5 Popular Penny Stocks on Robinhood

2. Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP)

Number of Hedge Fund Holders: 4      

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) is a biopharmaceutical company that focuses on developing, discovering, commercializing, and licensing therapeutics to treat and prevent human disease and alleviate suffering. On December 22, investment advisory Alliance Global Partners maintained a Buy rating on Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) stock and lowered the price target to $6 from $8. 

At the end of the third quarter of 2023, 4 hedge funds in the database of Insider Monkey held stakes worth $1.4 million in Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP), up from 1 in the preceding quarter worth $334.