Are These Webull & Robinhood Penny Stocks On Your List This Week?
Whether you’re looking for penny stocks to buy on Robinhood, Webull, or other brokers, it’s good to have a strategy in place, first. One of the quickest ways to cut through the noise is to find companies with preset events. What do I mean? In the stock market today and for years prior, some companies will pre-announce upcoming dates.
Sometimes they’ll announce them months in advance and sometimes just days ahead of time. The companies that do this most frequently are found in the biotech space. Things like FDA data readouts and Prescription Drug User Fee Act – PDUFA – dates are things that get scheduled in advance. In the case of the latter – PDUFA – authorizes the FDA to collect fees from drug manufacturers to fund the drug approval process.
PDUFA dates are deadlines where the FDA needs to review new drug applications. Obviously, if companies receive FDA approval, its stock could experience a significant surge in momentum. Then again, leading up to a specific approval date can create a similar situation of “buy the rumor”.
Knowing that a PDUFA date is coming up can give a target for investors to consider. However, you should also be aware that just like trying to time earnings, the outcome isn’t always what you think. This, in turn, creates a highly risky situation so extra caution is usually factored in.
Penny Stocks To Buy Or Avoid This Week
Understanding the psychology of traders can give you a leg-up as a trader yourself. The general population of new traders buying penny stocks on Robinhood and other socially driven, mobile apps tend to focus on sentiment and speculation. We’ve seen this throughout the year with clear examples of rampant buying of bankrupt companies.
The fundamental strategy wasn’t taken into consideration with early trades like Hertz and J.C. Penney stock; only price and previous trading levels to compare. Understanding this as the case, you can use this psychological approach to help map out your strategy.
The bottom line is that it’s ok to have the “sentiment factor” or “hype factor” included in your trading plan. Just try not to get caught up in that hype, yourself. If you see certain traders actively discussing a stock in an uptrend, look a little deeper. See if there are upcoming catalysts that could add fuel to the fire. In trading penny stocks, you’re taking a short-term approach to buy and sell. So all you’re looking for are intermittent spikes in price.
Penny Stocks & Upcoming Events
When it comes to finding penny stocks to invest in, you may want to ignore the hype and focus more on fundamentals. Heading into this week, however, we’re focused on company events that have been pre-announced. You’ve also got to take into consideration that traders of larger-cap companies will also be focused on upcoming events. This week, the long-awaited Snowflake IPO date is set for September 15th.
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The hype that has built up around that IPO, in particular, could give rise to certain sympathy trades depending on how SNOW stock trades. I’m sure we’ll have articles discussing the Snowflake IPO sympathy this week so keep an eye out for that. In any case, here are a few penny stocks on Robinhood and Webull that their communities have started discussing with upcoming events.
Penny Stocks On Robinhood & Webull To Watch: Verastem, Inc.
Back in August, Verastem, Inc. (VSTM Stock Report) reported its Q2 results. It also included a corporate outlook on some of its pipeline treatments. One of the statements made by the company was that it’s looking forward to a “catalyst driven second half” of the year. By the look of the upcoming “schedule,” things are already off to a busy start.
A lot of the events come this week. September 16th is an important date to note. Verastem is set to present data at the RAS-Targeted Drug Development Conference. The company will deliver data from the LGSOC cohort of the investigator-initiated Phase 1/2 FRAME study evaluating VS-6766 and defactinib in KRAS mutant solid tumors. Veristem will also discuss new preclinical data from studies investigating VS-6766 and defactinib in combination with KRAS-G12C inhibitors.
The company has put a bigger focus on its resources and efforts on advancing the VS-6766. In conjunction with this, Veristem had previously announced the sale of its COPIKTRA franchise to Secura Bio for $311 million. This was the company’s leukemia and lymphoma treatment. That transaction is also expected to close this quarter. In light of these upcoming presentations, it will be interesting to see how the market reacts. For the better part of the last few quarters, VSTM stock has encountered a lot of hurdles in the market with shares sliding as a result.
Penny Stocks On Robinhood & Webull To Watch: Kezar Life Sciences, Inc.
Kezar Life Sciences, Inc. (KZR Stock Report) is another one of the biotech penny stocks presenting data this week. Last week, Kezar reported on its upcoming presentations. Specifically, as it pertains to this week, the company presents at the Pan-American Congress of Rheumatology 2020 – “PANLAR 2020” – on the 17th.
Kezar presents interim data in a scientific poster session from the Phase 1b portion of MISSION, a Phase 1b/2 clinical trial of KZR-616 for the treatment of lupus and lupus nephritis. In the company’s September 10th press release, Noreen Henig, MD, Kezar’s Chief Medical Officer, expanded on the milestone.
“The MISSION Phase 1b study has fully enrolled the sixth and final cohort, bringing us one step closer to understanding the safety, tolerability, and appropriate doses of KZR-616 for the treatment of an array of rare and severe autoimmune diseases.”
The company also participates at the H.C. Wainwright 22nd Annual Global Investment Conference on the 14th. Celia Economides , SVP, Strategy and External Affairs will host a virtual fireside chat after the market closes on Monday afternoon.
Penny Stocks On Robinhood & Webull To Watch: Immutep Ltd.
Immutep Ltd. (IMMP Stock Report) had a great start to 2020. But that all came to an abrupt halt in March. That’s when shares of IMMP stock hit a wall and dropped more than 70% overnight. Remember what I had explained earlier about upcoming data dates. They can be incredibly risky depending on the outcome.
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In Immutep’s case, the outcome was far from positive. The company announced data from a Phase 2b AIPAC study that evaluated its lead product candidate eftilagimod alpha in combination with paclitaxel. The trial was in HER2-negative/HR+ metastatic breast cancer. Investors were underwhelmed by these results, obviously.
However, since then, IMMP stock has managed to reclaim some of the losses. Last week, shares finished out at $1.61. Heading into the new week, new data is scheduled to be presented in four poster presentations at the ESMO Virtual Congress 2020.
The new data will be presented from Immutep’s phase II TACTI-002 and the investigator-initiated phase I clinical trial, INSIGHT. All 4 posters will focus on the eftilagimod treatment. Specifically, the targeted treatments are for select tumors, as well as in patients with head/neck cancers, and metastatic non-small cell lung carcinoma.
Penny Stocks On Robinhood & Webull To Watch: Agenus Inc.
Similar to Immutep, Agenus Inc. (AGEN Stock Report) doesn’t present data until later in the week. Data from two Phase 2 trials of balstilimab alone and in combination with zalifrelimab will be presented in an oral presentation at the upcoming European Society of Medical Oncology Conference on September 18, 2020.
If Agenus sounds familiar, that’s because it is. It’s one of the companies we’ve followed since March and we’ve seen, first-hand, the bullish move that AGEN stock made. Keep in mind what happened earlier in the second quarter after the company presented key data.
Agenus presented at the American Society of Clinical Oncology Virtual Scientific Program. Dr. Steven J. O’Day, the Executive Director of the John Wayne Cancer Institute and Cancer Clinic and Director of Providence Los Angeles Regional Research presented data on AGEN1181. AGEN stock spiked after this presentation.
The company’s balstilimab is another one of the company’s pipeline treatments. The upcoming presentations will focus on its application for patients with recurrent or metastatic cervical cancer. The company has also reported that Agenus is on track to initiate rolling Biologics License Application submission for balstilimab monotherapy this quarter. Considering the upcoming presentation and additional milestones this quarter, will AGEN stock be on your list in September?