best penny stocks to trade today

Markets are trying to recover this morning after one of the biggest dips it’s seen since October. One of the biggest contributing factors has been the coronavirus. The death toll continues to rise as China makes attempts to curb the global risks of creating a pandemic. The majority of deaths have come from Wuhan, China. This has made for a big scramble for penny stocks that focus on vaccines.

In addition to this, it will be a big week for earnings. Why bring all of this up right now? It is things like these that are important to consider when putting together your list of penny stocks. We always talk about tracking the market closely. These are broader market events that could have and have had trickle-down effects on certain stocks this week.

Penny Stocks To Watch: BioCryst Pharmaceuticals

penny stocks to watch BioCryst Pharmaceuticals Inc. (BCRX)

The first penny stock that could be considered by investors is that of BioCryst Pharmaceuticals (BCRX – Free Report). The stock had been in the middle of a major rally last week after it emerged that the coronavirus had broken out in China. This momentum continued on Monday.

Yesterday, it emerged that the outbreak is spreading. That led to another rally in shares of BioCryst stock. During this time, many stocks even remotely related to any treatment for this condition have enjoyed rallies. That is what happened with BioCryst.

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The stock rallied by as much as 14.23% on Monday as investors continued to pile on to it. Tuesday morning saw shares head even higher. BCRX hit premarket levels of nearly $3.70, which would make it the highest trading price this month, so far. Can it continue into the rest of the week?

Penny Stocks To Watch: Trovagene

penny stocks to buy or sell TrovaGene Inc. (TROV)

The other penny stock that may deserve attention at this point is that of Trovagene (TROV – Free Report). It has enjoyed a strong rally since the beginning of the year. This week that continued after the company made a major announcement with regards to one of its products. Trovagene released highly positive preliminary data from the Phase 1/2b clinical trial of its products onvansertib. This was in combination with Roche’s Avastin and FOLFIRI.

It goes without saying that the developments are significant for Trovagene. It was no surprise when the stock started rallying. Shares jumped to highs of $2.08 during the regular trading session ($2.36 during premarket trade). Since the start of 2020, shares of TROV stock have jumped as much as 75% so far.

Penny Stocks To Watch: Net 1 UEPS Technologies

best penny stocks to trade Net 1 UEPS Technologies (UEPS)

Lastly, it was the Net 1 UEPS Technologies (UEPS – Free Report) that emerged as one of the bigger gainers among penny stocks on Monday. The company announced that it has decided to sell the entirety of Korean payment processor KSNET Inc to Stonebridge Capital and Payletter. The deal is worth around $23 million, and the news resulted in a rally in the stock as the markets welcomed the decision. UEPS stock rallied by as much as 11.50% on Monday.

Something to keep in mind with Net 1 is that shares pulled back by the end of the day. So, despite such a huge breakout on Monday, it may be prudent to see what happens later this week before making a decision one way or another.

Penny Stocks To Watch: Cleveland BioLabs

best penny stocks to trade Cleveland BioLabs (CBLI)

Another biotech stock that could be considered by investors is that of Cleveland BioLabs (CBLI – Free Report). It gained significantly on Monday due to coronavirus fears. There was no news with regards to the company’s business. But it is believed that it was the news about the spread of the coronavirus that gave shares a boost.

CBLI stock rallied by as much as 210% as investors piled on to it amid further panic worldwide due to the epidemic. In this regard, it should be noted that the company does not produce any coronavirus vaccine or medicine. But, you can’t ignore the fact that shares have climbed 690% since the beginning of the year. Most of the gain came after Monday’s trading session.

Penny Stocks To Watch: Vaxart Inc. (VXRT)

top penny stocks to trade Vaxart Inc. (VXRT)

Finally, Vaxart Inc. (VXRT – Free Report) has made some noise this year already. The penny stock started the year off at $0.335 and has managed to reach highs of $1.26 during premarket trading on January 28. Believe it or not, Vaxart is one of the few “coronavirus” stocks with a relatable story in my opinion. Earlier this month, the company reported results from an H1 influenza oral tablet vaccine challenge study. Vaxart’s oral tablet was well-tolerated and “provided statistically significant protection against H1 influenza infection.”

Since the coronavirus has been so closely related to pneumonia or influenza, this could be a big step for Vaxart. “If the results of the oral H1N1 influenza vaccine in this clinical trial can be reproduced with a quadrivalent mixture of strains this would revolutionize immunization against influenza, which after all is a mucosal disease,” said Stanley Plotkin, MD.  

[Read More] Best Penny Stocks To Watch In Canada This Week? 4 To Know

In its Phase 2 influenza A challenge study, results showed that its tablet generated a 39% reduction in clinical disease. This was relative to placebo and compared to a 27% reduction by Fluzone. Thanks to more concern regarding coronavirus, shares of Vaxart continued higher on Tuesday morning.


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