Are These Biotech Penny Stocks on Your Watchlist?
Biotech penny stocks have been on fire throughout 2021. With so much emphasis on the biotech industry as a result of Covid, investors continue to search for biotech stocks that could be worth buying. But there are a few key differences to consider when it comes to stocks in the bio-industry that investors should know.
First and foremost and something that may be obvious is, what drugs or products does the company have in its pipeline? This is the most pressing factor as it determines what type of revenue the company could expect in the near future. And, while some companies have several compounds or products in studies, others have commercialized, revenue-generating assets.
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In line with this, investors should always consider the company’s financials. While this applies to all penny stocks, it is very important when buying biotech stocks. Does the company have substantial debt? How much cash does it have on hand? Is it producing any revenue? All of these questions are valuable and worth asking before investing.
Lastly, traders need to look at the speculative factors that are impacting a company. This includes any upcoming announcements, FDA approvals, press releases, and so on. Because biotech stocks tend to be some of the most volatile out there, news is always a major factor for price movement. So, with all of this in mind, here are three biotech penny stocks to watch that are climbing right now.
3 Biotech Penny Stocks to Watch Right Now
- Biotricity Inc. (NASDAQ: BTCY)
- Progenity Inc. (NASDAQ: PROG)
- Seelos Therapeutics Inc. (NASDAQ: SEEL)
Biotricity inc. (NASDAQ: BTCY)
Biotricity inc. is a biotech penny stock that has climbed by almost 40% in the past five days. This includes an almost 20% gain during intraday trading today. If you’re not familiar, Biotricity is a company that offers biometric data monitoring solutions in the United States. Biotricity assists with the delivery of removal monitoring solutions. These solutions are used for chronic illness and post-diagnostics. Biotricity’s products are used in medical, healthcare, and consumer markets. Its Bioflux mobile cardiac telemetry solution has become a major product for it in the past few months. So what has Biotricity been up to recently that is causing its stock price to rise?
On October 13th, Biotricity discussed its breakthrough patient monitoring solutions at a conference. This presentation took place at the Virtual LD Micro Main Event XIV. The presentation was given by its CEO Waqaas Al Siddiq. This presentation talked about recent milestones and the development of Biokit, a home-use set comprised of a digital thermometer, pulse oximeter, and more.
This conference has held presentations for over 1600 companies since 2008. This conference allows Biotricity’s products to be shown to a larger number of prospective investors, increasing its popularity substantially. With its higher-than-average volume and major gains in the past few days, it makes sense why investors are watching Biotricity right now. With this in mind, will BTCY stock be on your list of penny stocks to watch?
Progenity Inc. (NASDAQ: PROG)
Progenity Inc. is a penny stock that we’ve covered numerous times in the past few weeks. Again today, shares of PROG stock are up by over 16%, giving it a five-day gain of over 30%. But, the real gains come in when we look at the one-month chart, which shows that shares of PROG have climbed by over 239%. This is substantial and is one of the main reasons that PROG stock is so popular right now.
The most recent news from Progenity comes as it announced its participation in the Crohn’s and Colitis Foundation’s Fourth Annual IBD Innovate Conference. This is a chance for the company to show off its ‘Novel Drug Delivery Technologies’ which will be presented on November 18th in the afternoon. The Drug Delivery System or DDS includes its ingestible capsule that can deliver targeted medicine for GI disorders. In addition to this, Progenity is developing several lead product candidates. This includes PGN-001 and PGN-600, which are both for use with gastrointestinal disorders.
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What’s interesting about PROG is that it works both on the production and research of medicines as well as the drug delivery technology itself. This offers it a broader market reach and substantially greater potential than if it was to just do one of the two. While shares are down by around 40% for the YTD period, there is a major bullish turnaround that has occurred in the last month or so. Considering all of this exciting news, does PROG stock deserve a spot on your watchlist?
Seelos Therapeutics Inc. (NASDAQ: SEEL)
Another penny stock that we’ve covered several times in the past few months is Seelos Therapeutics. SEEL stock is again, up by around 2% at midday, giving it a one-month gain of almost 10%. In the past year, however, shares of SEEL stock have shot up by a very solid 181%. And at its current price of roughly $2.30 per share, SEEL is down from its earlier year high of over $6.20. Does this mean that SEEL could move back up to this high price?
Well, to understand this we have to take a step further. Only a few weeks ago, Seelos announced that it would be presenting a poster on its SLS-002 compound which is Intranasal Racemic Ketamine. The poster will be presented at the International Summit on Suicide Research on October 25th at 1 PM EST.
Raj Mehra, CEO of Seelos stated that “we are highly encouraged by this open-label data and are currently focused on the double-blind placebo-controlled portion of the study which began enrolling parents in July. We are grateful for this opportunity to present at this year’s summit and excited to share these data plus some additional interim data from the open-label study with the global community focused on the research and treatment of patients in this critically important field.”
This is an exciting update for the company and investors alike. With that in mind, will SEEL stock be on your list of penny stocks to buy?
Are Biotech Penny Stocks Worth Buying Right Now?
Biotech penny stocks continue to show their resilience to the ups and downs of the stock market. While they can be highly volatile, they also present a lot of opportunities to make money in a short time frame.
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It’s also worth noting that because of their volatility, it can be easy to lose money if investors are not applying proper strategies and consistent research. Considering all of this, do you think that biotech penny stocks are worth buying right now?
