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Penny Stocks, News, & Big Moves

When you’re looking for penny stocks to buy, one of the top things to look for is a catalyst. These can come in the form of rumors, filings, and more-popularly, news. For the last 8 months, we’ve watched as countless companies have reported big develops that triggered massive moves in certain penny stocks. The start of September is no different but don’t forget that not all news is good news.

Late last month, we saw exactly what bad news can do to stocks. For instance, take a look at Acasti Pharma (ACST Stock Report). It’s a biotech company and without getting into too much detail, it was on the verge of releasing key data on one of its pipeline treatments. Leading up to that date, the market was building steam in anticipation of a hopeful outcome.

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However, the news wasn’t good. In fact, it was some of the worst to date and saw shares plummet massively. ACST stock still hasn’t recovered. This week, the stock that was $0.75 last week now trades around $0.21. On the flip side, there are more companies on Wednesday that are reporting positive news and the market has reacted.

Some of the companies you’ll read about in this article have made strong moves higher. The biggest question thing to focus on is whether or not that momentum fuels a 1-day move or if that momentum can continue throughout the month.

Top Penny Stocks To Watch #1: Evofem Biosciences Inc.

Shares of Evofem Biosciences Inc. (EVFM Stocks Report) pushed higher on Wednesday. This comes just a few days after the company’s last update. Specifically, Evofem reported its conference schedule for September. The company’s first conference appears is in 2 weeks at the H.C. Wainwright & Co. 22nd Annual Global Investment Conference. Now, you may be asking why would such an update act as a potential catalyst? Let’s take a look at what’s happened over the last few weeks with the company.

The main topic of discussion with Evofem has been its pregnancy prevention, prescription gel, Phexxi. On September 8th, the company said it will have all the wholesale agreements in place with Phexxi on stock and ready for launch on September 8. It may be a big talking point along the conference trail when it comes to discussing the potential of the company. In a recent press release, Saundra Pelletier, Evofem’s Chief Executive Officer discussed the ramp-up she expects.

“We are now intensely focused on the successful commercial launch of Phexxi in September and ensuring the team’s ongoing excellence in execution with manufacturing timelines, payer coverage, sales force recruitment and the build-out of our unique telemedicine platform — the Phexxi Concierge Experience. It’s going to be an exciting third quarter.”

top penny stocks to watch Evofem Biosciences Inc. (EVFM stock chart)

Top Penny Stocks To Watch #2: NanoViricides Inc.

NanoViricides Inc. (NNVC Stock Report) is another one of the penny stocks to watch this week. NNVC stock has jumped from lows of $3.80 to highs on Wednesday of $4.02. This comes after its first September update. The company announced that it will be presenting at the LD 500 investor conference on September 3 rd at 8:20 AM PDT. Anil R. Diwan, Ph.D., President and Executive Chairman of the Company, will be presenting to a live audience.

The company successfully performed drug development work against COVID-19 and believes it is close to declaring a clinical candidate. “Our current COVID-19 drug development candidates have shown efficacy against multiple different coronaviruses in our BSL2 virology lab. The Company believes this research provides scientific support that the virus would not be able to escape our drug candidate despite mutations, unlike many other drugs, antibodies and vaccines.”

[Read More] 3 High Volume Penny Stocks To Watch This Week

This mention of efficacy against multiple coronaviruses has become a bigger focus. While corporate presentations are always important to note, so are clinical developments. Having the ability to address multiple coronaviruses could prove important. That’s considering that some have observed mutations existing in new strains of the virus. According to NanoViricides, the company is also in the process of drafting sections of an IND for its COVID-19 drug candidate. It also said NanoViricides is conducting studies to finalize its clinical candidate.

top penny stocks to watch NanoViricides Inc. (NNVC stock chart)

Top Penny Stocks To Watch #3: Genius Brands International Inc.

Genius Brands International Inc. (GNUS Stock Report) has become of victim of its own success at times. The company has made significant headway in attracting new investors this year. It has also efforts to raise money to fulfill certain growth initiatives. With that tends to come dilution. After its big run earlier this year, the last few weeks have faced considerable pressure. But could that all be starting to turn around in September?

This week, Genius Brands began turning heads once again after its latest update. The company announced that its Kartoon Channel! has acquired two animated children’s series, Adventures of Sonic The Hedgehog, staring Jaleel White, and PAC-MAN and The Ghostly Adventures. The new series were acquired from 41 Entertainment.

“Our mission in creating Kartoon Channel! has always been to deliver the best of the best in children’s entertainment, and we are excited to add these two series, featuring popular characters that are proven winners and that kids love,” said Caroline Tyre , General Manager of Kartoon Channel! With this news has come a bit of renewed optimism. But if this is on your watch list right now, I think you should also keep in mind the last few months of trading. Will this latest update finally spark a reversal in a 2-month downtrend in GNUS stock?

top penny stocks to watch Genius Brands International Inc. (GNUS stock chart)

Top Penny Stocks To Watch #4: CohBar Inc.

Some readers might remember CohBar Inc. (CWBR Stock Report) from earlier in August. The company had presented new data on its MBT2 designed to address pulmonary fibrosis. While that sparked some optimism, after CohBar filed for a $100 million shelf offering, shares almost immediately dropped. During the final days of August and now into September, however, CWBR stock has started to steadily rebound. This came in toe with the update that CohBar closed a $15 million public offering.

What has happened this week sparking further optimism? CohBar hasn’t released any new updates to speak of. But if you look at the recent string of filings, you’ll likely see something glaring. That “thing” is a slew of FORM 4s filed at the start of the month. This series of insider buying and warrant executions has sparked some positive sentiment in the stock market this week.

If you remember at the end of August, the company reported that the first subjects in early-stage CB4211 trails had been dosed. CB4211 is the company’s potential treatment for liver disease and obesity. The first subjects are part of its phase 1b stage of its phase 1a/1b trial for nonalcoholic steatohepatitis, a fat liver disease, and obesity.

top penny stocks to watch CohBar Inc. (CWBR stock chart)

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