best penny stocks list right now

Are These The Best Penny Stocks To Buy Right Now Or Should They Be Avoided All Together?

On Monday morning, the markets rebounded in an aggressive fashion. But this is a stark difference in what we saw late last night with stock market futures hitting the “limit down”. This week’s latest buzzword, if you haven’t guessed it, is “aggressive”. In breaking news on March 23, the Federal Reserve said, “Aggressive effort must be taken across the public and private sectors to limit the losses to jobs and income and to promote a swift recovery once the disruptions abate.”

[Read More]  Learn How To Make Money In A Down Market

The Central Bank said that it would purchase an “unlimited” amount of Treasurys and mortgage-backed securities in order to support the financial market. This is an unprecedented move to support economic growth while most of America’s industries cut back operations; some totally shutting down. Time is of the essence as we know as we now await a coronavirus plan from Congress.

The U.S. coronavirus relief bill stalled on March 22 with Senate Democrats and Republicans unable to agree on a final version. There are now over 335,000 cases of COVID-19 around the world. Senate Democrats said they had “serious issues” with the package supported by Majority Leader Mitch McConnell. This triggered a sell-off in global markets overnight and U.S. stock market futures dipped heavily.

Treasury Secretary Steven Mnuchin said Monday that the Senate is “very close” to getting the deal done. Furthermore, Mnuchin expressed that the deal needs to “get done today”. In light of this, it wouldn’t hurt to put together a list of penny stocks to watch. However, after the market opens, will they be the best penny stocks to buy or avoid entirely?

Best Penny Stocks To Buy [or avoid]: Aytu Bioscience

penny stocks to watch Aytu BioScience (AYTU)

Aytu Bioscience (AYTU Stock Report) was on our weekend penny stocks watch list. As we’ve come to know, Aytu is in the middle of the coronavirus testing niche. Over the last few days, the FDA started issuing emergency use authorization for point-of-care testing ability to companies like Danaher’s (DHR Stock Report) Cepheid.

Testing has become a huge focus as there have been a limited number of kits made available. When you talk about “picks and shovels” you talk about companies like these that don’t focus on a direct cure. They focus on ancillary products that support and play a role in the entire ecosystem of the coronavirus’s impact.

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This week, Aytu started things off with a new update. The company reported the submission of a Notice of Commercialization to the FDA. This would allow the company to distribute its 2-10 minute COVID-19 IgG/IgM Rapid Test in the United States. The company expects delivery of the first 100,000 tests, this week.

“We are moving as quickly as we can to bring the COVID-19 IgG/IgM Rapid Test to the U.S. professional medical community. With product now in transit to our warehouse in Colorado we’re optimistic that we can have test kits ready for sale in the very near term.”

Josh Disbrow , Chief Executive Officer of Aytu BioScience

Penny Stocks To Buy [or avoid]: Heat Biologics

penny stocks to buy heat biologics (HTBX)

Heat Biologics (HTBX Stock Report) is another one of the coronavirus penny stocks on the radar this month. It’s been one of the companies frequently discussed since the first weekend of March. The company reported its own collaboration efforts for a new test, this week. Heat and the University of Miami entered into a collaborative research agreement.

The program will see the two, team up to develop a UM COVID-19 point of care diagnostic test. According to the company, initial data suggests that the new test can deliver results in under 30 minutes.

“We are honored to work with Dr. Daunert and the University of Miami to develop this exciting new platform for early and quick diagnosis of COVID-19. Her lab has developed multiple bioassays against similar diseases, and we are eager to utilize these tools in the war against COVID-19. Importantly, we believe this point of care diagnostic will address many of the challenges facing existing tests, including time to readout and cost.”

Jeff Wolf , Chief Executive Officer of Heat Biologics

Best Penny Stocks To Buy [or avoid]: CytoDyn Inc.

list of penny stocks to buy CytoDyn (CYDY)

CytoDyn Inc. (CYDY Stock Report) is a long-standing member of the penny stocks to watch lists on this site. We first began to take note of it back in December. At the time, the penny stock traded around $0.35. Since then, CYDY managed to reach highs of $1.65 before consolidating back to around $0.95. So, why is CytoDyn a potential penny stock to watch right now?

This week, the company progressed further in its possible COVID-19 treatment. CytoDyn’s leronlimab is being administered under an emergency IND granted by the FDA. The treatment is intended to act as a therapy for patients with respiratory complications resulting from COVID-19.

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Originally, leronlimab received “Fast Track” designation for two potential indications of the treatment for HIV and breast cancer. But, as we’ve seen over the last few months, many drug companies specializing in immune therapies have shifted focus to coronavirus. Bruce Patterson, M.D., CEO of IncellDx, a diagnostic partner and advisor to CytoDyn, said, “IncellDx has developed specific companion diagnostic tests to determine the efficacy and dosing of leronlimab in these severe cases of COVID-19. We believe that leronlimab acts by enhancing the immune response while mitigating the ‘cytokine storm’ that leads to morbidity and mortality in these patients.”

Best Penny Stocks To Buy [or avoid]: Novan Inc.

penny stocks to watch Novan (NOVN)

Novan Inc. (NOVN Stock Report) has also been a frequent mention during these crazy coronavirus times. This week the company announced data from a week 24 safety evaluation of its SB206 treatment for scarring. “We believe the safety and scarring profiles of SB206 are attractive to the patients and caregivers that are currently faced with painful in-office, dermatologist-administered physical removal or blistering procedures,” commented Elizabeth Messersmith, Ph.D, Senior Vice President and Chief Development Officer.

In addition to that, the company also had COVID-19 related news to report. Novan is looking to explore using its Nitricil technology as a potential topical, oral, or nasal treatment for COVID-19. To date, the company hasn’t received notification from the FDA regarding any delay or cancellation of a Type C meeting scheduled on April 1.

Given the surge in new cases, any company holding a viable application might be looked at. Over the course of the last few weeks, NOVN stock managed to climb as high as $0.97. After pulling back to around $0.30 last week, the coronavirus penny stock has rallied once again. As of 10:15AM EST on March 23, NOVN stock hit early highs of $0.739

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