Whether you’re looking for penny stocks to buy or simply putting a watch list together, you have to start somewhere. Some traders will base their penny stocks list on price only and filter down from there. Others will look for high volume stocks under $5. The idea of “high volume is simply based on an irregularity compared to previous weeks of action. Still, these are just a few simple approaches traders take to find interesting stocks.
Of course, there’s much more to it if you’re looking beyond a single day of trading. Many new traders are taking a liking to these highly volatile, cheap stocks. While these 1 or 2-day breakouts are exciting and certainly profitable to some, others are left holding the bag. The main issue here is handling risk/reward properly.
The ability to take profit along the way is key. Another way to secure profits is to find penny stocks that have a stronger, multi-day trend. There aren’t any guarantees in the stock market. But there’s a good chance that if certain penny stocks have upheld a strong, consistent trend for weeks, that might continue.
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Herein lies the double-edged sword. Are you looking to scalp (quick trade lasting a few minutes), day trade (trade lasting for a day), swing trade (trade lasting for a few days/ weeks), or invest? As a trader, you don’t need to stick to just one strategy. But you should be familiar with the different approaches so you know what plan of action to take in multiple circumstances. With this in mind, here’s a quick list of penny stocks to watch right now. What would be your approach to them?Penny Stocks To Watch: GT Biopharma Inc.
GT Biopharma Inc. (GTBP Stock Report) has picked up steam over the last week or so. Attention to immune treatments and cancer stocks has definitely picked up recently. Sure, coronavirus vaccine stocks are still attracting attention. However, those traders who sought out biotech stocks for COVID plays are now finding that many have other pipeline treatments with true potential.
In the case of GTBP stock, shares have climbed from $0.1575 last Wednesday to a high of $0.22 this week. The jump didn’t come out of thin air either. GT Biopharma has been developing a novel immune treatment pipeline based on its discovery of tri-specific natural killer engagers (TriKE™). It’s a combination protein that bridges an immune cell and a tumor cell to drive tumor cell killing power exponentially. It has led to new first-in-human phase studies to treat leukemia. What may have gotten traders’ interests piqued is what the company announced last week.
The company completed the treatment of the first patient enrolled at Dose Level 3 in its GTB-3550 TriKE™ Phase I/II clinical trial for acute myeloid leukemia (AML). The patient showed a decrease in AML blast levels from 18% to 12% in the bone marrow. The patient also experienced no adverse reactions including fever, tachycardia, or chills. GT also found an improvement in marrow cellularity and improving platelet and red blood cells numbers. If there’s one thing about biotech penny stocks is that early phase data tends to be a sticking point for the market. So far it seems as though that “sticking point” has been well-received.Penny Stocks To Watch: Fortress Biotech Inc.
Fortress Biotech Inc. (FBIO Stock Report) is one of the penny stocks with a clear trend on its chart. Between March and September, FBIO stock went from its 52-week low to a new 52-week high. The move also equated to a move in price of nearly 360%. Early last week, FBIO stock consolidated a bit. However, after a 3-day dip, the penny stock was back on the move once again.
Also, last week, one of its companies, Mustang Bio (MBIO Stock Report) made a key update. Mustang announced that the FDA granted it Orphan Drug Designation to its MB-207. This is the company’s gene therapy for patients with X-linked severe combined immunodeficiency.
That update might not be the thing investors are focusing on right now, however. As we approach October, we’ve got to see if the company has anything coming up. In fact, another one of Fortress’ companies, Avenue Therapeutics, Inc. (ATXI Stock Report) is expecting an FDA event.
Specifically, Avenue’s IV tramadol for pain in adults in a medically supervised health care setting has a Prescription Drug User Fee Act (“PDUFA”) goal action date of October 10, 2020. In light of this pending update, will FBIO stock join your list of penny stocks to watch heading into the new month?Penny Stocks To Watch: Aditx Therapeutics
Aditx Therapeutics (ADTX Stock Report) has been working to find some footing recently. Shares reached a high of $9.58 earlier in August but since then haven’t been able to find support. Last week, ADTX stock reached a new 52-week low of $1.62. This massive drop in shares was initially triggered after the company filed a registration statement to raise money. Earlier in September, the company reported an upsized $9.6 million offering.
In any case, ADTX stock has been in recovery-mode over the last 4 days. Wednesday, the penny stock extended its mini-rally to 25%. Something to note is the company’s collaboration agreement with Salveo Diagnostics, Inc. Salveo is a CLIA and CAP Accredited laboratory company focused on end-to-end personalized medicine solutions. Through this collaboration, Aditx looks to accelerate the launch of its AditxtScore™ platform. Aditxt will utilize Salveo’s facilities as a launching pad for commercializing AditxtScore™ starting in Q4, 2020.
Aditxt previously submitted an Emergency Use Authorization application with the FDA for AditxtScore™ for COVID-19. So as the 4th quarter is beginning tomorrow, has this recent momentum begun building in light of potential speculation on this “launch pad”?Penny Stocks To Watch: Bionano Genomics Inc.
Bionano Genomics (BNGO Stock Report) has been one of the biotech penny stocks we’ve followed for months. What started as one of the penny stocks to watch in April, has become much more. Since then, BNGO stock managed to climb to highs of $1.18, testing its 200 day moving average, in July, for the first time in years. Unfortunately it couldn’t sustain those levels and with the filing of a mixed, $125 million shelf offering, BNGO stock consolidated in August.
Fastforward to this week and we’re seeing BNGO back on the move. It’s also once again testing its 200-day moving average. Yesterday we discussed this among a list of penny stocks to watch after the company’s latest update. After the market closed on Tuesday, Bionano announced that its Saphyr system was adopted through reagent-rental agreements by two institutions in Australia and Slovenia. These included the Royal North Shore Hospital in Northern Sydney, New South Wales, Australia; and the University Medical Center Ljubljana in Ljubljana, Slovenia.
The two medical centers look to evaluate the systems for diagnosing leukemias in comparison to current methods. Erik Holmlin, Ph.D., chief executive officer of Bionano Genomics, said, “In particular, the Royal North Shore Hospital is part of the national health system in Australia’s most populous state and, therefore, we believe their adoption of Saphyr is a key step to entering the Australian market.”