Top Penny Stocks To Watch Right Now; 5 Up Over 100% n Q2

Are These On Your List Of Penny Stocks To Watch Before June 2020?

The stock market today is jumping again and so are a number of penny stocks. One thing brought to my attention was the misconception that penny stocks are meant for short-term day trades. Now, before I get to my point, let me just say that there is no set time you should or shouldn’t hold stock.

It’s based on your personal strategy for trading penny stocks. However, there are ways to buy and sell to take advantage of short-term gains while holding what some consider a small “core” in case the stock really takes off.

This brings me to my main point. Not all penny stocks are short-term runners. In fact, if you look back at the year so far, many have gone on to run for weeks and months. The coronavirus certainly made a large footprint and a number of companies took advantage. Not in the sense of abusing the downtrodden economy but more-so the opportunity to innovate during uncertain times.

Not only biotech penny stocks but other sector stocks as well. Tech, mining, etc. have all benefited from the current climate that COVID-19 has created. With this in mind, there are several penny stocks that have mounted a strong bull trend this quarter. Here are 5 penny stocks to watch that have climbed at least 100% in Q2, 2020

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Penny Stocks To Watch #1: Assertio Holdings

Shares of Asssertio Holding (ASRT Stock Report) took off on Thursday. The company has a robust portfolio of branded prescription neurology, inflammation and pain medications. Much of the excitement around ASRT stock has been based on a pending merger. Last week, Assertio formally announced the closing of the merger with Zyla Life Sciences. The combined company will operate under the Assertio name.

According to the company, the merger creates a commercial pharmaceutical company with neurology, inflammation, and pain products. Assertio now has a differentiated portfolio of non-steroidal anti-inflammatory drugs. These are commonly used by neurologists, orthopedic surgeons, internists, and many other physicians. All eight products are branded, FDA-approved products according to Assertio. They will be managed by the company’s newly formed commercial team.

Why is ASRT stock jumping on Thursday? Well, there’s been no news posted. But a recent filing may reveal some information. In a filed 8K, the details show Assertio Holdings, Inc. has assumed $95 million of 13% senior secured notes issued pursuant to an indenture entered into on January 31, 2019 by and among Zyla Life Sciences. Among other details, this essentially confirms the merger deal with Zyla. Could this be the major catalyst behind the recent move or is there another cause for speculation? Either way, if ASRT stock is on your list, keep this in mind. So far, shares have climbed as high as $1.35 this month marking a move of over 100% for the month. To date, ASRT stock is up 78% with today’s $1.14 high.

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Penny Stocks To Watch #2: Surface Oncology

Surface Oncology (SURF Stock Report) was another one of the top penny stocks this quarter. Since April 1st, SURF stock has climbed from around $1.80 to highs of $7.66. Quarter to date, SURF stock is still up over 170%. The company recently tapped Jones Trading as a sales agent for a $50 million share offering.

Keep in mind that the company put out big news earlier this month. This could be cause for further bullish speculation on the stock. Surface announced that it entered into a clinical trial collaboration with Merck (MRK Stock Report), known as MSD outside the United States and Canada , through a subsidiary. This is to evaluate the safety and efficacy of combining Surface’s SRF617 with Merck’s KEYTRUDA® (pembrolizumab). According to the company, this combination will be studied as a component of the first-in-human Phase 1/1b study of SRF617. It will be evaluated in patients with solid tumors, with a focus on patients with gastric cancer and those who have developed resistance to checkpoint inhibition. Considering that these are both areas of unmet needs, this could be pivotal for the company. 

Though SURF stock is trading at the higher end of the penny stock range, it has been one to watch in Q2. The big question is what will come next? A collab with Merck certainly isn’t a small event to not take note of. But considering the planned raise, will that impact the wild run SURF stock has seen? You can see more details of the raise in the company’s May 22 424B5 filing.

