penny stocks to watch right now

Are These Penny Stocks On Your Watch List

With earnings season in full-swing, biotech penny stocks are in focus. Coronavirus isn’t going anywhere anytime soon and we’ve now begun seeing the progress from Q2. Some companies have experienced strong windfalls and began expansive initiatives.

The hopes of a COVID-19 vaccine sooner than later grow stronger by the day. Some hot-spot states have started seeing a daily decline in confirmed cases. In the meantime, the daily death tolls haven’t slowed. One thing we can see is that biotechnology stocks haven’t slowed down.

One of the interesting things to note is that this is an election year. While that might not mean much to new traders, history suggests that biotechnology usually suffers during years that a major election takes place. The idea behind it has to do with investor-concern over what impact a new regime might have on drugmakers. One of the biggest buoys to this facet of the market has, of course, been coronavirus vaccine development.

Read More

You also can’t forget about the “supporting cast” either. I’m not only talking about the test makers & distributors, but also the other industries positively impacted by the lock-downs. Much of the tech sector, online retail, and delivery stocks have picked up the pace this year.

Many of them we haven’t written about as frequently for the simple fact that their share prices have firmly established themselves above $5. With this in mind, are these penny stocks on your list right now as the biotech sector surges?

Biotech Penny Stocks To Watch Under $2: Biocept Inc.

Biocept Inc. (BIOC Stock Report) has been on the watch lists for quite some time. Since we started following along in April, BIOC stock has climbed nearly 100% to date. At the end of July Biocept came out with a tweet that seems to have excited the market a bit.

The company tweeted: “In addition to the vital work that Biocept’s specialized staff does each day for patients diagnosed with cancer, Biocept is now providing COVID-19 testing to assist in the fight against the global coronavirus pandemic.”

The obvious attention on coronavirus vaccine stocks is clear. But so to is the attention on testing and detection. This week Biocept said that it has received more than 7,000 specimens and processed more than 6,500 COVID-19 specimens to date using RT-PCR technology at its molecular lab. According to the company, it has distributed nearly 12,000 COVID-19 PCR specimen collection kits to date and has approximately 18,000 additional collection kits assembled and available for immediate distribution.

The vast majority of COVID-19 test results were reported to healthcare providers within 48 hours of receipt of the specimen. This has been cause for more attention to focus on Biocept. Additionally, the company was awarded Canadian Patent 2812291, entitled METHODS AND REAGENTS FOR SIGNAL AMPLIFICATION.  This patent covers methods for enhancing the detection of cells using fluorescent complexes, including circulating tumor cells and from a biological fluid.  

The issuance of this patent increased Biocept’s total patent awards for use in its molecular diagnostics business to 40. If you aren’t familiar with the company, Biocept is a commercial-stage molecular oncology diagnostics company.  This month the company is set to report earnings. August 12 is the date to mark your calendars. Is BIOC stock set to continue this month’s bullish trend?

biotech penny stocks to watch Biocept Inc. (BIOC stock chart)

Tech Penny Stocks To Watch Under $2: Professional Diversity Network

Professional Diversity Network (IPDN Stock Report) might not be familiar to most. A look at the chart might also appear a bit odd considering that the price began actually showing up in June. In November, assets of the company’s China Unit were seized by police in Guangzhou, China. The Notice of Seizure stated that it was necessary to seize the assets of PDN China in connection with the criminal investigation of alleged illegal public fundraising by Gatewang Group. Since then, NASDAQ had halted shares and carried out its own investigation. IPDN stock resumed trading on June 24th. However, there weren’t many further updates as to “what comes next” for the company.

[Read More] Should You Buy Penny Stocks? These Just Made New August Highs

In fact, the only real updates came in the form of financing announcements. That is, until this week. On Wednesday, Professional Diversity Network made its first biz dev announcement of the year. The company reported a partnership with Web Scribble Solutions, Inc. It is a leading provider of career center technology for professional and trade associations.

“Web Scribble is excited to partner with the market leader diverse workforce recruitment,” noted Alexey Gutin, CEO of Web Scribble. “PDN provides an innovative approach to helping match employers with diverse candidates, and we look forward to helping match employers with highly qualified candidates.”

No other terms of the deal were posted in the update. However, in light of this news, IPDN stock was on the move, reaching initial highs of over $1.90 in the morning session. Since it is a lower float penny stock, volatility could be a big factor right now. So if this is on your watch list, don’t be surprised to see big swings in the market.

tech penny stocks to watch Professional Diversity Network (IPDN stock chart)

Biotech Penny Stocks To Watch Under $2: Aileron Therapeutics Inc.

Aileron Therapeutics Inc. (ALRN Stock Report) is a biopharmaceutical company focused on developing cell-permeating peptides to treat cancer. We’ve actually been following this company since last June when the stock was trading around $0.80. It’s definitely gone through ups and downs but overall, ALRN stock has climbed significantly since. In May of this year, we saw shares reach new 52-week highs of $1.99. Since then, however, the penny stock has slid. After finding some footing around $0.90, momentum began building.

This week, things came to a head. This following a key update. On Monday, the company announced that it completed enrollment in the dose optimization expansion cohort of its ongoing open-label Phase 1b clinical study of ALRN-6924. The study is evaluating ALRN-6924 to protect against chemotherapy-induced bone marrow toxicities in certain patients treated with topotecan. Data readouts are expected before the end of the year.

On Wednesday shares began surging once again. ALRN stock hit a high of $1.68 during the morning session. It also saw some of its highest trading volumes of the year. What will be important to watch for is ALRN to establish support if or when it pulls back. Previous resistance highs back in June showed around $1.25-$1.30. Will that end up becoming a new support or will ALRN shares slide lower? After this latest surge and recent update, it could be one of the biotech penny stocks to watch right now outside of the typical list of coronavirus vaccine stocks.

biotech penny stocks to watch Aileron Therapeutics (ALRN stock chart)

Sign up for our FREE Newsletter and get:

  • The Beginner’s Handbook For Trading Penny Stocks
  • Penny Stock Alerts And Ideas
  • Learn To Trade Penny Stocks
  • Free Access to The Fastest Growing Highest Rated Trading Chatroom
Privacy Policy

Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | news@pennystocks.com

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Junior Gold Stocks Creating Massive Opportunity for Investors!

An Immediate Stock Alert is Being Called On: IMC International Mining Corp…

Penny Stock Liberty TripAdvisor Climbed 2,871% In A Day; How?

Shares Of Liberty TripAdvisor Holdings Inc. B Shares Left The Penny Stock…