These 5 Penny Stocks Are Presenting Key Data This Week; Are They A Good Buy Or a Goodbye For Investors?
No matter your feeling on penny stocks, one glaring fact remains. You can make quick money with these cheap stocks. The idea that someone can buy penny stocks in sizes of 100,000 shares or more for less than an iPhone is truly unique. What’s more is that if you properly research certain penny stocks on places like Robinhood or other penny stock trading platforms, you’ll arm yourself with better tools that “the other guys.”
What I mean by this is that most who approach penny stocks for the first time tend to treat them like a lottery ticket. But there’s a difference in risking money you can afford to lose on a high-risk investment and throwing money away blindly with the hope you make a big windfall. I’d like to think that the former is true for those who’ve traded penny stocks professionally. This is also a big reason why it’s so important to learn the basics of trading before you spend a dime buying penny stocks. But why do I point out Robinhood penny stocks in this article?
That’s a good question and a simple one for me to answer. When it comes to penny stocks on Robinhood, there are a lot of users who continuously search for an edge. Robinhood has a lot of metrics including one of my personal favorites that shows how many people on the platform hold certain stocks. Why is this important?
Let me ask you this: If there were 100 people holding Stock A and 10,000 holding Stock B, which one would you be more enticed to look at? Most would say Stock B. Though there’s no right or wrong answer, general psychology tends to support the “herd mentality” in the sense that where there’s a waiting line, more people will likely gravitate to it.
Penny Stocks To Trade On Robinhood
One of the more popular sectors that has traders on the edge of their seats has been biotech. And for those who understand speculation and trading momentum, these companies tend to have it all in that sense. It’s one of the few sectors that has companies previewing new events to the public on a monthly and even weekly basis. Case in point, there are hundreds of companies presenting new data on phase trials this week. Many of them are penny stocks as well.
When it comes to biotech penny stocks, there are plenty of instances of “buy the rumor” and “sell the news.” But then again, if the news is even more positive than initially thought, that can quickly spark a continued move. On the other hand, if the speculation has helped boost shares but the news isn’t as great as expected, the opposite can hold true.
This weekend we’ll see a number of biotech companies present data at the 61st Annual American Society of Hematology meeting. These results could set a tone for companies on this list. No matter the case, if high volatility and momentum is “your thing” then have a look at some of these biotech penny stocks on Robinhood that have upcoming data this week.
Robinhood Penny Stocks To Watch #5: Sunesis Pharmaceuticals, Inc. (SNSS)
This was one of the penny stocks written about last week (see: 4 Penny Stocks To Buy Or Sell Before The New Year? 1 Up 177% YTD). If you look at the whole year, Sunesis Pharmaceuticals (SNSS Stock Report) hasn’t had a banner year. During the first few quarters, shares of SNSS stock climbed from around $0.43 to as high as $1.77 before taking a tumble. In fact, last week, the penny stock hit new 52-week lows of $0.195. But I should point out that after hitting those lows, SNSS promptly bounced back over 100%.
The company reported Phase 1b/2 trial data of its vecabrutinib therapy. Initially, the company planned to give a full presentation this weekend at the American Society of Hematology (AHS) meeting. But apparently, due to an “unauthorized disclosure” on social media, the company disclosed the data in advance. “The data are encouraging, with vecabrutinib showing evidence of clinical activity in high-risk patients resistant to covalent BTK inhibitors, in both wild-type and C481-mutated BTK disease,” said Dayton Misfeldt, Interim Chief Executive Officer of Sunesis.
Needless to say, these data will be presented this weekend. Afterhours trading on Friday showed a very bullish sentiment as the biotech stock surged to highs of $0.445. During the open market session, the penny stock saw highs of $0.35 so this was a noticeable jump in price. Assuming the PR from last week and the presentation on Sunday night, Sunesis could find itself on some penny stocks watch lists heading into the new week.
Robinhood Penny Stocks To Watch #4: Actinium Pharmaceuticals Inc. (ATNM)
One of the biotech stocks in the news recently was Actinium Pharmaceuticals Inc. (ATNM Stock Report). Similar to SNSS, Actinium also presents at the ASH meeting this weekend. The company will offer up data on its Phase 1 trial for actimab-A combined with CLAG-M. The target patient set for the trial included those with relapsed or refractory acute myeloid leukemia.
