The month of March is rolling to an end this week as far as traders are concerned. But there are still several penny stocks to watch. United States stock futures are edging higher on Tuesday morning despite treasuries falling. It seems like fears brought on by the change in direction of the yield curve are pausing for now. As one economist, Philip Wyatt of UBS Group AG, puts it, “It’s premature to talk about the yield curve meaning that we have to go into recession.”
Looking back on Monday’s session on March 26, there are a few penny stocks that have been gaining attention in the market. This is both from the prices of penny stocks and the volume increase that they’ve seen.
Penny Stock To Watch #1: Curis, Inc. (CRIS)
Curis (CRIS Chart) saw a gap up to highs of $3 on Monday morning. This was during premarket hours of trading just before the start of the new week. What drove the rally
The agreement would see Curis sell the rights to a portion of royalty revenues on the worldwide net sales of Erivedge. Curis received $65 million in upfront cash. Curis could also receive up to another $70+ million in milestone payments depending on future performance. By the end of the day, shares of this penny stock closed deep in the red compared to the opening levels.
Penny Stock To Watch #2: NantKwest, Inc. (NK)
Shares of the penny stocks NantKwest (NK Chart) saw its highest volume-trading day in 2019 on March 25. Why did NantKwest shares jump? The company’s Chairman and CEO, Dr. Patrick Soon-Shiong exercised $39 million in warrants and options to support the company’s vision. Specifically:
“Since the launch of NantKwest in 2015, the company has made remarkable progress in the development of a true, ‘off-the-shelf’ and ‘ready-to-use’ Natural Killer (NK) cell therapy that could be shipped on an ‘as needed basis,’ just about anywhere in the world. We have successfully established a truly off-the-shelf, cryopreserved product and are now ready to embark on pivotal trials. This advanced manufacturing capability combined with our ability to develop NK cells with high killing activity provides us with a distinct advantage as the leading company developing an immediately available NK cell therapy for patients with cancer.”Dr. Soon-Shiong, CEO
Penny Stock To Watch #3: Yangtze River Port and Logistics Limited (YRIV)
This last company on the list of penny stocks to watch is a bit different from the penny stocks above.