4 Penny Stocks To Buy Under $4.25 Right Now
Looking for penny stocks to buy today? You’re not alone. One of the most popular topics daily is finding an answer to 1 question. “What are the best penny stocks to buy today?“
Of course, the process is easier said than done. It usually involves starting with a list of penny stocks then deciding which have the best opportunity to result in a successful trade. What do you look for, first? Is it volume, news, filings, or maybe just momentum alone? Comment below with your starting point for finding the best penny stocks to buy.
Taking a higher view approach, things like news, filings, and rumors paired with above-average volume help traders find a few good penny stocks. But as we saw today, first hand, it’s important to do your research or risk holding the bag.
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Here’s what I mean by this. Late Monday afternoon, a Bloomberg article emerged citing Johnson & Johnson was accused in a lawsuit for deceiving investors of a company called Auris Health. Other outlets began picking up on this and soon enough, it wasn’t a story about Auris Health (a private company) but Auris Medical Holdings (EARS Stock Report), a public company.
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The stock symbol, EARS began trading much higher with massive volume compared to its average. Had you only taken a snippet of info from that headline and not read the details, you might’ve gotten caught up in the hype. As we can see, that JNJ news was unrelated and EARS stock plummeted at the opening bell. It went from $1.95 highs during premarket to lows of $1.04 during the morning session.
Could someone have made money with that penny stock; sure. But it would have had to be during extended hours trading only. Anything after 7 AM EST was during a time when EARS stock was already on the decline. Now, aside from the confusion, the company had its own formal update this morning.
Auris announced that it began Part B of its TRAVERS Phase 2 study on its vertigo treatment, AM-125. However, by that time, shares were already in a sharp decline. Will it be able to recover? Time will certainly tell. However, it supports the idea that doing a little bit of research would have made all the difference. With this in mind, here’s a list of penny stocks that can be bought for under $4; are they worth it?
Penny Stocks To Buy Under $4.25: Onconova Therapeutics
Shares of Onconova Therapeutics, Inc. (ONTX Stock Report) have been trading flat for weeks now. There was a period where the penny stock jumped in late-September. Since then, however, it’s been a sideways trading penny stock. One of the reasons for that jump in September was Onconova’s partner, HanX Biopharmaceuticals was initiating its Phase 1 trial on ON 123300 in China. The company had already explained that ON 123300 exhibited single agent toxicity against different cancers in preclinical studies. These included breast cancer, colon cancer, mantle cell lymphoma, and multiple myeloma.
This week, ONTX stock is gaining a bit more steam following its latest update. Onconova’s CEO will present a company update during the 2020 BIO Investor Forum Digital event. That takes place today through Thursday.
The company’s lead candidate, Rigosertib, has shown the ability to block cellular signaling. Preclinical work with rigosertib is underway in COVID-19. Patents covering oral and injectable rigosertib were issued in the US. They should provide coverage until at least 2037 according to the company. Despite flunking its Phase 3 INSPIRE Trial, the company remained optimistic about the future of the therapy. Will that be one of the topics of discussion this week?
Penny Stocks To Buy Under $4.25: CBAK Energy Technology Inc.
CBAK Energy Technology Inc. (CBAT Stock Report) is no stranger to big moves in the market. If you remember back in June this energy penny stock was trading around $0.80 and had just begun seeing above-average trading volume. Fast-forward to the last few weeks and CBAT stock has been explosive.
Shares ended up reaching highs of $4.98 as strength continued in the EV and alternative energy sectors. However, the last week or so has seen an aggressive pullback in shares to recent lows of $2.77 this week. While there weren’t any negative headlines to go along with the move so far, CBAK may have simply experienced profit-taking. The initial move was sparked by sector optimism and traders may have very well likely gone to secure profits.
If any asset class has given traders a reason to be cautious, its penny stocks. Names like Kodak and Genius Brands have clearly demonstrated how quickly things can consolidate after a big run. Now, whether or not CBAT stock ends up rebounding and retesting those levels is yet to be seen. Needless to say, the penny stock is trending on Tuesday as related industry names are pushing higher.
Penny Stocks To Buy Under $4.25: Aileron Therapeutics Inc.
Aileron Therapeutics Inc. (ALRN Stock Report) is another one of the penny stocks trading higher on Tuesday. The company just announced proof-of-concept data from its Phase 1b study of ALRN-6924 would be featured in a late-breaking presentation at the EORTC-NCI-AACR Annual Symposium on Molecular Targets and Cancer Therapeutics. The dates to note from this event are October 24th and 25th. In June 2020, Aileron announced positive interim data from this study.
ALRN-6924 is the company’s treatment for certain cancers to reduce or eliminate chemotherapy’s side-effects. “We believe that our novel mechanism of action has the potential to introduce a transformative paradigm of proactive prevention of hematological and non-hematological chemotherapy-induced side effects. Importantly, our approach is designed to give oncologists access to a chemoprotective agent that will not reduce the efficacy of chemotherapy,” said CEO Manuel Aivado, M.D., Ph.D.
While the announcement wasn’t a major catalyst on Monday, momentum was certainly present on Tuesday. The company will host an investor call on the 26th to discuss new data and outline its strategy. The goal is to build upon chemoprotection for multiple cancers and chemotherapies.
Penny Stocks To Buy Under $4.25: Evogene Ltd.
Evogene Ltd. (EVGN Stock Report) is climbing again on Tuesday along with volume helping to push momentum in the market. The penny stock has been on our list of penny stocks to watch since the start of September. During this period, EVGN stock has managed a move from around $2 to highs of $5.30. Similar to CBAT, the penny stock recently pulled back and consolidated to around $3.50 during a bout of profit-taking. However, on Tuesday, EVGN stock is spiking once again trying to break and hold above $4.
What helped build some attention stemmed from the company’s premarket news on Tuesday. Evogene’s Biomica subsidiary advanced to large-scale production of BMC128, its Live Bacterial Product candidate consortium. This will support Biomica’s first-in-man proof-of-concept clinical trials for an immuno-oncology program expected to begin next year. Treatment with BMC128 in certain settings “significantly improved anti-tumor activity” in mice.
Ofer Haviv, Chairman of Biomica and President & CEO of Evogene stated, “This is an additional important developmental milestone for Biomica…We see significant opportunity in this program which has the potential to bring new solutions for patients currently uncurable under available therapies.”