Back in November, Actinium reported interim results from the trial that showed favorable results. There was an 83% remission rate with the combination in comparison to a 54% rate with CLAG-M alone. The data also support that the combination had a “clinically acceptable safety profile” in the target patient group.
In response to the data, Dr. Mark Berger, Actinium’s Chief Medical Officer, said, “It is quite encouraging to see a high overall response rate with the addition of Actimab-A compared to patients treated with CLAG-M alone. These preliminary results exceed our expectations and compare quite favorably to results seen with recently approved AML therapies, especially in these difficult to treat relapsed or refractory patients.”
As for ATNM stock, shares ripped lower last Thursday but recovered on Friday with a bullish close into the weekend. As the company sets up to report the data this weekend, it could give reason enough for people to add it to a list of penny stocks on Robinhood to watch this week.
Robinhood Penny Stocks To Watch #3: Onconova Therapeutics Inc ( ONTX)
Similar to the two companies above, Onconova Therapeutics Inc (ONTX Stock Report) also presents data at the ASH meeting this weekend. The company presents Phase 2 data for oral rigosertib and azacitidine in “first-line high-risk myelodysplastic syndromes.” If you’re not up on the biology terminology, myelodysplastic syndrome is a rare disease that can progress to leukemia and impact blood vessels in the bone marrow.
Needless to say, ONTX stock seems to have reacted favorably during the second half of last week. In fact, since the start of December, shares have jumped 80% as of Friday’s close. Onconova will give 4 other poster presentations at the ASH meeting as well.
The company’s rigosertib has received some attention over the last few months. In an announcement last week, Onconova reported that it entered into a collaboration to make the treatment available as an intravenous via a Pre-approval Access Program in certain countries.
These include many European countries as well as South Africa. The company’s CEO, Steven Fruchtman said that “The program will run alongside our ongoing Phase 3 INSPIRE Trial, and is expected to continue until commercial launch in such countries. We are pleased to work with Inceptua, given their strong record of administering such programs successfully.”
Robinhood Penny Stocks To Watch #2: ImmunoGen Inc. (IMGN)
Continuing the trend of ASH meeting presenters, ImmunoGen Inc. (IMGN Stock Report) presents data this week. The company will discuss its IMGN632 in Phase 1 testing for hematological malignancies. This includes things like myeloid leukemia and lymphocytic leukemia. An oral presentation will also go over the first-in-human trial of IMGN632, so this could be an important weekend for ImmunoGen.
Since this is a first-in-human trial, it may set the tone for the next move of ImmunoGen. Last week we talked about how IMGN was a penny stock to watch after the start of the fourth quarter. Since October 1, IMGN stock has climbed nearly 70%. Can the trend continue after this week’s Phase data presentation?
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Over the last week or so, ImmunoGen was a stock to watch. After consolidating on Monday, the penny stock managed to recover throughout the week. Friday didn’t show that much activity in comparison to the other penny stocks on this list. However, it will be interesting to see the response from its presentation this week.
Robinhood Penny Stocks To Watch #1: Geron Corporation (GERN)
Rounding out this list of ASH meeting presenters, Geron Corporation (GERN Stock Report) reports data on Monday. The company will discuss its first-in-class treatment GRN163L; Imetelstat. The treatment focuses on myelodysplastic syndromes. And if that sounds familiar, it’s a similar focus on Onconova mentioned above.
In previous announcements, the company has given some suggestions as to the impact that its Imtelestat may have on patients. In its abstract, the company shows findings that support Imetelstat as a viable treatment as part of a regiment that includes ruxolitinib. The findings also support the drug’s ability to inhibit activity against malignant myelofibrosis hematopoietic stem cells.
At a very basic level, this would be a treatment for patients with certain types o bone marrow cancers. Obviously it is much more advanced than I’m explaining but if you weren’t up on that verbiage, it’s a little something to get you started on your google search. Needless to say, this comes as GERN stock has enjoyed a multi-week bull trend since mid-November. During that time, the penny stock climbed from around $1.25 to highs on Friday of $1.57. Will that continue after its presentation this week?