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Penny Stocks To Watch #3: Miragen Therapeutics

Miragen Therapeutics Inc. (MGEN Stock Report) is on the move again on May 28th. If you recall, this was one of the penny stocks to watch earlier this year. At the start of January, MGEN stock traded around $0.50 and saw a strong rally to highs of over $2.20. That was a move that lasted about a month. But with parabolic rallies, what goes up quickly can come down just as quickly. After settling out finally at 52-week lows of $0.31, the penny stock began a steadier move higher. Since the start of the second quarter, MGEN stock has managed to climb 158% at Thursday’s $1.13 high.

Earlier this month the company reported its Q1 financials. Among key highlights, miRagen reported positive new data for its cobomarsen in ATLL patients in January. However COVID-19 directly impacted some of the clinical sites for its SOLAR trial. Cobomarsen is currently being evaluated for the potential treatment of patients with miR-155 elevated hematological malignancies. This includes Cutaneous T-Cell Lymphoma and Adult T-Cell Leukemia/Lymphoma (ATLL).

Next week could be an important one for miRagen. The comapny is set to present at the Jefferies 2020 virtual healthcare conference. William S. Marshall, Ph.D., President and Chief Executive Officer of miRagen, will be presenting on behalf of the company just as the market closes on June 2. Is this latest move a speculative bull trend based on that presentation? It’s important to keep in mind that May 21, Miragen held its 2020 Annual Meeting of Stockholders (see May 22 8K). Among approved amendments was amendments to the Company’s certificate of incorporation to “effect a reverse stock split of the Company’s Common Stock, at a ratio of between 1-for-3 and 1-for-20”.

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Penny Stocks To Watch #4: IZEA Worldwide

Another one of the top penny stocks we’ve watched breakout this month was IZEA Worldwide (IZEA Stock Report). On May 4th, the company announced a streaming event to demonstrate the latest capabilities of BrandGraph®, its newly released social intelligence platform. According to the company, BrandGraph provides analysis of share-of-voice, engagement benchmarking, category spending estimates, influencer identification, and sentiment analysis.

Why is IZEA stock moving this week? The company came out with additional progress updates. IZEA announced that it established a new relationship with a “Fortune 500 insurance company” for influencer marketing services. IZEA said it also expanded its relationships with a “Fortune 100 food manufacturer” and a leading “multi-billion-dollar furniture goods manufacturer,” among others.

“The surge of customer wins in recent weeks is simply remarkable. As of today, Q2 bookings for managed services in 2020 have already exceeded Q2 bookings for the same period in 2019.”

Ted Murphy , IZEA’s Chairman and CEO

While there is a current S-3 filing in place to raise money, it doesn’t seem to have impacted the stock price much. On May 22nd the registration statement was filed. shares of IZEA stock began the quarter trading at $0.1995, have seen highs of $0.949 and traded at nearly $0.70 on Thursday. Can this trend continue into June?

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Penny Stocks To Watch #5: ResTORbio Inc.

Finally, ResTORbio Inc. (TORC Stock Report) comes onto the penny stocks to watch list right now. TORC stock opened the quarter on April 1 at $1.03. It has since climbed to highs of $2.49 on May 28. That 140%+ move didn’t come quietly. While it has been a very consistent upward trend, ResTORbio has made sure to keep the public updated.

This week, ResTORbio made its latest announcement. The company announced the initiation of a randomized, double-blind, placebo-controlled trial of RTB101. The TRB101 is an investigational orally-administered small-molecule inhibitor of target of rapamycin complex 1 (TORC1). It will be compared to a placebo for COVID-19 prophylaxis in nursing home residents. The study is supported by additional data observed in resTORbio Phase 2b and Phase 3 clinical trials. These suggest the potential of RTB101 to reduce the severity of laboratory-confirmed coronavirus infections according to the company.

TORC stock has also attracted the institutional community as well. Earlier in May it was revealed in a 13D filing dated May 8 of a new stake. This was purchased by Adicet Bio, Inc. which reported a beneficial ownership stake of 9,136,678 shares or about 25.07% in resTORbio Inc. Will the latest news and insider activity point to more momentum for this penny stock or has TORC reached its peak?

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