Are These 4 Pre Market Penny Stocks On Your Watch List Today?
There’s no shortage of news when it comes to penny stocks. But sometimes it takes a minute to find the true source of momentum. In many cases, you’ll have to read between the lines and think outside of the box. I don’t have any more idioms for you but you get the point. If per se, there’s a solar penny stock moving aggressively higher, you might think the company reported a big development.
When you go to search for their news feed, you find nothing – gasp. Now what? It’s time to do some digging. First, did the company file something new? Many times we’ll see companies file material events before they are formally announced as a PR. We’ll also see things like 13G/F’s, Form 4s, Registration Statements, and the like. All have their own implications for traders.
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Still can’t find anything after looking at the filings? It’s time to roll up your sleeves and look for sympathy catalysts. What’s a sympathy trade? Basically, in my example here, it would be the small cap stock (solar company) benefiting from positive sentiment stemming from a big development within the industry.
How To Find The Best Penny Stocks
This might entail something that’s government-related, there could be a larger company doing something big, or it could result from piggybacking on another related industry. We’ve seen this exact case happen recently. What started as a surge in EV penny stocks because of Tesla’s Battery Day, evolved into a push for alternative energy stocks, then low float energy stocks, then low float stocks, in general.
The goal is to find a potential catalyst in order to have some sort of idea on the follow-through momentum that could be in play later on. Typically, the “sympathy trade” isn’t as impactful in the long run as, say, a major company-specific development on phase trial progress or a $10 million, 5 -year solar installation deal. Needless to say, “plan your trade and trade your plan” – always have an entry and exit strategy. With this in mind, here are a few penny stocks to watch heading into the Thursday session, all with recent catalysts of their own.
Penny Stocks To Watch Today
- GT Biopharma Inc. (GTBP Stock Report)
- BIO-key International (BKYI Stock Report)
- OPKO Health Inc. (OPK Stock Report)
- Intec Pharma Ltd. (NTEC Stock Report)
Penny Stocks To Watch #1: GT Biopharma Inc.
GT Biopharma Inc. has been no stranger to momentum in the stock market. Toward the end of September, the company came out with big news – clinical study news. The company completed the treatment of the first patient enrolled at Dose Level 3 in its GTB-3550 TriKE™ Phase I/II clinical trial. In short, the findings have already shown promise (view full details).
This was a significant development for the company because Dose 3 is the “halfway point” dose in this portion of its Phase I/II trial. GTB-3550 is built upon GT Bio’s proprietary NK cell engager (TriKE™) technology. The initial focus for the treatment is for CD33 positive leukemias, specifically acute myeloid leukemia – AML. The interesting part about GT Bio, beyond the GTB-3550 is the actual TriKE™, which has gained some major notoriety recently.
GT entered into a partnership agreement with Cytovance® Biologics. it’s a USA-based contract development and manufacturing organization and a subsidiary of the Shenzhen Hepalink Pharmaceutical Group Co., Ltd. Cytovance will manufacture TriKE™ in accordance with GMP using Cytovance’s proprietary Keystone® bacterial or mammalian expression systems.
Over the last few weeks volume has picked up in the penny stock. Furthermore, we’ve also seen additional sympathy momentum build around cancer treatment stocks due to big M&A deals. Will GTBP continue this trend in October?
Penny Stocks To Watch #2: BIO-key International
BIO-key International hasn’t been the strongest of the penny stocks during the last few weeks. In fact, it broke down below a key support level – its 200-day moving average – in August. This was a major level for BKYI stock as it hadn’t broken below this since April. Fast-forward to this week, and BIO-key might have found some respite.
The company itself has been trading with significant volatility during this whole coronavirus pandemic. The main reason likely has to do with its business. The company provides identity and access solutions based on a biometric platform.
This week, the company made headlines and waves in the stock market. Thursday, BIO-key announced that the U.S. Government Services Agency, which provides centralized procurement for the federal government, selected BIO-key’s PortalGuard IAM solution. The solution will deliver “flexible, secure and compliant” two-factor authentication for a public facing central communication application.
On the heels of this news, BKYI stock surged premarket. The penny stock hit an early high of $0.767 on strong volume, The biggest focus I think for some will be on that 200-day moving average. Will it become support again or now act as resistance on the chart. It currently site around $0.70
Penny Stocks To Watch #3: OPKO Health Inc.
Shares of OPKO Health Inc. stock rallied strongly during premarket trading on Thursday. The penny stock has been one we’ve been watching all year. Most recently, we started refocusing on the company toward the end of September. At the time, OPK stock was trying to establish a new level of support following a pullback in August. Since that September 21st update, we’ve watched, first-hand, OPK stock rally more than 45%.
Why’s OPK stock one to watch right now? Again, it comes after recent developments in the company. On Thursday, OPKO was in headlines with a juggernaut in the biotech space, Pfizer (PFE Stock Report). The two announced that C0311002 met its primary endpoint of improved treatment burden compared to GENOTROPIN® (somatropin) for injection administered once-daily. C0311002 is a Phase 3 study evaluating somatrogon dosed once-weekly in children 3 to 18 years of age with growth hormone deficiency.
In 2014, Pfizer and OPKO entered into a worldwide agreement for the development and commercialization of somatrogon for the treatment of growth hormone deficiency. Brenda Cooperstone, MD, Chief Development Officer, Rare Disease, Pfizer Global Product Development commented, “Patients and their loved ones have endured the burden of daily growth hormone injections for nearly 40 years, and we are working to improve this current standard of care with a long-acting, weekly option for the growth hormone disorders community.”
Penny Stocks To Watch #4: Intec Pharma Ltd.
Intec Pharma Ltd. is another one of the penny stocks moving higher during premarket on Thursday. Prior to this, NTEC stock has traded relatively flat over the last few months, more prone to day traders scalping the intra-day swings than anything else. There was a solid move from May to August but the last month and a half has been a downward swing.
Thursday morning, the company announced a key development that got the market excited. Intec Pharma Ltd. entered into a new research collaboration agreement with MSD. This is the tradename of Merck & Co., Inc., Kenilworth, NJ, USA. Details of the agreement are confidential.
However, Jeffrey A. Meckler, Vice Chairman and Chief Executive Officer of Intec Pharma, did say, “We are very excited to continue to work with MSD. This new agreement builds upon the relationship we have enjoyed in prior research and allows the companies to leverage their combined experience in delivery.”