Are These On Your List Of Penny Stocks To Watch In July?
Can penny stocks become a big part of your overall trading strategy? Popular opinion suggests that high-risk investments should only be a small piece of your portfolio. However, depending on the type of investor you are, small-cap stocks might take the lead role right now.
The main reason behind this that 2020 has become the year of volatility it would seem. Even after the stock market dropped to some of its lowest levels in the last 3 years, the recovery has been just as wild. In fact, the tech-heavy NASDAQ has actually made new all-time highs this month.
It hasn’t been all rainbows and roses though. Many of the popular companies across multiple industries haven’t made it out of this unscathed. Most notably we saw companies like J.C. Penney, Hertz, GNC, and even Pier 1 fall victim to the coronavirus. Needless to say, the drop in the stock market also opened up other opportunities for new traders to gain exposure to penny stocks.
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If there’s one thing that the stay at home orders have done, it created a whole new pack of investors. These noobs who would otherwise be at work from 9-5 now have an opportunity to actually learn how to trade. Also, with new record case levels in places like Florida, it will be interesting to see how everything unfolds later this year. Overall, there are plenty of new market opportunities, sure, but you as an investor need to understand how to weigh the risk and reward of each trade. With this in mind, here are a few names seeing higher activity right now. Will they be the best penny stocks to watch in July?
Penny Stocks To Watch: Heat Biologics
Over the weekend we talked about Heat Biologics (HTBX Stock Report) in yet another follow up on its progress in 2020 so far. Initially, Heat was on the radar as March was beginning. 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.
Last month, the company came out with news on the initiation of its first clinical trial site for PTX-35. This is Heat’s T-cell co-stimulator. It targets what is known as TNFRSF25 (death receptor 3), which is a receptor that is preferentially expressed by antigen-experienced T cells. You’ve also got to keep in mind that it has also announced the first patient was treated in its first-in-human Phase 1 clinical trial evaluating PTX-35. The study is expected to enroll up to 30 patients with advanced solid tumors refractory to standard of care. It is also supported by a $15.2 million grant from the Cancer Prevention and Research Institute of Texas.
While no new updates have come out this month, HTBX stock remains a focus. On Friday, the penny stock finished the week at $1.01. Monday morning saw shares rise to new 52-week highs of $1.34. Not only was this a big move from Friday but since we began following in March, HTBX stock has climbed as much as 306%. As new info comes out on this latest in-human trial, it could be something the market will digest. What are your thoughts? Will HTBX continue higher or “is this it” for the time being? Leave a comment below.
Penny Stocks To Watch: Organigram
Organigram (OGI Stock Report) is another one of the penny stocks picking up steam in July. The marijuana penny stock has held a relatively consistent sideways trend for the last few months. Furthermore, on a technical note, its 50-Day Moving Average seems to have acted as a pivot between support and resistance. In general, the 50DMA has been more resistance than support over the last year.
Earlier this month, Organigram updated shareholders on its business operations in light of COVID-19. Among several points, the company explained that it will grow less that its target production capacity. Furthermore, the company plans to reduce its workforce by roughly 25%.
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Despite the somewhat bad yet understandable news, OGI stock didn’t break down much at all. It’s become a generic approach to coronavirus for many companies. Reporting expectations that business will be lower because of COVID, etc. is nothing new especially by this time of the year.
Marijuana Penny Stocks Are Getting More Attention Right Now & This Might Be Why
Cannabis penny stocks are getting more attention today and not just OGI alone. The White House recently completed its review of pending FDA guidance on marijuana and CBD research. The FDA submitted its proposed plan to the Office of Management and Budget in May. The plan was titled “Cannabis and Cannabis-Derived Compounds: Quality Considerations for Clinical Research,” though it’s still yet to be seen as to what the actual outcome will be. It looks like hopes are high at the start of the week.
In any case, Organigram stock is trading higher this week. After closing the session on July 10th at $1.53, OGI rallied to a high of $1.63 during the early July 13 session. This comes just a few days after Alliance Global Partners initiated coverage on the company. The firm gave Organigram a Buy rating with a price target of $4CAD. The biggest question now is can this penny stock reverse its course and break back above resistance before the end of the year?
Penny Stocks To Watch: Outlook Therapeutics
Another one of the penny stocks that could be on the watch list this month is Outlook Therapeutics (OTLK Stock Report). The penny stock has held a consistent uptrend since March and reported bigger news this month. Outlook announced that it completed patient enrollment in its NORSE 2 clinical trial for ONS-5010 / LYTENAVA™ (bevacizumab-vikg). This is the company’s investigational ophthalmic formulation of bevacizumab for use in retinal indications.
The NORSE 2 clinical trial began patient enrollment in July 2019. Outlook Therapeutics has enrolled 227 patients at 39 clinical trial sites in the United States. Patients in the trial are being treated for 12 months. The primary endpoint for NORSE 2 is the difference in proportion of patients who gain at least 15 letters in the best corrected visual acuity (BCVA) at 11 months for ONS-5010. These patients will be dosed on a monthly basis. That will then get compared to LUCENTIS®, which is being dosed quarterly per the PIER regimen. Outlook Therapeutics expects to report pivotal safety and efficacy data in the third calendar quarter of 2021.
The company also said it plans to submit ONS-5010 for regulatory approvals in Europe and Japan. Outlook said that if it receives approval, ONS-5010 will be the first and only on-label ophthalmic formulation of bevacizumab to treat retinal diseases. It will be interesting to see if the company reports any preliminary updates moving forward. The company just raised $11.2 million at the end of June at a price of $1.215 per share. Since then, OTLK stock has managed to climb to highs of $1.55 this month so far.
