Are These Penny Stocks On Your Friday Morning Watch List?
Friday, January 10 marks the end of the first full week of 2020 and there are several economic reports to take into account. These include employment, nonfarm payrolls, and business inventories. These will all be reported throughout the day but with that, are there certain penny stocks to watch ahead of these figures?
To be honest, the majority of penny stocks tend to beat to the sound of their own drums. There are some exceptions, hower. Usually, we’ll see this when it comes to oil and gas stocks, marijuana stocks, and some precious metals stocks. Aside from that, the vast majority of these cheap stocks tend to rally and fall on their own accords.
So how to get started comes in the form of research. This spans anywhere from basic news releases to digging into highly detailed corporate filings. Obviously, if a stock is moving, you want to know why. Similarly, you’ll want to be fully aware of any upcoming events. These include presentations, corporate meetings, and earnings reports among other things. Once you do that, start making your list of penny stocks.
In this article, we’ll cover a few micro-cap stocks that fall into this category. But at the end of the day, will they be penny stocks to buy or should you avoid them at all costs? At the end of the day, that’s up to you but we’re here to report some of the quick points on these companies to help you on your path of research.
Penny Stocks To Buy [or sell]: Aduro BioTech, Inc. (ADRO)
Shares of Aduro BioTech (ADRO – Free Report) have been on the move since late December. The move has seen ADRO stock jump from around $1 to highs of $1.44 this week. What’s raising eyebrows came after the market closed on January 9.
Aduro announced that it will be restructuring the company. The plan is to extend the company’s operating capital and put personnel in place to execute its clinical development strategy. Essentially, the company conducted a review of its operations and opportunities for growth and found some changes that needed to be made.
Aduro will end up decreasing its workforce by 51 employees equating to nearly 60% of its entire employee-base. It will also be shutting doors on some of its facilities. This includes the Aduro Biotech Europe headquarters in the Netherlands by Q3 this year.
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Stephen T. Isaacs, chairman, president, and chief executive officer of Aduro said, “We are creating a more streamlined organization by focusing on generating clinical data and identifying candidates for the cGAS program to bring forward into development. While this means that we are not able to retain the entirety of our current workforce, Aduro continues its development and research efforts supported by an incredibly talented team that is fully invested in the future of the Company.”
Penny Stocks To Buy [or sell]: AzurRx BioPharma (AZRX)
This company didn’t have any updated news, but AzurRx BioPharma (AZRX – Free Report) continued a multi-month bull run on January 9. Shares have climbed by as much as 269% since hitting 52-week lows in October. During that time, AzurRx appointed a new CEO and began dosing patients for a clinical study for its MS1819-SD for cystic fibrosis.
Most recently the company continued its C level expansion. Earlier this month the company appointed Daniel Schneiderman as CFO. But something to pay close attention to is the company’s progress and plans for moving things forward this year; just my opinion.
In a December 12 “3Q:19 Review,” a research analyst from Zack’s made a point to say, “Management has advised that there will be a meeting before year-end with the FDA to determine next steps which could include a Phase IIb or a Phase IIb/III trial.”
As discussed above, you need to see “what’s coming next.” Now, I haven’t seen any updates at the end of 2019. However, in the case of AzurRx, something’s coming next week. The company presents at the Biotech Showcase 2020 Conference on the 13th. You’re likely going to hear more about this conference and companies attending, in other articles on PennyStocks.com as well.
Penny Stocks To Buy [or sell]: Phio Pharmaceuticals (PHIO)
Next on this list of penny stocks, Phio Pharmaceuticals (PHIO – Free Report) enjoyed a nice late afternoon push on January. But let’s see where PHIO stock has been and analyze any potential trends here. Back in November, shares hit 52-week lows of $0.1025 which was a far cry from its $0.50+ highs. Needless to say, Phio has recovered by more than 100% since that time.
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On January 9, the biotech penny stock saw one of its most active trading days. That’s from both price appreciation and share volume. With a current outstanding share count of under 40 million, a day like today equates to nearly half of its O/S being traded. I mention this because there was no news or filings released.
However, the most recent update came on January 6. As you might have guessed it from the last section, Phio is also set to make a presentation this month. Also, just like above, it will do so at the Biotech Showcase 2020 on January 13. The company presents information on its INTASYL technology, which is designed to silence genes. It will also provide an update on its pipeline, applying INTASYL as a standalone and in combination with other cell-therapy.
Penny Stocks To Buy [or sell]: Aclaris Therapeutics Inc. (ACRS)
Finally, Aclaris Therapeutics Inc. (ACRS – Free Report) has been in rebound mode ever since August of last year. That’s when the penny stock hit lows of $0.74. This week it saw highs of $1.93. Though this is impressive compared to those August figures, ACRS stock reached highs of over $2 back in September before consolidating.
This time around, Aclaris Therapeutics Inc. has caught attention after announcing positive phase trial results. In the company’s Phase 1 Single and Multiple Ascending Dose Trial of its ATI-450 showed favorable results from dosing and tolerability.
“We believe these data support the progression of ATI-450 into Phase 2 clinical development. The potential for an oral small molecule which suppresses multiple proinflammatory cytokines could be very meaningful for the treatment of a number of immuno-inflammatory diseases.”Dr. David Gordon, Chief Medical Officer of Aclaris
Thanks to this, ACRS was one of the biggest after-hours movers on January 9. Can that continue int the rest of the week?