With the month halfway over, penny stocks have taken center stage in the market. A number of uncertainties have seen investors stray away from the traditional blue chip stocks like Netflix (NFLX) and Johnson & Johnson (JNJ). They’re opting for more exciting names that offer added volatility.
So far this month, small cap stocks and micro cap stocks are on the list of stocks to buy. We’ve seen several that continue to pop up on the list, which begs the question, “Are these the best penny stocks to buy in April?”
Penny Stock To Watch In April #1: Vital Therapies (VTL)
So far, Vital Therapies (VTL Chart) has been one of the main penny stocks to watch this week. PennyStocks.com began seeing this company pop up earlier in the month. The main catalyst seems to be the recent merger news with Immunic.Vital Therapies’ shareholders were so in favor of this deal that the company filed its quarterly report ahead of time in anticipation of this deal. The company’s New Stock Symbol will be “IMUX”.
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Penny Stock To Watch #2: Histogenics Corporation (HSGX)
Histogenics Corporation (HSGX Chart) came to our attention earlier this week after strong volume and trading momentum boosted this penny stock to highs of $0.29.
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Histogenics announced entry into a definitive agreement to merge with Ocugen Inc. The deal calls for Ocugen shareholders to be the new majority owners of Histogenics outstanding stock. On April 12, premarket trading saw this penny stock jump to more than $0.20. This will be one of the top penny stocks to watch on Friday.
Penny Stock To Watch #3: J.C. Penny Company (JCP)
J.C. Penny (JCP Chart) stock joined the ranks of “penny stock” elite last year after a series of bad press and earnings dropped the stock price. On April 11, the company announced that it awarded over 1 million shares to its CFO, Bill Wafford. This was basically in return for his new employment status with the company. This news seems to have been positive enough to warrant a premarket move for JCP stock. As the story develops, we’ll continue to bring updates.
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Penny Stock To Watch #4: Kitov Pharma Ltd (KTOV)
No list of penny stocks would be complete without a biotech stock breaking out after news. Kitov (KTOV Chart) is the focus today. The company announced that it signed a collaboration deal with Bristol Myers Squibb (BMY)…kind of a big deal?
Well, the specifics of the deal show that BMY will evaluate the combo of CM-24 with BMY’s Opdivo®. The importance here is that even though CM-24 is an antibody developed by a company named FameWave, KTOV is acquiring FameWave. So, this deal between FameWave and Kitov could be well-timed.
The two biotech companies will coordinate on the design for a Phase ½ clinical trial for patients with non-small cell lung cancer. CM -24 targets immune checkpoint carcinoembryonic antigen-related cell adhesion molecule 1. Not sure what that means? Carcinoembryonic antigen-related cell adhesion molecule 1 or CEACAM1 is a protein-coding gene that is usually associated with certain cancers. Check out GeneCards . org for additional info.
