand as First Wave BioPharma and debut on the market in late September.
At the end of the second quarter of 2021, 4 hedge funds in the database of Insider Monkey held stakes worth $359,000 in AzurRx BioPharma, Inc. (NASDAQ: AZRX), up from 2 in the preceding quarter worth $143,000.
2. TRACON Pharmaceuticals, Inc. (NASDAQ: TCON)
Number of Hedge Fund Holders: 6
TRACON Pharmaceuticals, Inc. (NASDAQ: TCON) is placed second on our list of 10 penny stocks with upcoming growth catalysts. The firm develops and sells biopharmaceutical products and is headquartered in California.
TRACON Pharmaceuticals, Inc. (NASDAQ: TCON) is slated to present a corporate review at the HC Wainwright 23rd Annual Global Investment Conference, boosting the profile of the firm to investors from around the world by offering a detailed look at the drugs pipeline.
Out of the hedge funds being tracked by Insider Monkey, Texas-based investment firm Ikarian Capital is a leading shareholder in TRACON Pharmaceuticals, Inc. (NASDAQ: TCON) with 2.7 million shares worth more than $17 million.
At the end of the second quarter of 2021, 6 hedge funds in the database of Insider Monkey held stakes worth $37 million in TRACON Pharmaceuticals, Inc. (NASDAQ: TCON), the same as in the preceding quarter worth $48 million.
1. Outlook Therapeutics, Inc. (NASDAQ: OTLK)
Number of Hedge Fund Holders: 7
Outlook Therapeutics, Inc. (NASDAQ: OTLK) is ranked first on our list of 10 penny stocks with upcoming growth catalysts. The firm concentrates on the development of monoclonal antibodies for various ophthalmic indications. It is headquartered in New Jersey.
Outlook Therapeutics, Inc. (NASDAQ: OTLK) recently announced results from ONS-5010, a treatment for neovascular age-related macular degeneration, saying it had met the main and secondary goals in a late-stage study.
At the end of the second quarter of 2021, 7 hedge funds in the database of Insider Monkey held stakes worth $2.3 million in Outlook Therapeutics, Inc. (NASDAQ: OTLK).
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