Penny Stocks To Watch Before The End Of The Month
Are penny stocks on your watch list right now? If not, you may want to at least take a look at a few right now. That is, if you have an appetite for risk. At the end of the day, penny stocks are high-risk/high-reward equities that can realize big gains quickly.
The biggest driving force to that is volatility. These big swings in stock price are where investors can capture these gains.But something interesting is going on that may not appear obvious to some. Volatility is fueling the broader markets right now no matter where you look.
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The fact that markets are seeing 1,000 point swings isn’t normal. But it’s a big attraction to high-risk investors. Penny stocks could be perfectly suited for current conditions and that might be the case for the near future. Famed economist Mohamed El-Erian said it isn’t clear where the next “anchor” for markets will come from. He also believes the volatility will persist until that is identified.
Making a long story, short market volatility could be here to stay right now. This bodes well for stocks already known for their volatility. Enter: penny stocks. If you’re looking to blue-chip stocks and wanting more than just that “epic” 10% jumps these have seen, consider penny stocks over the last few weeks. Some of them have rallied 10-fold within a matter of days. With this in mind, let’s take a look at a few high-volume penny stocks before next week.
Top Penny Stocks To Watch: Soligenix Inc.
While you might consider a high volume penny stock “volatile” it doesn’t necessarily mean it’s a stock that jumps in a single day. For instance, Soligenix Inc. (SNGX Stock Report) has been a monster over the last 6 months. We started taking a closer, more consistent look at SNGX stock in December. At the time it was trading around $1 and what followed was nothing short of an impressive run. By the end of February, shares were trading above $3.50 a share.
Of course, as many do, this penny stock pulled back to find its support around its major technical level at the 200 Day Moving Average. As a longer-term moving average, this level is typically used to identify overall market trends. Since it tracks about 40 weeks of trailing data, traders will use this in conjunction with other short-term indicators.
In general, if stocks drop aggressively, a level like the 200DMA will be a big focus. Breaking below such an established trend line is viewed as a bearish sign. However, if penny stocks (like SNGX) pull back to, test, and don’t break below it, traders may consider this a solid level of support.
In the case of SNGX stock, it has maintained the 200 and now 50-day moving averages as lower levels not able to be broken below (so far). In light of this, a look at the general trend shows a bullish direction. This week that trend continued to persist after the company announced it completed patient enrollment in its Phase 3 DOM-INNATE study for SGX942 (dusquetide). It’s used in the treatment of oral mucositis in head and neck cancer patients. With enrollment completed, top-line results are expected in the fourth quarter of 2020.
Top Penny Stocks To Watch: AIM ImmunoTech Inc.
Another one of the more active penny stocks to watch has been AIM ImmunoTech Inc. (AIM Stock Report). AIM stock had a big first quarter with shares running from around $0.57 to highs of $7.11 by early March. Similar to SNGX, AIM shares pulled back aggressively after that but managed to hold relative support around its 50 Day Moving Average. Since then, shares have traded steadily between $2.30 and $2.90 for the most part. Of course, there’ve been several jumps out of this range but for the most part, this has been the channel for the majority of the 2nd quarter.
We’ve reported on this company since late-January. At the time we also explained how “right now the coronavirus is a big topic” and how “following trends in the market” could help determine potential penny stocks to watch. Fast-forward and AIM began testing Ampligen as a potential treatment for COVID-19. In fact, earlier this month, AIM filed a provisional patent application for, among other discoveries, the use of its experimental drug Ampligen® as a potential early-onset therapy for the treatment of COVID-19 induced chronic fatigue.
The company said that it shows similarities to Myalgic Encephalomyelitis/Chronic Fatigue Syndrome (ME/CFS). It also received clearance from Argentina’s FDA to import Ampligen for commercial sale. It was also granted an international patent titled “Methods for Improving Exercise Tolerance in Myalgic Encephalomyelitis Patients.”
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Furthermore, an 8K filed on Wednesday shows AIM entered into a Specialized Services Agreement (with Utah State University. Pursuant to the Agreement, USU will conduct in vitro tests on the antiviral activity of Ampligen on SARS-CoV-2 in Diploid normal human bronchial epithelial cells. All things to keep in mind if AIM stock is on your list right now.
Top Penny Stocks To Watch: Heat Biologics, Inc.
Heat Biologics Inc. (HTBX Stock Report) has followed a similar trend to AIM. However, HTBX stock started the year off to a rocky start. Shares dropped from around $0.50 in January to lows of $0.195 in late February. Ever since then, however, it’s been in a generally bullish trend with the 50 Day Moving average acting as lower support since the start of April.
But the initial move came just as March was beginning. Following those 52-week lows, HTBX exploded to highs of $1.25 after entering a research collaboration with UM leveraging Heat’s gp96 platform to address SARS-CoV-2 coronavirus. Fast-forward to June and Heat shares continue to climb higher. The company aims to complete vaccine development and initiate manufacturing in August. The company has also reached new milestones via subsidiaries like Pelican Therapeutics.
In early Heat reported that the U.S. FDA cleared its Investigational New Drug application for PTX-25. This was developed by Pelican and saw its first-in-human Phase 1 clinical trials in its first patient. This first-in-human study is expected to enroll up to 30 patients with advanced solid tumors refractory to standard of care. Since the start of Q2, HTBX stock has climbed as high as $1.17 and is up, quarter-to-date, more than 30%.
