Are These Penny Stocks On Your List This Week?
With the rise of coronavirus penny stocks, speculation is driving the market right now. The key focus for novice traders is scoring a quick buck. However, emotion is a curse and a blessing especially when it comes to trading penny stocks. Fear of Missing Out can make investors trade irrationally and detach from their trading plans. So it’s very important to understand the risk/reward that factors into your trading approach. Essentially, it’s not a great idea to buy penny stocks without looking into specific details of the companies or why a stock is moving.
With this in mind, while some coronavirus penny stocks took off and made new highs today, many are back in the red. As we have mentioned in the past, it’s always key to research what you’re buying. Make sure you understand what is happening in the market. With this in mind, let’s take a look at some penny stocks that may be making moves outside of coronavirus related events as there may be more than just hype driving momentum.
Penny Stocks To Buy [or sell]: Oragenics, Inc.
First, on this list of penny stocks, Oragenics (OGEN – Free Report) was one of the names we have discussed in the past. Initially, this penny stock began its move as it approached the date of an industry presentation. On top of that, FORM 4 filings showed insider actions taken. While coronavirus concerns may still play a role, there could be more to Oragenics than the current fad.
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Last year the company completed enrollment of a Phase 2 trial of its lead product candidate, AG013. It’s an oral rinsing system to prevent oral mucositis. It’s usually observed in patients with cancer being treated with chemotherapy. Sure, the company deals with infectious diseases but there could be something bigger at play here. That “something” is timing.
According to Alan Joslyn, Ph.D., President and Chief Executive Officer of Oragenics, “With the achievement of this significant corporate milestone, we remain on track to report results from this study in early 2020.” Given the fact that we’re heading into the final month of the quarter, how much longer will “earlier” last before the company reports results? Since February 3, the stock is up over 50% month-to-date.
Penny Stocks to Buy [or sell]: Biocept Inc.
Next, Biocept Inc. (BIOC – Free Report) has made waves on Friday. Shares of the biotech penny stock soared to highs of $0.48 during the morning session. The company is another one of the “non” coronavirus penny stocks. It actually focuses on liquid biopsy tests. Earlier this month the company reported that it entered into an agreement with a California-based physician association to provide testing services to physicians and patients in that network.
In addition to this, the company appointed a new SVP of commercial operations on the 14th. But the big focus is on what’s happening Friday. Shares of BIOC stock jumped from an open of $0.285 and ran to $0.48. While the penny stock pulled back during lunch, it began trending higher heading into the afternoon.
There’ve been no recent filings and no recent news to justify this move. Needless to say, it will be interesting to see what happens next in regards to its latest partnership deal. It could be one of the penny stocks to watch as this recent momentum has sparked more interest with the stock.
Penny Stocks To Buy [or sell]: Moneygram
Moneygram Inc. (MGI – Free Report) is one of the penny stocks that has been a love/hate stock for months now. However, on Friday, it looks like love is in the air for the time being. The money transfer company has been dubbed a fintech penny stock and a blockchain penny stock. No matter how it’s classified, shares are jumping at the end of the week.
Following a 2-week long slide, MGI stock may have started to turn around. The penny stock hit lows of $1.83 on Thursday and has since climbed to highs. of over $2 on February 28. There hasn’t been any new news on the company. While this may be the case, the company did file its annual report on the 28th. At a glance, there are a few highlights.
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These include Money transfer transactions through moneygram.com grew 14% in 2019 compared to the prior year. In addition, In 2019, total operating expenses as a percentage of total revenue declined when compared to the prior period. But it’s also important to note that year over year revenue also declined a bit. Though, given the response in the market, traders seem to have reacted positively to the results so far. Will it remain one of the penny stocks to watch in March?
Penny Stocks To Buy [or sell]: Advaxis
Another one of the penny stocks we’ve continued to follow the progress of is Advaxis Inc. (ADXS – Free Report). While the last few weeks have been tough for ADXS stock, the company has started to release new updates on its pipeline. In fact, earlier this week Advaxis reported that saw positive clinical data in its ongoing Phase 1/2 ADSX-503 trial. The treatments is for patients with non-small cell lung cancer.
“The first two patients treated in the combination arm of ADXS-503 and pembrolizumab were older patients with up to four prior lines of therapy. These data are very encouraging as they preliminarily demonstrate the ability of ADXS-503 to enhance or restore sensitivity to checkpoint inhibitors as we had hypothesized during the design of the study based on preclinical data.”
Dr. Jonathan W. Goldman, Director of Clinical Trials in Thoracic Oncology at UCLA
This was released Thursday morning. However, it seems that the message resonated well on Friday. The shares of the company jumped from a gap-down low of $0.67 to early highs of $0.8399. Has this latest news helped breathe new life into this beaten-down penny stock ahead of next month?
Contact: Midam Ventures, LLC | (305) 204-3247 | 1501 Venera Ave, Coral Gables, FL 33146 | news@pennystocks.com
