Coronavirus Penny Stocks Are Soaring After Big News From Novavax
If there’s one thing penny stocks tend to do, it’s move in sympathy with big sector news. Most recently we’ve seen this occurrence with biotech penny stocks. But it’s been a very prevalent topic of discussion when we talk about cannabis stocks.
We clearly saw that in play with the last earnings beat from the like of Aurora Cannabis. Before that, we saw the deal between Canopy Growth and Constellation Brands spark a sector move.
This week, it’s all about biotech. Earlier today we released an article about one penny stock that has jumped more than 25 times since January. Novavax or “NVAX” is a COVID-19 vaccine developer that just made headlines with a $1.6 billion award from the federal government. This sent several COVID-related penny stocks running on Tuesday. The biggest question now is can the trend last? We’re seeing record cases across major cities in the U.S.
Coronavirus Penny Stocks To Watch
On Monday, for the 28th day in a row, the country’s rolling seven-day average of daily new cases broke all previous records. Georgia, Alabama, Texas, North Carolina, California, and South Carolina were among states that reported significant numbers of hospitalizations. Throw some vaccine news into the mix and there’s a good chance investors are taking notice. Heading into July, will these coronavirus penny stocks make your list?
Shares of Biocept Inc. (BIOC Stock Report) were in rally mode late in the Tuesday session. While the company hasn’t released any new updates, its release from the end of June continues to gain attention. The company was awarded Canadian Patent 2812291, entitled METHODS AND REAGENTS FOR SIGNAL AMPLIFICATION.
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This covers methods for enhancing the detection of cells using fluorescent complexes. Biocept said this includes circulating tumor cells, and from a biological fluid. The issuance of this patent increases Biocept’s total patent awards for use in its molecular diagnostics business to 40.
Also, keep in mind that this follows another deal with closing on a managed care provider agreement. This was with Medical Cost Containment Professionals, LLC to process out-of-network claims for Biocept’s Target Selector™ liquid biopsy testing. Medical Coast is a reference-based pricing insurance network that includes more than 150,000 providers nationwide.
Biocept explained that Medical Coast’s network includes 47 million covered lives, with some members covered by multiple plans. With this in mind, can BIOC stock continue higher with other coronavirus penny stocks this week? Since we started following along in April, BIOC stock has climbed nearly 100% to date.
CHF Solutions Inc.
CHF Solutions (CHFS Stock Report) is another one of the penny stocks to watch this year. Since February, the overall trend for the CHFS stock price has been relatively flat. But on a daily basis, there’ve been quick swings of 15-20%. In general the channel for the penny stock has been between $0.30 and $0.45 up until recently. Shares started June at $0.36 but volume has been surging ever since. CHFS stock has jumped as high as $0.629 on July 7.
CHF isn’t necessarily a vaccine candidate company but it does focus on COVID-19/ Last month the company announced Children’s Hospital of The King’s Daughters in Norfolk, Virginia has initiated ultrafiltration therapy. Furthermore, it’s using the Aquadex SmartFlow™ system. Following this update, CHF announced last week that it has sold Aquadex SmartFlow™ consoles and disposables to a critical care hospital. It will use these in the treatment of COVID-19 patients in Central Florida.
This week the comapny hosts a webinar to discuss fluid overload in pediatric patients. Dr. David Askenazi, M.D. MSPH will being the presentation at 1PM EDT on July 9. The follows last month’s webinar discussing COVID-19 specifically. “Over the last several months, we have gained significant insights about treating COVID-19 patients, especially from the dedicated medical professionals treating patients on the front lines around the global,” said John Erb, CEO of CHF Solutions in a press release. Again, there’s been no new updates from the company but CHFS stock is once again on the move with heavier volume on July 7th.
PDS Biotechnology Corporation
PDS Biotech (PDSB Stock Report) has been on the radar for months. Since mid-April when we first discussed PDSB stock, shares have jumped as high as $3.15. At the time the company announced that it expanded its infectious disease pandemic development program. This included a vaccine for COVID-19 (and universal influenza).
In the company’s previously reported Phase I clinical study of its PDS0101 (NCT02065973), Versamune® was confirmed to be safe. It was deemed to uniquely facilitate the induction of strong antigen-specific CD8+ and CD4+ T-cells in vivo. This included memory T-cell responses against the HPV viral target, leading to regression of disease.
Most recently the company announced that data from its PDS0101 in combination with 2 other investigational anti-cancer agents was published in an industry journal. The article “Immunomodulation to enhance the efficacy of an HPV therapeutic vaccine” by Rumfield et al. was published in the Journal for ImmunoTherapy of Cancer. Obviously, that wasn’t COVID-related. But the fact is PDS Biotechnology is focusing efforts on potential vaccines for infectious diseases.
The company filed an 8-K at the end of June. This showed that PDS Biotechnology updated its corporate presentation slide deck. In it, the company demonstrates on Versamune “uniquely induces strong T-cell responses against SARS -CoV-2 in 2 weeks.”
Finally, iBio Inc. (IBIO Stock Report) focuses on plant-based biologics manufacturing. Believe it or not, when we first started looking at iBio, the penny stock was trading around $0.20. It’s been one of the top names to follow on our site ever since last December. But as we know, things picked up when it started getting mentioned alongside other coronavirus penny stocks.
Most recently the company is focusing on the development of a COVID-19 vaccine. Something else that has brought much more attention to the epicenter penny stock is getting added to the Russell 200 and Russell 3000 Indexes. Additionally, the company was selected by IBM Watson Health to receive 18 months of use of the IBM Clinical Development solution for free.
Thanks to news like this IBIO stock has seen a favorable reaction in the stock market. It has also resulted in attracting analysts attention. Alliance Global Partners recently started the stock with a “Buy” rating. It also set a price target of $2.75 for the penny stock. With record coronavirus cases (again), vaccine stocks could be a focus for investors in July. Will IBIO stock head higher this week?