Are These 3 Under $4 Penny Stocks Worth Watching Today?
With another day of trading penny stocks and blue chips off to an interesting start, there is a lot for investors to consider right now. While the market began strong for penny stocks, we quickly witnessed a turnaround by midday. Now, it’s tough to say what is the main cause of movement right now besides fear.
But, there are a few factors that continue to contribute. Right now, there is major pressure for the stock market to gain following January’s poor performance. And, with earnings from some major companies showing better-than-expected results, it makes sense that we would begin to see some bullish sentiment.
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Now, it is clear that this is not the case and that fear surrounding the future continues to drive price movement. This includes issues such as the pandemic, geopolitical tensions, inflation, employment, and more. So, all of these things are worth considering and should be taken into account. While trading penny stocks in 2022 is not easy, there is plenty of money to be made. With that in mind, let’s take a look at three penny stocks under $4 to watch right now.
3 Under $4 Penny Stocks to Watch Right Now
- Epizyme Inc. (NASDAQ: EPZM)
- Inspira Technologies Oxy BHN Ltd. (NASDAQ: IINN)
- Senseonics Holdings Inc. (NYSE: SENS)
Epizyme Inc. (NASDAQ: EPZM)
One of the bigger gainers of the day so far is EPZM stock. By midday, shares of EPZM stock had jumped by her 15% to north of $1.40 per share. While no news has come out today to say why shares of EPZM are pushing up, we can look at some recent announcements to deduce a reason. Just a few days ago, we saw shares of EPZM stock drop by over 40%. This occurred as the company announced a secondary stock issue which would likely result in major dilution.
Specifically, the company stated that it would be floating a secondary issue of over 56 million shares of common stock at $1.50 per share. This would bring in roughly $85 million to the company. It states that these funds will go toward the clinical study of the compounds currently in its pipeline. That includes studies for tazemetostat for a variety of conditions.
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Additionally, it will use these funds to move forward with making Tazverik commercially available. While this was initially received very poorly by investors, now, it appears as though shares of EPZM stock are rising. Whether this can continue remains to be seen. But, with this bullish move today in mind, will EPZM be on your penny stocks watchlist?
Inspira Technologies Oxy BHN Ltd. (NASDAQ: IINN)
In the past five days, shares of IINN stock climbed by over 37% to more than $3.08 as of today. While shares were up during morning trading on February 2nd, they quickly took a dive alongside the rest of the market. The big news for IINN stock comes as it announced the signing of a strategic agreement in the U.S. for Inspira. It states that this agreement for distribution with Glo-Med Networks in six states, could be worth roughly $212 million.
“It is an important milestone in the Company’s strategy to set up the infrastructure to penetrate the U.S. market.
It’s an honor for us to work with Glo-Med Networks, and we are looking forward to a fruitful collaboration that may benefit the patient population to improve patient’s outcome.
Upon approval of our ART by relevant regulatory authorities, the U.S. market size can provide Inspira Technologies a potential for the deployment of the ART.”
The Co-Founder and CFO of Inspira Technologies, Joe Hayon
This is great news for the company and should help it to further commercialize this product. In the agreement, Inspira will provide 2,121 ART systems as well as over 131,000 disposable units for use in medical centers across six states. Considering this, do you think IINN stock is worth adding to your list of penny stocks to buy?
Senseonics Holdings Inc. (NYSE: SENS)
Senseonics Holdings is a penny stock that we have discussed numerous times in the past year or so. And with a 2.5% gain at midday today, shares of SENS stock are up by over 19% in the past five. The most recent news from SENS came on January 5th, when it announced an FDA review of its PMA supplement for its Eversense 180-day CGM system.
The company stated that all questions have been answered and it should have a decision within the next few weeks from the FDA. If all goes according to plan, it could begin to sell this product by the second quarter of this year. And, the company stated that the financial outlook for full year 2021 should remain at between $12 and $15 million.
“We understand that the FDA is at full capacity managing the backlog of COVID-19 related filings creating longer than expected review timelines. We are confident a decision regarding approval of the 180-day system will be made in the coming weeks as the FDA continues to clear out the backlog.”
The CEO of Senseonics, Tim Goodnow
While the past years performance for SENS stock is nothing to write home about, the company has been making some positive strides recently. Whether this makes it worth adding to your penny stocks buy list or not is up to you.
Which Penny Stocks Are You Watching Right Now?
If you’re making a list of the best penny stock to buy, there are hundreds of options to choose from. While it can be a daunting task given the sheer number of choices, with research on hand, it can be much easier than previously imagined.
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Considering that there are also a variety of factors impacting the stock market, investors need to understand exactly what is going on and how to take advantage. Now, traders also need to understand that volatility is extremely high, and will likely continue to be this way for the next few months. With all of that in mind, which penny stocks are you watching right now?
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